Company: NIVFW
Filing Date: 2025-08-21
Form Type: DRS
Source: 0001213900-25-079301
Chunk: 140

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-21
Form: DRS
Chunk 140
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U 2025-02 is effective immediately and on a fully retrospective basis to annual periods beginning after December 15, 2024. It is
not expected to have an impact on the Company’s consolidated financial statements.

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BUSINESS</div>

Overview

We are an assisted reproductive
services (“ARS”) provider in Asia-Pacific. Since the opening of our first clinic in Thailand in 2014, we have established
ourself as a long-standing ARS provider in this region. Our strategic presence in Thailand, Cambodia, and Kyrgyzstan positions us to take
advantage of opportunities across Asia-Pacific. According to China Insights Consultancy (“CIC”), from 2014 to 2022, there
was a rising number of women in the key ARS-targeted age group (ages 15 to 49) in Asia Pacific and a growing trend towards later maternal
age. The number of married women of reproductive age in Asia Pacific has risen from 816.4 million in 2014 to 833.2 million in
2022. Additionally, according to CIC, there was increasing social acceptance of ARS use in Asia Pacific countries such as China, India,
and Thailand during the same period. For example, the number of ARS users in China has risen from 136.8 thousand in 2017 to 184.9 thousand
in 2022 approximately and that in Japan has risen from 98.0 thousand in 2017 to 128.5 thousand in 2022.

According to CIC, the prevalence
of infertility in Asia-Pacific developing countries is substantial. For example, the infertility rate in Thailand, India and China was
about 15.4%, 13.8% and 17.8%, respectively, in 2022. In India, the infertility rate in 2020 was approximately 13.1%, representing an annual
growth of 2.6%. The infertility rate in China was around 17.6% in 2020, representing an annual growth of 0.6%. Infertility is increasingly
gaining society’s attention as individuals are more openly discussing their struggles. Despite the prevalence of infertility, access
to treatment is often limited in the Asia Pacific region. According to CIC, financial challenges, costs of treatment, and limited availability
or capacity of fertility medical care are some of the main challenges in the fertility marketplace in Asia-Pacific region. Religious,
social and cultural roadblocks can also prevent