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 23.16 (%).Trend:Decrease 45.68% than previous quarter
Year 2022 Quarter 3: Liabilities on Revenue 12.5 (%).Trend:Decrease 46.03% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 46.47 (%).Trend:Increase 271.76% than previous quarter

Overall: increasing (100.65%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 2: Current assets on Revenue 30.71 (%).Trend:Decrease 53.11% than previous quarter
Year 2022 Quarter 3: Current assets on Revenue 15.67 (%).Trend:Decrease 48.97% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 58.76 (%).Trend:Increase 274.98% than previous quarter

Overall: increasing (91.34%). 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 8.77 (%).Trend:Decrease 54.91% than previous quarter
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 5.74 (%).Trend:Decrease 34.55% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 18.99 (%).Trend:Increase 230.84% than previous quarter

Overall: increasing (116.53%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 5.26 (%).Trend:Decrease 6.07% than previous quarter
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 5.13 (%).Trend:Decrease 2.47% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 7.23 (%).Trend:Increase 40.94% than previous quarter

Overall: increasing (37.45%). Fluctuation: **Neutral** (moderate variation).


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 11.35 (%).Trend:Decrease 0.26% than previous quarter
Year 2022 Quarter 3: Retained Earning on Assets 12.64 (%).Trend:Increase 11.37% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets 10.83 (%).Trend:Decrease 14.32% than previous quarter

Overall: decreasing (-4.58%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2022 Quarter 2: Earning Per Share -0.24 (USD).Trend:Increase 4.35% than previous quarter
Year 2022 Quarter 3: Earning Per Share -0.17 (USD).Trend:Decrease 29.17% than previous quarter
Year 2023 Quarter 1: Earning Per Share -0.17 (USD).Trend:Increase 0.0% than previous quarter

Overall: increasing (-29.17%). Fluctuation: **Significant** (high variation).



Financial statements from Q2 2022 to Q1 2023 show a mixed picture of financial health.  While working capital efficiency (liabilities and current assets on revenue) is increasing, this growth is significantly volatile. Cost efficiency (retained earnings to revenue and SG&A) is also improving but with high variability.  Conversely, investment efficiency (retained earnings on assets) is trending downwards, with a lesser degree of fluctuation.  Earnings per share remain consistently negative, yet display significant variability.