Company: NIVFW
Filing Date: 2025-09-18
Form Type: F-1
Source: 0001213900-25-088927
Chunk: 118

Company: NewGenIvf Group Ltd
Filing Date: 2025-09-18
Form: F-1
Chunk 118
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 and other terms of this offering to be determined at pricing.

The above illustration of
dilution in net tangible book value per share to new investors participating in this offering assumes no exercise of outstanding convertible
bond or warrants as of December 31, 2024 to purchase our common shares. The exercise of outstanding convertible bond and warrants having
an exercise price less than the initial public offering price or the conversion of convertible debentures for no additional consideration
will increase dilution to new investors. In addition, we may choose to raise additional capital depending on market conditions, our capital
requirements and strategic considerations, even if we believe we have sufficient funds for our current or future operating plans. To the
extent that we raise additional capital through the sale of equity or convertible debt securities, the issuance of these securities could
result in further dilution to our shareholders.

The following information is presented as of December 31,
2024:

|                                                                            |     | Existing    
 shareholder 
 31/12/2024  |          |   |
|:---------------------------------------------------------------------------|:----|:------------|---------:|:--|
| Total comprehensive income attributable to the shareholders of the company |     | $           | (498,480 | ) |
| Earning per share – basic                                                  |     |             |    (66.2 | ) |
| - diluted                                                                  |     |             |   (31.90 | ) |
| Weighted average shares outstanding – Basic                                |     |             |    7,162 |   |
| - Diluted                                                                  |     |             |   14,866 |   |

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</div>

The following discussion and analysis of our results of operations and financial condition should be read together with our consolidated financial statements and the notes thereto and other financial information, which are included elsewhere in this registration statement. Our financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). In addition, our financial statements and the financial information included in this registration statement reflect our organizational transactions and have been prepared as if our current corporate structure had been in place throughout the relevant periods.

This section contains forward-looking statements. These forward-looking statements are subject to various factors, risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Further, as a result of these factors, risks and uncertainties, the forward