Working Capital Efficiency
The data from Quater 3 in 2022 to Quater 2 in 2023 includes 3 quarters.

Liabilities on Revenue
Year 2022 Quarter 3: Liabilities on Revenue 39.67 (%).Trend:Decrease 30.2% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 107.41 (%).Trend:Increase 170.76% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 72.74 (%).Trend:Decrease 32.28% than previous quarter

Overall: increasing (83.36%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 71.96 (%).Trend:Decrease 28.05% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 179.62 (%).Trend:Increase 149.61% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 98.35 (%).Trend:Decrease 45.25% than previous quarter

Overall: increasing (36.67%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 3 in 2022 to Quater 2 in 2023 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 49.24 (%).Trend:Decrease 43.02% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 88.11 (%).Trend:Increase 78.94% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 41.43 (%).Trend:Decrease 52.98% than previous quarter

Overall: decreasing (-15.86%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 22.57 (%).Trend:Decrease 6.5% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 16.29 (%).Trend:Decrease 27.82% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 14.59 (%).Trend:Decrease 10.44% than previous quarter

Overall: decreasing (-35.36%). Fluctuation: **Neutral** (moderate variation).


Invest Efficiency
The data from Quater 3 in 2022 to Quater 2 in 2023 includes 3 quarters.

Retained Earning on Assets
Year 2022 Quarter 3: Retained Earning on Assets 6.98 (%).Trend:Decrease 11.76% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets 5.78 (%).Trend:Decrease 17.19% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 5.54 (%).Trend:Decrease 4.15% than previous quarter

Overall: decreasing (-20.63%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2022 Quarter 3: Earning Per Share -0.55 (USD).Trend:Increase 14.58% than previous quarter
Year 2023 Quarter 1: Earning Per Share -0.2 (USD).Trend:Decrease 63.64% than previous quarter
Year 2023 Quarter 2: Earning Per Share -0.19 (USD).Trend:Decrease 5.0% than previous quarter

Overall: increasing (-65.45%). Fluctuation: **Significant** (high variation).



Financial statement analysis from Q3 2022 to Q2 2023 shows significant volatility in key metrics.  Liabilities and current assets as a percentage of revenue demonstrate substantial fluctuations.  Cost efficiency data displays a consistent decrease in SG&A expense. However, the ratio of retained earnings to revenue displays highly variable trends. Investment efficiency consistently decreased retained earnings on assets. Earnings per share show significant fluctuation.