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 45.54 (%).Trend:Decrease 36.07% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 129.62 (%).Trend:Increase 184.63% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 63.15 (%).Trend:Decrease 51.28% than previous quarter

Overall: increasing (38.67%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 73.67 (%).Trend:Decrease 33.08% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 219.62 (%).Trend:Increase 198.11% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 103.78 (%).Trend:Decrease 52.75% than previous quarter

Overall: increasing (40.87%). 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 -28.87 (%).Trend:Decrease 37.82% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue -71.81 (%).Trend:Increase 148.74% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue -31.0 (%).Trend:Decrease 56.83% than previous quarter

Overall: decreasing (7.38%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 21.68 (%).Trend:Decrease 4.45% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 20.29 (%).Trend:Decrease 6.41% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 19.55 (%).Trend:Decrease 3.65% than previous quarter

Overall: decreasing (-9.82%). Fluctuation: **Little** (low 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 -17.07 (%).Trend:Decrease 1.78% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets -15.05 (%).Trend:Decrease 11.83% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets -13.91 (%).Trend:Decrease 7.57% than previous quarter

Overall: increasing (-18.51%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2022 Quarter 3: Earning Per Share 0.13 (USD).Trend:Increase 62.5% than previous quarter
Year 2023 Quarter 1: Earning Per Share 0.13 (USD).Trend:Increase 0.0% than previous quarter
Year 2023 Quarter 2: Earning Per Share 0.35 (USD).Trend:Increase 169.23% than previous quarter

Overall: increasing (169.23%). Fluctuation: **Significant** (high variation).



Financial analysis from Q3 2022 to Q2 2023 reveals significant fluctuations in working capital efficiency. Liabilities on revenue increased dramatically in Q1 2023, then decreased in Q2 2023, while current assets on revenue followed a similar, highly variable trend.  Cost efficiency shows a marked decrease in the ratio of retained earnings to revenue, while SG&A expense ratio consistently decreased.  Investment efficiency shows a mildly increasing trend in retained earnings on assets with substantial variability. Finally, earnings per share demonstrate an increase that saw a large jump in Q2 2023.