Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 13

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4
Chunk 13
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 all 46,875 issued and outstanding
Preferred Shares and 340,654 Ordinary Shares and therefore will have substantial influence over our business, including decisions regarding
mergers, consolidations and the sale of all or substantially all of our assets, election of directors and other significant corporate
actions.

The Company has subsidiaries in countries and
jurisdictions including PRC and Hong Kong. Details of the subsidiaries and VIE of the Company are set out below:

  Name of Entity        Date of                Place of                  % of      Principal              
                        Incorporation          Incorporation        Ownership      Activities             
  Jowell Tech           June 24, 2019          Hong Kong                  100      Holding Company        
  Shanghai Jowell       October 15, 2019       Shanghai, China            100      Holding Company        
  Shanghai Juhao*       July 31, 2012          Shanghai, China         0 (VIE      Online Retails         
  Shanghai Lianfu       April 13, 2023         Shanghai, China            100      Live Stream Ecommerce  
  Baotou Juhaoyuan      September 5, 2024      Baotou, China               55      Trading                
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  Shanghai Juhao has five wholly owned Juhao Best Choice Stores, located                                                               

On March 19, 2021, the Company closed its initial
public offering (“ IPO”) of 3,714,286 ordinary shares, par value $0.0001 per share, priced at $7.00 per share. On March
23, 2021, the underwriter exercised its over-allotment option to purchase an additional 557,143 ordinary shares at a price of $7.00 per
share. The net proceeds of the Company’s IPO, including the proceeds from the sale of the over-allotment shares, totaled approximately
$25.7 million, after deducting underwriting discounts and other related expenses. The Ordinary Shares have been listed on the Nasdaq Capital
Market and trading under the ticker symbol “ JWEL” since March 17, 2021. The share numbers and par value in this paragraph
are before Share Consolidation in October 2023.

On July 27, 2021, Shanghai Juhao entered into
a Capital Increase Agreement (the “ Agreement”) with Suzhou Industrial Park Hongrun Rural Small Amount Loan Co., Ltd. (“ Hongrun