XTKGFServices-Computer Programming ServicesIFRS · EUR

X3 Holdings Co., Ltd.

X3 Holdings Co., Ltd. is a Singapore-headquartered holding company that operates a mix of digital technology, cryptomining, renewable energy, and agriculture technology businesses. Its portfolio structure spans subsidiaries and operations in multiple regions, with exposure to services and technology-enabled businesses rather than a single product line.

Liikevaihto6,3milj. EUR
−45,8 %v/v
Liikevoitto (EBIT)−32,1milj. EUR
+61,5 %v/v
EBIT-marginaali−510,9%
+207,4 %-yks.v/v
Nettotulos−26,2milj. EUR
+65,6 %v/v
Vapaa kassavirta−3,5milj. EUR
−102,1 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−100−75−50−2502550milj. EUR2020: 27 milj. EUR2020: EBIT −3,3 milj. EUR20202021: 32 milj. EUR2021: EBIT −8,1 milj. EUR20212022: 10 milj. EUR2022: EBIT −20 milj. EUR20222023: 17 milj. EUR2023: EBIT −54 milj. EUR20232024: 12 milj. EUR2024: EBIT −83 milj. EUR20242025: 6,3 milj. EUR2025: EBIT −32 milj. EUR20256,3−32
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Digital solutions and technology services40 %

Technology-enabled services and software-oriented solutions delivered across multiple industries.

Cryptomining operations25 %

Operations tied to cryptocurrency mining and related infrastructure.

Renewable energy20 %

Energy-related activities linked to cleaner power and infrastructure projects.

Agriculture technology15 %

Technology applications and services for agriculture and agri-business use cases.

Tuotteet

Raportoitu · osuus liikevaihdosta
49,1%38,6%11,1%FY2025100 %
  • Application Development Services49,1 %
  • Consulting and Technical Support Services38,6 %
  • Subscription Services11,1 %
  • Others Revenue1,2 %

Lähde: 20-F FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

X3 Holdings appears to sell to a mix of enterprise, project, and industry end users across its technology and operations portfolio. Its digital solutions likely serve organizations seeking technology services, while its other activities are tied to counterparties in energy, mining, and agriculture ecosystems. The business model implies a diversified customer base rather than a single recurring client group.

Enterprise technology customers

Organizations that purchase digital solutions and technology services for business operations or transformation.

Cryptomining counterparties

Customers and ecosystem participants tied to mining-related operations and infrastructure use.

Renewable energy counterparties

Project partners, operators, or buyers involved in energy-related activities and deployments.

Agriculture technology users

Agricultural businesses or operators using technology-enabled tools and services.

Strategia

X3 Holdings’ strategy appears to center on operating a diversified portfolio across digital technologies, cryptomining, renewable energy, and agriculture technologies. That mix suggests a focus on participation in multiple growth themes while retaining flexibility across different industry cycles and capital needs.

Diversified multi-segment portfolioKeskipitkä aikaväli

Spreads exposure across technology, mining, energy, and agriculture themes.

Global operating footprintKeskipitkä aikaväli

Supports access to different markets, partners, and regulatory environments.

Capital markets accessLyhyt aikaväli

A public listing supports funding, visibility, and corporate flexibility.

Maantiede

The company is headquartered in Singapore and describes subsidiaries and operations globally, indicating a geographically dispersed operating model. The available filings do not disclose a detailed revenue split by country or region, but the business is structured around cross-border activities. Geography matters because regulatory, energy, technology, and digital-asset exposures can vary meaningfully by jurisdiction.

Riskit

The company faces execution risk from operating several distinct businesses under one holding-company structure, which can complicate management focus and capital allocation. It also has listing-compliance risk tied to Nasdaq requirements, along with industry risks from digital technology, cryptomining, renewable energy, and agriculture technology exposures. Cross-border operations add regulatory, jurisdictional, and counterparties risks.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Nasdaq delisting or continued listing non-compliance1Cryptomining volatility and regulatory pressure2Multi-segment execution risk3Cross-border regulatory and compliance risk4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Nasdaq delisting or continued listing non-complianceVaikutus: KorkeaTodennäköisyys: Korkea

    The company disclosed a minimum bid price deficiency and hearing process.

    Kohdistuu: Public equity market access and liquidity

  2. Cryptomining volatility and regulatory pressureVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Mining economics depend on crypto prices, energy costs, and regulation.

    Kohdistuu: Cryptomining operations

  3. Multi-segment execution riskVaikutus: KeskitasoTodennäköisyys: Korkea

    Operating unrelated business lines can strain capital allocation and oversight.

    KohdistuuDigitalEnergyAgriculture segments
  4. Cross-border regulatory and compliance riskVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    A global subsidiary structure increases legal and reporting complexity.

    Kohdistuu: Singapore and other operating jurisdictions

Kirjanpito

Harkinnanvaraiset erät
Consolidation and segment allocation

The holding-company structure requires careful consolidation and cost attribution across businesses.

Vaikutus: Affects segment reporting and comparability

Asset impairment

Cryptomining and project-based assets can become impaired if cash flows weaken.

Vaikutus: Can materially affect reported earnings and asset values

Fair value estimates

Certain holdings or project assets may require valuation assumptions.

Vaikutus: Can create earnings volatility

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 28.9.2026

X3 Holdings Co., Ltd. – Services-Computer Programming Services | Analyysi – Clarifo