Company: XTKG
Filing Date: 2025-06-04
Form Type: 424B5
Source: 0001213900-25-051196
Chunk: 18

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-06-04
Form: 424B5
Chunk 18
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and the potential impact such modified or new laws and regulations will have on our daily business operations, ability to accept foreign
investments and listing on the Nasdaq. If we do not receive or maintain the approvals, or we inadvertently conclude that such approvals
are not required, or applicable laws, regulations, or interpretations change such that we are required to obtain approval in the future,
we may be subject to an investigation by competent regulators, fines or penalties, ordered to suspend our relevant business and rectify,
prohibited from engaging in relevant business, or subject to an order prohibiting us from conducting an offering, and these risks could
result in a material adverse change in our operations, significantly limit or completely hinder our ability to continue to offer securities
to investors, or cause such securities to significantly decline in value or become worthless. 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 most recent annual report on Form 20-F.

The PRC regulatory
authorities may impose restrictions and penalties on the operations in China, significantly limit or completely hinder our ability to
launch any new offering of our securities, limit our ability to pay dividends outside of China, delay or restrict the repatriation of
the proceeds from future capital raising activities into China, or take other actions that could materially and adversely affect our business,
results of operations, financial condition and prospects, as well as the trading price of our Class A Ordinary Shares. Furthermore, the
PRC government authorities may further strengthen oversight and control over listings and offerings that are conducted overseas. Any such
action may adversely affect our operations and significantly limit or completely hinder our ability to offer or continue to offer securities
to you and cause the value of such securities to significantly decline or be worthless.

<div align='center'>S-7</div>

Holding Foreign Companies Accountable Act and its Implications

Trading in our securities
may be prohibited under the Holding Foreign Companies Accountable Act, or the HFCA Act, if the PCAOB determines