Company: NIVFW
Filing Date: 2025-08-21
Form Type: DRS
Source: 0001213900-25-079301
Chunk: 121

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-21
Form: DRS
Chunk 121
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                        |     | For the Year ended December 31, |      2024 |     |   |       |     |     |      2023 |     |   |       |
|:-----------------------|:----|:--------------------------------|----------:|:----|:--|------:|:----|:----|----------:|:----|:--|------:|
|                        |     | US$                             |           |     | % |       |     | US$ |           |     | % |       |
| Cost of revenues       |     |                                 |           |     |   |       |     |     |           |     |   |       |
| Cost of goods sold     |     |                                 |   629,620 |     |   |  17.5 |     |     |   594,984 |     |   |  17.2 |
| Clinic costs           |     |                                 | 2,976,861 |     |   |  82.5 |     |     | 2,859,384 |     |   |  82.8 |
| Total cost of revenues |     |                                 | 3,606,481 |     |   | 100.0 |     |     | 3,454,368 |     |   | 100.0 |

Cost of goods sold.Cost
of goods sold primarily consisted of purchase and direct cost for IVF treatment services and surrogacy and ancillary caring services.
NewGenIvf’s cost of goods was mostly recognized during the provision of IVF treatment services.

Clinic costs.Clinic
costs primarily consisted of sub-contracting charges, office supplies and staff salaries and bonus. The largest portion of clinic costs
was sub-contracting charges, representing fees paid to agents who recruited surrogate mothers and assisted in the documentation, consulting
and medical treatment arrangement throughout treatment procedure. NewGenIvf’s clinic costs of goods were mostly recognized during
the provision of surrogacy services.

Gross profit and gross margin

The following table sets forth
NewGenIvf’s gross profit in absolute amounts and its gross margin as percentages of total revenues, for the periods indicated.

|              |     | For the Year ended December 31, |      2024 |     |   |      |     |     |      2023 |     |   |      |
|:-------------|:----|:--------------------------------|----------:|:----