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 87.99 (%).Trend:Increase 0.66% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 41.73 (%).Trend:Decrease 52.57% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 28.0 (%).Trend:Decrease 32.9% than previous quarter

Overall: decreasing (-68.18%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 252.47 (%).Trend:Increase 44.88% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 125.84 (%).Trend:Decrease 50.16% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 86.13 (%).Trend:Decrease 31.56% than previous quarter

Overall: decreasing (-65.89%). 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 94.74 (%).Trend:Increase 74.15% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 43.94 (%).Trend:Decrease 53.62% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 29.31 (%).Trend:Decrease 33.3% than previous quarter

Overall: decreasing (-69.06%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 20.83 (%).Trend:Increase 41.32% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 20.41 (%).Trend:Decrease 2.02% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 19.74 (%).Trend:Decrease 3.28% than previous quarter

Overall: decreasing (-5.23%). 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 9.21 (%).Trend:Decrease 45.89% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 8.45 (%).Trend:Decrease 8.25% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 8.21 (%).Trend:Decrease 2.84% than previous quarter

Overall: decreasing (-10.86%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share -0.56 (USD).Trend:Decrease 142.42% than previous quarter
Year 2023 Quarter 2: Earning Per Share -1.14 (USD).Trend:Increase 103.57% than previous quarter
Year 2023 Quarter 3: Earning Per Share -1.38 (USD).Trend:Increase 21.05% than previous quarter

Overall: decreasing (146.43%). Fluctuation: **Significant** (high variation).



Financial analysis of Q1, Q2, and Q3 2023 shows significant fluctuations in key metrics. Liabilities on revenue decreased by -68.18% overall, while current assets on revenue decreased by -65.89% with significant volatility between quarters.  Cost efficiency, measured by the ratio of retained earnings to revenue, declined by -69.06%, showing notable variation.  SG&A expense ratio shows a decrease (-5.23%) with little variation. Invest efficiency (retained earning on assets) decreased by -10.86% with little variation. Earnings per share decreased substantially (146.43%) during the period.