Company: XTKG
Filing Date: 2025-06-04
Form Type: 424B5
Source: 0001213900-25-051196
Chunk: 3

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-06-04
Form: 424B5
Chunk 3
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 a material adverse change
in our operations and the value of our Class A Ordinary Shares. For more details, see “Item 3. Key Information — D.
Risk Factors — Risks Related to Doing Business in China — Uncertainties with respect to the PRC legal
system, including uncertainties regarding the interpretation and enforcement of laws, and sudden or unexpected changes
in laws and regulations in China could adversely affect us and limit the legal protections available to you and us” in our 2024
Form 20-F.

In addition, our Ordinary
Shares may be prohibited from trading on a national exchange or over-the-counter under the Holding Foreign Companies Accountable Act (“HFCA
Act”) if the Public Company Accounting Oversight Board (United States) (the “PCAOB”) is unable to inspect our auditor
for three consecutive years. Our current auditor, Onestop Assurance PAC, the independent registered public accounting firm that issued
our financial reports incorporated by reference in this prospectus supplement
or included in our most recent annual report on Form 20-F, are registered with the PCAOB. The PCAOB conducts regular inspections
to assess their compliance with the applicable professional standards. Onestop Assurance PAC is headquartered in Singapore. On December 16,
2021, the PCAOB issued a report notifying the SEC of its determinations (the “PCAOB Determinations”) that they are unable
to inspect or investigate completely PCAOB-registered public accounting firms headquartered in mainland China and Hong Kong. The report
sets forth lists identifying the registered public accounting firms headquartered in mainland China and Hong Kong, respectively, that
the PCAOB is unable to inspect or investigate completely, and as of the date of this prospectus supplement, Onestop Assurance PAC is not
included in the list of PCAOB Identified Firms in the PCAOB Determinations issued on December 16, 2021. On August 26, 2022,
the CSRC, the Ministry of Finance of the PRC (the “MOF”), and the PCAOB signed a Statement of Protocol (the “Protocol”),
governing inspections and investigations of audit firms based in China and Hong Kong. Pursuant to the Protocol, the PCAOB shall have independent
discretion to select any issuer audits for inspection or investigation and has the unfettered ability to transfer information to the SEC.
On December 15, 2022, the PCAOB announced that it was able to secure complete access to inspect and investigate completely registered
public accounting firms headquartered