Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 12

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4
Chunk 12
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 September 5, 2024, Shanghai Jowell
incorporated Baotou Juhaoyuan Trading Co., Ltd. (“ Baotou Juhaoyuan”) in Baotou City, China, with a third-party individual
that owns 30%, Shanghai Jowell owns 55% and an officer of the Company owns 15% equity interest of Baotou Juhaoyuan.

On October 25, 2023, the shareholders of the Company
held an extraordinary general meeting (the “ Meeting”) and approved by an ordinary resolution of a share consolidation (the
“ Share Consolidation”) that (i) every sixteen (16) issued and unissued ordinary shares of the Company, par value $0.0001 each
(the “ Ordinary Shares”) be consolidated into one (1) ordinary share par value $0.0016 each and (ii) every sixteen (16) issued
and unissued preferred shares of the Company, par value $0.0001 each (the “ Preferred Shares”) be consolidated into one (1)
preferred share, par value $0.0016 each. Immediately following the Share Consolidation, the shareholders of the Company approved by an
ordinary resolution of share capital increase that the authorized share capital of the Company be increased to $800,000 divided into 500,000,000
shares of which (x) 450,000,000 shares are designated as ordinary shares with a nominal or par value of $0.0016 per share, and (y) 50,000,000
shares are designated as preferred shares with a nominal or par value of $0.0016 per share (the “ Share Capital Increase”).
At the Meeting, the shareholders of the Company also approved by a special resolution the third amended and restated memorandum and articles
of association of the Company to reflect the Share Consolidation and the Share Capital Increase.

We have adopted a dual-class share structure such
that our shares consist of Ordinary Shares and Preferred Shares. In respect of matters requiring the votes of shareholders, each Ordinary
Share is entitled to one (1) vote and each Preferred Share is entitled to two (2) votes. The Preferred Shares may be converted into Ordinary
Shares by its holder at any time at the option of the holder. We have authorized 50,000,000 Preferred Shares, par value $0.0016 and our
largest shareholder Mr. Zhiwei Xu, directly and indirectly through Jowell Holdings Ltd., beneficially owns