Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 0

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 3
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Item 3. KEY INFORMATION

A. [Reserved]

B. Capitalization and Indebtedness

Not applicable.

C. Reasons for the Offer and Use of Proceeds

Not applicable.

D. Risk Factors

Summary of the Risk Factors

An investment
in our securities involves a high degree of risk. You should carefully consider the risks described below, together with all of the other
information included in this Annual Report, before making an investment decision. If any of the following risks actually occurs, our business,
prospects, financial condition or results of operations could suffer. In that case, the trading price of our securities could decline,
and you may lose all or part of your investment. Below please find a summary of the principal risks that we face, organized under the
relevant headings.

All the
operational risks associated with being based in and having operations in China as discussed in relevant risk factors under “ Item
3. Key Information - D. Risk Factors - Risks Related to Our Business and Industry” also apply to operations in Hong
Kong and Macau. With respect to the legal risks associated with being based in and having operations in China as discussed in the relevant
risk factors under “ Item 3. Key Information - D. Risk Factors - Risks Related to Our Corporate Structure” and
“ Item 3. Key Information - D. Risk Factors - Risks Related to Doing Business in China,” the laws, regulations
and the discretion of China governmental authorities discussed in this Annual Report are expected to apply to China entities and businesses,
rather than entities or businesses in Hong Kong and Macau which currently operate under different sets of laws from mainland China. However,
there can be no assurance as to whether the government of Hong Kong or Macau will enact laws and regulations similar to mainland China,
or whether any laws or regulations of mainland China will become applicable to our operations in Hong Kong or Macau in the future. These
risks are discussed more fully in “ Item 3. Key Information - D. Risk Factors.”

Risks Related to Our Business and Industry

Risks and uncertainties related
to our business and industry include, but are not limited to, the following:

  Economic                                                                    

  The                                                                                                                                    

  If                                                                                                                                           
  we do not succeed in attracting new customers for our services and growing revenues from existing customers, we may not achieve our revenue  
  growth goals.                                                                                                                                
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