JWEL Establishes New Subsidiary to Market Agricultural and Fishing Products in Live Streaming Video on Tencent Short Video and Other Platforms
Expanding Company's business from Web-Based E-Commerce to High Growth Social Media Influencer E-Commerce
SHANGHAI, May 2, 2023 /PRNewswire/ -- 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 that the Company has established a new wholly owned subsidiary, Shanghai Lianfu Information Technology Co., Ltd. ("Lianfu") that focuses on marketing agricultural and fishing products on Tencent Short Video and other social media platforms.
Lianfu will work with social media influencers at the source of freshly grown agricultural products, where they will live stream and show orange, pears and apples just being harvested on site and offer them for sale to the viewers. Lianfu will also have influencers at fishing boats coming back to harbor after catching fresh fish and sell them to the viewers. These products will be shipped immediately upon purchases, ensuring ultra-fresh foods to consumers.
Mr. Haiting Li, Chief Executive Officer of JWEL stated, "As we look to the future, we recognize that the web-based ecommerce industry is a mature one, where consumers often compete on price, leading to tight margins for businesses. However, influencer ecommerce is rapidly growing where sales are driven by spontaneous purchases and the consumer's connection with the influencers. In this type of market, price is not necessarily the main driving factor in a consumer's decision to make a purchase. This represents a significant opportunity for our company to improve our margins and reach a wider audience. While our ecommerce software, infrastructure, and fulfillment capabilities will continue to play a vital role in our new business, we are excited about the potential that influencer ecommerce holds for our future business."
Mr. Li continued, "Before I recently joined JWEL as its Chief Executive Officer, I helped to establish and grow Tencent's "New Tools for Farmers Program" which is also an influencer-based ecommerce product offering program. We look forward to updating our shareholders and investors on this exciting new business for JWEL with new development. I am confident that this new path forward will build value for our shareholders."
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/
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: IR@1juhao.com
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SOURCE Jowell Global Ltd.
