Company: NIVFW
Filing Date: 2025-09-18
Form Type: F-1
Source: 0001213900-25-088927
Chunk: 65

Company: NewGenIvf Group Ltd
Filing Date: 2025-09-18
Form: F-1
Chunk 65
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 international clients.

Fertility services revenue
from international clients are an important part of NewGenIvf’s revenue, though NewGenIvf is expanding rapidly into the local markets.
The number of international clients travelling to Thailand, Cambodia and Kyrgyzstan to seek fertility services may, however, be affected
by a number of factors, including the economic status of the foreign client’s country of origin, the relative exchange rate of the
client’s home currency to the relevant authorities, which may affect the cost of treatment, natural disasters, pandemics like COVID-19,
and political tension or acts of terrorism in such countries and the region. For example, the COVID-19 had resulted in a number of
countries declaring a state of emergency and a number of countries, including the countries in Asian Pacific, imposing extensive travel
restrictions, which in turn caused a decrease in the numbers of internal clients traveling to Thailand, Cambodia or Kyrgyzstan for treatments.

These events could cause a
postponement or a reduction in the number of clients traveling to Thailand, Cambodia or Kyrgyzstan, and could in turn affect revenues
from international clients, which is the significant contributor in terms of volume. A decline in the medical tourism industry may have
a material adverse effect on NewGenIvf’s financial condition and results of operations.

Fluctuations in exchange rates could have a material and adverse effect on NewGenIvf’s results of operations and the value of your investment.

NewGenIvf’s
reporting currency is U.S. dollars. The functional currency of NewGenIvf and its subsidiaries include Hong Kong dollar
(“HK$”), Thai baht (“THB”), and United States dollar (“USD”). Accordingly, fluctuations in
the value of HK$, and THB relative to the USD could affect its results of operations due to translational remeasurements. As its
international operations expand, an increasing portion of its revenue and operating expenses may be denominated in non- HK$, and THB
currencies. Accordingly, NewGenIvf’s revenue and operating expenses will become increasingly subject to fluctuations due to
changes in foreign currency exchange rates. If NewGenIvf is not able to successfully hedge against the risks associated with
currency fluctuations, NewGenIvf’s business, financial condition and results of operations could be materially adversely
affected.

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Governmental control of currency conversion may limit NewGenIvf’s ability to utilize NewGenIvf’s net revenue effectively and affect