Company: NIVFW
Filing Date: 2025-03-07
Form Type: F-1
Source: 0001213900-25-021404
Chunk: 211

Company: NewGenIvf Group Ltd
Filing Date: 2025-03-07
Form: F-1
Chunk 211
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 legal environment and foreign currency exchange. The Company’s results may be adversely affected by changes in the political and social conditions in Thailand, Cambodia and Kyrgyzstan, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation, among other things. D. Inflation risk Management monitors changes in prices levels. Historically inflation has not materially impacted the Company’s consolidated financial statements; however, significant increases in the price of labor that cannot be passed to the Company’s customers could adversely impact the Company’s results of operations. F-32 NEWGENIVF LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021
(Stated in US Dollars)

NOTE 15 — RELATED PARTY BALANCES AND TRANSACTIONS

The summary of amount due from and due to related parties as the following:

| Due from shareholders consist of the following:                               |     | Relationship                        |     | December 31, 
 2023         |         |     | 2022 |           |   |
|:------------------------------------------------------------------------------|:----|:------------------------------------|:----|:-------------|--------:|:----|:-----|----------:|:--|
| Mr. Siu Wing Fung, Alfred (“Mr. Siu”) and Ms. Fong Hei Yue, Tina (“Ms. Fong”) |     | Shareholders and directors (note 1) |     | $            | 354,285 |     | $    | 2,240,872 |   |
| Due to a related party consist of the following:                              |     |                                     |     |              |         |     |      |           |   |
| Harcourt Limited                                                              |     | A related company (note 2)          |     | $            |       - |     | $    |  (110,773 | ) |

| Note |

| (1) | Ms. Fong is the spouse of Mr. Siu. As of December 31, 2023 and 2022, the due from shareholders balance was $354,285 and $2,240,872, respectively. |

| (2) | The directors and shareholders of Harcourt Limited are Mr. Siu and Ms. Fong, Harcourt Limited therefore has the common ultimate beneficial owners with the Company. |

The