Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 221

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 221
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 due to error or fraud. The Company is not required to have, nor were we engaged
to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding
of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s
internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess
the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Critical Audit Matters

Critical audit matters are matters arising from
the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and
that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging,
subjective, or complex judgments. We determined that there are no critical audit matters.

/s/Marcum Asia CPAs
llp

Marcum Asia CPAs llp

We have served as the Company’s auditor since 2017.

New York, NY

April 30, 2025

NEW YORK OFFICE●7 Penn Plaza●Suite 830●New York, New York●10001

Phone 646.442.4845●Fax 646.349.5200●www. marcumasia. com

F-2

APTORUM GROUP LIMITED

CONSOLIDATED BALANCE SHEETS

December 31, 2024 and 2023

(Stated in U. S. Dollars, except for number of
shares)

                                                                                                                                                                                                            December 31,                        December 31,                    
  ASSETS                                                                                                                                                                                                                                                                        
  Current assets:                                                                                                                                                                                                                                                               
  Cash and cash equivalents                                                                                                                                                                                 $                      874,238      $                    2,005,351  
  Accounts receivable                                                                                                                                                                                                                    -                              47,709  
  Amounts due from related parties, net                                                                                                                                                                                                  -                                 961  
  Other receivables and prepayments                                                                                                                                                                                                 85,316                             422,071  
  Total current assets                                                                                                                                                                                                             959,554                           2,476,