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 203.25 (%).Trend:Increase 227.51% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 102.34 (%).Trend:Decrease 49.65% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 67.92 (%).Trend:Decrease 33.63% than previous quarter

Overall: decreasing (-66.58%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 269.17 (%).Trend:Increase 186.38% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 131.39 (%).Trend:Decrease 51.19% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 86.56 (%).Trend:Decrease 34.12% than previous quarter

Overall: decreasing (-67.84%). 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 -178.18 (%).Trend:Increase 148.33% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue -81.26 (%).Trend:Decrease 54.39% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue -49.58 (%).Trend:Decrease 38.99% than previous quarter

Overall: increasing (-72.17%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 11.46 (%).Trend:Decrease 6.3% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 11.23 (%).Trend:Decrease 2.01% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 10.59 (%).Trend:Decrease 5.7% than previous quarter

Overall: decreasing (-7.59%). 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 -29.07 (%).Trend:Decrease 11.91% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets -27.09 (%).Trend:Decrease 6.81% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets -25.33 (%).Trend:Decrease 6.5% than previous quarter

Overall: increasing (-12.87%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.57 (USD).Trend:Decrease 171.25% than previous quarter
Year 2023 Quarter 2: Earning Per Share 0.98 (USD).Trend:Increase 71.93% than previous quarter
Year 2023 Quarter 3: Earning Per Share 1.49 (USD).Trend:Increase 52.04% than previous quarter

Overall: increasing (161.4%). Fluctuation: **Significant** (high variation).



The financial analysis from Q1 to Q3 2023 indicates declining working capital efficiency, with significant volatility in liabilities and current assets on revenue. Cost efficiency shows a pronounced decreasing trend in the retained earnings to revenue ratio, despite some fluctuations.  SG&A expense ratio shows a steady, small decrease.  Investment efficiency and earnings per share exhibit significant fluctuations, but indicate overall increasing trends.