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 81.92 (%).Trend:Increase 194.99% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 42.96 (%).Trend:Decrease 47.56% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 27.74 (%).Trend:Decrease 35.43% than previous quarter

Overall: decreasing (-66.14%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 159.95 (%).Trend:Increase 191.77% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 76.5 (%).Trend:Decrease 52.17% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 52.15 (%).Trend:Decrease 31.83% than previous quarter

Overall: decreasing (-67.4%). 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 334.39 (%).Trend:Increase 182.57% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 168.02 (%).Trend:Decrease 49.75% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 114.71 (%).Trend:Decrease 31.73% than previous quarter

Overall: decreasing (-65.7%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 11.84 (%).Trend:Increase 9.73% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 11.24 (%).Trend:Decrease 5.07% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 10.94 (%).Trend:Decrease 2.67% than previous quarter

Overall: decreasing (-7.6%). 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 45.01 (%).Trend:Increase 1.01% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 46.04 (%).Trend:Increase 2.29% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 46.28 (%).Trend:Increase 0.52% than previous quarter

Overall: increasing (2.82%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.68 (USD).Trend:Decrease 51.77% than previous quarter
Year 2023 Quarter 2: Earning Per Share 1.64 (USD).Trend:Increase 141.18% than previous quarter
Year 2023 Quarter 3: Earning Per Share 2.7 (USD).Trend:Increase 64.63% than previous quarter

Overall: increasing (297.06%). Fluctuation: **Significant** (high variation).



Financial analysis of Q1 2023 to Q3 2023 reveals a downward trend in working capital efficiency, as both liabilities and current assets on revenue decreased significantly.  Cost efficiency metrics (ratio of retained earnings to revenue) also show a consistent decline.  Conversely, the Selling, General & Administrative (SG&A) Expense Ratio exhibits a slight, steady decrease.  Investment efficiency remains stable and displays a moderate increase in retained earnings on assets.  Earning Per Share demonstrates substantial fluctuations, increasing from Q1 to Q3 of 2023.