Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 48

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 3
Chunk 48
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 properties.

Changes in China’s economic,
political or social conditions, or government policies could materially and adversely affect our business, financial condition, and results
of operations. We cannot predict whether the resulting changes will have any adverse effect on our current or future business, financial
condition or results of operations. Despite these economic reforms and measures, the PRC government continues to play a significant role
in regulating industrial development. It also exercises significant control over China’s economic growth through the allocation
of resources, controlling payment of foreign currency- denominated obligations, setting monetary policies, restricting the inflow and
outflow of foreign capital and providing preferential treatment to particular industries or companies. The PRC government also has significant
authority to exert influence on the ability of a China-based company, such as our Company, to conduct its business. There can be no assurance
that the PRC government will continue to pursue a policy of economic reform or that the direction of reform will continue to be market
friendly. Our ability to successfully expand business operations in the PRC depends on a number of factors, including macro-economic and
other market conditions. Demand for our future products in the Chinese market and our business, financial condition and results of operations
may be materially and adversely affected by the following factors, which might be affected by a number of variables that are beyond our
control:

  changes                                        
  in political or social conditions of the PRC;  
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  changes                                                                             
  in laws, regulations, and administrative directives or the interpretation thereof;  
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  measures                                                        
  which may be introduced to control inflation or deflation; and  
 ──────────────────────────────────────────────────────────────────

  changes                             
  in the rate or method of taxation.  
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The PRC government has recently
indicated its intent to exert more oversight and control over offerings that are conducted overseas and foreign investment in China-based
issuers. Such actions could significantly limit or completely hinder our ability to offer or continue to offer securities to investors
and cause the value of such securities to significantly decline or be worthless. For instance, anti-monopoly regulators in mainland China
have promulgated new anti-monopoly and competition laws and regulations and strengthened the enforcement under these laws and regulations.
There remain uncertainties as to how the laws, regulations and guidelines recently promulgated will be implemented and whether these laws,
regulations