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 143.25 (%).Trend:Increase 250.59% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 59.88 (%).Trend:Decrease 58.2% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 38.28 (%).Trend:Decrease 36.07% than previous quarter

Overall: decreasing (-73.28%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 111.35 (%).Trend:Increase 229.54% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 54.95 (%).Trend:Decrease 50.65% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 37.13 (%).Trend:Decrease 32.43% than previous quarter

Overall: decreasing (-66.65%). 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 217.43 (%).Trend:Increase 186.73% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 105.14 (%).Trend:Decrease 51.64% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 72.23 (%).Trend:Decrease 31.3% than previous quarter

Overall: decreasing (-66.78%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 25.53 (%).Trend:Increase 121.61% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 17.92 (%).Trend:Decrease 29.81% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 15.73 (%).Trend:Decrease 12.22% than previous quarter

Overall: decreasing (-38.39%). Fluctuation: **Neutral** (moderate 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 28.42 (%).Trend:Decrease 2.24% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 29.16 (%).Trend:Increase 2.6% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 29.93 (%).Trend:Increase 2.64% than previous quarter

Overall: increasing (5.31%). Fluctuation: **Little** (low variation).

Earning Per Share


Financial statements for Q1 to Q3 2023 reveal a significant downward trend in working capital efficiency, cost efficiency, and the ratio of retained earnings to revenue.  Liabilities and current assets on revenue, as well as the ratio of retained earnings to revenue, all decreased substantially. While the SG&A expense ratio also decreased, the decrease was less pronounced, suggesting a neutral fluctuation. Conversely, investment efficiency showed a slight positive increase, which may represent a contrasting strategy or cost-cutting measure, warranting further investigation.