Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 68

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 4
Chunk 68
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 years ended December 31, 2024 and 2023,
no vendor contributed more than 10% of total direct cost of the Group. NewGenIvf’s procurement team is experienced in selecting
cost-effective supplies as well as selecting reliable suppliers. NewGenIvf’s major suppliers are pharmaceutical companies.

Competition

NewGenIvf believes that it
is a long-standing provider of ARS in Asia Pacific that competes primarily based on the following competitive factors:

  the value and comprehensiveness of the solutions;  

  treatment that is effective and achieves desired outcomes;  

  clients’ experience, including dedicated patient education, clinical guidance and emotional support; and  

  access to a network of high-quality fertility specialists.  

NewGenIvf competes primarily
with other regional fertility service providers. While NewGenIvf does not believe any single competitor offers a comparably robust and
integrated fertility solution package as NewGenIvf in the regions that it operates, NewGenIvf’s competitors may compete in a variety
of ways, including by providing better services, having established local connections, fulfilling the evolving client’s needs, as
well as conducting brand promotions and other marketing activities.

As NewGenIvf may introduce
new ancillary services and other companies may introduce similar fertility services as NewGenIvf’s, NewGenIvf may become subject
to additional competition.

Facilities

As of December 31, 2024, in
addition to its clinics, NewGenIvf leased one property in Hong Kong with an aggregate square footage of approximately 8,000 for its
administration support offices. NewGenIvf also operates its medical facilities as described above in “ - Network of Facilities”
above. NewGenIvf believes that its existing facilities are suitable and adequate to meet its current needs.

C. Organizational Structure

The following is a list of
our principal subsidiaries and consolidated affiliated entities as of the date of this Report:

  Name                                                              Place of Formation       Relationship                                                                     
  NewGenIvf Limited                                                 Cayman Islands           Wholly-owned subsidiary                                                          
  Incorporated on January 16, 2019                                                                                                                                            
  FFPGS (HK) Ltd                                                    Hong Kong                Indirect subsidiary, wholly owned by NewGenIvf Limited                           
  Incorporated on December 19, 2019                                                                                                                                           
  Bi Clinic LLC                                                     Kyrgyzstan               Indirect subsidiary, wholly owned by NewGenIvf Limited                           
  Acquired on December 17, 2024