Company: NIVFW
Filing Date: 2025-08-22
Form Type: DRS
Source: 0001213900-25-079717
Chunk: 198

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-22
Form: DRS
Chunk 198
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 ●   A Thailand company                
 ●   Incorporated                      
 on January 21, 2015                   |     | 49%*        |     | Investment holding                                                  |
| First Fertility PGS Center Limited (“FFC”) (Note)                          |     | ●   A Thailand company                
 ●   Incorporated                      
 on March 6, 2014                      |     | 74%         |     | Provision of IVF treatment                                          |
| First Fertility Phnom Penh Limited (“FFPP”)                                |     | ●   A Cambodia company                
 ●   Incorporated                      
 on August 10, 2015                    |     | 100%        |     | Provision of IVF treatment                                          |
| Bi Clinic Ltd (“FFBi”)                                                     |     | ●   A Kyrgyzstan company              
 ●   Incorporated on December 16, 2021 
 ●   Acquired on December 17, 2024     |     | 100%        |     | Provision of IVF treatment, surrogacy and ancillary caring services |
| Shenzhen Qianhai Fengtai Renhui Health Technology Co., Ltd. (“SZ QianHai”) |     | ●   A Shenzhen China, PRC company     
 ●   Incorporated on October 24, 2024  |     | 100%        |     | Marketing and administrative services                               |

| * | Where less than 50% of the equity of an investee is held, the Company (through its subsidiaries) holds significantly more voting rights than any other vote holder or organized company of vote holders. An assessment has been made, taking into account all the factors relevant to the relationship with the investee, to ascertain control has been established and the investee should be consolidated as a subsidiary of the Company. |

Note:

According to Thailand’s
Foreign Business Act (the “FBA”), the majority shareholdings of limited company incorporated in Thailand is required to be
owned by Thai nationals.

<div align='center'>F-10</div>

With reference to the capital
structure and voting rights structure of ordinary shares and preference shares (the “Share Structure”) of Med Holdings and
FFC, all the preference share capital shall be owned by a Thai national. No preference shares, however, have been issued to date. The
ordinary shares and preference shares have the same rights and status in all respects except for the distribution of profits by way of
dividends with details as follow:

| (a) | Dividends from profits