Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 156

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 156
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 special channels for health care and wellness offline, develop
online platforms such as red note and (iii) financial support from related parties.

Based on its current operating plan, management
believes that the above-mentioned measures, including cash and restricted cash on hand of approximately $2.2million, bank borrowing
and equity financing, will collectively provide sufficient liquidity for the Company to meet its future liquidity and capital requirements
for at least next twelve months from the date the Company’s consolidated financial statements are issued.

F-19

Note 4 - Accounts receivable, net

Accounts receivable consisted of the following:

                                                      December 31,                     December 31,                 
  Trade accounts receivable from third-parties        $                 2,482,858      $                 2,960,438  
  Trade accounts receivable from related parties                                -                           47,040  
  Subtotal                                                              2,482,858                        3,007,478  
  Less: allowance for credit losses                                     ( 438,864                        ( 559,382  
  Accounts receivable, net                            $                 2,043,994      $                 2,448,096  

The movement of the allowance for credit losses
was as follows:

                                             December 31,                     December 31,                
                                                                                                          
                                             2024                             2023                        
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────
  Balance as of the beginning of year        $                   559,382      $                   84,400  
  Additions charged to bad debt expense                          442,974                         507,798  
  Reversals when collected                                     ( 556,319                        ( 28,180  
  Translation adjustments                                        ( 7,173                         ( 4,636  
  Balance as of the end of year              $                   438,864      $                  559,382  

Note 5 - Inventories, net

Inventory consisted of the following:

                                               December 31,                       December 31,                 
  Goods in transit                             $                   2,406,357      $                 1,158,689  
  Finished goods                                                   7,087,294                        7,971,989  
  Less: allowance of obsolete inventories                        ( 1,152,055                        ( 932,276  
  Inventories, net                             $                   8,341,596      $                 8,198,402  

The movement of