Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 82

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 4
Chunk 82
---
 of the equity interest of Boxinrui. The Company will hold an aggregate of 35% equity interest
of the Boxinrui following the closing of the Second Boxinrui Acquisition and the First Boxinrui Acquisition of 20% equity interest of
the Boxinrui in June 2022. Boxinrui wholly owns Hong Kong Anxin Jieda Co., Limited (“ Anxin Jieda”), which in turn owns 90%
equity interest in Ascendent Insights Education Co., Ltd. (“ AIedu”) (also previously known as Shenzhen Wenxing Tianxia Technology
Co., Ltd.). AIedu mainly engaged in Artificial Intelligence, Blockchain and NFT technology in the educational industry. Such acquisition
is aligned with the Company’s metaverse strategy as the Company intends to utilize AIedu’s business know-how and technology
to expand the Company’s operation.

On October 27, 2022, the Company
entered into an equity transfer agreement with six individual shareholders of DTI Group Limited (“ DTI”), pursuant to which
the Company agreed to purchase 19% equity interest of DTI Jiangsu Corporation Limited (“ DTI Jiangsu”)

On May 1, 2024, we acquired
100% equity interest in Hong Kong Hongyi Holdings Limited (“ Hongyi”) and its 100% held subsidiary Shenzhen Hongchuangxin Technology
Co., Ltd. (“ Hongchuangxin”) is engaged in AI education and hardware equipment sales. The fair value of the consideration for
this acquisition was approximately $13.9 million.

On January 12, 2025, Zhuhai
Hongzhi Cultural Technology Co., Ltd. (“ Zhuhai Hongzhi”) was incorporated under the laws of PRC, in which Powerbridge Technology
Group Co., Ltd. holds a 35% equity interest. Zhuhai Hongzhi aims to develop an AI educational hub integrating AI-powered teaching, academic
advancement support, and multifunctional learning spaces.

On April 9, 2025, Zhanjiang
Huarong Enterprise Management Service Co., Ltd. (“ Zhanjiang Huarong”) was incorporated under the laws of the PRC, in with
Powerstream Supply Chain Co., Ltd. holds a 36% equity interest. Zhanjiang Huarong primarily engages in cross-border e-commerce and international
trade.

The Company is subject to
the informational requirements of the Securities Exchange Act of 1934, as amended, and will