Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 163

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 19
Chunk 163
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3)      determine the transaction prices of those contracts;                                                                                                                                                  
  (4)      allocate the transaction prices to its performance obligations in those contracts; and                                                                                                                
  (5)      recognize revenue when each performance obligation under those contracts is satisfied. Revenue is recognized when promised services are transferred to the client in an amount that reflects the ...  

The Company enters into verbal
agreements with its customers that outline the rights, responsibilities, and obligations of each party. The agreements also identify the
scope of services, service fees, and payment terms. Agreements are acknowledged and consent forms are signed by the customers prior to
each promised service or bundle of services are inter dependant. All the contracts have commercial substance, and it is probable that
the Company will collect considerations from its customers for service component as settlement is predominantly required prior to performance
of the promised service.

The Company derives its revenues
from two sources: (1) revenue from IVF treatment, and (2) revenue from surrogacy and ancillary caring services.

Revenue from IVF treatment

In vitro fertilization (“ IVF”) treatment is an assisted
reproductive technique where eggs and sperm are collected and fertilized in laboratory to become embryo. Fertilized embryo is then implanted
to the customer or a surrogate mother. IVF treatment involves the performance of a series of medical treatment as well as procedures and
brings benefits to clients as the service of bundles service is completed. Revenue from IVF treatment is recognized at a point in time
when different treatment and/or procedure or bundles thereof, are completed in clinic. The full completion of the various procedures and
treatments are evidenced by treatment cards and reports included within the patient files indicating successful completion of the service.

Revenue from surrogacy and ancillary caring
services

The Company provides surrogacy
and ancillary caring services solely in Kyrgyzstan. Embryo from blood parents is implanted to surrogate mother contracted by the Company
or its agents. During pregnancy period, the Company provides ancillary caring services including regular body check and provision of vitamins,
supplements and medicines to surrogate mothers. The key performance obligation is identified as a single performance obligation where
a baby is born, therefore revenue from surrogacy and ancillary caring services is recognized at a point in time when surrogate mother
gives birth. The Company collects approximately40% of contract sum upfront, and remaining contract sum is collected in installments across
pregnancy period of surrogate mother. The amount of revenue recognized from contract liabilities