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

Liabilities on Revenue
Year 2022 Quarter 1: Liabilities on Revenue 471.41 (%).Trend:Increase 690.16% than previous quarter
Year 2022 Quarter 2: Liabilities on Revenue 495.55 (%).Trend:Increase 5.12% than previous quarter
Year 2022 Quarter 3: Liabilities on Revenue 348.59 (%).Trend:Decrease 29.66% than previous quarter

Overall: decreasing (-26.05%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2022 Quarter 1: Current assets on Revenue 558.14 (%).Trend:Increase 258.59% than previous quarter
Year 2022 Quarter 2: Current assets on Revenue 346.97 (%).Trend:Decrease 37.83% than previous quarter
Year 2022 Quarter 3: Current assets on Revenue 216.99 (%).Trend:Decrease 37.46% than previous quarter

Overall: decreasing (-61.12%). Fluctuation: **Significant** (high variation).


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

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 1: Ratio of Retained Earnings to Revenue -3081.66 (%).Trend:Increase 213.21% than previous quarter
Year 2022 Quarter 2: Ratio of Retained Earnings to Revenue -1351.8 (%).Trend:Decrease 56.13% than previous quarter
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue -865.59 (%).Trend:Decrease 35.97% than previous quarter

Overall: increasing (-71.91%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 46.99 (%).Trend:Increase 0% than previous quarter
Year 2022 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 53.05 (%).Trend:Increase 12.9% than previous quarter
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 55.57 (%).Trend:Increase 4.75% than previous quarter

Overall: increasing (18.26%). Fluctuation: **Little** (low variation).


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

Retained Earning on Assets
Year 2022 Quarter 1: Retained Earning on Assets -443.02 (%).Trend:Decrease 2.4% than previous quarter
Year 2022 Quarter 2: Retained Earning on Assets -191.9 (%).Trend:Decrease 56.68% than previous quarter
Year 2022 Quarter 3: Retained Earning on Assets -202.72 (%).Trend:Increase 5.64% than previous quarter

Overall: increasing (-54.24%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2022 Quarter 1: Earning Per Share -0.15 (USD).Trend:Decrease 28.57% than previous quarter
Year 2022 Quarter 2: Earning Per Share -0.06 (USD).Trend:Decrease 60.0% than previous quarter
Year 2022 Quarter 3: Earning Per Share -0.31 (USD).Trend:Increase 416.67% than previous quarter

Overall: decreasing (106.67%). Fluctuation: **Significant** (high variation).



Financial statement analysis reveals a concerning pattern of decreasing working capital efficiency. Liabilities on revenue decreased from Q1 to Q3, but current assets on revenue experienced a much sharper decline, suggesting potential liquidity issues.  Cost efficiency shows a steady increase in the SG&A expense ratio. However, the ratio of retained earnings to revenue increased significantly with large fluctuations, signaling potentially poor cost management practices. Investment efficiency's retained earnings on assets also shows considerable fluctuation and declining trend.  Earnings per share are persistently negative and highly volatile, reflecting a financial performance needing immediate improvement.