Company: XTKG
Filing Date: 2025-02-18
Form Type: F-3/A
Source: 0001213900-25-014646
Chunk: 18

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-02-18
Form: F-3/A
Chunk 18
---
 include, but are not limited to, the following:

| ● | Economic                                                                   
 uncertainties or downturns could materially adversely affect our business. |

| ● | The                                                                                                                                   
 growth and success of our business depends on our ability to develop new services and enhance existing services in order to keep pace 
 with rapid changes in technology.                                                                                                     |

| ● | 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.                                                                                                                               |

| ● | We                                                                                                                                           
 may be unable to effectively manage our expansion for the anticipated growth, which could place significant strain on our management         
 personnel, systems and resources. We may not be able to achieve anticipated growth, which could materially and adversely affect our business 
 and prospects.                                                                                                                               |

| ● | We                                                                                                                                           
 face risks associated with having an extended selling and implementation cycle for our services that require us to make significant resource 
 commitments prior to realizing revenues for those services.                                                                                  |

| ● | Adverse                                                                                                                              
 changes in the economic environment, either in China or globally, could reduce our customers’ purchases from us and increase pricing 
 pressure, which could materially and adversely affect our revenues and results of operations.                                        |

| ● | We                                                                                                                                         
 generate a significant portion of our revenues from a relatively small number of major customers and loss of business from these customers 
 could reduce our revenues and significantly harm our business.                                                                             |

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

| ● | We                                                                                                                                     
 may be forced to reduce the prices of our services due to increased competition and reduced bargaining power with our customers, which 
 could lead to reduced revenues and profitability.                                                                                      |

| ● | A                                                                                                                                      
 portion of our income is generated, and will in the future continue to be generated, on a project basis with a fixed price; we may not 
 be able to accurately estimate costs and determine resource requirements in relation to our projects, which would reduce our margins   
 and profitability.                                                                                                                     |

Risks Related to Our Corporate Structure Risks and uncertainties related to our corporate structure include, but are not limited to, the following:

| ● | We                                                                                                                                     
 are a Cayman Islands company and, because judicial precedent regarding the rights of shareholders is more limited under Cayman Islands 
 law than under U.S. law, shareholders may have less protection for their shareholder rights than they would under U.S. law.            |

| ● | Judgments                                                       
 obtained against us by our shareholders may not be enforce