Company: APM
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001213900-25-111548
Chunk: 139

Company: Aptorum Group Ltd
Filing Date: 2025-11-17
Form: F-1
Chunk 139
---
 will respond and what existing or new laws or regulations or detailed implementations and interpretations will be modified or promulgated, if any. It is also highly uncertain what potential impact such modified or new laws and regulations will have on Aptorum Group’s daily business operations, our ability to accept foreign investments and the listing of Aptorum Class A ordinary shares on a U.S. or other foreign exchanges. If there is significant change to current political arrangements between mainland China and Hong Kong, the PRC government intervenes or influences operations of companies operated in Hong Kong like us, or exerts more control through change of laws and regulations over offerings conducted overseas and/or foreign investment in issuers like us, it may result in a material change in our operations and/or the value of the securities we are registering for sale or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and cause the value of Aptorum Class A ordinary shares to significantly decline or become worthless. Operations in Hong Kong may be subject to risks associated with the broader PRC that could adversely affect our business. There are several risks associated with our operations in Hong Kong, including but not limited to:

| ● | Regulatory Changes and Governmental Control: The PRC government                                                                       
 has significant authority to intervene in the operations of businesses, and any changes in laws, regulations, or enforcement policies 
 could adversely impact our operations in Hong Kong and any future opportunities in the region.                                        |

| ● | Geopolitical and Economic Instability: Ongoing tensions between                                                                            
 the PRC and other countries, particularly the U.S., may affect trade policies, tariffs, and overall market conditions, which could disrupt 
 our supply chain or future business in Hong Kong.                                                                                          |

| ● | Currency and Capital Flow Restrictions: The PRC government imposes                                                                      
 controls on the movement of funds into and out of the country, which could limit our ability to repatriate funds or invest in remaining 
 operations.                                                                                                                             |

| ● | Hong Kong’s Evolving Legal Environment: The integration                                                                   
 of certain aspects of Hong Kong’s governance with the PRC’s legal framework has created uncertainties regarding autonomy, 
 regulatory consistency, and legal protections.                                                                            |

Any adverse developments related to our operations in Hong Kong could have a material adverse effect on our business, financial condition, and results of operations. 76 Uncertainties with respect to the legal system of the People’s Republic of China (the “PRC”) and tax regime, including uncertainties regarding the enforcement of laws, and sudden or