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 33.35 (%).Trend:Decrease 58.39% than previous quarter
Year 2022 Quarter 3: Liabilities on Revenue 19.16 (%).Trend:Decrease 42.55% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 73.76 (%).Trend:Increase 284.97% than previous quarter

Overall: increasing (121.17%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 2: Current assets on Revenue 60.15 (%).Trend:Decrease 52.06% than previous quarter
Year 2022 Quarter 3: Current assets on Revenue 31.83 (%).Trend:Decrease 47.08% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 122.33 (%).Trend:Increase 284.32% than previous quarter

Overall: increasing (103.37%). 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 73.49 (%).Trend:Decrease 43.97% than previous quarter
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 56.03 (%).Trend:Decrease 23.76% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 297.44 (%).Trend:Increase 430.86% than previous quarter

Overall: increasing (304.74%). Fluctuation: **Significant** (high variation).

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

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 16.76 (%).Trend:Increase 25.45% than previous quarter
Year 2022 Quarter 3: Retained Earning on Assets 20.37 (%).Trend:Increase 21.54% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets 24.21 (%).Trend:Increase 18.85% than previous quarter

Overall: increasing (44.45%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2022 Quarter 2: Earning Per Share 2.28 (USD).Trend:Increase 204.0% than previous quarter
Year 2022 Quarter 3: Earning Per Share 3.78 (USD).Trend:Increase 65.79% than previous quarter
Year 2023 Quarter 1: Earning Per Share 0.88 (USD).Trend:Decrease 76.72% than previous quarter

Overall: decreasing (-61.4%). Fluctuation: **Significant** (high variation).



Financial analysis of Q2 2022 to Q1 2023 indicates significant increases in working capital efficiency.  Liabilities and current assets on revenue both increased, but with high variation. Cost efficiency (ratio of retained earnings to revenue) also increased substantially, again with high variability. Earnings per share decreased markedly, while investment efficiency continued to show a notable and steady rise.