Company: NIVFW
Filing Date: 2025-10-10
Form Type: F-1/A
Source: 0001213900-25-098135
Chunk: 199

Company: NewGenIvf Group Ltd
Filing Date: 2025-10-10
Form: F-1/A
Chunk 199
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-controlling interests are presented as a separate component of equity on the consolidated balance sheets and net (loss) income and other comprehensive loss are attributed to controlling and non-controlling interests respectively. Concentration of risks Concentration of credit risk Financial instruments that potentially expose us to concentrations of credit risk consist primarily of cash and cash equivalents and account receivable. The Company places cash and cash equivalents with financial institutions with high credit ratings and quality. Accounts receivable primarily comprise of amounts receivable from the service customers. The Company conducts credit evaluations of customers, and generally does not require collateral or other security from its customers. The Company establishes an allowance for doubtful accounts primarily based upon the factors surrounding the credit risk of specific customers. Furthermore, the risk is mitigated by ascertaining upfront payments for services prior to their performance. F-17

Concentration of customers

As of December 31, 2024 and
2023, one and two customers respectively which individually contributed more than 10% of trade receivable, and accounted for 89% and %
of the Company’s trade receivable respectively.

None of the customers contributed
more than 10% of revenue for years ended December 31, 2024 and 2023.

Concentration of suppliers

As of December 31, 2024 and
2023, nil and one supplier respectively which individually contributed more than 10% of trade payable, accounted for nil % and % of
the Company’s trade payable respectively.

For both the years ended
December 31, 2024 and 2023, no vendor contributed more than 10% of total purchases of the Company.

Financial instruments

The Company’s financial
instruments, including cash and cash equivalents, accounts receivables, net, deposits, other receivables and deferred IPO cost, net, loan
to A SPAC I, accounts payables, accrued liabilities and other payables, and due from (to) shareholders, have carrying amounts that approximate
their fair values due to their short maturities. ASC Topic 820, “Fair Value Measurements and Disclosures” requires disclosing
the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments” defines fair value
and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements
for fair value measures. The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, accounts and
other receivables, accounts and other payables, accrued liabilities and amounts due from (