Company: NIVFW
Filing Date: 2025-10-10
Form Type: F-1/A
Source: 0001213900-25-098135
Chunk: 190

Company: NewGenIvf Group Ltd
Filing Date: 2025-10-10
Form: F-1/A
Chunk 190
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 of the accounting acquirer. Any excess of the value of shares issued by the Company over the net book value of the accounting acquirer will be recognized as a reduction to equity (APIC). F-12

Use of estimates

The preparation of the consolidated
financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements
and the reported amounts of revenues and expenses during the periods presented. Actual results could differ from those estimates.

Foreign currency translation

The accompanying consolidated
financial statements are presented in United States dollar (“$”), which is the reporting currency of the Company. The
functional currency of the Company and its subsidiaries, FFPGS (HK) Limited and Well Image Limited, are Hong Kong dollar (“HK$”).
Med Holdings and FFC use Thai baht (“THB”) as their functional currencies. First Fertility Phnom Penh Limited and Bi Clinic
Ltd (“FFBi”) uses United States dollar (“USD”) as their functional currencies. Shenzhen Qianhai Fengtai Renhui
Health Technology Co., Ltd. (“SZ QianHai”) uses Chinese Renminbi (“CNY”) as its functional currency.

Assets and liabilities denominated
in currencies other than the reporting currency are translated into the reporting currency at the rates of exchange prevailing at the
balance sheet date. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the
functional currency using the applicable exchange rates at the balance sheet dates. Translation gains and losses are recognized in the
consolidated statements of operations and comprehensive income as other comprehensive income or loss.

Transactions in currencies
other than the reporting currency are measured and recorded in the reporting currency at the exchange rate prevailing on the transaction
date. The cumulative gain or loss from foreign currency transactions is reflected in the consolidated statements of operations and comprehensive
income as other income (other expenses).

The value of foreign currencies
including, the HK$, THB and RMB, may fluctuate against the United States dollar. Any significant variations of the aforementioned
currencies relative to the United States dollar may materially affect the Company’s financial condition in terms of reporting
in USD.

|                |     |        |     | 2024 |         |     | 2023 |         |     | 2022 |         |
| Period-end     |     | $: HK$ |     |      |