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 78.58 (%).Trend:Increase 57.79% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 46.31 (%).Trend:Decrease 41.07% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 30.36 (%).Trend:Decrease 34.44% than previous quarter

Overall: decreasing (-61.36%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 220.21 (%).Trend:Increase 100.21% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 116.46 (%).Trend:Decrease 47.11% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 74.36 (%).Trend:Decrease 36.15% than previous quarter

Overall: decreasing (-66.23%). 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 228.4 (%).Trend:Increase 138.59% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 108.05 (%).Trend:Decrease 52.69% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 66.93 (%).Trend:Decrease 38.06% than previous quarter

Overall: decreasing (-70.7%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 8.89 (%).Trend:Decrease 11.1% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 8.52 (%).Trend:Decrease 4.16% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 8.26 (%).Trend:Decrease 3.05% than previous quarter

Overall: decreasing (-7.09%). 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 40.62 (%).Trend:Increase 7.72% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 38.96 (%).Trend:Decrease 4.09% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 38.76 (%).Trend:Decrease 0.51% than previous quarter

Overall: decreasing (-4.58%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share -0.14 (USD).Trend:Decrease 86.92% than previous quarter
Year 2023 Quarter 2: Earning Per Share -0.02 (USD).Trend:Decrease 85.71% than previous quarter
Year 2023 Quarter 3: Earning Per Share 0.36 (USD).Trend:Decrease 1900.0% than previous quarter

Overall: increasing (-357.14%). Fluctuation: **Significant** (high variation).



Financial analysis for Q1 2023 to Q3 2023 shows substantial volatility across key metrics. Liabilities and current assets on revenue exhibit significant downward trends, indicating decreasing working capital efficiency.  The ratio of retained earnings to revenue decreased substantially from Q1 to Q3. Investment efficiency remained stable, with a slight decrease.  Earnings per share increased dramatically and then decreased significantly in Q3.  Overall, the data suggest a volatile financial performance with significant fluctuation in short-term trends.