Company: APM
Filing Date: 2025-10-06
Form Type: S-4
Source: 0001213900-25-096656
Chunk: 493

Company: Aptorum Group Ltd
Filing Date: 2025-10-06
Form: S-4
Chunk 493
---
 entities for annual periods beginning after December15, 2024 on a prospective basis. The Group is still evaluating the effect of the adoption of this guidance. In November 2024, the FASB issued Accounting Standards Update No. 2024 -03, Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220 -40): Disaggregation of Income Statement Expenses (“ASU 2024 -03”), and in January 2025, the FASB issued Accounting Standards Update No. 2025 -01, Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220 -40): Clarifying the Effective Date (“ASU 2025 -01”). ASU 2024 -03requires additional disclosure of the nature of expenses included in the income statement as well as disclosures about specific types of expenses included in the expense captions presented in the income statement. ASU 2024 -03, as clarified by ASU 2025 -01, is effective for the Company’s annual reporting for the F-40

APTORUM GROUP LIMITED NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Stated in U.S. Dollars) 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) fiscal year ended March 31, 2028 and for interim period reporting beginning in the fiscal year ended March 31, 2029 on a prospective basis. Both early adoption and retrospective application are permitted. The Company is currently evaluating the impact that the adoption of these standards will have on its consolidated financial statements and disclosures. The Group does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material impact on the consolidated financial statements.

4. LONG-TERM INVESTMENT AND FAIR VALUE MEASUREMENT

As of June30, 2025 and December31, 2024, the Group’s long-term investment consists of non-marketable investments with carrying value of $ and equity method investment at fair value option with carrying value of $nil.

Non-marketable investments

The Group’s non-marketable investments are investments in privately held companies without readily determinable fair values. The carrying value of the non-marketable investments are adjusted based on price changes from observable transactions of identical or similar securities of the same issuer (referred to as the measurement alternative) or for impairment if the carrying amount of the non-marketable investments may not be fully recoverable. Any changes in carrying