Company: NIVFW
Filing Date: 2025-03-07
Form Type: F-1
Source: 0001213900-25-021404
Chunk: 106

Company: NewGenIvf Group Ltd
Filing Date: 2025-03-07
Form: F-1
Chunk 106
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30, 2023. This decrease was due primarily to business difficulties in the nine months ended September 30, 2024. 74 NewGenIvf’s gross profit increased by approximately 9.4% from US$1,537,769 in the fiscal year ended December 31, 2022 to US$1,681,785 in the fiscal year ended December 31, 2023, primarily attributable to a reorganizing of our cooperation model with subcontractors and the increased efficiency of our marketing services, resulting in a decrease in unit service costs per customer, directly leading to increases in gross profit margins. NewGenIvf’s gross margin increased from 25.9% in the fiscal year ended December 31, 2022 to 32.7% in the fiscal year ended December 31, 2023. Operating expenses NewGenIvf’s operating expenses were $1,359,134 and $1,663,952 for the nine month period ended September 30, 2024 and the nine month period ended September 30, 2023, respectively. This represents a decrease of 18% from the nine month period ended September 30, 2023, due to no more one-time charged from legal and professional fee in connection with NewGenIvf’s de-SPAC merger which was completed on April 3, 2024, and additional legal and professional charges for a debt finance by the convertible promissory note in the amount of $291,659 and recognized in the nine months period ended September 30, 2024. NewGenIvf’s operating expenses increased by approximately 43.9% from US$1,139,064 in the fiscal year ended December 31, 2022 to US$1,639,543 in the fiscal year ended December 31, 2023, primarily attributable to auditor fees of US$362,149 incurred in 2022 being recognised in 2023 and listing legal and professional fees of US$183,527, other than these old fees incurred, there is the similar level with last year. Other income NewGenIvf’s other income increased decreased from $23,892 to $8,404 from the nine month period ended September 30, 2023 to the nine month period ended September 30, 2024. NewGenIvf’s other income increased from US$23,019 in the fiscal year ended December 31, 2022 to US$111,837