Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 144

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 144
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 financial condition and results of operations, and cause the Aptorum Class A
ordinary shares to significantly decline in value or become worthless.

As of the date hereof, we believe
are not required to obtain approvals from the PRC authorities to operate our business or list on the U.S. exchanges and offer or
continue to offer securities; specifically, we are currently not required to obtain any permission or approval from the CSRC, the CAC
or any other PRC governmental authority to operate our business or to list our securities on a U.S. securities exchange or issue
securities to foreign investors. However, if we and our Hong Kong subsidiaries (i) do not receive or maintain such approval,
should the approval be required in the future by the PRC government, (ii) inadvertently conclude that such approval is not required,
or (iii) applicable laws, regulations, or interpretations change and we are required to obtain such approval in the future, our operations
and financial condition could be materially adversely affected, and our ability to offer or continue to offer securities to investors
could be significantly limited or completely hindered and the securities currently being offered may substantially decline in value and
become worthless.

Nevertheless, since these statements
and regulatory actions are new, it is highly uncertain how soon the legislative or administrative regulation making bodies 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