Working Capital Efficiency
The data from Quater 2 in 2022 to Quater 1 in 2023 includes 3 quarters.

Liabilities on Revenue
Year 2022 Quarter 2: Liabilities on Revenue 33.31 (%).Trend:Decrease 62.46% than previous quarter
Year 2022 Quarter 3: Liabilities on Revenue 25.62 (%).Trend:Decrease 23.09% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 80.78 (%).Trend:Increase 215.3% than previous quarter

Overall: increasing (142.51%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 2: Current assets on Revenue 163.55 (%).Trend:Decrease 62.68% than previous quarter
Year 2022 Quarter 3: Current assets on Revenue 118.49 (%).Trend:Decrease 27.55% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 350.78 (%).Trend:Increase 196.04% than previous quarter

Overall: increasing (114.48%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 2 in 2022 to Quater 1 in 2023 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 2: Ratio of Retained Earnings to Revenue 185.76 (%).Trend:Decrease 63.18% than previous quarter
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 120.05 (%).Trend:Decrease 35.37% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 253.51 (%).Trend:Increase 111.17% than previous quarter

Overall: increasing (36.47%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 33.92 (%).Trend:Decrease 23.05% than previous quarter
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 37.68 (%).Trend:Increase 11.08% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 32.92 (%).Trend:Decrease 12.63% than previous quarter

Overall: decreasing (-2.95%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 2 in 2022 to Quater 1 in 2023 includes 3 quarters.

Retained Earning on Assets
Year 2022 Quarter 2: Retained Earning on Assets 44.14 (%).Trend:Increase 1.08% than previous quarter
Year 2022 Quarter 3: Retained Earning on Assets 40.52 (%).Trend:Decrease 8.2% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets 35.8 (%).Trend:Decrease 11.65% than previous quarter

Overall: decreasing (-18.89%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2022 Quarter 2: Earning Per Share -0.64 (USD).Trend:Increase 23.08% than previous quarter
Year 2022 Quarter 3: Earning Per Share -1.14 (USD).Trend:Increase 78.12% than previous quarter
Year 2023 Quarter 1: Earning Per Share -0.01 (USD).Trend:Decrease 99.12% than previous quarter

Overall: increasing (-98.44%). Fluctuation: **Significant** (high variation).



Financial analysis from Q2 2022 to Q1 2023 suggests a mixed picture. Liabilities on revenue and current assets on revenue show marked increases, indicative of potential improvements in working capital management.  Cost efficiency, as measured by the ratio of retained earnings to revenue, exhibits a notable increase, although still showing significant fluctuations.  SG&A expenses decreased, potentially signifying cost-cutting initiatives. Investment efficiency decreased, and earnings per share continue a negative trend, though improved from prior quarters.