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 59.36 (%).Trend:Increase 164.17% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 33.8 (%).Trend:Decrease 43.06% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 22.12 (%).Trend:Decrease 34.56% than previous quarter

Overall: decreasing (-62.74%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 117.36 (%).Trend:Increase 174.01% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 60.92 (%).Trend:Decrease 48.09% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 40.54 (%).Trend:Decrease 33.45% than previous quarter

Overall: decreasing (-65.46%). 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 58.27 (%).Trend:Increase 187.47% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 29.05 (%).Trend:Decrease 50.15% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 19.78 (%).Trend:Decrease 31.91% than previous quarter

Overall: decreasing (-66.05%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio

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 17.64 (%).Trend:Decrease 2.27% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 16.98 (%).Trend:Decrease 3.74% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 18.19 (%).Trend:Increase 7.13% than previous quarter

Overall: increasing (3.12%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.04 (USD).Trend:Decrease 75.0% than previous quarter
Year 2023 Quarter 2: Earning Per Share -0.07 (USD).Trend:Decrease 275.0% than previous quarter
Year 2023 Quarter 3: Earning Per Share 0.35 (USD).Trend:Decrease 600.0% than previous quarter

Overall: increasing (775.0%). Fluctuation: **Significant** (high variation).



Financial analysis of Q1 2023 to Q3 2023 reveals significant fluctuations in working capital efficiency metrics. Liabilities and current assets on revenue exhibit substantial, volatile decreases. Cost efficiency, as measured by the ratio of retained earnings to revenue, also shows significant declines.  Investment efficiency, measured by retained earnings on assets, displays little fluctuation, while earning per share shows a substantial increase, though with large quarter-to-quarter variability.  Overall, the financial performance of the analyzed period is characterized by substantial volatility across several key metrics.