Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 57

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4
Chunk 57
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 (iv)
voluntary or mandatory delisting. The New Overseas Listing Rules stipulate the legal consequences to the companies for breaches,
including failure to fulfill filing obligations or filing documents having false statement or misleading information or material omissions,
which may result in administrative penalties such as order to rectify, warnings and a fine ranging from RMB1 million to RMB10 million,
and in cases of severe violations, the controlling shareholders, actual controllers, the person directly in charge and other directly
liable persons may also be subject to administrative penalties, such as warnings and fines and may be barred from entering the securities
market.

Regulations Relating to Employment

Pursuant to the Labor Law of PRC, promulgated
by the NPC in July 1994 and revised in August 2009 and December 2018 (the “ Labor Law”), and the Labor Contract Law of PRC,
promulgated by the Standing Committee of the NPC in June 2007 and amended in December 2012 (the “ Labor Contract Law”), employers
must execute written employment contracts with full-time employees. If an employer fails to enter into a written employment contract with
an employee within one year from the date on which the employment relationship is established, the employer must rectify the situation
by entering into a written employment contract with the employee and pay the employee twice the employee’s salary for the period
from the day following the lapse of one month from the date of establishment of the employment relationship to the day prior to the execution
of the written employment contract. All employers must compensate their employees with wages equal to at least the local minimum wage
standards. Violations of the PRC Labor Law and the Labor Contract Law may result in the imposition of fines and other administrative sanctions,
and serious violations may result in criminal liabilities.

Enterprises in China are required by PRC laws
and regulations to participate in certain employee benefit plans, including social insurance funds, namely a pension plan, a medical insurance
plan, an unemployment insurance plan, a work-related injury insurance plan and a maternity insurance plan, and a housing provident fund,
and contribute to the plans or funds based on local annual minimum salary standard or certain percentage of the local annual average compensations
to works (“ Social Insurance Payment Base”). We participate in employee benefit plans and have made contributions to such plans
required by current PRC laws and regulations. If enterprises are required to contribute to the plans or funds based on a higher Social
Insurance Payment Base under the new regulations or policies