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 67.4 (%).Trend:Increase 243.53% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 30.97 (%).Trend:Decrease 54.05% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 19.39 (%).Trend:Decrease 37.39% than previous quarter

Overall: decreasing (-71.23%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 240.98 (%).Trend:Increase 288.24% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 107.63 (%).Trend:Decrease 55.34% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 68.04 (%).Trend:Decrease 36.78% than previous quarter

Overall: decreasing (-71.77%). 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 117.98 (%).Trend:Increase 302.39% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 51.2 (%).Trend:Decrease 56.6% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 33.53 (%).Trend:Decrease 34.51% than previous quarter

Overall: decreasing (-71.58%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 27.29 (%).Trend:Increase 31.64% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 22.96 (%).Trend:Decrease 15.87% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 21.41 (%).Trend:Decrease 6.75% than previous quarter

Overall: decreasing (-21.55%). Fluctuation: **Neutral** (moderate 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 22.93 (%).Trend:Decrease 0.52% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 23.48 (%).Trend:Increase 2.4% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 25.09 (%).Trend:Increase 6.86% than previous quarter

Overall: increasing (9.42%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share -0.16 (USD).Trend:Decrease 105.54% than previous quarter
Year 2023 Quarter 2: Earning Per Share 0.76 (USD).Trend:Decrease 575.0% than previous quarter
Year 2023 Quarter 3: Earning Per Share 2.34 (USD).Trend:Increase 207.89% than previous quarter

Overall: increasing (-1562.5%). Fluctuation: **Significant** (high variation).



Financial statements from Q1 to Q3 of 2023 reveal a mixed picture of financial health.  Working capital efficiency, measured by liabilities and current assets on revenue, is declining significantly.  Cost efficiency, assessed by the ratio of retained earnings to revenue, is also declining significantly. Selling, General, and Administrative (SG&A) expenses are slightly decreasing. Investment efficiency, measured by retained earnings on assets, is increasing. Earnings per share show a substantial initial decrease, followed by an increase. These mixed trends indicate a complex financial situation requiring further analysis.