Company: APM
Filing Date: 2025-10-06
Form Type: S-4
Source: 0001213900-25-096656
Chunk: 500

Company: Aptorum Group Ltd
Filing Date: 2025-10-06
Form: S-4
Chunk 500
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 were derived from the United States during the six months ended June 30, 2025 and 2024. Therefore, no United States profit tax has been provided for in the periods presented. On a semi -annuallybasis, the Group evaluates the realizability of deferred tax assets by jurisdiction and assesses the need for a valuation allowance. In assessing the realizability of deferred tax assets, the Group considers historical profitability, evaluation of scheduled reversals of deferred tax liabilities, projected future taxable income and tax -planningstrategies. Valuation allowances have been provided on deferred tax assets where, based on all available evidence, it was considered more likely than not that some portion or all of the recorded deferred tax assets will not be realized in future periods. After consideration of all positive and negative evidence, the Group believes that as of June 30, 2025, it is more likely than not the deferred tax assets will not be realized. 11. RELATED PARTY BALANCES AND TRANSACTIONS The following is a list of a director and related parties to which the Group has transactions with: (a)Ian Huen, the Chief Executive Officer and Executive Director of the Group since November 2023. He was a Non -executiveDirector from June 2022 to November 2023. Before June 2022, he was the Chief Executive Officer and Executive Director; (b)Aeneas Group Limited, an entity controlled by Ian Huen; F-44

APTORUM GROUP LIMITED NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Stated in U.S. Dollars) 11. RELATED PARTY BALANCES AND TRANSACTIONS (cont.)

(c)Jurchen Investment Corporation, the holding company and an entity controlled by Ian Huen;

(d)Libra Sciences Limited, an entity which was originally a wholly owned subsidiary of Aptorum Therapeutics Limited (“ATL”). Since December 30, 2021, Libra has been turned into a related party to the Group due to the voting power owned by ATL is decreased to below % but more than %; (Note 12).

Amounts due from related party

Amounts due from related party consisted of the following as of June 30, 2025 and December 31, 2024:

|                                 |     |            | June 30, 
     2025 |   |     |   | December 31, 
         2024 |   |
|:--------------------------------|:----|:-----------