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 81.92 (%).Trend:Increase 194.99% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 42.96 (%).Trend:Decrease 47.56% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 27.74 (%).Trend:Decrease 35.43% than previous quarter

Overall: decreasing (-66.14%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 159.95 (%).Trend:Increase 191.77% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 76.5 (%).Trend:Decrease 52.17% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 52.15 (%).Trend:Decrease 31.83% than previous quarter

Overall: decreasing (-67.4%). 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 334.39 (%).Trend:Increase 182.57% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 168.02 (%).Trend:Decrease 49.75% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 114.71 (%).Trend:Decrease 31.73% than previous quarter

Overall: decreasing (-65.7%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 11.84 (%).Trend:Increase 9.73% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 11.24 (%).Trend:Decrease 5.07% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 10.94 (%).Trend:Decrease 2.67% than previous quarter

Overall: decreasing (-7.6%). 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 45.01 (%).Trend:Increase 1.01% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 46.04 (%).Trend:Increase 2.29% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 46.28 (%).Trend:Increase 0.52% than previous quarter

Overall: increasing (2.82%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.68 (USD).Trend:Decrease 51.77% than previous quarter
Year 2023 Quarter 2: Earning Per Share 1.64 (USD).Trend:Increase 141.18% than previous quarter
Year 2023 Quarter 3: Earning Per Share 2.7 (USD).Trend:Increase 64.63% than previous quarter

Overall: increasing (297.06%). Fluctuation: **Significant** (high variation).



Financial analysis for Q1-Q3 2023 reveals a clear trend of decreasing working capital efficiency, as both liabilities and current assets on revenue decline significantly. Cost efficiency metrics, specifically the ratio of retained earnings to revenue, also decrease sharply over the three quarters.  The Selling, General & Administrative (SG&A) expense ratio trends downward, though with less volatility.  Conversely, retained earnings on assets show a stable, incremental increase.  Earning per share displays substantial fluctuations, rising from Q1 to Q3 2023.