Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 250

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 19
Chunk 250
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 on from June 28, 2024 to December 16, 2025 and guaranteed by the Group’s CEO. The Group pledged fixed asset with the ...                        1,411,094                        1,126,776  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                                                                                                                                                            December 31,                     December 31,                 
  Short term bank loans                                                                                                                                                                                     $                 3,877,084      $                 3,943,718  

The movement short-term bank
loans are as follows:

                                                For the years ended December 31,                                                                         
                                                2024                                                   2023                       2022                   
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Beginning balance                             $                                       3,943,718      $           2,609,755      $           4,393,811  
  Additions                                                                             4,210,848                  3,954,300                  3,715,262  
  Repayments                                                                          ( 4,169,157                ( 2,542,050                ( 5,201,367  
  Foreign currency translation adjustments                                              ( 108,325                   ( 78,287                  ( 297,951  
  Ending balance                                $                                       3,877,084      $           3,943,718      $           2,609,755  

For the years ended December
31, 2024, 2023 and 2022, interest expense for above short term bank loans was $149,060, $144,080and $203,380, respectively, with the
weighted average interest rate of3.9%,4.1% and5.1%, respectively.

Note 12 - Lease

The Group has several operating
leases for offices. The Group’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Total lease expense for the
years ended December 31, 2024, 2023 and 2022 amounted to $460,284, $344,775and $162,799, respectively. Cash paid for amounts included
in the measurement of lease liabilities amounted to $321,317and $141,183for the years ended December 31, 2024 and 2023, respectively.

F-31