Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 167

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 167
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and $73,465for the years ended December
31, 2024 and 2023, respectively.

In August, 2021,
the Company signed a three-year operating lease agreement with a subsidiary of Longrich Group to rent an office space with 3,956 2,851t he Company extended
this lease with new maturity date on December 31, 2025. The rental payments related to this lease were $ 113,632 145,963

F-25

The Company also entered into following lease
agreements with its related parties controlled by a major shareholder of the Company, to lease warehouse and office spaces. The Company
intend to continue these leases for the next two years.

On January 1, 2020, the Company entered into a
one-year lease agreement with a subsidiary of Longrich Group to rent an office space of700square meters at Yangpu District, Shanghai,
respectively. The lease term is from January 1, 2020 to December 31, 2020. The Company renewed and extended this lease with new maturity
date on December 31, 2025. The rental payments related to these leases were $111,462, $93,874and $98,483for the years ended December
31, 2024, 2023 and 2022, respectively.

On January 1, 2020, the Company entered into a
one-year operating lease agreement with a subsidiary of Longrich Group to rent a warehouse space with500square meters at Jiangsu Diye
Industrial District. On December 31, 2020, the Company renewed this lease agreement for another one-year term and the leased space is
increased to6,440square meters. The lease was renewed and extended to maturity date on December 31, 2023. On December 31, 2023, the
Company renewed this lease agreement for another one-year term and the leased space is decreased to5,551square meters. The lease term
is from January 1, 2024 to December 31, 2024. On December 31, 2024, the Company renewed this lease agreement from January 1, 2025
to December 31, 2025 and the leased space is decreased to3,621square meters. The rental payments related to these leases were $226,552,
$255,893and $268,457for the years ended December 31, 2024,