Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 126

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 11
Chunk 126
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Ivf’s operations in Thailand, Cambodia
and Kyrgyzstan are subject to special considerations and significant risks not typically associated with companies in North America and
Western Europe. These include risks associated with, among other things, the political, economic and legal environment and foreign currency
exchange. NewGenIvf’s results may be adversely affected by changes in the political and social conditions in Thailand, Cambodia
and Kyrgyzstan, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion,
remittances abroad, and rates and methods of taxation, among other things.

Travel restriction risk

International clients contribute a large portion
of NewGenIvf’s revenue. International clients need to travel to Thailand, Cambodia and Kyrgyzstan for treatment services, where
NewGenIvf’s operations are mainly conducted.

International traveling to Thailand, Cambodia
and Kyrgyzstan may be affected by a number of factors, including local and global political and economic conditions. Furthermore, an outbreak,
or threatened outbreak, of any severe contagious disease may also in turn significantly reduce the demand of traveling or cause extensive
travel restrictions. NewGenIvf’s results may be materially and adversely affected if travel restriction was imposed or difficulties
in cross-border flow arose.

Inflation risk

Management of NewGenIvf monitors changes in prices
levels. Historically inflation has not materially impacted NewGenIvf’s consolidated financial statements; however, significant increases
in the price of labor that cannot be passed to NewGenIvf’s customers could adversely impact its results of operations.

ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES