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 46.88 (%).Trend:Decrease 32.26% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 126.86 (%).Trend:Increase 170.61% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 55.53 (%).Trend:Decrease 56.23% than previous quarter

Overall: increasing (18.45%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 75.95 (%).Trend:Decrease 33.64% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 207.43 (%).Trend:Increase 173.11% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 99.48 (%).Trend:Decrease 52.04% than previous quarter

Overall: increasing (30.98%). 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 -14.03 (%).Trend:Increase 17.01% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue -73.93 (%).Trend:Increase 426.94% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue -38.9 (%).Trend:Decrease 47.38% than previous quarter

Overall: decreasing (177.26%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 50.83 (%).Trend:Increase 5.06% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 57.51 (%).Trend:Increase 13.14% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 53.22 (%).Trend:Decrease 7.46% than previous quarter

Overall: increasing (4.7%). 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 -5.25 (%).Trend:Increase 78.57% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets -9.39 (%).Trend:Increase 78.86% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets -9.97 (%).Trend:Increase 6.18% than previous quarter

Overall: decreasing (89.9%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2022 Quarter 3: Earning Per Share 0.39 (USD).Trend:Increase 2.63% than previous quarter
Year 2023 Quarter 1: Earning Per Share -0.04 (USD).Trend:Decrease 110.26% than previous quarter
Year 2023 Quarter 2: Earning Per Share 0.07 (USD).Trend:Decrease 275.0% than previous quarter

Overall: decreasing (-82.05%). Fluctuation: **Significant** (high variation).



Financial analysis of Q3 2022 to Q2 2023 reveals significant fluctuations in key financial metrics.  Working capital efficiency metrics (liabilities and current assets on revenue) show substantial fluctuation and increases. Cost efficiency, as measured by the declining ratio of retained earnings to revenue, indicates profitability concerns.  The SG&A expense ratio shows a small increase. Investment efficiency and earnings per share both show significant decreases and high fluctuation.