Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 79

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 5
Chunk 79
---
────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Gross profit                                           1,826,894      33.6                1,681,785      32.7  
  Revenues                                               5,433,375      —                   5,136,153      —     

NewGenIvf expects that gross
profit and gross margin will continue to be affected by various factors including the geographic locations where treatments are performed,
as well as the pricing with its clients, agent subcontracting charges and the costs of the supplies provided by major pharmaceutical companies,
all of which are negotiated separately.

Operating expenses

NewGenIvf’s operating
expenses consist primarily of selling and marketing expenses and general and administrative expenses. NewGenIvf’s selling and marketing
expenses are primarily social media expenses. NewGenIvf’s general and administrative expenses mainly include depreciation in operating
lease ROU assets, and staff salaries.

Other income

NewGenIvf’s other income
consists primarily of partial waiver of promissory.

Interest expense

NewGenIvf’s interest
expense is incurred in relation to its interest-bearing convertible bonds.

Taxation

British Virgin Islands

NewGenIvf is incorporated
in the British Virgin Islands and is not subject to tax on income or capital gains under current British Virgin Islands law. In addition,
upon payment of dividends to shareholders, no British Virgin Islands withholding tax will be imposed.

Hong Kong

Under the two-tiered profits
tax rates regime, Hong Kong tax residents are subject to Hong Kong profits tax in respect of profits arising in or derived from
Hong Kong at 8.25% for the first HK$2 million of profits of the qualifying group entity, and profits above HK$2 million
will be taxed at 16.5%. The profits of group entities not qualifying for the two-tiered profits tax rates regime will continue to be taxed
at a flat rate of 16.5%.

Accordingly, the Hong Kong
profits tax is calculated at 8.25% on the first HK$2 million of the estimated assessable profits and at 16.5% on the remaining estimated
assessable profits.

Thailand

The companies incorporated
in Thailand are taxed on worldwide income. A company incorporated outside of Thailand is taxed on its profits arising from or in consequence
of the business carried on in Thailand. The Thailand corporate income tax rate for locally incorporated company is 20%. A foreign company
not carrying on business in Thailand is subject to