Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 80

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 4
Chunk 80
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 Powerbridge Zhuhai was incorporated
on October 30, 1997 under the laws of the People’s Republic of China, as a wholly-owned subsidiary of Powerbridge HK and a wholly
foreign-owned entity under the PRC laws.

X3 Holdings is currently
not engaged in any active business other than acting as a holding company. We conduct our business mainly through Powerbridge Zhuhai,
Powerbridge HK and Hongding HK.

On April 2, 2019, our ordinary
shares commenced trading on Nasdaq under the symbol “ PBTS”.

On January 29, 2024, in the
interest of our strategic transformation on global expansion and our commitment to broader technological and business horizons, we have
shifted our full operation of global headquarter to Singapore and rebranded from Powerbridge Technologies to X3 Holdings. Accordingly,
we have changed our corporate name from Powerbridge Technologies Co., Ltd. to X3 Holdings Co., Ltd. Our ordinary shares began trading
on Nasdaq under the new symbol “ XTKG” effective on January 30, 2024.

On August 17, 2021, Powerstream
Supply Chain Co., Ltd. (“ Powerstream”) was incorporated under the laws of the PRC, as a wholly-owned subsidiary of Powerbridge
HK and a wholly foreign-owned entity under the PRC laws. Powerstream Zhuhai is engaged in supply chain services and new business development.

On October 1, 2021, Powercrypto
Holding Pte. Ltd. (“ Powercrypto”) was incorporated under the laws of Republic of Singapore and Powerbridge Cayman is the sole
shareholder of Powercrypto. Powercrypto is planning to engage in cryptocurrencies mining and digital asset related business.

On January 21, 2022, Powermeta
Digital Co., Ltd. (“ Powermeta”) was incorporated under the laws of PRC, as a wholly-owned subsidiary of Powerbridge HK. Powermeta
is planning to engage in development of interactive media services, metaverse and digital services.

On February 15, 2022, Metafusion
Digital Co., Ltd. (“ Metafusion”) was incorporated under the laws of PRC and 66% stake of Metafusion is owned by Powermeta.
Metafusion is planning to engage in IPs development, metaverse and digital services.

On May 4, 2022, POWERCRYPTO
Inc. (“ POWERCRYPTO”) was incorporated under the laws of United States, as a wholly-owned subsidiary of Powerbridge