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 12.5 (%).Trend:Decrease 46.03% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 46.47 (%).Trend:Increase 271.76% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 24.59 (%).Trend:Decrease 47.08% than previous quarter

Overall: increasing (96.72%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 15.67 (%).Trend:Decrease 48.97% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 58.76 (%).Trend:Increase 274.98% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 30.74 (%).Trend:Decrease 47.69% than previous quarter

Overall: increasing (96.17%). 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 5.74 (%).Trend:Decrease 34.55% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 18.99 (%).Trend:Increase 230.84% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 7.89 (%).Trend:Decrease 58.45% than previous quarter

Overall: increasing (37.46%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 5.13 (%).Trend:Decrease 2.47% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 7.23 (%).Trend:Increase 40.94% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 7.31 (%).Trend:Increase 1.11% than previous quarter

Overall: increasing (42.5%). Fluctuation: **Neutral** (moderate 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 12.64 (%).Trend:Increase 11.37% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets 10.83 (%).Trend:Decrease 14.32% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 9.13 (%).Trend:Decrease 15.7% than previous quarter

Overall: decreasing (-27.77%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2022 Quarter 3: Earning Per Share -0.17 (USD).Trend:Decrease 29.17% than previous quarter
Year 2023 Quarter 1: Earning Per Share -0.17 (USD).Trend:Increase 0.0% than previous quarter
Year 2023 Quarter 2: Earning Per Share -0.4 (USD).Trend:Increase 135.29% than previous quarter

Overall: decreasing (135.29%). Fluctuation: **Significant** (high variation).



Financial statements from Q3 2022 to Q2 2023 show a mixed financial performance with significant volatility. Working capital efficiency, with rising liabilities and current assets, presents a volatile picture of short-term operation improvement. Cost efficiency (retained earnings to revenue) displays increasing trends but with considerable fluctuations. Investment efficiency, however, shows a downward trend with moderate variability.  Earnings per share remain consistently negative and highly volatile.