Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 208

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 16G
Chunk 208
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Item 16G. CORPORATE GOVERNANCE

As a Cayman Islands exempted
company listed on the Nasdaq Stock Market, we are subject to the Nasdaq listing standards. However, the Nasdaq Stock Market Rules permit
a foreign private issuer like us to follow the corporate governance practices of its home country. We have utilized the exemption afforded
by Nasdaq Listing Rule 5615(a)(3) to follow home country practice in lieu of certain requirements, including (i) the independence requirements
for compensation committee and nomination committee as provided in Nasdaq Listing Rule 5605(d) and (e); (ii) the requirement that a majority
of the Board must be independent as provided in Nasdaq Listing Rule 5615(b)(1); (iii) the requirement to hold annual general meeting as
provided in Nasdaq Listing Rule 5620(a); (iv) the requirement to obtain shareholders’ approval prior to a plan or other equity compensation
arrangement is established or materially amended as provided in Nasdaq Listing Rule 5635(c); and (v) the requirement of shareholder approval
for entering into any transaction, other than a public offering, involving the sale, issuance or potential issuance by the Company of
ordinary shares (or securities convertible into or exercisable for ordinary shares) equal to 20% or more of the outstanding share capital
of the Company or 20% or more of the voting power outstanding before the issuance for less than the greater of book or market value of
the ordinary shares as provided in Nasdaq Listing Rule 5635(d). Our shareholders may be afforded less protection than they would otherwise
enjoy under the Nasdaq listing standards applicable to U. S. domestic issuers given our reliance on the home country practice exception.

See “ Item 3. Key Information
 - D. Risk Factors - Risks Related to Our Corporate Structure - As an exempted company incorporated in the Cayman Islands,
we are permitted to adopt certain home country practices in relation to corporate governance matters that differ significantly from the
Nasdaq listing standards; these practices may afford less protection to shareholders than they would enjoy if we complied fully with such
corporate governance listing standards”.

See “ Item 6. Directors,
Senior Management and Employees” for more information.

Item 16H. MINE SAFETY DISCLOSURE