Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 17

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4
Chunk 17
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 our three major product categories: cosmetic
products, health and nutritional supplements and household products. Other than the revenue from product sales, we also earn service fees
charged to third-party merchants for using our platform, which was immaterial.

For the fiscal year ended December 31, 2024, approximately
$36.3 million, or 27.3%, of our revenue were generated from the sales of cosmetic products, approximately $33.6 million, or 25.2%, of
our revenue were generated from the sales of health and nutritional supplements and $62.8 million, or 47.2%, of our revenue were generated
from the sales of household products.

For the fiscal year ended December 31, 2023, approximately
$55.1 million, or 34.4%, of our revenue were generated from the sales of cosmetic products, approximately $22.6 million, or 14.1%, of
our revenue were generated from the sales of health and nutritional supplements and $81.8 million, or 51.1%, of our revenue were generated
from the sales of household products.

For the fiscal year ended December 31, 2022, approximately
$99.3 million, or 47.3%, of our revenue were generated from the sales of cosmetic products, approximately $39.9 million or 19% of our
revenue were generated from the sales of health and nutritional supplements and $70.6 million or 33.6% of our revenue were generated from
the sales of household products.

Our Sales Channels

We currently utilize four sales formats: Online
Direct Sales, Authorized Retail Store Distribution, Third-party Merchants and Live Streaming Marketing.

Online Direct Sales. The Online
Direct Sales model is mainly selling the products under our own brands or third-party products on our online shopping mall directly. We
purchase these third-party products directly from manufacturers and suppliers and deliver them to our customers. This model generates
the highest profit-margin among all our sales models.

Authorized Retail Store Distribution.
Authorized Retail Store Distribution refers to our authorized physical retail stores that distributed products all over the country and
they purchase their products from us and distribute them to consumers. Those stores may also use a small program developed by us which
can be used on WeChat to promote products to their WeChat contacts who can place orders to purchase products either from those authorized
stores or from our platform which we provide sale discounts for such orders placed on our platform but directed from our authorized stores