Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 261

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 19
Chunk 261
---
37

X3 HOLDINGS CO., LTD.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 16 - Equity(continued)

On November 4, 2024, the Company
held the annual general meeting. At the meeting, the Company’s shareholders approved the following among other items: (a) a share
consolidation of every twenty (20) issued and unissued Class A ordinary shares with par value of $0.40each in the Company’s issued
and unissued share capital be consolidated into one (1) share with par value of $8; (b) the authorized share capital of the Company be
increased from $2,000,000,000divided into250,000,000shares of par value of $8each, to $40,000,000,000divided into5,000,000,000shares
of par value of $8each, consisting of4,999,000,000Class A ordinary shares of a par value of $8.0each and1,000,000Class B ordinary
shares of a par value of $8each, by creation of an additional4,750,000,000Class A ordinary shares of a nominal or par value of $8each;
(c)19,000,000Class A ordinary shares of the additional4,750,000,000authorized Class A ordinary shares be redesignated as Class B ordinary
shares, such the authorized share capital of the Company shall be changed to $40,000,000,000divided into (i)4,980,000,000Class A ordinary
shares of a par value of $8.00each; and (ii)20,000,000Class B ordinary shares of a par value of $8.00each. On November 22, 2024, the
Company paid cash to certain minor shareholders and cancelled1,761(post-reverse stock split adjusted to293) Class A ordinary shares
due to share consolidation reconciliation.

On February 10, 2025, the
Company held an extraordinary general meeting. At the meeting, the Company’s shareholders approved the following among other items:
(a) a share consolidation of every six (6) issued and unissued Class A ordinary shares with par value of $8each in the Company’s
issued and unissued share capital be consolidated into one (1) share with par value of $48; (b) the authorized share capital of the Company
be increased from $