Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 184

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 184
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iquidity Risk

Liquidity risk is the risk that the Group will encounter difficulty
in raising funds to meet commitments associated with financial assets and liabilities. Liquidity risk may result from an inability to
sell a financial asset quickly at an amount close to its fair value.

Prior to 2017, the Group invested in private equities which are generally
unquoted and not readily marketable before its restructuring to an operating company. Investment of the Group’s assets in unquoted
securities may restrict the ability of the Group to dispose of its investment at a price and time it wishes to do so.

Interest Rate Risk

Interest rate risk arises from the possibility that changes in interest
rates will affect future cash flows or the fair values of financial instruments.

Interest rate risk sensitivity analysis

The Group’s cash deposits and bank loan held with banks are exposed
to interest rate risk. However, management considers the risk on cash deposits to be minimal as they are short-term with terms less than
one month.

With regard to interest rate sensitivity on our bank loans, we present
the sensitivity analysis below based on the exposure to interest rates for interest bearing bank loans with variable interest rates as
of December 31, 2024. The analysis is prepared assuming that those balances outstanding as of December 31, 2024 were outstanding for the
whole financial year. A 1.0% increase or decrease which represents the management’s assessment of the reasonably possible change
in interest rates is used. Assuming no change in the outstanding balance of our existing interest bearing bank loans balances with floating
interest rates as of December 31, 2024, a 1.0% increase or decrease in each applicable interest rate would increase or decrease $30,000
to our interest expense for the year ended December 31, 2024. We have not used any derivative financial instruments to manage our interest
risk exposure.

Inflation Risk

In recent years, inflation has not had a material impact on our results
of operations.

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APTORUM’S OPERATING AND FINANCIAL REVIEW AND PROSPECTS</div>

The following discussion of Company’s financial condition and
results of operations is based upon and should be read in conjunction with our consolidated financial statements and their related notes
included herein.

This prospectus includes consolidated financial statements for the
years ended December 31, 2024, 2023, and 2022. However, as permitted by Instruction 6 to Item 5 of Form