Jowell Global (NASDAQ: JWEL)’s 2022 Singles’ Day Shopping Festival a Success With 32.5% GMV Growth

SHANGHAI, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Jowell Global Ltd. (“Jowell Global” or the “Company”) (NASDAQ: JWEL), one of the leading cosmetics, health and nutritional supplements, and household products e-commerce platforms in China, today announced strong results from its 12-day 2022 Singles’ Day Shopping Festival. Over $24.5 million was generated in gross merchandise volume (GMV) during the festival, which represents an extraordinary 32.5% growth from last year.

Mr. Zhiwei Xu, Chief Executive Officer and Chairman of Jowell Global Ltd, commented: “Despite the continued macro headwinds and the adverse pandemic impact, we delivered another strong sales for this year’s Singles’ Day shopping festival, thanks to all of our employees, vendors, and the selling merchants and partners within our platform. We are grateful for their consistent dedication and continued commitment in enhancing customer experiences, which not only boosted our business achievement, but also provided significant values to our customers. These stellar results showcased that we are executing the right path for marketing and promotion, customer engagement and efficient logistics support. As one of the leading new retail enterprises in beauty, health, and consumer products, we will continue to embrace quality products and partnerships with domestic and international brands to strengthen our capabilities in capturing long-term growths and satisfying Chinese customers’ needs.”

About Jowell Global Ltd.

Jowell Global Ltd. (the “Company”) is one of the leading cosmetics, health and nutritional supplements and household products e-commerce platforms in China. We offer our own brand products to customers and also sell and distribute health and nutritional supplements, cosmetic products and certain household products from other companies on our platform. In addition, we allow third parties to open their own stores on our platform for a service fee based upon sale revenues generated from their online stores and we provide them with our unique and valuable information about market needs, enabling them to better manage their sales effort, as well as an effective platform to promote their brands. The Company also sells its products through authorized retail stores all across China, which operate under the brand names of “Love Home Store” or “LHH Store” and “Juhao Best Choice Store”. For more information, please visit http://ir.1juhao.com/

Note: GMV for the Singles Day Shopping Festival is the total value of orders settled through our platform from November 1, 2022 to November 12, 2022. It is reported on a real-time basis and includes shipping charges paid (where applicable). GMV disclosed in this press release is denominated in RMB; year-over-year comparisons and growth rates are calculated on the basis of RMB amounts and are not affected by foreign exchange rate fluctuations. All translations of RMB into US$ are made at RMB1=US$0.1387, the average exchange rates from November 1, 2022 to November 12, 2022 announced by the People’s Bank of China. All GMV and other figures presented in this press release are unaudited and subject to adjustments.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; financial condition and results of operations; product and service demand and acceptance; reputation and brand; the impact of competition and pricing; changes in technology; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward‐looking statements to reflect events or circumstances that arise after the date hereof.

For investor and media inquiries, please contact:

In China:
Jowell Global Ltd.
Ms. Jessie Zhao
Email: [email protected]

Seaquant Consulting
Mr. Roye Zhang
Email: [email protected]