Company: NIVFW
Filing Date: 2025-03-07
Form Type: F-1
Source: 0001213900-25-021404
Chunk: 228

Company: NewGenIvf Group Ltd
Filing Date: 2025-03-07
Form: F-1
Chunk 228
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 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. F-49 NEWGENIVF GROUP LIMITED
NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 2024 AND 2023
(Stated in US Dollars) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) Concentration of risks (cont.)

Concentration of customers

As of September 30,
2024 and December 31, 2023, one and two customers which individually contributed more than % of trade receivable, accounted for %
and % of the Company’s trade receivable respectively.

None of the customers contributed
more than % of revenue for nine months ended September 30, 2024 and 2023.

Concentration of suppliers

As of September 30, 2024
and December 31, 2023, one and four suppliers which individually contributed more than % of trade payable, accounted for % and
% of the Company’s trade payable respectively.

For the nine months ended
September 30, 2024 and 2023, one and one vendors which contributed more than % of total purchases of the Company, accounted for %
and % of the Company’s total purchases respectively.

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,