Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 63

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 4
Chunk 63
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provision of vitamins, supplements and medicines to surrogate mothers. Revenue from surrogacy and ancillary caring services is recognized
when the surrogate mother gives birth. Surrogacy services provide infertile couples with an alternative method of having children. In
general, NewGenIvf provides certain discount to clients if they wish to pursue additional services such as egg donation and surrogacy,
after several cycles of IVF treatments failures due to medical reasons including, but not limited to, the poor egg quality of aged female
clients.

As compared to other countries,
Kyrgyzstan has the following features that allow NewGenIvf to operates its surrogacy services: (i) surrogacy is legal and regulated,
which means that there are less restrictions on either intended parents or surrogate mothers, and a parent-child relationship can be requested
before the child’s birth; and (ii) the costs of operation and surrogate mother is favourable, given the cost of living in Kyrgyzstan
is relatively low.

In addition to the regular
surrogacy services, NewGenIvf is also able to assist the clients with birth certificate applications and facilitate the application of
infants’ passports and visas as supplemental services.

For the years ended
December 31, 2024 and 2023, the revenue from NewGenIvf’s surrogacy and ancillary caring services was US$ Nil and US$1,114,457,
respectively, representing Nil % and 21.7% of its total revenue in the corresponding periods. During 2024, we did not generate any revenue
from surrogacy as we went through a series of reorganization in Kyrgyzstan.

The flow chart below shows
the stages involved in a typical surrogacy process:

In Kyrgyzstan, NewGenIvf also
provides ancillary fertility services when carrying out surrogacy services. These ancillary fertility services include: (i) maternity
caring service, and (ii) documentation service.

Network of Facilities

As of December 31, 2024, NewGenIvf
had one marketing and sales support office located in Hong Kong and three clinics located in Thailand, in Cambodia, and in Kyrgyzstan,
respectively. The integration of the medical facilities in Thailand help NewGenIvf provide a more seamless one-stop experience to its
clients. Set out below is an illustration of the locations of NewGenIvf’s clinics and marketing and sales office:

The following table sets forth
the approximate aggregate