Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 157

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 157
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 the allowance for doubtful accounts
was as follows:

                                           December 31,                     December 31,                 
                                                                                                         
                                           2024                             2023                         
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────
  Balance as of the beginning of year      $                   932,276      $                 1,405,588  
  Additions                                                    235,674                        ( 438,949  
  Translation adjustments                                     ( 15,895                         ( 34,363  
  Balance as of the end of year            $                 1,152,055      $                   932,276  

Note 6 - Advance to suppliers, net

The Company makes periodic advances to its suppliers
for product purchases in the normal course of business. Advances to suppliers consisted of the following:

                                                             December 31,                     December 31,                  
  Advances for products purchasing from third-parties        $                   826,317      $                  4,076,231  
  Advances for products purchasing from related parties                        2,768,600                         9,874,545  
  Subtotal                                                                     3,594,917                        13,950,776  
  Less: allowance for credit losses                                            ( 341,035                         ( 569,799  
  Advance to suppliers, net                                  $                 3,253,882      $                 13,380,977  

F-20

The following table presents movement in the allowance
for credit losses:

                                           December 31,                     December 31,                 
                                                                                                         
                                           2024                             2023                         
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────
  Balance as of the beginning of year      $                   569,799      $                   902,189  
  Reversals when collected                                   ( 222,449                        ( 310,480  
  Translation adjustments                                      ( 6,315                         ( 21,910  
  Balance as of the end of year            $                   341,035      $                   569,799  

Note 7 - Property and equipment, net

Property and equipment, net, consisted of the
following:

                                      December 31,                     December 31,                 
  Electronic equipment                $                   365,871      $                   356,691  
  Vehicles                                                110,791                          146,033  
  Leasehold improvement                                   528,718                          184,376  
  Office furniture                                          211