Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 31

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 3
Chunk 31
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 medical facilities in NewGenIvf’s network and NewGenIvf could suffer as a result.

Independent sub-contractors
and/or agents that work with NewGenIvf are also subject to extensive laws, rules, and regulations. If any sub-contractor and/or agent
violates any applicable laws, rules, regulations or breaches any agreements, NewGenIvf’s reputation may be materially and adversely
affected and NewGenIvf may be penalized by regulatory or other parties. In addition, NewgenIvf’s clients may engage Newgen’s
sub-contractors and/or agents for ongoing services or additional services following the termination of contracts with NewGenIvf. NewGenIvf
has no control over the services provided by sub-contractors and cannot assure the quality of such services or ensure compliance with
applicable laws, rules and regulations. In addition, the services provided by independent sub-contractors may expose NewGenIvf to public
scrutiny, adversely affect its brand and reputation, expose it to litigation or regulatory action, and otherwise make its operations vulnerable
if such independent sub-contractors fail to meet their contractual obligations or to comply with applicable laws or regulations.

If NewGenIvf loses its relationship with
one or more key pharmaceutical manufacturers, its business and results of operations could be adversely affected.

NewGenIvf maintains contractual
relationships with select pharmaceutical manufacturers in Thailand, Cambodia and Kyrgyzstan. The consolidation of pharmaceutical manufacturers
and, laboratory service providers, the shortages of drugs provided by such manufacturers, the termination or material alteration of its
contractual relationships, or its failure to renew such contracts could have a material adverse effect on its business and results of
operations. Adoption of new laws, rules or regulations or changes in, or new interpretations of, existing laws, rules or regulations,
relating to any of these programs could materially adversely affect its business and results of operations.

NewGenIvf has engaged in transactions with
related parties, and such transactions present potential conflicts of interest that could have an adverse effect on its business and results
of operations.

NewGenIvf has entered into
a number of transactions with related parties. NewGenIvf may in the future enter into additional transactions with its related parties.
Interests of these related parties may not necessarily be aligned with NewGenIvf’s or The Company’s interests and the interests
of its other shareholders. For example, conflicts of interest may arise in connection with decisions regarding the transaction arrangements
which may be less