Company: NIVFW
Filing Date: 2025-08-22
Form Type: DRS
Source: 0001213900-25-079717
Chunk: 213

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-22
Form: DRS
Chunk 213
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are presented as a separate component of equity on the consolidated balance sheets and net (loss) income and other comprehensive loss
are attributed to controlling and non-controlling interests respectively.

Concentration of credit risk

Financial instruments that
potentially expose us to concentrations of credit risk consist primarily of cash and cash equivalents and account receivable. The Company
places cash and cash equivalents with financial institutions with high credit ratings and quality.

Accounts receivable primarily
comprise of amounts receivable from the service customers. The Company conducts credit evaluations of customers, and generally does not
require collateral or other security from its customers. The Company establishes an allowance for doubtful accounts primarily based upon
the factors surrounding the credit risk of specific customers. Furthermore, the risk is mitigated by ascertaining upfront payments for
services prior to their performance.

<div align='center'>F-17</div>

Concentration of customers

As of December 31, 2024 and
2023, one and two customers respectively which individually contributed more than 10% of trade receivable, and accounted for 89% and 96.3%
of the Company’s trade receivable respectively.

None of the customers contributed
more than 10% of revenue for years ended December 31, 2024 and 2023.

Concentration of suppliers

As of December 31, 2024 and
2023, nil and one supplier respectively which individually contributed more than 10% of trade payable, accounted for nil % and 30.6% of
the Company’s trade payable respectively.

For both the years ended
December 31, 2024 and 2023, no vendor contributed more than 10% of total purchases of the Company.

The Company’s financial
instruments, including cash and cash equivalents, accounts receivables, net, deposits, other receivables and deferred IPO cost, net, loan
to A SPAC I, accounts payables, accrued liabilities and other payables, and due from (to) shareholders, have carrying amounts that approximate
their fair values due to their short maturities. ASC Topic 820, “Fair Value Measurements and Disclosures” requires disclosing
the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments” defines fair value
and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements
for fair value measures. The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, accounts and
other receiv