Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 207

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 207
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ants that make electronic filings with the SEC using its EDGAR system.
As a foreign private issuer, we are exempt from the rules of the Exchange Act prescribing, among other things, the furnishing and content
of proxy statements to shareholders, and our executive officers, directors and principal shareholders are exempt from the reporting and
short-swing profit recovery provisions contained in Section 16 of the Exchange Act.

We also maintain a corporate
website at www. aptorumgroup. com. Information contained on, or that can be accessed through, our website does not constitute a part of
this report.

I. Subsidiary Information

For a listing of our subsidiaries,
see “ Item 4. Information on the Company - A. History and Development of the Company.”

J. Annual Report to Security Holders.

Not applicable.

Item 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK

For purposes of Item 11,
reference to the “ Group” means Aptorum Group Limited and all of its subsidiaries.

Foreign Exchange Risk

Currency risk is the risk
that the value of financial assets or liabilities will fluctuate due to changes in foreign exchange rates.

Currency risk sensitivity analysis

At December 31, 2024, and 2023, the Group has no significant foreign
currency risk because most of the transactions are denominated in Hong Kong dollar or the United States dollar. Since the Hong Kong dollar
is pegged to the United States dollar, the Group’s exposure to foreign currency risk in respect of the balances denominated in Hong
Kong dollars is considered to be minimal.

Credit Risk

Financial assets which potentially
subject the Group to concentrations of credit risk consist principally of bank deposits and balances.

The Group takes on exposure
to credit risk on cash balances majority held with HSBC for the purposes of payments of Group expenses. The risk of default is considered
minimal as the Group considers HSBC is well established with high credit rating.

Liquidity Risk

Liquidity risk is the risk
that the Group will encounter difficulty in raising funds to meet commitments associated with financial assets and liabilities. Liquidity
risk may result from an inability to sell a financial asset quickly at an amount close to its fair value.

The Group invested in private
equities which are generally unquoted and not readily marketable before its restructuring to an operating company. After the restructuring
in 2017, the Group generally does not acquire new investments in unlisted securities that cannot be readily disposed of