Company: XTKG
Filing Date: 2025-06-04
Form Type: 424B5
Source: 0001213900-25-051196
Chunk: 2

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-06-04
Form: 424B5
Chunk 2
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 China Securities Regulatory Commission, or the CSRC, and whether we are required to complete other
filings or obtain any specific regulatory approvals from the CSRC, the Cyberspace Administration of China, or the CAC, or any other PRC
government authorities for our overseas offerings and listings, as applicable. In addition, if future regulatory developments mandate
clearance of cybersecurity review or other specific actions to be completed by China-based companies listed on foreign stock exchanges,
such as us, we face uncertainties as to whether such clearance can be timely obtained, or at all. These risks may impact our ability to
conduct certain businesses, accept foreign investments, or list and conduct offerings on a stock exchange in the United States or any
other foreign country. These risks could result in a material adverse change in our operations and the value of our Class A Ordinary
Shares, significantly limit or completely hinder our ability to continue to offer securities to investors, or cause the value of such
securities to significantly decline or become worthless. For a detailed description of risks relating to doing business in China, see
“Item 3. Key Information — D. Risk Factors — Risks Related to Doing Business in China”
in our annual report on Form 20-F for the year ended December 31, 2024 (“2024 Form 20-F”).

The PRC government’s
significant authority in regulating our operations and its oversight and control over offerings conducted overseas by, and foreign investment
in, China-based issuers could significantly limit or completely hinder our ability to offer or continue to offer securities to investors.
Implementation of industry-wide regulations in this nature, such as data security or anti-monopoly related regulations, may cause the
value of such securities to significantly decline. For more details, see “Item 3. Key Information — D. Risk
Factors — Risks Related to Doing Business in China — The Chinese government may exert substantial influence
over the manner in which we must conduct our business activities. We are currently not required to obtain approval from Chinese authorities
to issue securities to foreign investors, however, if our subsidiaries or the holding company were required to obtain approval in the
future and were denied permission from Chinese authorities to list on U.S. exchanges, we will not be able to continue listing on U.S.
exchange, which would materially affect the interest of the investors” in our 2024 Form 20-F.

Risks and uncertainties regarding
the interpretation and enforcement of laws and quickly evolving rules and regulations in China, could result in