Company: NIVFW
Filing Date: 2025-08-22
Form Type: DRS
Source: 0001213900-25-079717
Chunk: 59

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-22
Form: DRS
Chunk 59
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 legal standards; and |

| ● | increased financial accounting and reporting burdens and complexities. |

If one or more of these risks
are realized, its business, financial condition and results of operations could be adversely affected.

Ethical, legal and social concerns related to the use of assisted reproductive technology could reduce demand for the fertility services provided by the medical facilities in NewGenIvf’s network, and thus may adversely affect the business, financial conditions and results of operations of the medical facilities in its network.

Patient sentiment and distrust
of the use of assisted reproductive technology may lead to less demand for fertility services. Assisted reproductive technologies, including
genetic testing, technologies used for surrogacy and egg donation and gender selection, have raised ethical, legal and social issues regarding
privacy and the appropriate uses of the resulting information. Government authorities could, for social or other purposes, limit or regulate
the use of assisted reproductive technology to certain conditions. Similarly, these concerns may lead patients to refuse to use, or physicians
to be reluctant to order, assisted reproductive services even if permissible. These and other ethical, legal and social concerns may limit
market acceptance of fertility services or reduce patient demand for such services, either of which could have a material adverse effect
on the business, financial condition and results of operations of the medical facilities in NewGenIvf’s network, and NewGenIvf itself.

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NewGenIvf is reliant on revenue from 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 has 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