Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 181

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 19
Chunk 181
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153      $         5,944,190  

Geographical information

                                                       December 31,                                                         
  Revenue from external customers originated from      2024                                            2022                 
  HK SAR                                               $                         —         34,038      $                 —  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Kyrgyzstan                                                             2,656,596      3,123,593                5,060,973  
  Cambodia                                                                 601,526        621,619                  377,608  
  Thailand                                                               2,175,253      1,356,903                  505,609  
  Total revenues                                       $                 5,433,375      5,136,153      $         5,944,190  

The revenue information above is based on the
locations where the revenue originated.

F-26

                                    December 31,                                                   
  Long-lived assets located at      2024                           2023                            
 ───────────────────────────────────────────────────────────────────────────────────────────────────
  HK SAR                            $                   3,081      $         584          —        
  China                                                 8,370                —            —        
  Kyrgyzstan                                                —                —            22,513   
  Cambodia                                             47,902                137,472      229,085  
  Thailand                                            312,313                307,948      254,745  
                                    $                 371,666      $         446,004      506,343  

The Company’s long-lived assets consist
of plant and equipment, net and operating leases right-of-use assets, net.

NOTE 16 - RISKS

A. Credit risk

Accounts receivable

In order to minimize the
credit risk, the management of the Company monitors and ensures that follow-up action is taken to recover overdue debts. The Company
considers the probability of default upon initial recognition of asset and whether there has been a significant increase in credit risk
on an ongoing basis throughout each reporting period. To assess whether there is a significant increase in credit risk, the Company compares
the risk of a default occurring on the asset as at the reporting date with the risk of default as at the date of initial recognition.
It considers available reasonable and supportive forward-looking information, such as GDP growth rate and nominal GDP per capita.
Based on the impairment assessment performed by the Company, the directors consider the loss allowance for