Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 3

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 3
Chunk 3
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result in reduced overall spending on our system solutions.

We cannot predict the timing,
strength or duration of any economic slowdown, instability or recovery, generally or within any particular industry. If the economic conditions
of the general economy or industries in which we operate do not improve, or worsen from present levels, our business, operating results,
financial condition and cash flows could be adversely affected.

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.

The market for our services
is characterized by rapid technological changes, evolving industry standards, changing customer preferences and new product and service
introductions. Our future growth and success depend significantly on our ability to anticipate developments in technologies, and develop
and offer new services to meet our customers’ evolving needs. We may not be successful in anticipating or responding to these developments
in a timely manner, or if we do respond, the services or technologies we develop may not be successful in the marketplace. The development
of some of the services and technologies may involve significant upfront investments and the failure of these services and technologies
may result in us being unable to recover these investments, in part or in full. Further, services or technologies that are developed by
our competitors may render our services uncompetitive or obsolete. In addition, new technologies may be developed that allow our customers
to more cost-effectively perform the services that we provide, thereby reducing demand for our services. Should we fail to adapt to the
rapidly changing technologies or if we fail to develop suitable services to meet the evolving and increasingly sophisticated requirements
of our customers in a timely manner, our business and results of operations could be materially and adversely affected.

Furthermore, our future growth
and success could be adversely affected by conditions of potential business partners, which may cause delay or failure in development
of the services or technologies.

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 plan to significantly expand
the number of customers we serve to diversify our customer base and grow our revenues. Obtaining new customers is important for us to
achieve rapid revenue growth. We also plan to grow revenues from our existing customers by identifying and selling additional services
to them. Our ability to attract new customers, as well as our ability to grow revenues from existing customers, depends on various factors,
including our ability to offer high quality services at competitive prices, the strength of