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 163.96 (%).Trend:Increase 423.5% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 75.72 (%).Trend:Decrease 53.82% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 43.27 (%).Trend:Decrease 42.86% than previous quarter

Overall: decreasing (-73.61%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 193.75 (%).Trend:Increase 402.72% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 90.93 (%).Trend:Decrease 53.07% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 54.43 (%).Trend:Decrease 40.14% than previous quarter

Overall: decreasing (-71.91%). 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 58.3 (%).Trend:Increase 320.94% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 26.46 (%).Trend:Decrease 54.61% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 17.8 (%).Trend:Decrease 32.73% than previous quarter

Overall: decreasing (-69.47%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 21.23 (%).Trend:Increase 28.59% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 18.86 (%).Trend:Decrease 11.16% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 17.56 (%).Trend:Decrease 6.89% than previous quarter

Overall: decreasing (-17.29%). Fluctuation: **Little** (low variation).


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 12.78 (%).Trend:Decrease 7.66% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 13.32 (%).Trend:Increase 4.23% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 14.92 (%).Trend:Increase 12.01% than previous quarter

Overall: increasing (16.74%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.62 (USD).Trend:Decrease 92.38% than previous quarter
Year 2023 Quarter 2: Earning Per Share 2.21 (USD).Trend:Increase 256.45% than previous quarter
Year 2023 Quarter 3: Earning Per Share 4.21 (USD).Trend:Increase 90.5% than previous quarter

Overall: increasing (579.03%). Fluctuation: **Significant** (high variation).



Financial statement analysis from Q1 to Q3 2023 reveals several trends.  Liabilities and current assets on revenue decreased significantly.  Cost efficiency, as reflected in the ratio of retained earnings to revenue, also decreased substantially.  SG&A expense ratio showed a decrease.  In contrast, investment efficiency, based on retained earnings on assets, increased slightly, and earnings per share showed a substantial increase.