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

Liabilities on Revenue
Year 2022 Quarter 3: Liabilities on Revenue 32.36 (%).Trend:Decrease 27.46% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 71.71 (%).Trend:Increase 121.6% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 36.58 (%).Trend:Decrease 48.99% than previous quarter

Overall: increasing (13.04%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 303.35 (%).Trend:Decrease 38.63% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 644.91 (%).Trend:Increase 112.6% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 291.89 (%).Trend:Decrease 54.74% than previous quarter

Overall: decreasing (-3.78%). Fluctuation: **Significant** (high variation).


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

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue -142.13 (%).Trend:Decrease 26.96% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue -452.22 (%).Trend:Increase 218.17% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue -226.63 (%).Trend:Decrease 49.89% than previous quarter

Overall: decreasing (59.45%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 105.95 (%).Trend:Decrease 3.81% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 111.24 (%).Trend:Increase 4.99% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 99.21 (%).Trend:Decrease 10.81% than previous quarter

Overall: decreasing (-6.36%). Fluctuation: **Little** (low variation).


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

Retained Earning on Assets
Year 2022 Quarter 3: Retained Earning on Assets -30.64 (%).Trend:Increase 16.99% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets -44.53 (%).Trend:Increase 45.33% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets -49.11 (%).Trend:Increase 10.29% than previous quarter

Overall: decreasing (60.28%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2022 Quarter 3: Earning Per Share -1.0 (USD).Trend:Decrease 1.96% than previous quarter
Year 2023 Quarter 1: Earning Per Share -1.0 (USD).Trend:Increase 0.0% than previous quarter
Year 2023 Quarter 2: Earning Per Share -1.0 (USD).Trend:Increase 0.0% than previous quarter

Overall: stable (-0.0%). Fluctuation: **Significant** (high variation).



Financial analysis from Q3 2022 to Q2 2023 presents highly variable results. Liabilities on revenue display a trend of decrease.  However, current assets on revenue also decrease, potentially indicating operational inefficiencies.  Cost efficiency metrics, specifically the ratio of retained earnings to revenue, indicate a significant negative trend. The SG&A expense ratio exhibits a slight downward trend. Investment efficiency and earnings per share remain consistently negative and fluctuate considerably. These results signal potential operational and profitability issues.