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

Liabilities on Revenue
Year 2022 Quarter 3: Liabilities on Revenue 39.02 (%).Trend:Decrease 31.17% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 160.63 (%).Trend:Increase 311.66% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 90.41 (%).Trend:Decrease 43.72% than previous quarter

Overall: increasing (131.7%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 87.8 (%).Trend:Decrease 33.97% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 306.83 (%).Trend:Increase 249.46% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 155.28 (%).Trend:Decrease 49.39% than previous quarter

Overall: increasing (76.86%). Fluctuation: **Significant** (high variation).


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

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 75.16 (%).Trend:Decrease 35.24% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 221.9 (%).Trend:Increase 195.24% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 96.14 (%).Trend:Decrease 56.67% than previous quarter

Overall: increasing (27.91%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 13.35 (%).Trend:Decrease 5.05% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 13.3 (%).Trend:Decrease 0.37% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 12.97 (%).Trend:Decrease 2.48% than previous quarter

Overall: decreasing (-2.85%). Fluctuation: **Little** (low variation).


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

Retained Earning on Assets
Year 2022 Quarter 3: Retained Earning on Assets 61.53 (%).Trend:Decrease 0.57% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets 54.8 (%).Trend:Decrease 10.94% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 48.85 (%).Trend:Decrease 10.86% than previous quarter

Overall: decreasing (-20.61%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2022 Quarter 3: Earning Per Share 0.42 (USD).Trend:Decrease 223.53% than previous quarter
Year 2023 Quarter 1: Earning Per Share 0.1 (USD).Trend:Decrease 76.19% than previous quarter
Year 2023 Quarter 2: Earning Per Share 0.81 (USD).Trend:Increase 710.0% than previous quarter

Overall: increasing (92.86%). Fluctuation: **Significant** (high variation).



Financial analysis of Q3 2022 to Q2 2023 reveals significant fluctuation in working capital efficiency metrics. Liabilities and current assets on revenue demonstrate substantial increases and decreases.  Cost efficiency shows a slight decrease in the SG&A expense ratio.  The retained earnings-to-revenue ratio shows a large, volatile increase and decrease pattern. Investment efficiency shows a consistent decrease in retained earnings on assets. Earnings per share, after a large decrease, show a substantial increase in Q2 2023.