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 160.63 (%).Trend:Increase 311.66% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 90.41 (%).Trend:Decrease 43.72% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 68.27 (%).Trend:Decrease 24.49% than previous quarter

Overall: decreasing (-57.5%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 306.83 (%).Trend:Increase 249.46% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 155.28 (%).Trend:Decrease 49.39% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 111.53 (%).Trend:Decrease 28.17% than previous quarter

Overall: decreasing (-63.65%). 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 221.9 (%).Trend:Increase 195.24% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 96.14 (%).Trend:Decrease 56.67% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 61.56 (%).Trend:Decrease 35.97% than previous quarter

Overall: decreasing (-72.26%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 13.3 (%).Trend:Decrease 0.37% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 12.97 (%).Trend:Decrease 2.48% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 11.9 (%).Trend:Decrease 8.25% than previous quarter

Overall: decreasing (-10.53%). 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 54.8 (%).Trend:Decrease 10.94% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 48.85 (%).Trend:Decrease 10.86% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 45.01 (%).Trend:Decrease 7.86% than previous quarter

Overall: decreasing (-17.86%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.1 (USD).Trend:Decrease 76.19% than previous quarter
Year 2023 Quarter 2: Earning Per Share 0.81 (USD).Trend:Increase 710.0% than previous quarter
Year 2023 Quarter 3: Earning Per Share 2.37 (USD).Trend:Increase 192.59% than previous quarter

Overall: increasing (2270.0%). Fluctuation: **Significant** (high variation).



Financial analysis of Q1 to Q3 2023 shows several concerning trends. Working capital efficiency shows a declining trend with substantial fluctuations. Liabilities and current assets on revenue display significant decreases.  Cost efficiency (retained earnings to revenue) is also decreasing sharply, but fluctuates significantly. The SG&A expense ratio shows a steady decrease. Investment efficiency shows a continuous decline in retained earnings on assets, with minor fluctuation. Earnings per share exhibits significant increases and decreases over the three quarters.