Company: NIVFW
Filing Date: 2025-10-31
Form Type: 424B3
Source: 0001213900-25-104469
Chunk: 118

Company: NewGenIvf Group Ltd
Filing Date: 2025-10-31
Form: 424B3
Chunk 118
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of the need to offer fertility services and the value it provides to its clients, which it believes will help facilitate its growth.
In addition, NewGenIvf is continuously utilizing its established client relationships to evaluate other potential services that could
benefit its clients and simultaneously drive its growth.

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International traveling conditions

The revenue from international
clients is a critical component of NewGenIvf’s revenue. International traveling to Thailand, Cambodia and Kyrgyzstan may be affected
by a number of factors, including local and global political, economic and cultural conditions. Furthermore, an outbreak, or threatened
outbreak, of any severe contagious disease may also in turn significantly reduce the demand of traveling. For example, the COVID-19 pandemic
has had resulted in a number of countries declaring a state of emergency and a number of countries, including the countries in Asian
Pacific, imposing extensive travel restrictions. NewGenIvf’s revenue in the year 2021 was significantly adversely affected due
to the impact from COVID-19 travel restrictions. In addition, a Chinese crime thriller, No More Bets, which has grossed more than
$500 million at the international box office since its August 2023 release and which tells the harrowing story of characters being lured
and kidnapped into a violent scam ring in an unnamed Southeast Asian country after accepting lucrative overseas job offers, and the continuing
social media coverage may have brought fears and safety concerns to Chinese tourists of being scammed and kidnapped in Thailand and Cambodia.
In addition, in October 2023, a 14-year-old with a gun opened fire in a luxury shopping mall in downtown Bangkok, killing two people
and injuring five in one of Thailand’s most popular tourist destinations. These conditions may cause NewGenIvf difficulty in attracting
clients from the PRC to travel to Thailand, Cambodia and Kyrgyzstan for NewGenIvf’s services, which could materially and adversely
affect NewGenIvf’s operations and financial results.

Given the uncertainty of
the local and global conditions and the countries’ future policy regarding international traveling, all of which are beyond NewGenIvf’s
control, NewGenIvf’s results of operation may be materially and adversely affected by any changes in international travelling conditions.

Key Components of Results of Operations

NewGenIvf’s revenues
were derived from two types of services: IVF treatment services and surrogacy and ancillary caring services.

Revenue

The following table sets
forth NewGenIvf