Company: NIVFW
Filing Date: 2025-06-03
Form Type: 424B3
Source: 0001213900-25-050825
Chunk: 109

Company: NewGenIvf Group Ltd
Filing Date: 2025-06-03
Form: 424B3
Chunk 109
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 treatment services provided at facilities that NewGenIvf operated in Thailand and Cambodia. In addition, NewGenIvf also recognized revenues from IVF treatments included in surrogacy services performed in Kyrgyzstan. NewGenIvf’s revenue from IVF treatment service amounted to US$5,433,375 and US$4,021,696, representing approximately 100% and 78.3% of its total revenues in 2024 and 2023, respectively.

IVF treatment involves
the performance of a series of medical treatment and procedures and eventually brings benefits to clients when embryo is successfully
implanted. Revenue from IVF treatment is recognized at a point in time when different treatment and/or procedure completed in clinic.
The completion of the respective treatments and/or procedures are evidenced by treatment cards and reports maintained in the patient
files indicating successful completion of respective promised obligations.

Surrogacy and ancillary caring services

NewGenIvf also generated
revenue of US$1,114,457 from surrogacy and related ancillary caring services, approximately 21.7% of its total revenue in 2023, provided
at facilities that NewGenIvf operated in Kyrgyzstan. In 2024, due to the reorganization of the Kyrgyzstan operations, NewGenIvf did not
generate any revenue from surrogacy and related ancillary caring services.

In surrogacy and ancillary caring services, embryo from intending parents is implanted in the surrogate mother sub-contracted by NewGenIvf. During the pregnancy period of the surrogate mother, NewGenIvf provides ancillary caring services including maternity caring services such as regular body check and provision of vitamins, supplements and medicines to surrogate mothers, documentation service, and hotel accommodation services. Revenue from surrogacy and ancillary caring services is recognized at a point in time when the surrogate mother gives birth.

Cost of revenue

The following table sets forth a breakdown of NewGenIvf’s cost of revenue by the nature of the cost, in absolute amounts and as percentages of total cost of revenues, for the periods indicated.

|                        |     | For the Year ended December 31, |      2024 |     |   |       |     |     |      2023 |     |   |       |
|:-----------------------|:----|:--------------------------------|----------:|:----|:--|------:|:----|:----|----------:|:----|:--|------:|
|                        |