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 64.63 (%).Trend:Increase 198.66% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 33.26 (%).Trend:Decrease 48.54% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 22.56 (%).Trend:Decrease 32.17% than previous quarter

Overall: decreasing (-65.09%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 89.91 (%).Trend:Increase 172.62% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 44.48 (%).Trend:Decrease 50.53% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 27.75 (%).Trend:Decrease 37.61% than previous quarter

Overall: decreasing (-69.14%). 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 15.28 (%).Trend:Increase 141.77% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 7.03 (%).Trend:Decrease 53.99% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 4.57 (%).Trend:Decrease 34.99% than previous quarter

Overall: decreasing (-70.09%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 17.79 (%).Trend:Increase 11.82% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 17.77 (%).Trend:Decrease 0.11% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 17.67 (%).Trend:Decrease 0.56% than previous quarter

Overall: decreasing (-0.67%). 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 7.26 (%).Trend:Decrease 14.08% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 6.76 (%).Trend:Decrease 6.89% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 6.85 (%).Trend:Increase 1.33% than previous quarter

Overall: decreasing (-5.65%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share -0.32 (USD).Trend:Decrease 129.63% than previous quarter
Year 2023 Quarter 2: Earning Per Share -0.7 (USD).Trend:Increase 118.75% than previous quarter
Year 2023 Quarter 3: Earning Per Share -0.78 (USD).Trend:Increase 11.43% than previous quarter

Overall: decreasing (143.75%). Fluctuation: **Significant** (high variation).



Analysis of Q1 2023 to Q3 2023 reveals significant downward trends in key working capital and cost efficiency metrics.  Liabilities on revenue, current assets on revenue, and the ratio of retained earnings to revenue all decreased substantially.  While SG&A expenses and retained earnings on assets showed minor declines, the dramatic drop in earnings per share (-143.75%) is concerning and warrants further investigation.