Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 147

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4
Chunk 147
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 scope of cybersecurity reviews,
and expanding the efforts in anti-monopoly enforcement. Since these statements and regulatory actions are new, it is highly uncertain
how soon the legislative or administrative regulation making bodies will respond and what existing or new laws or regulations 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 our 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 our 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;