Company: XTKG
Filing Date: 2025-07-17
Form Type: 424B5
Source: 0001213900-25-064921
Chunk: 15

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-07-17
Form: 424B5
Chunk 15
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 to Ms. Yuxia Xu, the Chief Financial Officer of the Company (together with the issuance of Class B restricted Ordinary
Shares to Hogstream International Ltd., collectively referred to as the “issuance of B Shares”), as stock bonuses. The issuance of B Shares was calculated pursuant to the lowest trading bid price for the past 60 calendar
days from April 20, 2025 to June 18, 2025, which is $0.6200 per share, all of which will rank pari passu in all respects with all existing
shares of the Company.

<div align='center'>S-5</div>

Recent Regulatory Developments and Permissions Required from PRC Authorities

Our subsidiaries are subject
to certain legal and operational risks associated with being based in China and the complex and evolving PRC laws and regulations. PRC
laws and regulations governing the subsidiaries’ current business operations are sometimes vague and uncertain, and as a result
these risks may result in material change in the operations of our subsidiaries, significant depreciation of the value of our Class A
Ordinary Shares, a complete hindrance of our ability to offer or continue to offer our securities to investors, or cause the value of
such securities to significantly decline or be worthless. Recently, the PRC government adopted a series of regulatory actions and issued
statements to regulate business operations in China, including those related to data security and anti-monopoly concerns. However, since
these statements and regulatory actions are newly published, official guidance and related implementation rules have not been issued.
It is highly uncertain what future impact such modified or new laws and regulations will have on our daily business operations, the ability
to accept foreign investments and our continued listing on Nasdaq. For a detailed description of risks related to doing business in China,
see “Item 3. Key Information — D. Risk Factors — Risks Related to Doing Business in China” included in our most
recent annual report on Form 20-F.

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 may cause the value of such securities to significantly decline or be of little
or no value. For more details, see “Item 3. Key Information — D. Risk Factors — Risks Related to Doing Business in China
— The Chinese government may exert substantial