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 66.58 (%).Trend:Increase 167.5% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 32.66 (%).Trend:Decrease 50.95% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 20.96 (%).Trend:Decrease 35.82% than previous quarter

Overall: decreasing (-68.52%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 179.02 (%).Trend:Increase 226.5% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 82.67 (%).Trend:Decrease 53.82% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 53.62 (%).Trend:Decrease 35.14% than previous quarter

Overall: decreasing (-70.05%). 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 111.84 (%).Trend:Increase 220.0% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 47.81 (%).Trend:Decrease 57.25% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 28.17 (%).Trend:Decrease 41.08% than previous quarter

Overall: decreasing (-74.81%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 14.16 (%).Trend:Increase 28.26% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 14.85 (%).Trend:Increase 4.87% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 15.64 (%).Trend:Increase 5.32% than previous quarter

Overall: increasing (10.45%). 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 38.79 (%).Trend:Decrease 1.3% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 35.79 (%).Trend:Decrease 7.73% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 32.45 (%).Trend:Decrease 9.33% than previous quarter

Overall: decreasing (-16.34%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share -0.47 (USD).Trend:Decrease 304.35% than previous quarter
Year 2023 Quarter 2: Earning Per Share -1.0 (USD).Trend:Increase 112.77% than previous quarter
Year 2023 Quarter 3: Earning Per Share -2.0 (USD).Trend:Increase 100.0% than previous quarter

Overall: decreasing (325.53%). Fluctuation: **Significant** (high variation).



Financial results from Q1 2023 to Q3 2023 show significant volatility. Liabilities and current assets on revenue declined substantially during this period, with high fluctuation. The ratio of retained earnings to revenue also reveals a notable overall decrease.  Conversely, selling, general, and administrative (SG&A) expenses increased. Investment efficiency (retained earnings on assets) declined slightly. Earnings per share decreased dramatically across all quarters. The significant fluctuations suggest potential operational challenges or a significant strategic shift.