Company: NIVFW
Filing Date: 2025-05-20
Form Type: F-1/A
Source: 0001213900-25-045737
Chunk: 54

Company: NewGenIvf Group Ltd
Filing Date: 2025-05-20
Form: F-1/A
Chunk 54
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 remains uneven. Traditional growth drivers, especially manufacturing and agricultural commodities exports, have fully recovered. However, while travel and tourism have improved, the sector remains well below pre-COVID-19 levels. The subsequent impact also caused the vendors and customers preference change, lower the willingness travelling to Kyrgyzstan for surrogacy services. The economy is projected to grow, underpinned by merchandise exports and domestic economic activity. Foreign direct investment, while diversified, remains affected by China’s related COVID-19 policies. NewGenIvf also derives a substantial portion of its revenue from Chinese clients and as such, its maintenance of PRC-sourced revenues and access to new and existing clients from the PRC are also subject to the economic conditions of China. However, the near-term growth prospects of the PRC economy are unclear due to the uncertain effects of ongoing economic stress caused by policies to contain the COVID-19 pandemic, trade and national security policies, and the elevated levels of private and public indebtedness, among others. According to the National Statistics Bureau of the PRC, growth rate of China’s GDP for the year 2022 slowed down to 3.0% on a year-on-year basis compared to the growth rate of approximately 8.4% for the year 2021. In 2023, China’s GDP grew 5.2% while China’s 2024 GDP growth rate was 5%. A prolonged downturn in the PRC economy generally could materially and adversely affect NewGenIvf’s results of operations. Factors that may adversely affect the economy and conditions in such countries include:

| ● | political instability; |

| ● | global economic conditions; |

| ● | exchange rate fluctuations and the exchange control policy of the banks; |

35

| ● | a prolonged period of inflation or increase in regional interest rates; |

| ● | changes in taxation; |

| ● | changes in government policies affecting import and export volumes; |

| ● | decline in tourism; |

| ● | natural disasters, including tsunamis, earthquakes, fires, floods, 
 drought and similar events;                                        |

| ● | a potential recurrence or outbreak of avian influenza, severe acute                                                                    
 respiratory syndrome or other infectious or contagious diseases like COVID-19 in Asian countries, and governmental policies to address 
 such outbreak;                                                                                                                         |

| ● | scarcity of credit or other financing, resulting in lower demand for 
 products and services provided by companies in the region;           |

| ● | increases in oil prices and other commodity