Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 162

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 6
Chunk 162
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 structure for the directors. Our Board may exercise all the powers
of the Company to borrow money and to mortgage or charge our undertakings and property or any part thereof, to issue debentures, debenture
stock and other securities whenever money is borrowed or as security for any debt, liability or obligation of the Company or of any third
party.

D. Employees

As of the date of this Annual
Report, we had a total of 137 full-time employees, of which 62 are in research and development, 10 are in sales and marketing, 29 are
in technical and customer services, and 36 are in general administration.

We have signed standard employment,
comprehensive confidentiality and non-compete agreements with our management and standard confidentiality and non-compete terms with all
other employees. As required by the laws and regulations in China, we participate in various social security plans that are organized
by municipal and provincial governments, including pension insurance, medical insurance, unemployment insurance, maternity insurance,
job-related injury insurance and housing fund. We are required by PRC laws to make contributions to employee social security plans at
specified percentages of the salaries, bonuses and certain allowances of our employees, up to a maximum amount specified by the local
government from time to time.

We believe that we maintain
a good working relationship with our employees, and we have not experienced any labor disputes. None of our employee is represented by
a labor union or covered by collective bargaining agreements. We have not experienced any work stoppages.

E. Share Ownership

See Item 7 below.

F. Disclosure of A Registrant’s Action
to Recover Erroneously Awarded Compensation

Not applicable.

Item 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS