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 33.4 (%).Trend:Decrease 48.99% than previous quarter
Year 2022 Quarter 3: Liabilities on Revenue 21.98 (%).Trend:Decrease 34.19% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 64.09 (%).Trend:Increase 191.58% than previous quarter

Overall: increasing (91.89%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 2: Current assets on Revenue 39.34 (%).Trend:Decrease 48.45% than previous quarter
Year 2022 Quarter 3: Current assets on Revenue 26.57 (%).Trend:Decrease 32.46% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 83.18 (%).Trend:Increase 213.06% than previous quarter

Overall: increasing (111.44%). 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 25.5 (%).Trend:Decrease 47.6% than previous quarter
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 17.62 (%).Trend:Decrease 30.9% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 54.25 (%).Trend:Increase 207.89% than previous quarter

Overall: increasing (112.75%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 8.08 (%).Trend:Increase 2.15% than previous quarter
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 8.08 (%).Trend:Increase 0.0% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 7.56 (%).Trend:Decrease 6.44% than previous quarter

Overall: decreasing (-6.44%). 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 21.32 (%).Trend:Increase 1.96% than previous quarter
Year 2022 Quarter 3: Retained Earning on Assets 22.17 (%).Trend:Increase 3.99% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets 21.97 (%).Trend:Decrease 0.9% than previous quarter

Overall: increasing (3.05%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2022 Quarter 2: Earning Per Share 1.85 (USD).Trend:Increase 65.18% than previous quarter
Year 2022 Quarter 3: Earning Per Share 2.7 (USD).Trend:Increase 45.95% than previous quarter
Year 2023 Quarter 1: Earning Per Share 0.58 (USD).Trend:Decrease 78.52% than previous quarter

Overall: decreasing (-68.65%). Fluctuation: **Significant** (high variation).



Financial analysis from Q2 2022 to Q1 2023 reveals a complex pattern. Working capital efficiency experienced significant, though fluctuating, increases in both liabilities and current assets on revenue. Cost efficiency, as measured by the ratio of retained earnings to revenue, also increased substantially with substantial variation. The SG&A expense ratio slightly decreased. Investment efficiency remained consistent with a slight increase in retained earnings on assets. Earnings per share displayed substantial volatility, decreasing dramatically in Q1 2023. This instability warrants careful review.