Company: NIVFW
Filing Date: 2025-05-01
Form Type: F-1/A
Source: 0001213900-25-038045
Chunk: 198

Company: NewGenIvf Group Ltd
Filing Date: 2025-05-01
Form: F-1/A
Chunk 198
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, the risk is mitigated by ascertaining upfront payments for services prior to their performance. F-16

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 (to) related parties each qualify as financial
instruments and are a reasonable estimate of their fair values because of the short period between the origination of such instruments
and their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined as follows:

| ● | Level 1 — inputs to the valuation methodology used quoted prices for identical assets or liabilities in active markets. |

| ● | Level 2 — inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets and information that are observable for the asset or liability, either directly or indirectly, for substantially the financial instrument’s full term |

| ● | Level 3 — inputs to the valuation methodology are un