Company: NIVFW
Filing Date: 2025-10-31
Form Type: 424B3
Source: 0001213900-25-104469
Chunk: 126

Company: NewGenIvf Group Ltd
Filing Date: 2025-10-31
Form: 424B3
Chunk 126
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 ancillary caring services revenue decreased by approximately 100.0% from US$1,114,457 in 2023 to US$ Nil in 2024. This decrease was
primarily the result of temporary cessation of surrogacy business due to the reorganization of Kyrgyzstan business operation.

Cost of revenue

NewGenIvf’s cost of
revenues decreased by approximately 16.7% from 2,047,970 for the six months period ending June 30, 2024 to 1,705,824 for the six months
period ending June 30, 2025.

NewGenIvf’s cost of
revenue increased by approximately 4.4% from US$3,454,368 in 2023 to 3,606,481 in 2024.

Cost of goods sold

NewGenIvf’s cost of
goods sold increased by approximately 5.8% from US$594,984 in 2023 to US$629,620 in 2024, primarily attributed to the increase on procurement
costs. The increase in IVF treatment services, directly leading to increase in cost of goods sold.

Clinic costs

NewGenIvf’s clinic
costs increased by approximately 4.1% from US$2,859,384 in 2023 to US$2,976,861 in 2024, primarily due to the relocation arrangement,
certain daily operating schedules stopped, resulting in the clinic’s service being temporarily ceased.

Gross profit

NewGenIvf’s gross profit
for the six months ended June 30, 2025 was $313,804, compared to its gross profit of $638,932 for the nine months ended June 30, 2024,
representing a 50.87% decrease from the six months ended June 30, 2024.

NewGenIvf’s gross profit
increased by approximately 8.6% from US$1,681,785 in 2023 to US$1,826,894 in 2024 to, primarily attributable to a reorganizing of our
cooperation model with subcontractors and the increased efficiency of our marketing services, resulting in a decrease in unit service
costs per customer, directly leading to increases in gross profit margins.

NewGenIvf’s gross margin
slightly increased from 32.7% in 2023 to 33.6% in 2024.

Operating expenses

New