2022 Q4 Form 20-F Financial Statement

#000121390023039801 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q2 2022 Q1
Revenue $3.607M $100.4M
YoY Change -96.49% 47.49%
Cost Of Revenue $107.2M $96.50M
YoY Change 11.65% 52.66%
Gross Profit $2.335M $3.908M
YoY Change -65.6% -19.65%
Gross Profit Margin 64.74% 3.89%
Selling, General & Admin $5.859M $12.43M
YoY Change -55.42% 125.76%
% of Gross Profit 250.88% 317.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $168.2K $195.4K
YoY Change 26.74% 270.53%
% of Gross Profit 7.2% 5.0%
Operating Expenses $5.859M $12.43M
YoY Change -55.42% 125.76%
Operating Profit -$3.524M -$8.517M
YoY Change -44.53% 1230.17%
Interest Expense -$258.7K $112.4K
YoY Change -223.46%
% of Operating Profit
Other Income/Expense, Net $176.3K $58.78K
YoY Change -27.05% -253.75%
Pretax Income -$3.606M -$8.346M
YoY Change -38.89% 1129.99%
Income Tax -$109.1K -$311.0K
% Of Pretax Income
Net Earnings -$3.501M -$8.035M
YoY Change -38.49% 1052.81%
Net Earnings / Revenue -97.07% -8.0%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.11 -$304.3K
COMMON SHARES
Basic Shares Outstanding 34.12M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.72M $7.295M
YoY Change -24.83% -72.75%
Cash & Equivalents $16.72M
Short-Term Investments
Other Short-Term Assets $26.41M $20.45M
YoY Change 156.57% 49.91%
Inventory $13.28M $13.05M
Prepaid Expenses
Receivables $6.209M $4.993M
Other Receivables $0.00 $0.00
Total Short-Term Assets $59.90M $45.78M
YoY Change 29.36% -24.98%
LONG-TERM ASSETS
Property, Plant & Equipment $1.020M $5.531M
YoY Change -82.45% 1.78%
Goodwill
YoY Change
Intangibles $855.1K
YoY Change
Long-Term Investments $4.455M $4.784M
YoY Change -8.37%
Other Assets $919.7K $828.2K
YoY Change -32.57% 9333.26%
Total Long-Term Assets $11.30M $12.13M
YoY Change -9.02% 121.76%
TOTAL ASSETS
Total Short-Term Assets $59.90M $45.78M
Total Long-Term Assets $11.30M $12.13M
Total Assets $71.20M $57.91M
YoY Change 21.24% -12.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.138M $7.366M
YoY Change 10.14% -23.16%
Accrued Expenses $2.284M $2.824M
YoY Change -14.08% 35.31%
Deferred Revenue $18.40M
YoY Change
Short-Term Debt $2.464M $2.538M 17.00M cnies
YoY Change -7.78% -3.95%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $31.64M $17.35M
YoY Change 110.2% -4.95%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.099M $3.083M
YoY Change -47.43% -24.63%
Total Long-Term Liabilities $2.099M $3.083M
YoY Change -47.43% -24.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.64M $17.35M
Total Long-Term Liabilities $2.099M $3.083M
Total Liabilities $33.74M $20.43M
YoY Change 77.15% -8.55%
SHAREHOLDERS EQUITY
Retained Earnings -$14.57M
YoY Change 379.98%
Common Stock $2.577M $5.230M
YoY Change 100234.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $37.43M $37.49M
YoY Change
Total Liabilities & Shareholders Equity $71.20M $57.91M
YoY Change 21.24% -12.91%

Cashflow Statement

Concept 2022 Q4 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$3.501M -$8.035M
YoY Change -38.49% 1052.81%
Depreciation, Depletion And Amortization $168.2K $195.4K
YoY Change 26.74% 270.53%
Cash From Operating Activities $4.194M -$16.19M
YoY Change -338.54% -0.55%
INVESTING ACTIVITIES
Capital Expenditures $651.6K -$686.6K
YoY Change -185.51% 151.21%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$651.6K -$686.6K
YoY Change -89.73% 134.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.614M 6.324M
YoY Change -646.97% -77.31%
NET CHANGE
Cash From Operating Activities 4.194M -16.19M
Cash From Investing Activities -651.6K -686.6K
Cash From Financing Activities 3.614M 6.324M
Net Change In Cash 7.157M -10.55M
YoY Change -181.67% -193.32%
FREE CASH FLOW
Cash From Operating Activities $4.194M -$16.19M
Capital Expenditures $651.6K -$686.6K
Free Cash Flow $3.542M -$15.50M
YoY Change -455.62% -3.14%

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CY2021 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
671219 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
39683451 usd
CY2022 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2022 us-gaap Share Based Compensation
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1847926 usd
CY2022 jwel Capital Contribution
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CY2022 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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37465907 usd
CY2022 us-gaap Profit Loss
ProfitLoss
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CY2021 us-gaap Profit Loss
ProfitLoss
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CY2020 us-gaap Profit Loss
ProfitLoss
3586692 usd
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
363648 usd
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
185484 usd
CY2020 us-gaap Depreciation And Amortization
DepreciationAndAmortization
25926 usd
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
143849 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
579938 usd
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
451127 usd
CY2022 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-1557714 usd
CY2021 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-880551 usd
CY2020 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-156543 usd
CY2022 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
1102119 usd
CY2021 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
329639 usd
CY2020 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
24172 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-420514 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-263249 usd
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-6044 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
1847926 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
971200 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1661261 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4688990 usd
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
289767 usd
CY2022 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
-161460 usd
CY2021 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
-217500 usd
CY2020 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
646285 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3074027 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4983104 usd
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4518720 usd
CY2022 us-gaap Increase Decrease In Prepaid Supplies
IncreaseDecreaseInPrepaidSupplies
17985535 usd
CY2021 us-gaap Increase Decrease In Prepaid Supplies
IncreaseDecreaseInPrepaidSupplies
3335276 usd
CY2020 us-gaap Increase Decrease In Prepaid Supplies
IncreaseDecreaseInPrepaidSupplies
1861778 usd
CY2021 jwel Increase Decrease Advance To Suppliers Related Parties
IncreaseDecreaseAdvanceToSuppliersRelatedParties
-590738 usd
CY2020 jwel Increase Decrease Advance To Suppliers Related Parties
IncreaseDecreaseAdvanceToSuppliersRelatedParties
-7583425 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-263847 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1375344 usd
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-218550 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1715092 usd
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-776146 usd
CY2020 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2445100 usd
CY2022 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-101225 usd
CY2021 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
2234057 usd
CY2021 jwel Increase Decrease In Trade Notes Payable
IncreaseDecreaseInTradeNotesPayable
-588215 usd
CY2020 jwel Increase Decrease In Trade Notes Payable
IncreaseDecreaseInTradeNotesPayable
550221 usd
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
16928087 usd
CY2021 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
401233 usd
CY2020 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-396109 usd
CY2022 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1696455 usd
CY2021 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-868766 usd
CY2020 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-143339 usd
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
64380 usd
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-982105 usd
CY2020 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
830726 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-135591 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
98632 usd
CY2020 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-669939 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-11992975 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-18033959 usd
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6889374 usd
CY2021 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
4650150 usd
CY2021 jwel Advance For Purchase Of Fixed Assets
AdvanceForPurchaseOfFixedAssets
951874 usd
CY2020 jwel Advance For Purchase Of Fixed Assets
AdvanceForPurchaseOfFixedAssets
115414 usd
CY2022 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
677702 usd
CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
426370 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
660488 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
609014 usd
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1332 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1338190 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6637408 usd
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-116746 usd
CY2020 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
10000000 usd
CY2020 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
379961 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
9883240 usd
CY2021 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
25685364 usd
CY2022 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
2530929 usd
CY2021 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
2635085 usd
CY2022 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
2530929 usd
CY2022 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
55529 usd
CY2020 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
1174546 usd
CY2021 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-1108311 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9938769 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
27212138 usd
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
10794585 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1139229 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
464900 usd
CY2020 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
665331 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4531625 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3005672 usd
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
18232544 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21249727 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18244055 usd
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11511 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16718102 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21249727 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18244055 usd
CY2022Q4 us-gaap Cash
Cash
13718102 usd
CY2021Q4 us-gaap Cash
Cash
18249737 usd
CY2020Q4 us-gaap Cash
Cash
18244055 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
3000000 usd
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
2999990 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
16718102 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
21249727 usd
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
18244055 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
988445 usd
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
839325 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
117070 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
92257 usd
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
123384 usd
CY2022 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
88198 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
34090 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2370655 usd
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3480231 usd
CY2022 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Cash Flows
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsCashFlows
11631 usd
CY2021 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Cash Flows
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsCashFlows
102356 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Use of estimates</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In preparing the consolidated financial statements in conformity with U.S. GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting years. Significant items subject to such estimates and assumptions include, but not limited to, allowance for doubtful accounts and advance to suppliers, valuation of inventories, and impairment of long-lived assets. Actual results could differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022Q4 jwel Restricted Cash And Cash Equivalent
RestrictedCashAndCashEquivalent
3000000 usd
CY2021Q4 jwel Restricted Cash And Cash Equivalent
RestrictedCashAndCashEquivalent
2999990 usd
CY2022Q4 us-gaap Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
84400 usd
CY2021Q4 us-gaap Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
103805 usd
CY2022 us-gaap Cost Of Revenue
CostOfRevenue
1102119 usd
CY2021 us-gaap Cost Of Revenue
CostOfRevenue
329639 usd
CY2020 us-gaap Cost Of Revenue
CostOfRevenue
24172 usd
CY2022 jwel Service Fees
ServiceFees
123208 usd
CY2021 jwel Service Fees
ServiceFees
23782 usd
CY2020 jwel Service Fees
ServiceFees
72664 usd
CY2022Q4 jwel Deferredrevenue
Deferredrevenue
18469332 usd
CY2021Q4 jwel Deferredrevenue
Deferredrevenue
2154042 usd
CY2022 jwel Cost Of Revenue Policy Textblock
CostOfRevenuePolicyTextblock
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration:underline">Cost of revenue</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of revenue consists primarily of purchase price of products, inbound shipping charges and write-downs of inventory. Shipping charges to receive products from the suppliers are included in the inventories and recognized as cost of revenues upon sale of the products to the customers.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022 jwel Fulfillment Expenses Policy Textblock
FulfillmentExpensesPolicyTextblock
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration:underline">Fulfillment expenses</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fulfillment expenses consist primarily of expenses charged by third-party couriers for dispatching and delivering the Company’s products and rental expenses of leased warehouses. Shipping cost included in fulfillment costs amounted to $2,074,452, $2,404,268 and $2,201,457 for the years ended December 31, 2022, 2021 and 2020, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022 jwel Shipping Cost
ShippingCost
2074452 usd
CY2021 jwel Shipping Cost
ShippingCost
2404268 usd
CY2020 jwel Shipping Cost
ShippingCost
2201457 usd
CY2022 us-gaap Marketing Expense
MarketingExpense
2142803 usd
CY2021 us-gaap Marketing Expense
MarketingExpense
3285558 usd
CY2020 us-gaap Marketing Expense
MarketingExpense
131419 usd
CY2022 us-gaap Loans Receivable Held For Sale Reconciliation To Cash Flow Additions To Held For Sale
LoansReceivableHeldForSaleReconciliationToCashFlowAdditionsToHeldForSale
13500000 usd
CY2022 jwel Accounts Receivables Percentage
AccountsReceivablesPercentage
0.66 pure
CY2022 jwel Advances To Supplier
AdvancesToSupplier
18500000 usd
CY2022 jwel Advances To Supplier Percentage
AdvancesToSupplierPercentage
0.82 pure
CY2022Q4 us-gaap Other Cash Equivalents At Carrying Value
OtherCashEquivalentsAtCarryingValue
16700000 usd
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration:underline">Concentrations</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended December 31, 2022, one customer accounted for approximately 15.9% of the Company’s total sales. For the year ended December 31, 2021, one customer accounted for approximately 15.8% of the Company’s total sales. For the year ended December 31, 2020, two customers accounted for approximately 18.6% and 10.6% of the Company’s total sales.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended December 31, 2022, two major suppliers, accounted for approximately 14% and 12% of the total purchases. For the year ended December 31, 2021, two major suppliers, accounted for approximately 45% and 24% of the total purchases. For the year ended December 31, 2020, one major supplier, a related party, accounted for approximately 87% of the total purchases. See Note 13 to the consolidated financial statements for additional information on related parities transactions.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2021 jwel Number Of Supplier
NumberOfSupplier
2 pure
CY2020 jwel Number Of Supplier
NumberOfSupplier
1 pure
CY2022Q4 us-gaap Bank Acceptances Executed
BankAcceptancesExecuted
500000 cny
CY2022 jwel Foreign Currency Translation Exchange Rate Per Share
ForeignCurrencyTranslationExchangeRatePerShare
0.145
CY2021 jwel Foreign Currency Translation Exchange Rate Per Share
ForeignCurrencyTranslationExchangeRatePerShare
0.1572
CY2022 jwel Foreign Currency Translation Average Exchange Rate Per Share
ForeignCurrencyTranslationAverageExchangeRatePerShare
0.1489
CY2021 jwel Foreign Currency Translation Average Exchange Rate Per Share
ForeignCurrencyTranslationAverageExchangeRatePerShare
0.155
CY2020 jwel Foreign Currency Translation Average Exchange Rate Per Share
ForeignCurrencyTranslationAverageExchangeRatePerShare
0.145
CY2022 jwel Net Loss
NetLoss
11500000 usd
CY2022 us-gaap Interest Income Operating
InterestIncomeOperating
12000000 usd
CY2022Q4 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
14600000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
16700000 usd
CY2022 jwel Workings Capital
WorkingsCapital
28300000 usd
CY2022Q4 jwel Trade Accounts Receivable From Third Parties
TradeAccountsReceivableFromThirdParties
6293006 usd
CY2021Q4 jwel Trade Accounts Receivable From Third Parties
TradeAccountsReceivableFromThirdParties
5070031 usd
CY2022Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
285530 usd
CY2021Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
480111 usd
CY2022Q4 jwel Subtotal
Subtotal
6578536 usd
CY2021Q4 jwel Subtotal
Subtotal
5550142 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
84400 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
103805 usd
CY2022Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
6494136 usd
CY2021Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
5446337 usd
CY2022 jwel Accounts Receivable Percentage
AccountsReceivablePercentage
0.66 pure
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
103805 usd
CY2021 jwel Additions Charged To Bad Debt Expense
AdditionsChargedToBadDebtExpense
102356 usd
CY2022 jwel Recognized Credit Losses
RecognizedCreditLosses
-11631 usd
CY2022Q4 us-gaap Translation Adjustment Functional To Reporting Currency Net Of Tax
TranslationAdjustmentFunctionalToReportingCurrencyNetOfTax
-7774 usd
CY2021Q4 us-gaap Translation Adjustment Functional To Reporting Currency Net Of Tax
TranslationAdjustmentFunctionalToReportingCurrencyNetOfTax
1449 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
84400 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
103805 usd
CY2022Q4 us-gaap Other Inventory In Transit
OtherInventoryInTransit
357484 usd
CY2021Q4 us-gaap Other Inventory In Transit
OtherInventoryInTransit
601689 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
12920721 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
11715077 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
13278205 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
12316766 usd
CY2022Q4 jwel Advances On Inventory Purchases Gross
AdvancesOnInventoryPurchasesGross
22644684 usd
CY2021Q4 jwel Advances On Inventory Purchases Gross
AdvancesOnInventoryPurchasesGross
5565247 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
902189 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
353705 usd
CY2022Q4 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
21742495 usd
CY2021Q4 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
5211542 usd
CY2022 us-gaap Payments To Suppliers
PaymentsToSuppliers
82 usd
CY2022Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
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CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2021Q4 us-gaap Property Plant And Equipment Net
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CY2021 us-gaap Depreciation
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CY2020 us-gaap Depreciation
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CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2021Q4 us-gaap Finite Lived Intangible Assets Net
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CY2021 us-gaap Amortization Of Intangible Assets
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CY2020 us-gaap Amortization Of Intangible Assets
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CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
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CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
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CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
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CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
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CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
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CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2021Q3 jwel Long Term Investment Agreement
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CY2021Q3 jwel Long Term Investment Agreement
LongTermInvestmentAgreement
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CY2021Q3 jwel Voting Rights
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CY2022 jwel Interest Income Long Term Investment
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2460000 usd
CY2022Q1 jwel Interest Percentage
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CY2022Q1 us-gaap Deposits
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CY2022Q4 us-gaap Security Deposit Liability
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CY2021Q4 us-gaap Security Deposit Liability
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CY2020Q4 us-gaap Stockholders Equity Reverse Stock Split
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On November 6, 2020, the Company effected a reverse stock split of its Ordinary Shares at a ratio of 1-for-3 pursuant to which all existing shareholders of record on that date surrendered an aggregate of 42,298,849 Ordinary Shares, or 66.67% of the then outstanding Ordinary Shares to the Company for no consideration.
CY2022Q2 us-gaap Common Stock Value
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5230000 usd
CY2022Q2 jwel Ordinary Share Par Value
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CY2022Q2 us-gaap Underwriting Income Loss
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CY2021Q1 jwel Over Allotments Option Warrant
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CY2021Q1 us-gaap Warrant Exercise Price Increase
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CY2021Q2 us-gaap Equity Fair Value Adjustment
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CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2021Q4 us-gaap Share Price
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The RSUs granted to the then Chief Financial Officer had a graded vesting schedule with 25% or 20,000 RSUs vested on November 26, 2021, 25% or 20,000 RSUs vested on March 31, 2022, 25% or 20,000 RSUs vested on June 30, 2022, and the remaining 25% or 20,000 RSUs vested on September 30, 2022. The Company follows ASC 718-10-35-8 Stock compensation – awards with graded vesting features to recognize compensation cost on a straight-line basis. The RSUs granted to the then Chief Financial Officer resulted in $201,200 compensation cost for the year ended December 31, 2021 and $603,600 compensation cost for the year ended December 31, 2022, which were charged to general and administrative expenses.
CY2022Q2 us-gaap Stock Dividends Shares
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2.07 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
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120000 shares
CY2022Q2 jwel Rs Us Granted Description
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The RSUs granted to the then Chief Executive Officer and Vice President have a graded vesting schedule with 25% or 39,750 RSUs vested on June 30, 2022, 25% or 39,750 RSUs vested on October 1, 2022, 25% or 39,750 RSUs vested on January 1, 2023, and the remaining 25% or 39,750 RSUs vested on April 1, 2023. The Company follows ASC 718-10-35-8 Stock compensation – awards with graded vesting features to recognize compensation cost on a straight-line basis.
CY2023Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
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CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
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661692 usd
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273525 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
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10500000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
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CY2022Q4 us-gaap Deferred Tax Assets Net
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2554639 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
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28430 usd
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CY2022 us-gaap Number Of Operating Segments
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CY2021Q4 us-gaap Minority Interest
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CY2021 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
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