Company: XTKG
Filing Date: 2025-07-17
Form Type: 424B5
Source: 0001213900-25-064921
Chunk: 16

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-07-17
Form: 424B5
Chunk 16
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 influence over the manner in which we must conduct our business activities. We
are currently not required to obtain approval from Chinese authorities to issue securities to foreign investors, however, if our subsidiaries
or the holding company were required to obtain approval in the future and were denied permission from Chinese authorities to list on U.S.
exchanges, we will not be able to continue listing on U.S. exchange, which would materially affect the interest of the investors”
on page 30 to 33 of our most recent annual report on Form 20-F.

Based on PRC laws and regulations
in effect as of the date of this prospectus supplement, and subject to different interpretations of these laws and regulations that may
be adopted by PRC authorities, the PRC subsidiaries were required to and have obtained the relevant business licenses from the governing
local branches of State Administration for Market Regulations, which sets forth the scope of business operations each subsidiary is allowed
to conduct as well as the approvals necessary to operate in China as of the date of this prospectus supplement. We believe that we and
our subsidiaries have obtained all the licenses and approvals necessary to operate in China and that we do not need any other licenses
or approvals for our operations in mainland China or Hong Kong. We believe that we are not required to obtain approval from any PRC government
authorities, including the CSRC, the CAC, or any other government entities, to issue of our Class A Ordinary Shares to foreign investors.
However, the Standing Committee of the National People’s Congress (the “SCNPC”) or PRC regulatory authorities may in
the future promulgate laws, regulations or implementing rules that requires us or our subsidiaries to obtain permissions from the
PRC regulatory authorities to approve their operations.

Under the Measures of Cybersecurity
Review which were promulgated on December 28, 2021 and entered into force and effect on February 15, 2022, if critical information infrastructure
operators purchase network products and services, or network platform operators conduct data processing activities that affect or may
affect national security, they will be subject to cybersecurity review. A network platform operator holding more than one million users/users’
individual information shall be subject to cybersecurity review before listing abroad. In the opinion of our PRC legal counsel, Promise-U
Law Firm, the business operations of our subsidiaries do not currently involve the procurement of network products and services or data
processing as network platform operators. Our PRC legal counsel has further advised us that the Measures of Cybersecurity