Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 199

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 199
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 ten percent or more of our shares; and  
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  persons holding Class A Ordinary Shares in connection with a trade or business conducted outside the United States.  

If an entity or arrangement
that is classified as a partnership for U. S. federal income tax purposes holds Class A Ordinary Shares, the U. S. federal income tax treatment
of such partnership and each partner thereof will generally depend on the status of the partner and the activities of the partnership.
Partnerships holding Class A Ordinary Shares and partners in such partnerships are encouraged to consult their tax advisors as to the
particular U. S. federal income tax consequences of purchasing, holding and disposing of Class A Ordinary Shares.

The discussion is based on
the Code, the Treasury Regulations issued thereunder, and administrative and judicial interpretations thereof, all as in effect on the
date hereof and all of which are subject to change, possibly with retroactive effect, or to different interpretation. Such change could
materially and adversely affect the tax consequences described below.

For purposes of this discussion,
a “ U. S. Holder” is a holder who, for U. S. federal income tax purposes, is a beneficial owner of Class A Ordinary Shares and
that is:

  (1)      an individual citizen or resident of the United States;                                                                                                                                               
  (2)      a corporation, or other entity taxable as a corporation, created or organized in or under the laws of the United States, any state therein or the District of Columbia;                               
  (3)      an estate, the income of which is subject to U. S. federal income taxation regardless of its source; or                                                                                               
  (4)      a trust, (i) if a court within the United States is able to exercise primary supervision over its administration and one or more “ U. S. persons” (within the meaning of the Code) have the autho...  

U. S. Holders are encouraged
to consult their tax advisors concerning the U. S. federal, state, local and foreign tax consequences of purchasing, owning and disposing
of Class A Ordinary Shares in their particular circumstances.

Taxation of Distributions

Subject to the discussion
below under “ Passive Foreign Investment Company Rules,” a U. S. Holder will be required to include in gross income as dividend
income the gross amount of any distributions paid on Class A Ordinary Shares (including any amount of taxes withheld), other than certain pro
rat