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 71.35 (%).Trend:Increase 229.71% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 31.82 (%).Trend:Decrease 55.4% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 23.8 (%).Trend:Decrease 25.2% than previous quarter

Overall: decreasing (-66.64%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 95.1 (%).Trend:Increase 224.68% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 38.12 (%).Trend:Decrease 59.92% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 27.97 (%).Trend:Decrease 26.63% than previous quarter

Overall: decreasing (-70.59%). 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 117.66 (%).Trend:Increase 317.98% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 65.45 (%).Trend:Decrease 44.37% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 48.44 (%).Trend:Decrease 25.99% than previous quarter

Overall: decreasing (-58.83%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 18.26 (%).Trend:Increase 4.82% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 19.24 (%).Trend:Increase 5.37% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 19.21 (%).Trend:Decrease 0.16% than previous quarter

Overall: increasing (5.2%). 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 45.99 (%).Trend:Increase 19.73% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 52.42 (%).Trend:Increase 13.98% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 54.21 (%).Trend:Increase 3.41% than previous quarter

Overall: increasing (17.87%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 2.03 (USD).Trend:Decrease 74.75% than previous quarter
Year 2023 Quarter 2: Earning Per Share 3.6 (USD).Trend:Increase 77.34% than previous quarter
Year 2023 Quarter 3: Earning Per Share 5.01 (USD).Trend:Increase 39.17% than previous quarter

Overall: increasing (146.8%). Fluctuation: **Significant** (high variation).



Financial analysis for Q1 2023 to Q3 2023 demonstrates substantial fluctuations in many financial metrics. Working capital efficiency (liabilities and current assets on revenue) shows significant decreases, while cost efficiency (ratio of retained earnings to revenue) also displays a downward trend. SG&A expense ratio maintains a slight increase, investment efficiency stays positive but neutral, and earnings per share exhibit substantial fluctuations, rising significantly after an initial decrease.