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 152.58 (%).Trend:Increase 334.82% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 74.01 (%).Trend:Decrease 51.49% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 27.31 (%).Trend:Decrease 63.1% than previous quarter

Overall: decreasing (-82.1%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 433.9 (%).Trend:Increase 198.89% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 205.69 (%).Trend:Decrease 52.6% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 133.07 (%).Trend:Decrease 35.31% than previous quarter

Overall: decreasing (-69.33%). 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 -322.99 (%).Trend:Increase 247.08% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue -156.4 (%).Trend:Decrease 51.58% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue -118.98 (%).Trend:Decrease 23.93% than previous quarter

Overall: increasing (-63.16%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 43.28 (%).Trend:Decrease 5.91% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 41.36 (%).Trend:Decrease 4.44% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 41.06 (%).Trend:Decrease 0.73% than previous quarter

Overall: decreasing (-5.13%). Fluctuation: **Little** (low variation).


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 -69.07 (%).Trend:Increase 28.6% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets -64.41 (%).Trend:Decrease 6.75% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets -75.43 (%).Trend:Increase 17.11% than previous quarter

Overall: decreasing (9.21%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share -0.1 (USD).Trend:Decrease 80.0% than previous quarter
Year 2023 Quarter 2: Earning Per Share -0.13 (USD).Trend:Increase 30.0% than previous quarter
Year 2023 Quarter 3: Earning Per Share -0.26 (USD).Trend:Increase 100.0% than previous quarter

Overall: decreasing (160.0%). Fluctuation: **Significant** (high variation).



Analysis of Q1-Q3 2023 financial statements reveals significant volatility in most metrics.  Liability-to-revenue ratios are decreasing, but with extreme quarter-over-quarter variations.  Current asset-to-revenue ratios show a similar pattern of decrease with high volatility.  The retained earnings-to-revenue ratio exhibits an increasing trend (although negative), also with substantial volatility. Conversely, the Selling, General, and Administrative (SG&A) expense ratio is decreasing steadily.  Investment efficiency, measured by retained earnings on assets, shows a negative trend but with sizable fluctuations.  Earnings per share are also consistently decreasing and highly variable. The findings point to considerable instability and require further investigation into underlying causes and potential corrective actions.