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 189.84 (%).Trend:Increase 245.48% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 90.7 (%).Trend:Decrease 52.22% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 54.41 (%).Trend:Decrease 40.01% than previous quarter

Overall: decreasing (-71.34%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 204.92 (%).Trend:Increase 195.53% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 101.35 (%).Trend:Decrease 50.54% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 64.8 (%).Trend:Decrease 36.06% than previous quarter

Overall: decreasing (-68.38%). 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 214.9 (%).Trend:Increase 192.66% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 105.96 (%).Trend:Decrease 50.69% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 71.11 (%).Trend:Decrease 32.89% than previous quarter

Overall: decreasing (-66.91%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 11.99 (%).Trend:Decrease 4.08% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 11.91 (%).Trend:Decrease 0.67% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 11.79 (%).Trend:Decrease 1.01% than previous quarter

Overall: decreasing (-1.67%). 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 25.26 (%).Trend:Increase 3.74% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 25.68 (%).Trend:Increase 1.66% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 27.05 (%).Trend:Increase 5.33% than previous quarter

Overall: increasing (7.09%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.94 (USD).Trend:Decrease 63.85% than previous quarter
Year 2023 Quarter 2: Earning Per Share 2.0 (USD).Trend:Increase 112.77% than previous quarter
Year 2023 Quarter 3: Earning Per Share 3.34 (USD).Trend:Increase 67.0% than previous quarter

Overall: increasing (255.32%). Fluctuation: **Significant** (high variation).



Financial analysis of Q1 2023 to Q3 2023 displays a concerning trend of substantial declines in working capital efficiency (liabilities and current assets). Cost efficiency (ratio of retained earnings to revenue) exhibits high volatility, while SG&A expense ratios decline steadily.  Investment efficiency displays little variation, with a steady upward trend.  Earnings per share demonstrate notable increases after a preceding downturn.