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 45.15 (%).Trend:Increase 171.99% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 23.38 (%).Trend:Decrease 48.22% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 16.3 (%).Trend:Decrease 30.28% than previous quarter

Overall: decreasing (-63.9%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 156.33 (%).Trend:Increase 155.61% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 77.56 (%).Trend:Decrease 50.39% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 52.34 (%).Trend:Decrease 32.52% than previous quarter

Overall: decreasing (-66.52%). 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 85.26 (%).Trend:Increase 152.92% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 42.43 (%).Trend:Decrease 50.23% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 29.0 (%).Trend:Decrease 31.65% than previous quarter

Overall: decreasing (-65.99%). Fluctuation: **Significant** (high variation).

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

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 35.04 (%).Trend:Decrease 3.26% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 35.55 (%).Trend:Increase 1.46% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 36.37 (%).Trend:Increase 2.31% than previous quarter

Overall: increasing (3.8%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.66 (USD).Trend:Decrease 57.96% than previous quarter
Year 2023 Quarter 2: Earning Per Share 2.14 (USD).Trend:Increase 224.24% than previous quarter
Year 2023 Quarter 3: Earning Per Share 3.97 (USD).Trend:Increase 85.51% than previous quarter

Overall: increasing (501.52%). Fluctuation: **Significant** (high variation).



Financial analysis of Q1 2023 to Q3 2023 reveals significant declines in working capital efficiency, cost efficiency, and earnings variability.  Liabilities on revenue, current assets on revenue, and the ratio of retained earnings to revenue all show substantial decreases across the period. Earnings per share show significant volatility, with large gains and losses, while investment efficiency (retained earnings on assets) shows a modest overall increase. The analysis strongly suggests urgent attention is needed for the significant negative trends.