Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 151

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 151
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avirus) which has spread quickly to many parts in China, the U. S. and globally. In March 2020, the World Health Organization
declared the COVID-19 a pandemic. With an aim to contain the COVID-19 outbreak, the Chinese government has imposed various strictive measures
across the country including, but not limited to, travel restrictions, mandatory quarantine requirements, and postponed resumption of
business operations until after the Chinese New Year holiday in 2020. Starting from March 2020, businesses in China began to reopen, and
the interruptions to businesses were gradually removed. However, due to the outbreak of Omicron variant in many cities in China, including
Xi’an, Hong Kong, Shanghai, Guangzhou and Suzhou, local governments imposed new restrictions and quarantine requirements with travel
restrictions and temporary closure of office buildings and facilities, and the employees at our Shanghai office worked from home from
March 30, 2022 to June 1, 2022. In early December 2022, Chinese government eased the strict control measure for COVID-19, which has led
to surge in increased infections and caused disruption in our business operations in December 2022 and January 2023.

As an online retailer and retail platform, the
Company’s operations in 2022 were not significantly negatively impacted by the pandemic. As the date of this report, the Chinese
government has loosened its policy and there is no control measures due to COVID-19. However, the situation remains highly uncertain for
any further outbreak or resurgence of the COVID-19 and new variants. It is therefore difficult for the Company to estimate the impact
on our business or operating results that might be adversely affected by any further outbreak or resurgence of COVID-19 and new variants.
We will continue to closely monitor the situation throughout 2025 and beyond.

Because of the uncertainty surrounding the COVID-19
outbreak, the business disruption and the financial impact related to the outbreak of and response to the coronavirus cannot be reasonably
estimated at this time.

Foreign currency translation

The Company’s financial information is presented
in U. S. dollars (“ USD”). The functional currency of the Company is the Chinese Yuan, Renminbi (“ RMB”), the currency
of the PRC. Any transactions which are denominated in currencies other than RMB are translated into RMB at the exchange rate quoted by
the People’s Bank of China prevailing at the dates of the transactions, and exchange gains and losses are included