Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 130

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 130
---
 processor processing
the personal information of more than one million individuals shall apply for a cybersecurity review. Data processor means an individual
or organization that independently makes decisions on the purpose and manner of processing in data processing activities, and data processing
activities refers to activities such as the collection, retention, use, processing, transmission, provision, disclosure, or deletion
of data. Currently we do not expect the Review Measures to have an impact on the business and operations of our Hong Kong subsidiaries,
because (i) our Hong Kong subsidiaries are incorporated and operating in Hong Kong without any subsidiary or variety interest entity
(“VIE”) structure in mainland China, and it is unclear whether the Review Measures shall be applied to a Hong Kong company;
(ii) as of the date of hereof, our Hong Kong subsidiaries have not collected or stored personal information of any individual clients
of mainland China; and (iii) as of the date hereof, our Hong Kong subsidiaries have not been informed by any PRC governmental authority
of any requirement that it file for a cybersecurity review for the offering. Based on laws and regulations currently in effect in the
PRC as of the date hereof, we believe our Hong Kong subsidiaries are not required to pass the cybersecurity review of the CAC in order
to list our Class A Ordinary Shares in the U.S.

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In addition, on February 17,
2023, the CSRC promulgated the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies, or the
Trial Measures, and five supporting guidelines, which came into effect on March 31, 2023. Pursuant to the Trial Measures, domestic companies
that seek to offer or list securities overseas, both directly and indirectly, shall complete filing procedures with the CSRC pursuant
to the requirements of the Trial Measures within three working days following its submission of initial public offerings or listing application.
If a PRC company fails to complete required filing procedures or conceals any material fact or falsifies any major content in its filing
documents, such PRC company may be subject to administrative penalties, such as order to rectify, warnings, fines, and its controlling
shareholders, actual controllers, the person directly in charge and other directly liable persons may also be subject to administrative
penalties, such as warnings and fines. In addition, on February 24, 2023, the CSRC, together with Ministry of Finance of the PRC, National
Administration of State Secrets Protection and