Working Capital Efficiency
The data from Quater 2 in 2022 to Quater 1 in 2023 includes 3 quarters.

Liabilities on Revenue
Year 2022 Quarter 2: Liabilities on Revenue 56.83 (%).Trend:Decrease 59.23% than previous quarter
Year 2022 Quarter 3: Liabilities on Revenue 39.67 (%).Trend:Decrease 30.2% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 107.41 (%).Trend:Increase 170.76% than previous quarter

Overall: increasing (89.0%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 2: Current assets on Revenue 100.02 (%).Trend:Decrease 55.9% than previous quarter
Year 2022 Quarter 3: Current assets on Revenue 71.96 (%).Trend:Decrease 28.05% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 179.62 (%).Trend:Increase 149.61% than previous quarter

Overall: increasing (79.58%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 2 in 2022 to Quater 1 in 2023 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 2: Ratio of Retained Earnings to Revenue 86.41 (%).Trend:Decrease 63.58% than previous quarter
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 49.24 (%).Trend:Decrease 43.02% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 88.11 (%).Trend:Increase 78.94% than previous quarter

Overall: increasing (1.97%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 24.14 (%).Trend:Decrease 0.29% than previous quarter
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 22.57 (%).Trend:Decrease 6.5% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 16.29 (%).Trend:Decrease 27.82% than previous quarter

Overall: decreasing (-32.52%). Fluctuation: **Neutral** (moderate variation).


Invest Efficiency
The data from Quater 2 in 2022 to Quater 1 in 2023 includes 3 quarters.

Retained Earning on Assets
Year 2022 Quarter 2: Retained Earning on Assets 7.91 (%).Trend:Decrease 14.95% than previous quarter
Year 2022 Quarter 3: Retained Earning on Assets 6.98 (%).Trend:Decrease 11.76% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets 5.78 (%).Trend:Decrease 17.19% than previous quarter

Overall: decreasing (-26.93%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2022 Quarter 2: Earning Per Share -0.48 (USD).Trend:Increase 269.23% than previous quarter
Year 2022 Quarter 3: Earning Per Share -0.55 (USD).Trend:Increase 14.58% than previous quarter
Year 2023 Quarter 1: Earning Per Share -0.2 (USD).Trend:Decrease 63.64% than previous quarter

Overall: increasing (-58.33%). Fluctuation: **Significant** (high variation).



Financial statements for Q2 2022 to Q1 2023 show significant fluctuations in working capital efficiency. Liabilities as a percentage of revenue decreased then increased sharply, while current assets as a percentage of revenue also showed a volatile pattern of decrease and increase.  Cost efficiency shows a decrease in SG&A expense ratio, but a highly variable trend in the ratio of retained earnings to revenue. Investment efficiency shows a consistent decrease in retained earnings on assets. Earnings per share show high volatility, with a period of increase followed by decrease.  Overall, significant fluctuations across key financial ratios highlight the need for more in-depth analysis to understand the underlying drivers of these changes.