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 74.0 (%).Trend:Increase 281.64% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 32.62 (%).Trend:Decrease 55.92% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 37.05 (%).Trend:Increase 13.58% than previous quarter

Overall: decreasing (-49.93%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 266.13 (%).Trend:Increase 267.84% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 109.93 (%).Trend:Decrease 58.69% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 65.0 (%).Trend:Decrease 40.87% than previous quarter

Overall: decreasing (-75.58%). 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 87.56 (%).Trend:Increase 316.56% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 38.28 (%).Trend:Decrease 56.28% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 17.1 (%).Trend:Decrease 55.33% than previous quarter

Overall: decreasing (-80.47%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 14.04 (%).Trend:Increase 12.32% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 12.8 (%).Trend:Decrease 8.83% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 12.84 (%).Trend:Increase 0.31% than previous quarter

Overall: decreasing (-8.55%). 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 12.46 (%).Trend:Increase 19.23% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 12.91 (%).Trend:Increase 3.61% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 9.07 (%).Trend:Decrease 29.74% than previous quarter

Overall: decreasing (-27.21%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 1.0 (USD).Trend:Decrease 36.71% than previous quarter
Year 2023 Quarter 2: Earning Per Share 1.0 (USD).Trend:Increase 0.0% than previous quarter
Year 2023 Quarter 3: Earning Per Share 1.0 (USD).Trend:Increase 0.0% than previous quarter

Overall: stable (0.0%). Fluctuation: **Little** (low variation).



Financial analysis for Q1 2023 to Q3 2023 reveals a concerning trend of decreasing performance across most metrics.  Working capital efficiency, particularly liabilities and current assets on revenue, is declining significantly.  Cost efficiency, measured by the retained earnings-to-revenue ratio, also reveals a dramatic decrease.  Investment efficiency, represented by retained earnings on assets, shows a moderate decrease.  However, selling, general, and administrative (SG&A) expenses are showing a relatively stable decrease, while earnings per share remain stable. These results indicate a need for immediate financial review and potential corrective action.