Company: NIVFW
Filing Date: 2025-08-21
Form Type: DRS
Source: 0001213900-25-079301
Chunk: 125

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-21
Form: DRS
Chunk 125
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Cost of revenue

NewGenIvf’s cost of
revenue increased by approximately 4.4% from US$3,454,368 in 2023 to 3,606,481 in 2024.

Cost of goods sold

NewGenIvf’s cost of
goods sold increased by approximately 5.8% from US$594,984 in 2023 to US$629,620 in 2024, primarily attributed to the increase on procurement
costs. The increase in IVF treatment services, directly leading to increase in cost of goods sold.

Clinic costs

NewGenIvf’s clinic costs
increased by approximately 4.1% from US$2,859,384 in 2023 to US$2,976,861 in 2024, primarily due to the relocation arrangement, certain
daily operating schedules stopped, resulting in the clinic’s service being temporarily ceased.

Gross profit

NewGenIvf’s gross profit
increased by approximately 8.6% from US$1,681,785 in 2023 to US$1,826,894 in 2024 to, 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
slightly increased from 32.7% in 2023 to 33.6% in 2024.

Operating expenses

NewGenIvf’s operating
expenses increased by approximately 82.2% from US$1,639,543 in 2023 to US$2,987,389 in 2024, primarily attributable to (i) professional
fees of US$769,820 incurred in 2024 being related to business combination with ACSA and the convertible note financing; (ii) license fee
of US$123,000 in 2024 related to the use of MicroSort technology; and (iii) staff and director salary and personnel cost of US$888,861
in 2024 due to enlargement of sales force and administrative staff to implement our business expansion pan.

Other income

NewGenIvf’s other income
increased from US$111,837 in 2023 to US$971,391 in 2024, primarily attributable to a partial waiver of promissory note and legal fee payable.

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