Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 213

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 15
Chunk 213
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set forth in the report “ Internal Control - Integrated Framework (2013)” published by the Committee of Sponsoring Organizations
of the Treadway Commission. Based on this evaluation, management concluded that our internal control over financial reporting was effective
as of December 31, 2024.

In connection with the previous
audit of our financial statements for the year ended December 31, 2024, we and our independent registered public accounting firm identified
one material weakness in our internal control over financial reporting, as defined in the standards established by the Public Company
Accounting Oversight Board of the United States. The material weakness identified was the lack of dedicated resources to take responsibility
for the finance and accounting functions and the preparation of financial statements in compliance with generally accepted accounting
principles in the United States, or U. S. GAAP.

Since 2019, we took actions
to remediate the abovementioned material weakness, and we believe we have remediated the material weakness by implementing the following
measures:

  provide trainings to staff regarding to the preparation of financial statements in compliance with generally accepted accounting principles in the United States;  

  change to a new and well-established accounting system to enhance effectiveness and financial and system control;  
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  establish clear roles and responsibilities for accounting and financial reporting staff to address finance and accounting issues; and  

  continue to monitor the improvement on internal control over financial reporting.  

However, since we are still
in the process of replenishing and building up a qualified finance and accounting team with sufficient dedicated resources, our management
assessed that the deficiency related to the lack of dedicated resources to take responsibility for the finance and accounting functions
and the preparation of financial statements in compliance with generally accepted accounting principles in the United States, or U. S.
GAAP, still existed as of December 31, 2024.

We cannot assure you that
we will not identify additional material weaknesses or significant deficiencies in the future. See “ Item 3. Key Information - D.
Risk Factors - Risks Related to Our Industry, Business and Operation - If we fail to establish and maintain proper internal
financial reporting controls, our ability to produce accurate financial statements or comply with applicable regulations could be impaired.”

Notwithstanding there is a
material weakness identified as described above, we believe that our consolidated financial statements contained in this annual report
on Form 20-F fairly present our financial position, results