Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 100

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 100
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 the current benefits that we believe are available to us from developing
and manufacturing drugs in the PRC. Chinese authorities have become increasingly vigilant in enforcing laws in the pharmaceutical industry
and any failure by us or our partners to maintain compliance with applicable laws and regulations or obtain and maintain required licenses
and permits may result in the suspension or termination of our business activities in the PRC. We believe our strategy and approach is
aligned with the PRC government’s policies, but we cannot ensure that our strategy and approach will continue to be aligned.

Changes in the political and
economic policies of the PRC government may materially and adversely affect our business, financial condition and results of operations
and may result in our inability to sustain our growth and expansion strategies. Our financial condition and results of operation in the
PRC could be materially and adversely affected by government control over capital investments or changes in tax regulations that are applicable
to us, and consequently have a material adverse effect on our businesses, financial condition and results of operations.

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If the U.S. Public Company Accounting Oversight Board, or the PCAOB, is unable to inspect our auditors as required under the Holding Foreign Companies Accountable Act, the SEC will prohibit the trading of our Class A Ordinary Shares. A trading prohibition for our Class A Ordinary Shares, or the threat of a trading prohibition, may materially and adversely affect the value of your investment. Additionally, the inability of the PCAOB to conduct inspections of our auditors would deprive our investors of the benefits of such inspections.

On March 24, 2021, the SEC
adopted interim final rules relating to the implementation of certain disclosure and documentation requirements of the HFCAA. An identified
issuer will be required to comply with these rules if the SEC identifies it as having a “non-inspection” year under a process
to be subsequently established by the SEC. On June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable
Act, and on December 29, 2022, legislation entitled “Consolidated Appropriations Act, 2023” (the “Consolidated Appropriations
Act”) was signed into law by President Biden, which contained, among other things, an identical provision to the Accelerating Holding
Foreign Companies Accountable Act and amended the HFCAA by requiring the SEC to prohibit an issuer’s securities from trading on
any U.S stock exchanges if its auditor is not subject to PCAOB inspections for two