Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 69

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4A
Chunk 69
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 The business has returned to normal in China since February 2023.

As an online retailer and retail platform, the
Company’s operations in 2024 were not significantly negatively impacted by the pandemic. However, the recovery from pandemic of
overall economy in China has been slow and 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.

Results of Operations

Certain tables within this section may not reflect
the exact amount or percentage due to rounding.

For the Years Ended December 31, 2024 and 2023

The following table summarized the results of
our operations for the years ended December 31, 2024 and 2023, respectively, and provides information regarding the dollar and percentage
fluctuations during such periods.

                                            For the Years Ended December 31,                                                                                 
                                            2024                                                                                                             
                                            $                                                                                                                
                                            Amount                                                                                                           
                                            (in thousands, except for percentages)                                                                           
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Revenue                                   $                                           132,982      100.0      160,009      100.0      (27,027       (16.9  
  Operating Expenses:                                                                                                                                        
  Cost of Revenues                                                                      131,719       99.1      156,738       98.0      (25,019       (16.0  
  Fulfilment                                                                              2,002        1.5        3,022        1.8       (1,020       (33.8  
  Marketing                                                                               4,635        3.5        7,771        4.9       (3,136       (40.4  
  General and Administrative                                                              2,716        2.0        3,369        2.1         (653       (19.4  
  Total Operating Expenses                                                              141,072      106.1      170,900      106.8      (29,828       (17.5  
  Loss from Operations                                                                   (8,090       (6.1      (10,891       (6.8        2,