Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 75

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4A
Chunk 75
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MB 1.00 to US$0.1404. The equity accounts were stated at their historical rate. The balance sheet
amounts with the exception of equity as of December 31, 2023 were translated at RMB 1.00 to US$0.1412 as compared to the average translation
rates applied to the income statements accounts for 2023 at RMB 1.00 to US$0.1419. The change in the value of the RMB relative to the
U. S. dollar may affect our financial results reported in U. S dollar terms without giving effect to any underlying change in our business
or results of operation.

For the Years Ended December 31, 2023 and 2022

The following table summarized the results of
our operations for the years ended December 31, 2023 and 2022, respectively, and provides information regarding the dollar and percentage
fluctuations during such periods.

                                            For the Year Ended December 31,                                                                                  
                                            2023                                                                                                             
                                            $                                                                                                                
                                            Amount                                                                                                           
                                            (in thousands, except for percentages)                                                                           
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Revenue                                   $                                           160,009      100.0      209,981      100.0      (49,972       (23.8  
  Operating Expenses:                                                                                                                                        
  Cost of Revenues                                                                      156,738       98.0      203,738       97.0      (47,000       (23.1  
  Fulfilment                                                                              3,022        1.8        3,700        1.8         (678       (18.3  
  Marketing                                                                               7,771        4.9        8,795        4.2       (1,024       (11.6  
  General and Administrative                                                              3,369        2.1        5,789        2.8       (2,420       (41.8  
  Total Operating Expenses                                                              170,900      106.8      222,022      105.8      (51,122       (23.0  
  Loss from Operations                                                                  (10,891       (6.8      (12,041       (5.7        1,150        (9.6  
  Other Income (loss