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 88.11 (%).Trend:Increase 185.33% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 29.14 (%).Trend:Decrease 66.93% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 31.41 (%).Trend:Increase 7.79% than previous quarter

Overall: decreasing (-64.35%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 728.32 (%).Trend:Increase 233.6% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 316.98 (%).Trend:Decrease 56.48% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 210.16 (%).Trend:Decrease 33.7% than previous quarter

Overall: decreasing (-71.14%). 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 518.4 (%).Trend:Increase 285.17% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 256.06 (%).Trend:Decrease 50.61% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 178.0 (%).Trend:Decrease 30.49% than previous quarter

Overall: decreasing (-65.66%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 11.8 (%).Trend:Decrease 11.08% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 11.72 (%).Trend:Decrease 0.68% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 12.09 (%).Trend:Increase 3.16% than previous quarter

Overall: increasing (2.46%). 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 44.04 (%).Trend:Increase 11.89% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 46.04 (%).Trend:Increase 4.54% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 45.86 (%).Trend:Decrease 0.39% than previous quarter

Overall: increasing (4.13%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.83 (USD).Trend:Decrease 72.7% than previous quarter
Year 2023 Quarter 2: Earning Per Share 1.87 (USD).Trend:Increase 125.3% than previous quarter
Year 2023 Quarter 3: Earning Per Share 2.95 (USD).Trend:Increase 57.75% than previous quarter

Overall: increasing (255.42%). Fluctuation: **Significant** (high variation).



Financial analysis of Q1-Q3 2023 reveals substantial volatility in working capital, liabilities on revenue and current assets on revenue declining significantly, and major fluctuations.  Cost efficiency, as measured by the ratio of retained earnings to revenue, also decreased dramatically.  In contrast, selling, general, and administrative expenses show a slight increase.  Investment efficiency displayed a small, steady upward trend, with retained earnings on assets consistently increasing, while earnings per share increased markedly, but with considerable quarterly fluctuations. This analysis emphasizes the need for further investigation into the underlying factors driving these considerable changes.