Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 172

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 10
Chunk 172
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 Articles of Association.

Transfer of Ordinary
Shares. Subject to the restrictions set out below, any of our shareholders may transfer all or any of his or her Ordinary
Shares by an instrument of transfer in the usual or common form prescribed by the NASDAQ Stock Market (the “ Designated Stock Exchange”)
or in or any other form approved by our Board. Our Board may, in its absolute discretion, decline to register any transfer of any Ordinary
Shares only where such share is not a fully paid up share (and being transferred to a person of whom it does not approve), or any share
issued under any share incentive scheme for employees or pursuant to any other agreement, contract or other such arrangement. If the Board
refuses to register a transfer of any share, it shall, within three months after the date on which the transfer was lodged with the Company,
send to each of the transferor and transferee notice of the refusal. The registration of transfers of shares or of any class of shares
may, subject to compliance with any notice requirement of the Designated Stock Exchange, be suspended at such times and for such periods
(not exceeding in the whole thirty (30) days in any year) as the Board may determine.

Inspection of Books
and Records. Holders of our Ordinary Shares have no general right under our Eighth Amended and Restated Memorandum
and Articles of Association to inspect or obtain copies of our list of shareholders or our corporate records. However, we will provide
our shareholders with annual audited financial statements. See “ Where You Can Find Additional Information.”

Issuance of Additional
Shares. Our Articles authorizes our Board to issue additional Ordinary Shares from time to time as our Board shall determine,
to the extent of available authorized but unissued shares. Our Articles also authorizes our Board to establish from time to time one or
more series of preference shares and to determine, with respect to any series of preference shares, the terms and rights of that series,
including:

  the designation of the series to be issued;                 
  the number of shares of the series;                         
  the dividend rights, conversion rights, voting rights; and  
  the liquidation preferences.                                

Our Board may issue preference
shares without action by our shareholders to the extent authorized but unissued. Issuance of these shares may dilute the voting power
of holders of Ordinary Shares.

Anti-Takeover Provisions. Some provisions of our Eighth Amended
and Restated Memorandum and Articles of Association may discourage,