Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 129

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 129
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OWELL GLOBAL LTD.

INDEX TO CONSOLIDATED F INANCIAL STATEMENTS

  CONTENTS                                                                                                                Page (S)  
  REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (PCAOB ID: 6907)                                                F-2       
  REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (PCAOB ID: 5395)                                                F-4       
  CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2024 AND 202 3                                                           F-5       
  CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 202 2      F-6       
  CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 202 2        F-7       
  CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 202 2                             F-8       
  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS                                                                              F-9       

F-1

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM

To the Board of Directors and shareholders of
Jowell Global Ltd.

Opinion on the Financial Statements

We have audited the accompanying consolidated
balance sheet of Jowell Global Ltd. and its subsidiaries (the “ Company”) as of December 31, 2024 and 2023, the related consolidated
statements of operations and comprehensive loss, changes in stockholders’ equity, and cash flows for the years ended December 31,
2024 and 2023, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion,
the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31,
2024 and 2023, and the results of its operations and cash flows for the years ended December 31, 2024 and 2023, in conformity with accounting
principles generally accepted in the United States of America (“ U. S. GAAP”).

Material Uncertainty Related to Going Concern

The
consolidated financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note 3 to
the financial