Company: XTKG
Filing Date: 2025-06-04
Form Type: 424B5
Source: 0001213900-25-051196
Chunk: 4

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-06-04
Form: 424B5
Chunk 4
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 in mainland China and Hong Kong and voted to vacate its previous determinations issued in December 2021.
As such, we were not identified as a “Commission-Identified Issuer” under the HFCA Act for the fiscal year ended December 31,
2024. Notwithstanding the foregoing, in the event it is later determined that the PCAOB is unable to inspect or investigate completely
our auditor, then such lack of inspection could cause our securities to be delisted from Nasdaq Stock Market. In addition, whether the
PCAOB will continue be able to conduct inspections and investigations completely to its satisfaction of PCAOB-registered public accounting
firms headquartered in mainland China and Hong Kong are subject to uncertainty and depends on a number of factors out of our, and our
auditors’ 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 HFCA Act to make its determination on an annual basis with regards to its ability to inspect and investigate completely accounting
firms based in the mainland China and Hong Kong. The possibility of being a “Commission-Identified Issuer” and 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 HFCA Act as and when appropriate. On December 29, 2022, the Accelerating Holding Foreign Companies Accountable
Act was enacted, which amended the Holding Foreign Companies Accountable Act, by requiring the SEC to prohibit an issuer’s securities
from trading on any U.S. stock exchanges if its auditor is not subject to PCAOB inspections for two consecutive years instead of three.
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” in
our 2024 Form 20-F.

Under PRC laws