Jowell Global Ltd. (JWEL) is up 3.47% in the after-hours trading session at the price of $5.97 after the company released its first-half 2021 unaudited financial results. JWEL is the leading cosmetics, health and nutritional supplements, and household products e-commerce platform in China.
JWEL Reported First Half 2021 Unaudited Financial Results
On 13th September 2021, JWEL published its unaudited financial results for the six months ended on 30th June 2021. Total revenues in this period were $68.1 million. It represents an increase of 152.6% from $27.0 million in the same period of the previous year. The increase resulted from high brand reach and high weighted average unit price for products sold.
JWEL reported an operating loss of $0.6 million for the six months ended on 30th June 2021. Operating income was $1.1 million in the corresponding period of 2020. The decrease in income from operations is due to the implementation of business expansion with an increase in marketing expenses and the cost of revenues. Net loss was $0.7 million during this period, compared with net income of $0.8 million for the same period of 2020. For the first half-year ended 30th June 2021 and 2020, the company had no potential ordinary shares outstanding that could potentially dilute EPS in the future.
CEO of JWEL, Mr. Zhiwei Xu, remarked that their solid topline growth in the first half of 2021 indicates their relentless efforts to execute and improve user experience. They continue to diversify and optimize their product offerings to deliver a satisfying and well-round customer experience. Their total VIP members increased 16.0% to 2.1 million by 30th June 2021. Meanwhile, their improved user engagement translated into high topline growth. They will develop new products and solutions to empower their community stores with a comprehensive distribution network.
Strategic Partnership with Suzhou Wujiang Hope Bio-Technology Co. Ltd
On 19th August 2021, JWEL announced the cooperative partnership with Hope Bio-Technology Co., Ltd. The company has signed a strategic agreement with its affiliate, Suzhou Wujiang Hope Bio-Technology. Under the agreement, both parties will focus on in-depth collaboration in cutting-edge cellular technology. They will also cooperate in the research and development of immune cell technologies for skincare products, cosmetics, and health supplements.
Mr. Zhiwei Xu remarked that this partnership aims to focus on research and the development of cell technologies. They will utilize biotech, immune-cell, and stem cell R&D teams to develop and launch a new generation of skincare products. The partnership with Hope Bio-Tech will help them expand into high-end cosmetic products market. They believe that bio cell technology in skincare and cosmetic products will provide their customers top quality product experience and effective results, he concluded.