Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 251

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 251
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 or detailed
implementations and interpretations will be modified or promulgated, if any. It is also highly uncertain what potential impact such modified
or new laws and regulations will have on Aptorum Group’s daily business operations, its ability to accept foreign investments and
the listing of Aptorum Class A ordinary shares on a U.S. or other foreign exchange. If there is significant change to current
political arrangements between mainland China and Hong Kong, the PRC government intervenes or influences operations of companies
operated in Hong Kong like us, or exerts more control through change of laws and regulations over offerings conducted overseas and/or
foreign investment in issuers like us, it may result in a material change in our operations and/or the value of the securities we are
registering for sale or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors
and cause the value of Aptorum Class A ordinary shares to significantly decline or become worthless. (Please see the risk factor
section, “Risks Related to our Corporate Structure” and “Risks Related to Doing Business in Hong Kong” for
more information).

Hong Kong Regulation

The operations of laboratory in Hong Kong
are subject to certain general laws and regulations.

Waste Disposal Ordinance

The Waste Disposal Ordinance
(Chapter 354 of the Laws of Hong Kong) (“WDO”) and the Waste Disposal (Clinical Waste) (General) Regulation (Chapter 354O
of the Laws of Hong Kong) (the “WDR”) provide for, among others, the control and regulation of the production, storage,
collection and disposal of clinical waste.

Under the WDO, clinical waste
means waste consisting of any substance, matter or thing generated in connection with:

| ● | a dental, medical, nursing or veterinary practice; |

| ● | any other practice, or establishment (howsoever described),                                                   
 that provides medical care and services for the sick, injured, infirm or those who require medical treatment; |

| ● | dental, medical, nursing, veterinary, pathological or pharmaceutical 
 research; or                                                         |

| ● | a dental, medical, veterinary or pathological laboratory practice, |

and which consists wholly or partly of
any of the materials specified in one or more of the groups listed below:

| ● | used or contaminated sharps; |

| ● | laboratory waste; |

| ● | human and animal tissues; |

| ● | infectious materials; |

| ● | dressings; and |

| ●