Company: NIVFW
Filing Date: 2025-10-10
Form Type: F-1/A
Source: 0001213900-25-098135
Chunk: 205

Company: NewGenIvf Group Ltd
Filing Date: 2025-10-10
Form: F-1/A
Chunk 205
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 PAYABLES

Accrued liabilities and other payables consist
of the following:

|                                  |     | December 31, |    2024 |     |   |    2023 |
|:---------------------------------|:----|:-------------|--------:|:----|:--|--------:|
| Accrued expenses                 |     | $            | 201,455 |     | $ |  43,633 |
| Customer deposit                 |     |              |   6,349 |     |   |       - |
| Withholding tax payable          |     |              |   4,361 |     |   |   7,349 |
| Independent director fee payable |     |              |  20,000 |     |   |       - |
| Compensation payable (Note 1)    |     |              | 100,802 |     |   | 144,015 |
| Other payables                   |     |              | 167,762 |     |   |  46,616 |
|                                  |     | $            | 500,729 |     | $ | 241,613 |

F-21

NOTE 9 — CONTRACT LIABILITIES

Contract liabilities consist of the following:

|                                       |     | December 31, |    2024 |   |     |   |       2023 |   |
|:--------------------------------------|:----|:-------------|--------:|:--|:----|:--|-----------:|:--|
| Balance at beginning of year          |     | $            |   7,937 |   |     | $ |  1,360,168 |   |
| Additions                             |     |              |  75,340 |   |     |   |    112,006 |   |
| Recognized to revenue during the year |     |              | (19,788 | ) |     |   |   (122,662 | ) |
| Refund to customers (Note 1)          |     |              |       - |   |     |   | (1,341,575 | ) |
| Balance at end of year                |     | $            |  63,489 |   |     | $ |      7,937 |   |

| Note 1: | Refund to customers are in relation to China-based clients who prepaid for surrogacy and ancillary caring services but requested for refund of