Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 71

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4A
Chunk 71
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        0.2          545        0.4         (228      (41.8  
  Total                                       $                                    132,982      100.0      160,009      100.0      (27,027      (16.9  

Total revenue for the fiscal year ended December 31, 2024 decreased
by about $27.0 million, or 16.9%, to $133.0 million from $160.0 million for the fiscal year ended December 31, 2023.

Compared to the year ended December 31, 2023,
sales of cosmetic products decreased by about $18.7 million, or 34.0%, in the year ended December 31, 2024. The decrease in revenue of
cosmetic products is mainly due to significant decrease in weighted average unit price and units for products sold. Comparing to the year
ended December 31, 2023, we sold approximately 3.7 million, or 17.6%, less units in 2024 and our weighted average unit price for cosmetic
products sold also decreased. The decrease in both weighted average unit price and units sold in 2024 was mainly attributable to the sharp
decline in sales of premium brand products with higher average selling prices due to the slow economic recovery from COVID-19 in China
and weak consumer demand for high price premium branded products.

Compared to the year ended December 31, 2023,
sales of health and nutritional supplements products increased by about $11.0 million, or 48.5%. The increase in health and nutritional
supplements revenue is mainly due to the significant increase in units for products sold. Comparing to the year ended December 31, 2023,
our weighted average unit price for health and nutritional supplements products sold decreased, while we sold approximately 4.0 million,
or 105.1%, more units in 2024. The increase in units for products sold is mainly because we developed and sold a lot of affordable health
care products to replace the original high-price health care products in 2023.

Our household products revenue decreased by
about $19.0 million, or 23.3%, comparing 2024 to 2023. The decrease in household products revenue is mainly due to the decrease in
the weighted average unit price and units for products sold. Comparing to the year ended December 31, 2023, our weighted average
unit price