Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 58

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 4
Chunk 58
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 Wellness Investment Holdings Limited (“ EWIHL”)
for a proposed reverse merger (“ EWIHL Proposed Transaction”), completion of which was subject to, among other conditions,
the completion of due diligence, the negotiation of a definitive agreement, and obtaining adequate financing. On March 31, 2025, NewGenIvf
terminated the term sheet for the EWIHL Proposed Transaction as EWIHL had failed to produce certain draft audited financials, which were
specifically required in the term sheet.

On February 28, 2025, NewGenIvf
completed its acquisition of the MicroSort technology from Genetics & IVF Institute, Inc. (“ GIVF”). Pursuant to a Purchase
Agreement dated January 21, 2025 between NewGenIvf and GIVF (“ Purchase Agreement”), NewGenIvf purchased all of the Assets
(as defined in the Purchase Agreement) and IP Licenses (as defined in the Purchase Agreement) relating to the MicroSort technology (as
described below from GIVF for a cash consideration of $750,000 and a share consideration of 125,000 Class A Ordinary Shares (“ MicroSort
Acquisition”).

Business Model

With a focus on providing
fertility treatments to fulfil couples and individuals’ dreams of raising children, NewGenIvf offers mainly two services, namely:
(i) IVF treatment service, comprising traditional IVF and egg donation; and (ii) surrogacy and ancillary caring services. The
following table sets forth NewGenIvf’s revenue by service offerings and as a percentage of total revenue for the periods indicated:

                                               For the Year ended December 31,                                                                
                                               2024                                                           2023                            
                                               US$                                                            US$                             
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  IVF Treatment Service                                                             5,433,375      100.0                4,021,696       78.3  
  Surrogacy and Ancillary Caring Services                                           —              —                    1,114,457       21.7  
  Total Revenue                                                                     5,433,375      100.0                5,136,153      100.0  

IVF Treatment Service

NewGenIvf primarily provides
its clients with conventional IVF/ICSI and embryo transfer services. NewGenIvf is also able to, through MicroSort technology, help fulfill
the family-balancing