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 66.58 (%).Trend:Increase 167.5% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 32.66 (%).Trend:Decrease 50.95% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 20.96 (%).Trend:Decrease 35.82% than previous quarter

Overall: decreasing (-68.52%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 179.02 (%).Trend:Increase 226.5% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 82.67 (%).Trend:Decrease 53.82% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 53.62 (%).Trend:Decrease 35.14% than previous quarter

Overall: decreasing (-70.05%). 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 111.84 (%).Trend:Increase 220.0% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 47.81 (%).Trend:Decrease 57.25% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 28.17 (%).Trend:Decrease 41.08% than previous quarter

Overall: decreasing (-74.81%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 14.16 (%).Trend:Increase 28.26% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 14.85 (%).Trend:Increase 4.87% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 15.64 (%).Trend:Increase 5.32% than previous quarter

Overall: increasing (10.45%). 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 38.79 (%).Trend:Decrease 1.3% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 35.79 (%).Trend:Decrease 7.73% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 32.45 (%).Trend:Decrease 9.33% than previous quarter

Overall: decreasing (-16.34%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share -0.47 (USD).Trend:Decrease 304.35% than previous quarter
Year 2023 Quarter 2: Earning Per Share -1.0 (USD).Trend:Increase 112.77% than previous quarter
Year 2023 Quarter 3: Earning Per Share -2.0 (USD).Trend:Increase 100.0% than previous quarter

Overall: decreasing (325.53%). Fluctuation: **Significant** (high variation).



Financial results from Q1 2023 to Q3 2023 indicate a volatile period.  Liabilities and current assets on revenue declined significantly, with substantial quarter-to-quarter fluctuations. The ratio of retained earnings to revenue shows a steep overall decrease, reflecting high volatility. In contrast, selling, general, and administrative (SG&A) expenses demonstrate a moderate increase. Retained earnings on assets decreased slightly, though the trend is less volatile than other key metrics.  Earnings per share also showed a substantial and negative overall trend, indicating a decrease, with high variation.  The notable volatility across most metrics suggests significant operational or strategic changes.