Company: APM
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001213900-25-111548
Chunk: 177

Company: Aptorum Group Ltd
Filing Date: 2025-11-17
Form: F-1
Chunk 177
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 fair value. Prior to 2017, the Group invested in private equities which are generally unquoted and not readily marketable before its restructuring to an operating company. Investment of the Group’s assets in unquoted securities may restrict the ability of the Group to dispose of its investment at a price and time it wishes to do so. Interest Rate Risk Interest rate risk arises from the possibility that changes in interest rates will affect future cash flows or the fair values of financial instruments. Interest rate risk sensitivity analysis The Group’s cash deposits and bank loan held with banks are exposed to interest rate risk. However, management considers the risk on cash deposits to be minimal as they are short-term with terms less than one month. With regard to interest rate sensitivity on our bank loans, we present the sensitivity analysis below based on the exposure to interest rates for interest bearing bank loans with variable interest rates as of December 31, 2024. The analysis is prepared assuming that those balances outstanding as of December 31, 2024 were outstanding for the whole financial year. A 1.0% increase or decrease which represents the management’s assessment of the reasonably possible change in interest rates is used. Assuming no change in the outstanding balance of our existing interest bearing bank loans balances with floating interest rates as of December 31, 2024, a 1.0% increase or decrease in each applicable interest rate would increase or decrease $30,000 to our interest expense for the year ended December 31, 2024. We have not used any derivative financial instruments to manage our interest risk exposure. Inflation Risk In recent years, inflation has not had a material impact on our results of operations. 99 APTORUM’S OPERATING AND FINANCIAL REVIEW AND PROSPECTS The following discussion of Company’s financial condition and results of operations is based upon and should be read in conjunction with our consolidated financial statements and their related notes included herein. This prospectus includes consolidated financial statements for the years ended December 31, 2024, 2023, and 2022. However, as permitted by Instruction 6 to Item 5 of Form 20-F, a discussion of the changes in our results of operations for the years ended December 31, 2022, and 2021 has been omitted, but may be found in “Item 5. Operating And Financial Review And Prospects” in our annual report on Form 20-F for the year ended December 31, 2022, filed with the SEC on April