Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063906
Chunk: 419

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 419
---
 Common Stock |         |   |
|:-----------------------------|:----|:-------------|--------:|:--|
| Balance at January 1, 2023   |     | $            |  77,200 |   |
| Impairment                   |     |              | (77,200 | ) |
| Balance at December 31, 2023 |     | $            |       — |   |

F-16

APTORUM GROUP LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Stated in U.S. Dollars) 5. INVESTMENT AND FAIR VALUE MEASUREMENT (cont.) For the year ended December 31, 2023, an impairment loss relating to an equity method investment amounted to $77,200, was recorded in other expenses, net, as the Group considered that the carrying amount of the equity method investment may not be recoverable, and this condition is determined to be other -than -temporary. Non-marketable investments The Group’s non -marketableinvestments are investments in privately held companies without readily determinable fair values. The carrying value of the non -marketableinvestments are adjusted based on price changes from observable transactions of identical or similar securities of the same issuer (referred to as the measurement alternative) or for impairment if the carrying amount of the non -marketableinvestments may not be fully recoverable. Any changes in carrying value are recorded within other income (expenses), net in the consolidated statements of operations and comprehensive loss. The following is a summary of annual upward or downwards adjustments and impairment recorded in other income (expenses), net, and included as adjustments to the carrying value of non -marketableinvestments held as of December 31, 2024, 2023 and 2022 based on the observable price in an orderly transaction for the same or similar security of the same issuers:

|                                                                                        |     | Year ended   
 December 31, 
 2024         |            |   |     | Year ended   
 December 31, 
 2023         |           |     | Year ended   
 December 31, 
 2022         |           |   |
|:---------------------------------------------------------------------------------------|:----|:-------------|:-----------|:--|:----|:-------------|----------:|:----|:-------------|----------:|:--|
| Upward adjustments                                                                     |     | $            | —          |   |     | $            | 6,431,088 |