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

Liabilities on Revenue
Year 2022 Quarter 2: Liabilities on Revenue 94.82 (%).Trend:Decrease 52.64% than previous quarter
Year 2022 Quarter 3: Liabilities on Revenue 59.79 (%).Trend:Decrease 36.94% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 97.01 (%).Trend:Increase 62.25% than previous quarter

Overall: increasing (2.31%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2022 Quarter 2: Current assets on Revenue 99.46 (%).Trend:Decrease 42.84% than previous quarter
Year 2022 Quarter 3: Current assets on Revenue 63.66 (%).Trend:Decrease 35.99% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 93.82 (%).Trend:Increase 47.38% than previous quarter

Overall: decreasing (-5.67%). Fluctuation: **Neutral** (moderate variation).


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

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 2: Ratio of Retained Earnings to Revenue -161.56 (%).Trend:Decrease 43.77% than previous quarter
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue -113.1 (%).Trend:Decrease 30.0% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue -177.83 (%).Trend:Increase 57.23% than previous quarter

Overall: decreasing (10.07%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 34.56 (%).Trend:Increase 9.19% than previous quarter
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 35.37 (%).Trend:Increase 2.34% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 34.12 (%).Trend:Decrease 3.53% than previous quarter

Overall: decreasing (-1.27%). Fluctuation: **Little** (low variation).


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

Retained Earning on Assets
Year 2022 Quarter 2: Retained Earning on Assets -78.94 (%).Trend:Increase 4.97% than previous quarter
Year 2022 Quarter 3: Retained Earning on Assets -83.55 (%).Trend:Increase 5.84% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets -89.25 (%).Trend:Increase 6.82% than previous quarter

Overall: decreasing (13.06%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2022 Quarter 2: Earning Per Share 0.31 (USD).Trend:Decrease 8.82% than previous quarter
Year 2022 Quarter 3: Earning Per Share 0.39 (USD).Trend:Increase 25.81% than previous quarter
Year 2023 Quarter 2: Earning Per Share 0.56 (USD).Trend:Increase 43.59% than previous quarter

Overall: increasing (80.65%). Fluctuation: **Significant** (high variation).



Financial statement analysis from Q2 2022 to Q2 2023 reveals mixed results.  Liabilities on revenue show an overall increasing trend with some volatility, while current assets on revenue exhibit a decreasing trend, also with fluctuations.  Cost efficiency indicates a modest decrease in the SG&A expense ratio, but the retained earnings-to-revenue ratio is decreasing overall with significant volatility. Investment efficiency, as indicated by the retained earnings on assets, shows a steady downward trend, while earnings per share demonstrate an overall positive increase.