Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 168

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 168
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2023 and 2022, respectively.

On January 1, 2020, the Company entered into a
one-year operating lease agreement with a subsidiary of Longrich Group to rent another office space with1,097square meters at Longrich
Industrial District. The Company renewed and extended this lease with a new maturity date on December 31, 2023. The rental payments related
to this lease were $71,399and $74,905for the years ended December 31, 2023 and 2022, respectively. The Company didn’t renew from January
1, 2024.

On January 1, 2020, the Company entered into a
one-year operating lease agreement with a subsidiary of Longrich Group to rent another office space with 404 square meters in Changshu
City, Jiangsu Province. On December 31, 2020, the Company renewed this lease agreement for another one-year term, respectively and the
leased space is increased to5,976square meters. The lease was renewed and extended to a new maturity date on December 31, 2025. The
rental payments related to this lease were $384,868, $388,964and $408,062for the years ended December 31, 2024, 2023 and 2022, respectively.

Leases from third parties

In March 2021, the Company signed a ten-year operating
lease agreement with an individual to lease an office space with738.70square meters in Hangzhou City, Zhejiang Province. The lease term
is from May 20, 2021 to May 19, 2031. The rental payments related to this lease were $74,536and $190,283for the years ended December
31, 2024 and 2023, respectively. On May 19, 2024, the lease agreement was terminated.

On
June 15, 2021, the Company signed a three-year operating lease agreement with a third-party to lease an office space with 395 19,133 43,793

On
May 28, 2021, the Company signed a two-years operating lease agreement with a third-party to lease 273.59 5,196 32,707

F-26

On
November 20, 2021, the Company signed a two-years operating lease agreement with a third-party to lease 230 6,691 42,118

On