Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 104

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 7
Chunk 104
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ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

A. Major Shareholders

Please
refer to “ Item 6. E. Directors, Senior Management and Employees - Share Ownership.”

B. Related Party Transactions

A summary of related parties
of the Company is as follows:

                                                             Relationship                                        
  Mr. Siu, Wing Fung Alfred and Ms. Fong, Hei Yue Tina*      Shareholders and directors                          
  Harcourt Limited                                           Controlled by Mr. Siu                               
  JAK Opportunities VI LLC                                   5% or more shareholder and convertible note holder  

  Ms.                            

Transaction with Mr. Wing Fung Alfred Siu and
Ms. Hei Yue Tina Fong

Historically, certain amount
of cash provided by operating activities was given to Mr. Wing Fung Alfred Siu and Ms. Hei Yue Tina Fong, resulting in amount due from
them. For the year ended December 31, 2023, the largest aggregate amount due from Mr. Siu, Wing Fung Alfred and Ms. Fong, Hei Yue Tina
was US$2,240,872. Mr. Siu and Ms. Fong had repaid the outstanding amounts due pursuant to the terms and conditions of the repayment
agreement dated August 14, 2023. As of December 31, 2024, the aggregate balance of amount due to Mr. Siu and Ms. Fong was US$92,651.

In addition, NewGenIvf also
recorded remuneration to its directors, Mr. Siu and Ms. Fong. The remuneration to Mr. Siu, Wing Fung Alfred was US$125,000 and US$190,000
during the year ended December 31, 2023 and 2024, respectively. The remuneration during the years ended December 31, 2023 and 2024 was
all in the nature of the fair value of the services provided by Mr. Siu and Ms. Fong. Mr. Siu Wing Fung also entered into agreement to
waive the balance of due from the Company of US$88,151 in 2023.

Transaction with JAK Opportunities VI LLC

On April 3, 2024, the Company
issued an aggregate principal amount of promissory notes of $2,000,000 to JAK OPPORTUNITIES VI LLC (“ JAK”).

On August 7