Company: XTKG
Filing Date: 2025-07-17
Form Type: 424B5
Source: 0001213900-25-064921
Chunk: 51

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-07-17
Form: 424B5
Chunk 51
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OP”) with the China Securities Regulatory Commission and the
Ministry of Finance of China. The SOP, together with two protocol agreements governing inspections and investigations, establishes a
specific, accountable framework to make possible complete inspections and investigations by the PCAOB of audit firms based in mainland
China and Hong Kong, as required under U.S. law. On December 15, 2022, the PCAOB announced that it was able to secure complete access
to inspect and investigate PCAOB-registered public accounting firms headquartered in mainland China and Hong Kong completely in 2022
and vacated the 2021 Determinations that the PCAOB was unable to inspect or investigate completely registered public accounting firms
headquartered in mainland China and Hong Kong. As of the date of this annual report, the PCAOB has not issued any new determination that
it is unable to inspect or investigate completely registered public accounting firms headquartered in any jurisdiction. However, whether
the PCAOB will be able to continue to conduct inspections and investigations completely to its satisfaction of PCAOB-registered public
accounting firms headquartered in mainland China and Hong Kong is subject to uncertainty and depends on a number of factors out of our,
and our current auditor’s, control, including positions taken by authorities of the PRC. The PCAOB is expected to continue to demand
complete access to inspections and investigations against accounting firms headquartered in mainland China and Hong Kong in the future.
The PCAOB is required under the HFCAA to make its determination on an annual basis with regard to its ability to inspect and investigate
completely accounting firms based in mainland China and Hong Kong. The possibility of being a “Commission-Identified Issuer”
and the risk of delisting could continue to adversely affect the trading price of our securities. Should the PCAOB again encounter impediments
to inspections and investigations in mainland China or Hong Kong as a result of positions taken by any authority in either jurisdiction,
the PCAOB will make determinations under the HFCAA as and when appropriate. For details, see “Risk Factors — Risks Related
to Doing Business in China — Our Ordinary Shares may be delisted under the HFCAA if the PCAOB is unable to inspect auditors or
their affiliates that are located in mainland China. The delisting of our Ordinary Shares, or the threat of such delisting, may materially
and adversely affect the value of your investment. Additionally, the inability of the PCAOB to conduct inspections deprives our investors
of the benefits of such inspections.”, which is included in our