Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 138

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 138
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and control over offerings (including of businesses whose primary operations are in Hong Kong) that are conducted overseas and/or
foreign investments in Hong Kong-based issuers could significantly limit or completely hinder our ability to offer or continue to
offer securities to investors and cause the value of our securities, including Aptorum Class A ordinary shares, to significantly
decline or be worthless.

The enactment of Law of the PRC on Safeguarding National Security in the Hong Kong Special Administrative Region (the “Hong Kong National Security Law”) could impact our Hong Kong holding subsidiary.

On June 30, 2020, the
Standing Committee of the PRC National People’s Congress adopted the Hong Kong National Security Law. This law defines the
duties and government bodies of the Hong Kong National Security Law for safeguarding national security and four categories of offences — secession,
subversion, terrorist activities, and collusion with a foreign country or external elements to endanger national security — and
their corresponding penalties. On July 14, 2020, the former U.S. President Donald Trump signed the Hong Kong Autonomy Act,
or HKAA, into law, authorizing the U.S. administration to impose blocking sanctions against individuals and entities who are determined
to have materially contributed to the erosion of Hong Kong’s autonomy. On August 7, 2020 the U.S. government imposed
HKAA-authorized sanctions on eleven individuals, including former HKSAR chief executive Carrie Lam. On October 14, 2020, the U.S. State
Department submitted to relevant committees of Congress the report required under HKAA, identifying persons materially contributing to
“the failure of the Government of China to meet its obligations under the Joint Declaration or the Basic Law.” The HKAA further
authorizes secondary sanctions, including the imposition of blocking sanctions, against foreign financial institutions that knowingly
conduct a significant transaction with foreign persons sanctioned under this authority. The imposition of sanctions may directly affect
the foreign financial institutions as well as any third parties or customers dealing with any foreign financial institution that is targeted.
It is difficult to predict the full impact of the Hong Kong National Security Law and HKAA on Hong Kong and companies located
in Hong Kong. If our Hong Kong subsidiaries are determined to be in violation of the Hong Kong National Security Law or
the HKAA by competent authorities, our business operations, financial position and results of operations could be materially and adversely
affected.

The Hong Kong legal system embodies uncertainties which could limit the availability of legal protections.

As one