Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 169

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 169
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 December 20, 2021, the Company signed a two-years
operating lease agreement with a third-party to lease170.40square meters for office space in Changchun City, Jilin Province. The lease
term is from December 23, 2021 to December 22, 2023. The Company renewed and extended this lease with a new maturity date on February
20, 2026. The rental payments related to this lease were $16,671and $16,848for the years ended December 31, 2024 and 2023, respectively.

In
March 2022, the Company signed a two-years operating lease agreement with a third-party to lease 210.23 3,571 16,395

In
April 2022, the Company signed a two-years operating lease agreement with a third-party to lease 268 10,170 21,784

Balance sheet information related to the operating
lease is as follows:

                                                          December 31,                     December 31,                 
  Operating lease assets:                                                                                               
  Operating lease right-of-use asset – related party      $                 2,314,043      $                   814,717  
  Operating lease right-of-use asset – third-party                             16,005                        1,204,583  
  Total operating lease assets                            $                 2,330,048      $                 2,019,300  
  Operating lease obligations:                                                                                          
  Operating lease liabilities – related party             $                 2,222,516      $                   814,717  
  Operating lease liabilities – third-party                                         -                        1,160,507  
  Total operating lease obligations                       $                 2,222,516      $                 1,975,224  
  Current operating lease liabilities                     $                   702,457                          942,989  
  Non-current operating lease liabilities                                   1,520,059                        1,032,235  
  Total operating lease obligations                       $                 2,222,516      $                 1,975,224  

The following table presents operating lease cost
reported in the consolidated statements of operations and comprehensive loss related to the Company’s leases:

                             December 31,      December 31,  
  Operating lease cost           $839,053        $1,316,073  
  Short-term lease cost         2,452,418         1,285,866  
  Total                        $3,291,471