Company: NIVFW
Filing Date: 2025-03-07
Form Type: F-1
Source: 0001213900-25-021404
Chunk: 105

Company: NewGenIvf Group Ltd
Filing Date: 2025-03-07
Form: F-1
Chunk 105
---
2022 to US$4,021,696 in 2023. This increase was primarily the result of our continued expansion of clinics in Thailand which focus on IVF services. Surrogacy and ancillary caring services NewGenIvf’s surrogacy and ancillary caring services revenue decreased by approximately 64.3% from US$3,125,027 in 2022 to US$1,114,457 in 2023. This decrease was primarily the result of temporary caesura of surrogacy business. Cost of revenue NewGenIvf’s cost of revenues increased by approximately 34.7% from 2,131,738 for the nine month period ending September 30, 2023 was to 2,872,004 for the nine month period ending September 30, 2024. The reason for this increase was increased agency services costs involved in subcontracting follow-up services. NewGenIvf’s cost of revenue decreased by approximately 21.6% from US$4,406,421 in the fiscal year ended December 31, 2022 to US$3,454,368 in the fiscal year ended December 31, 2023. Cost of goods sold NewGenIvf’s cost of goods sold increased by approximately 18.3% from US$502,969 in the fiscal year ended December 31, 2022 to US$594,984 in the fiscal year ended December 31, 2023, primarily attributed to the stocking arrangements prepared for 2023 exceed the original estimated demand, due to the local top management reported on board until in the middle of the year, and the procurement strategy was not immediately carried on time, which also caused procurement costs to double year-on-year. Clinic costs NewGenIvf’s clinic costs decreased by approximately 26.7% from US$3,903,452 in the fiscal year ended December 31, 2022 to US$2,859,384 in the fiscal year ended December 31, 2023, primarily due to the relocation arrangement, certain daily operating schedules stopped, resulting in the clinic’s service being temporarily suspended in 2023. Gross profit NewGenIvf’s gross profit for the nine months ended September 30, 2024 was $1,287,759, compared to its gross profit of $1,484,960 for the nine months ended September 30, 2023, representing a 13.3% decrease from the nine months ended September