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 118.07 (%).Trend:Decrease 31.35% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 312.55 (%).Trend:Increase 164.72% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 162.01 (%).Trend:Decrease 48.17% than previous quarter

Overall: increasing (37.22%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 264.86 (%).Trend:Decrease 35.28% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 628.15 (%).Trend:Increase 137.16% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 325.12 (%).Trend:Decrease 48.24% than previous quarter

Overall: increasing (22.75%). 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 -115.7 (%).Trend:Decrease 29.07% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue -268.94 (%).Trend:Increase 132.45% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue -136.4 (%).Trend:Decrease 49.28% than previous quarter

Overall: decreasing (17.89%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio

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 -35.42 (%).Trend:Increase 8.22% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets -33.72 (%).Trend:Decrease 4.8% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets -33.34 (%).Trend:Decrease 1.13% than previous quarter

Overall: increasing (-5.87%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2022 Quarter 3: Earning Per Share -2.08 (USD).Trend:Increase 51.82% than previous quarter
Year 2023 Quarter 1: Earning Per Share -0.48 (USD).Trend:Decrease 76.92% than previous quarter
Year 2023 Quarter 2: Earning Per Share -0.87 (USD).Trend:Increase 81.25% than previous quarter

Overall: increasing (-58.17%). Fluctuation: **Significant** (high variation).



This financial statement analysis covers three quarters, from Q3 2022 to Q2 2023. Working capital efficiency demonstrates increasing, yet highly fluctuating, liabilities and current assets relative to revenue. Cost efficiency is marked by a decreasing ratio of retained earnings to revenue, also with significant variation. Investment efficiency shows a slight increase in retained earnings on assets, but with substantial fluctuation. Finally, earnings per share are decreasing overall, exhibiting significant volatility. The data highlights considerable instability across key financial metrics, suggesting a need for deeper analysis to understand the root causes of these trends.