Working Capital Efficiency
The data from Quater 1 in 2023 to Quater 3 in 2023 includes 3 quarters.

Liabilities on Revenue
Year 2023 Quarter 1: Liabilities on Revenue 161.76 (%).Trend:Increase 204.17% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 81.92 (%).Trend:Decrease 49.36% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 52.97 (%).Trend:Decrease 35.34% than previous quarter

Overall: decreasing (-67.25%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 272.97 (%).Trend:Increase 202.29% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 137.35 (%).Trend:Decrease 49.68% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 89.48 (%).Trend:Decrease 34.85% than previous quarter

Overall: decreasing (-67.22%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 1 in 2023 to Quater 3 in 2023 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue -435.63 (%).Trend:Increase 173.31% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue -224.95 (%).Trend:Decrease 48.36% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue -149.71 (%).Trend:Decrease 33.45% than previous quarter

Overall: increasing (-65.63%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio

Invest Efficiency
The data from Quater 1 in 2023 to Quater 3 in 2023 includes 3 quarters.

Retained Earning on Assets
Year 2023 Quarter 1: Retained Earning on Assets -106.86 (%).Trend:Decrease 7.53% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets -108.96 (%).Trend:Increase 1.97% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets -110.8 (%).Trend:Increase 1.69% than previous quarter

Overall: decreasing (3.69%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share -0.04 (USD).Trend:Decrease 92.16% than previous quarter
Year 2023 Quarter 2: Earning Per Share -0.13 (USD).Trend:Increase 225.0% than previous quarter
Year 2023 Quarter 3: Earning Per Share -0.17 (USD).Trend:Increase 30.77% than previous quarter

Overall: decreasing (325.0%). Fluctuation: **Significant** (high variation).



Financial analysis from Q1 2023 to Q3 2023 reveals highly volatile financial performance. Working capital efficiency (liabilities and current assets on revenue) decreased substantially, with substantial quarter-to-quarter variability. Cost efficiency, as measured by the ratio of retained earnings to revenue, increased despite significant fluctuation. Investment efficiency exhibited a downward trend, although with notable changes.  Earnings per share show a considerable downward trend with large quarterly shifts.