Working Capital Efficiency
The data from Quater 2 in 2022 to Quater 1 in 2023 includes 3 quarters.

Liabilities on Revenue
Year 2022 Quarter 2: Liabilities on Revenue 33.54 (%).Trend:Decrease 46.8% than previous quarter
Year 2022 Quarter 3: Liabilities on Revenue 23.73 (%).Trend:Decrease 29.25% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 277.76 (%).Trend:Increase 1070.5% than previous quarter

Overall: increasing (728.15%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 2: Current assets on Revenue 58.26 (%).Trend:Decrease 50.06% than previous quarter
Year 2022 Quarter 3: Current assets on Revenue 38.91 (%).Trend:Decrease 33.21% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 511.24 (%).Trend:Increase 1213.9% than previous quarter

Overall: increasing (777.51%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 2 in 2022 to Quater 1 in 2023 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 2: Ratio of Retained Earnings to Revenue 8.43 (%).Trend:Decrease 41.21% than previous quarter
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 6.89 (%).Trend:Decrease 18.27% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 76.5 (%).Trend:Increase 1010.3% than previous quarter

Overall: increasing (807.47%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 15.6 (%).Trend:Decrease 0.83% than previous quarter
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 15.18 (%).Trend:Decrease 2.69% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 19.83 (%).Trend:Increase 30.63% than previous quarter

Overall: increasing (27.12%). Fluctuation: **Neutral** (moderate variation).


Invest Efficiency
The data from Quater 2 in 2022 to Quater 1 in 2023 includes 3 quarters.

Retained Earning on Assets
Year 2022 Quarter 2: Retained Earning on Assets 4.53 (%).Trend:Increase 17.36% than previous quarter
Year 2022 Quarter 3: Retained Earning on Assets 5.56 (%).Trend:Increase 22.74% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets 7.17 (%).Trend:Increase 28.96% than previous quarter

Overall: increasing (58.28%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2022 Quarter 2: Earning Per Share 0.93 (USD).Trend:Increase 93.75% than previous quarter
Year 2022 Quarter 3: Earning Per Share 1.48 (USD).Trend:Increase 59.14% than previous quarter
Year 2023 Quarter 1: Earning Per Share 0.47 (USD).Trend:Decrease 68.24% than previous quarter

Overall: decreasing (-49.46%). Fluctuation: **Significant** (high variation).



Financial analysis reveals significant volatility in working capital efficiency. Liabilities on revenue experienced a sharp decrease in Q2 and Q3 of 2022, followed by a dramatic rise in Q1 2023.  Current assets on revenue also displayed comparable volatility. Cost efficiency metrics demonstrate an overall upward trend in the ratio of retained earnings to revenue, however with high fluctuations.  The SG&A expense ratio exhibited a less volatile, steady increase. Investment efficiency metrics show a consistent upward trend in retained earnings on assets.  Earnings per share, however, displayed significant variations including a decrease in Q1 2023.  These results highlight the need for caution in interpreting short-term trends and for further investigation into the underlying reasons for these fluctuations.