Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 10

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4
Chunk 10
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ITEM 4. INFORMATION ON THE COMPANY

A. History and Development of the Company

Jowell Global Ltd. (“ Jowell Global”
or the “ Company”) is an exempted company incorporated in the Cayman Islands with limited liability on August 16, 2019 as a
holding company. The Company, through its consolidated variable interest entity (“ VIE”), engages primarily in the sale of
cosmetic products, nutritional supplements, and household products sourced from third-party manufacturers and distributors, and also offers
an online marketplace that enables third-party sellers to sell their products to the Company’s online consumers.

A reorganization of the Company’s legal
structure (“ Reorganization”) was completed on November 1, 2019. The Reorganization involved the incorporation of Jowell Global,
a Cayman Islands holding company, Jowell Technology Limited (“ Jowell Tech”), a Hong Kong holding company on June 24, 2019,
and Shanghai Jowell Technology Co., Ltd. (“ Shanghai Jowell”), a new wholly foreign-owned entity (“ WFOE”) by Jowell
Tech under the laws of the People’s Republic of China (“ China” or the “ PRC”) on October 15, 2019.

On October 31, 2019 and November 1, 2019, Shanghai
Jowell entered into a series of contractual arrangements with Shanghai Juhao Information Technology Co., Ltd. (“ Shanghai Juhao”)
and the shareholders of Shanghai Juhao, as amended on October 10, 2020. These agreements include: 1) an Exclusive Business Cooperation
and Management Agreement; 2) an Equity Interest Pledge Agreement; 3) an Exclusive Option Agreements 4) Powers of Attorney and 5) Spousal
Consent Letters. Pursuant to these agreements, Shanghai Jowell has the exclusive rights to provide consulting services to Shanghai Juhao
related to the business operation and management of Shanghai Juhao. For such services, Shanghai Juhao agrees to pay service fees determined
based on all of its net profit after tax payments to Shanghai Jowell or Shanghai Jowell has obligation to absorb all of Shanghai Juhao’s
losses. The agreements remain in effect until and unless all parties agree to its termination, except the Exclusive Option Agreement that
the effective term of 10 years and can be renewed for an additional 10 years. Until such termination, Shanghai Juhao may not enter into
another agreement for the provision of management consulting services without the