
Thursday, July 29, 2021 10:17:37 AM
https://www.globenewswire.com/news-release/2021/07/29/2271235/0/en/Jowell-Global-Ltd-Announces-Acquisition-of-Certain-Equity-Interests-in-Suzhou-Industrial-Park-Hongrun-Rural-Small-Amount-Loan-Co-Ltd.html
Shanghai, China, July 29, 2021 (GLOBE NEWSWIRE) -- Jowell Global Ltd. (“JWEL” or the “Company”) (NASDAQ: JWEL), one of the leading cosmetics, health, nutritional supplements, and household products e-commerce platforms in China, today announced that its variable interest entity Shanghai Juhao Information Technology Co., Ltd. (“Shanghai Juhao”) has entered into a Capital Increase Agreement to acquire 18.96% equity interest in Suzhou Industrial Park Hongrun Rural Small Amount Loan Co., Ltd. (“Hongrun Small Loan”) for an aggregate consideration of RMB30 million (approximately $4.6 million) in cash. The investment by Shanghai Juhao will be ear-marked for the loans to the owners of Juhao Best Choice Stores for their business development and expansion. Juhao Best Choice Stores are the community group-buying franchise stores launched by Shanghai Juhao in April 2021.
Hongrun Small Loan is a joint stock limited company incorporated in the People’s Republic of China. Hongrun Small Loan principally engages in the business of providing loans to “agriculture, rural areas and farmers” and financing guarantee, as well as acting as agent for financial institutions.
“We believe there are significant opportunities to further grow our business, through organic growth or acquisitions”, said Mr. Zhiwei Xu, Chief Executive Officer and Chairman of Jowell Global Ltd. “The acquisition announced today is a clear indication of the Company’s continuous capabilities in executing long-term growth strategies and evidence of continued efforts in expanding Juhao Best Choice Stores across China. This investment will be dedicated to support the development and expansion of Juhao Best Choice Stores. We believe our partnership with Hongrun Small Loan will generate new growth points and value for the Company as well as create better products, services and quality satisfactory shopping experiences for consumers of Juhao Best Choices Stores."

Liked By
Spread the love. Be the first to like this post!
Recent JWEL News
- Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) • Edgar (US Regulatory) • 01/25/2023 09:16:44 PM
- Jowell Global Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency • GlobeNewswire Inc. • 12/30/2022 09:15:00 PM
- Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) • Edgar (US Regulatory) • 12/16/2022 09:16:31 PM
- Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) • Edgar (US Regulatory) • 11/25/2022 09:07:15 PM
- Jowell Global (NASDAQ: JWEL)’s 2022 Singles’ Day Shopping Festival a Success With 32.5% GMV Growth • GlobeNewswire Inc. • 11/17/2022 01:00:00 PM
- Jowell Global Ltd. (NASDAQ: JWEL) Expands Scope of its Logistics and Distribution Cooperation with ZTO Express Inc. (NYSE: ZTO) to Promote Business Development in International Markets • GlobeNewswire Inc. • 11/11/2022 01:00:00 PM
- Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) • Edgar (US Regulatory) • 11/07/2022 01:10:52 PM
- Jowell Global Ltd. Announces Third Quarter 2022 Unaudited Financial Results • GlobeNewswire Inc. • 11/07/2022 01:00:00 PM
- Jowell Global Ltd. Announces Cooperative Partnership with Leading European Pharmaceutical Company STADA to Promote Its Zoflora Disinfectants Portfolio in China • GlobeNewswire Inc. • 10/13/2022 12:00:00 PM
- Prospectus Filed Pursuant to Rule 424(b)(5) (424b5) • Edgar (US Regulatory) • 10/12/2022 12:36:24 PM
- Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) • Edgar (US Regulatory) • 10/12/2022 12:31:58 PM
- Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) • Edgar (US Regulatory) • 09/29/2022 08:17:36 PM
- Jowell Global Ltd. Announces First Half 2022 Unaudited Financial Results • GlobeNewswire Inc. • 09/29/2022 08:15:00 PM
- Jowell Global Announces Strategic Partnership with So.Di.Co Group • GlobeNewswire Inc. • 09/19/2022 12:00:00 PM
- Jowell Global Ltd. to Hold Annual General Meeting of Stockholders on September 29, 2022 • GlobeNewswire Inc. • 08/29/2022 12:33:43 PM
- Securities Registration (foreign Private Issuer) (f-3/a) • Edgar (US Regulatory) • 07/27/2022 08:33:48 PM
- Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) • Edgar (US Regulatory) • 06/27/2022 09:01:53 PM
- Correction - Jowell Global Ltd. Announces First Quarter 2022 Unaudited Financial Results • GlobeNewswire Inc. • 06/27/2022 09:00:00 PM
- Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) • Edgar (US Regulatory) • 05/25/2022 12:01:16 PM
- Jowell Global Ltd. Announces First Quarter 2022 Unaudited Financial Results • GlobeNewswire Inc. • 05/25/2022 12:00:00 PM
- Annual and Transition Report (foreign Private Issuer) (20-f) • Edgar (US Regulatory) • 04/25/2022 08:34:19 PM
- Jowell Global Ltd. Announces Full Year 2021 Financial Results • GlobeNewswire Inc. • 04/25/2022 08:30:00 PM
- Statement of Ownership (sc 13g) • Edgar (US Regulatory) • 02/14/2022 09:01:19 PM
XCPCNL Business Services Announces the Incorporation of ChatGPT Creator OpenAI to Enhance its Customer Service Experience Predictor Platform • XCPL • Jan 30, 2023 8:30 AM
1606 Corp Now Trading under Ticker CBDW, Management Announces First Acquisition • CBDW • Jan 27, 2023 11:59 AM
IQST - iQSTEL Reminds Shareholders To Get Their Votes In Before Annual Meeting Next Week On January 31, 2023 • IQST • Jan 26, 2023 9:53 AM
Nextech AR's AI-Powered CAD to Poly Toggle3D Launches Major Technology Advancements • ARWYF • Jan 26, 2023 8:46 AM
UCASU jump-starts its plan of NASDAQ or NYSE up-listing in 2023 • UCASU • Jan 26, 2023 7:21 AM
Kaya Holdings, Inc. (OTCQB: KAYS) Launches Fifth Dimension Therapeutics™ to seek to Provide Innovative Psychedelic-Based Treatments for Depression and Anxiety Related Conditions and Address the Growing Multi-Billion Dollar Global Psychedelics Market • KAYS • Jan 25, 2023 10:53 AM