Working Capital Efficiency
The data from Quater 1 in 2022 to Quater 3 in 2022 includes 3 quarters.

Liabilities on Revenue
Year 2022 Quarter 1: Liabilities on Revenue 83.46 (%).Trend:Increase 100.05% than previous quarter
Year 2022 Quarter 2: Liabilities on Revenue 40.7 (%).Trend:Decrease 51.23% than previous quarter
Year 2022 Quarter 3: Liabilities on Revenue 29.49 (%).Trend:Decrease 27.54% than previous quarter

Overall: decreasing (-64.67%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 1: Current assets on Revenue 409.93 (%).Trend:Increase 88.95% than previous quarter
Year 2022 Quarter 2: Current assets on Revenue 197.0 (%).Trend:Decrease 51.94% than previous quarter
Year 2022 Quarter 3: Current assets on Revenue 134.91 (%).Trend:Decrease 31.52% than previous quarter

Overall: decreasing (-67.09%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 1 in 2022 to Quater 3 in 2022 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 1: Ratio of Retained Earnings to Revenue -1120.7 (%).Trend:Increase 138.24% than previous quarter
Year 2022 Quarter 2: Ratio of Retained Earnings to Revenue -540.63 (%).Trend:Decrease 51.76% than previous quarter
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue -377.66 (%).Trend:Decrease 30.14% than previous quarter

Overall: increasing (-66.3%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 44.44 (%).Trend:Decrease 5.14% than previous quarter
Year 2022 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 35.74 (%).Trend:Decrease 19.58% than previous quarter
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 36.83 (%).Trend:Increase 3.05% than previous quarter

Overall: decreasing (-17.12%). Fluctuation: **Neutral** (moderate variation).


Invest Efficiency
The data from Quater 1 in 2022 to Quater 3 in 2022 includes 3 quarters.

Retained Earning on Assets
Year 2022 Quarter 1: Retained Earning on Assets -168.34 (%).Trend:Increase 1.47% than previous quarter
Year 2022 Quarter 2: Retained Earning on Assets -169.68 (%).Trend:Increase 0.8% than previous quarter
Year 2022 Quarter 3: Retained Earning on Assets -173.7 (%).Trend:Increase 2.37% than previous quarter

Overall: decreasing (3.18%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2022 Quarter 1: Earning Per Share -0.13 (USD).Trend:Decrease 23.53% than previous quarter
Year 2022 Quarter 2: Earning Per Share -0.17 (USD).Trend:Increase 30.77% than previous quarter
Year 2022 Quarter 3: Earning Per Share -0.32 (USD).Trend:Increase 88.24% than previous quarter

Overall: decreasing (146.15%). Fluctuation: **Significant** (high variation).



The Q1-Q3 2022 financial statement analysis reveals significant variability in key performance indicators.  Working capital efficiency metrics (liabilities and current assets on revenue) decreased substantially. Cost efficiency, as indicated by the ratio of retained earnings to revenue, increased despite negative values and large fluctuations. SG&A expense ratio decreased moderately.  Investment efficiency (retained earnings on assets and earnings per share) decreased considerably.