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<SEC-DOCUMENT>0001127855-04-000553.txt : 20040916
<SEC-HEADER>0001127855-04-000553.hdr.sgml : 20040916
<ACCEPTANCE-DATETIME>20040916161550
ACCESSION NUMBER:		0001127855-04-000553
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20040831
FILED AS OF DATE:		20040916
DATE AS OF CHANGE:		20040916

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SINOVAC BIOTECH LTD
		CENTRAL INDEX KEY:			0001084201
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			B9
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29031
		FILM NUMBER:		041033931

	BUSINESS ADDRESS:	
		STREET 1:		39 SHANGDI XI ROAD
		STREET 2:		HAIDIAN DISTRICT
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100085
		BUSINESS PHONE:		86-10-82890088

	MAIL ADDRESS:	
		STREET 1:		39 SHANGDI XI ROAD
		STREET 2:		HAIDIAN DISTRICT
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100085

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NET FORCE SYSTEMS INC
		DATE OF NAME CHANGE:	19991110
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>sinovac6k083104.txt
<DESCRIPTION>SINOVAC BIOTECH LTD. 6K, 08.31.04
<TEXT>






                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 6-K
                                    --------

                  REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
         RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August, 2004

Commission File Number: 0-29031

                              SINOVAC BIOTECH LTD.
                              --------------------
                       (Name of Registrant in its charter)

                               ANTIGUA and BARBUDA
                               -------------------
         (State or other jurisdiction of incorporation or organization)

                               39 Shangdi Xi Road
                            Haidian District, Beijing
                                  China 100085
                            -------------------------
              (Address of principal executive offices and zip code)

                               Tel: 86-10-82890088
                               Fax: 86-10-62966910
                               -------------------
                      (Issuer's telephone and fax numbers)

Indicate by check mark whether the registrant  files or will file annual reports
under cover Form 20-F or Form 40-F

                Form 20-F  X     Form 40-F
                         -----            -----

Indicate by check mark whether the  registrant  by  furnishing  the  information
contained  in this  Form is  also  thereby  furnishing  the  information  to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                Yes              No  X
                   -----           -----

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):  82-
                                    ------



<PAGE>






INDEX
- -----

Item
- ----

1.   Press Release dated August 9, 2004 - Exhibit 99.1
2.   Press Release dated August 11, 2004 - Exhibit 99.2
3.   Press Release dated August 13, 2004 - Exhibit 99.3
4.   Press Release dated August 30, 2004 - Exhibit 99.4

Item 1. Press Release dated August 9, 2004 - Exhibit 99.1
- ---------------------------------------------------------

Item 2. Press Release dated August 11, 2004 - Exhibit 99.2
- ----------------------------------------------------------

Item 3. Press Release dated August 13, 2004 - Exhibit 99.3
- ----------------------------------------------------------

Item 4. Press Release dated August 30, 2004 - Exhibit 99.4
- ----------------------------------------------------------




                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.


                                                    SINOVAC BIOTECH LTD.

Date:  September 15, 2004                           By:  /s/ Weidong Yin
                                                        ------------------------
                                                         Weidong Yin, CEO and a
                                                         Director



<PAGE>








                                  EXHIBIT INDEX


Number     Exhibit                                    Sequential Page Number
- ------     -------                                    ----------------------
 99.1      Press Release dated August 9, 2004                    4
 99.2      Press Release dated August 11, 2004                   7
 99.3      Press Release dated August 13, 2004                   9
 99.4      Press Release dated August 30, 2004                  11



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>sinovacexh99_1.txt
<DESCRIPTION>SINOVAC BIOTECH 6K, PRESS RELEASE 8.9.04
<TEXT>






EXHIBIT 99.1
- ------------


                              SINOVAC BIOTECH LTD.
                              --------------------
            UPDATES ON PHASE I HUMAN CLINICAL TESTING OF SARS VACCINE
            ---------------------------------------------------------

ALL 36 SUBJECTS HAVE NOW BEEN INOCULATED WITH EITHER SARS VACCINE OR PLACEBO AND
ARE IN GOOD HEALTH CONDITION

BEIJING, 9 August, 2004 - Sinovac Biotech Ltd. ("Sinovac") (NASD OTC-BB:  SNVBF)
announces  that all 36  subjects  of the  Phase I human  clinical  trial for its
inactivated  SARS vaccine have now been  vaccinated  with either SARS vaccine or
placebo.  The  final 12  subjects  in the  second  group of 18  volunteers  have
received  the  vaccination,  6 subjects  on July 28 and 6 subjects  on August 4,
2004. No adverse side-effects have been observed. As previously  announced,  the
first 6 of this second group of 18  volunteers  in the SARS  vaccine  trial were
injected on July 15, 2004. These subjects  together comprise the second group of
18  volunteers,  which has been injected with either the  high-dosage  (32 su/mL
antigen) SARS vaccine or a placebo.

According to Professor Lin Jiangtao,  head of the Respiratory Medical Department
with the China-Japan  Friendship Hospital in Beijing,  who chairs the trial, the
first  group of 18 people who have been  inoculated  with  low-dosage  (16 su/mL
antigen) SARS vaccine and the second group of 18 who have been  inoculated  with
high-dosage (32 su/mL antigen) vaccine have not experienced any adverse reaction
and are all in good health condition.

The two-dose  immunization  schedule has been completed for the initial group of
18 volunteers who received low-dosage SARS vaccine or placebo.  The second group
of 18 volunteers receiving high-dosage of SARS vaccine have received their first
inoculation.  Each  sub-group of 6 volunteers is scheduled to receive the second
inoculation 28 days after the first inoculation dates noted above.

The first phase of human  testing will  determine if the vaccine is safe for the
human body. During the Phase I clinical trial,  Sinovac will provide  continuous
updates on the status of the trial and the health  condition of the  volunteers.
The ultimate aim of the vaccine will be to provoke the body's immune system into
action, so that it can destroy the SARS virus if infected.

Also, and of particular  note,  antibody  levels induced by the vaccine are also
being  tested for the duration of the Phase I clinical  trial.  This testing has
not  previously  been  announced.  The  ability of these  antibodies  to prevent
infection from SARS will not be tested in this trial.

Sinovac  is the only  company  in China,  and  indeed  the  world,  to have been
approved to conduct human clinical trials of a SARS vaccine.

In 2003, SARS had a devastating  impact on the economy of China,  many Southeast
Asian nations,  and even parts of North America. A new, widespread SARS outbreak
could have a similar  effect on the economies of many  nations,  just when these
economies are building strength. The importance and need to develop an effective
SARS vaccine is thus a paramount concern for world health authorities.  The SARS
global outbreak of 2003 was eventually  contained;  however, it is expected that
the disease could re-emerge in an annual cycle similar to the common flu.

Clinical Trial Design
- ---------------------

There  are 36  healthy  volunteers  aged from 21 to 40 that  were  selected  for
clinical testing,  who were divided into four groups.  Twenty-four subjects (two
groups of 12 depending  on dosage  level) have  received  the  vaccine,  and the
twelve others (two groups of 6) have received the placebo. Each subject receives
two shots.  The first shot was on day 0 followed  by 28-day  observation  of the
subject.  The  second  shot is given  after the  initial  28 day period and each
subject will be observed until day 210, the phase I trial end-date.

The volunteers are observed for reaction every day for the first three days, and
then less frequently  throughout the whole 210-day observation process.  Neither
the  volunteers  nor the  administering  doctors  were  informed  of whether the
injection was a vaccine or a placebo.




<PAGE>






Regulatory Approval Process
- ---------------------------

The drug approval process regulated by the State Drug  Administration  (SFDA) in
China is  similar to the one  regulated  by the FDA in the  United  States.  The
process  involves  pre-clinical in vitro  laboratory and in vivo animal testing;
IND study  (Investigational  New Drug); human clinical Phases I, II and III; New
Drug Application; and finally Marketing Approval for sale.

The SFDA has stated  that it is  fast-tracking  the drug  approval  process  for
Sinovac's potential SARS vaccine.

Pre-clinical  trials on rhesus and macaque monkeys showed Sinovac's  vaccine was
effective in preventing  infection.  The monkeys that were  inoculated  with the
vaccine  experienced  no serious  side  effects  after they were  exposed to the
virus.

Immune response was invoked by Sinovac's vaccine in all animal models. No immune
enhancement was observed in any of the pre-clinical testing.

Clinical  protocols  for the testing of  Sinovac's  potential  SARS vaccine were
developed in accordance with stringent newly established worldwide protocols for
the conduct of SARS vaccine clinical  trials.  The protocols were also developed
with the cooperation of various world health authorities, as well as the Chinese
FDA (SFDA),  China Centre of Disease  Control,  and the China  Medical  Academic
College.

The ultimate aim of the vaccine will be to provoke the body's immune system into
action, so that it can destroy the SARS virus if infected.

The first phase of human  testing will  determine if the vaccine is safe for the
human body. During and after the Phase I trial, analysis will be conducted.  The
summary  report  will be sent to the  SFDA  for its  review  and if the  vaccine
receives SFDA approval,  then it will proceed into Phase II clinical  trials.  A
second  phase of  clinical  testing  would have more  participants  from a wider
demographic range.

ABOUT SARS
- ----------

SARS, a viral respiratory illness caused by a coronavirus, was first reported in
Asia in February 2003, and over the following few months,  the illness spread to
more than two dozen countries in North America, South America, Europe, and Asia.
According to the World Health Organization,  during the SARS outbreak of 2003, a
total of 8,098 people worldwide became sick with SARS; of these, 774 died.

ABOUT SINOVAC BIOTECH LTD.
- --------------------------

Sinovac    Biotech   Ltd.    specializes    in   the   research,    development,
commercialization,  and sales of human vaccines for infectious illnesses such as
Hepatitis A and Hepatitis B, influenza and "SARS". Sinovac is one of the leading
emerging  biotechnology  companies in China. Working closely with Chinese public
health  officials,  Sinovac  focuses on  manufacturing  and marketing  human-use
vaccines and related  products,  and currently markets its vaccine for Hepatitis
A. Sinovac is currently  the only company in the world to have  commenced  human
clinical trials for a vaccine to prevent SARS.

For further  information  please refer to the Company's  filings with the SEC at
www.sec.gov or refer to Sinovac's website at www.sinovac.com.
- -----------                                  ----------------

Contact: Sinovac Investor Relations at (888) 888 8312 or (604) 684-5990 or email
to info@sinovac.com.
   ----------------




THIS NEWS RELEASE MAY INCLUDE  FORWARD-LOOKING  STATEMENTS WITHIN THE MEANING OF
SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION
21E OF THE UNITED STATES  SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED,  WITH
RESPECT  TO  ACHIEVING  CORPORATE  OBJECTIVES,   DEVELOPING  ADDITIONAL  PROJECT
INTERESTS,   SINOVAC'S   ANALYSIS  OF   OPPORTUNITIES  IN  THE  ACQUISITION  AND




<PAGE>






DEVELOPMENT  OF VARIOUS  PROJECT  INTERESTS  AND CERTAIN  OTHER  MATTERS.  THESE
STATEMENTS  ARE MADE UNDER THE "SAFE  HARBOR"  PROVISIONS  OF THE UNITED  STATES
PRIVATE  SECURITIES  LITIGATION  REFORM  ACT  OF  1995  AND  INVOLVE  RISKS  AND
UNCERTAINTIES  WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER  MATERIALLY FROM THOSE
IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.





</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>sinovacexh99_2.txt
<DESCRIPTION>SINOVAC BIOTECH 6K, PRESS RELEASE 8.11.04
<TEXT>






EXHIBIT 99.2
- ------------


    SINOVAC BIOTECH UPDATES ON ITS APPLICATION TO THE AMERICAN STOCK EXCHANGE
    -------------------------------------------------------------------------
      (AMEX) AND ANNOUNCES THE APPOINTMENT OF NEW ADDITIONS TO THE BOARD OF
      ---------------------------------------------------------------------
                                    DIRECTORS
                                    ---------

BEIJING,  11 August,  2004 - Sinovac  Biotech Ltd.  ("Sinovac")  ("the Company")
(NASD OTC-BB:  SNVBF) updates on the  forthcoming  listing on the American Stock
Exchange (AMEX). Sinovac's application for listing on AMEX has progressed to the
point that  management  believes  the Company  will be listed in August or early
September of 2004.

Once accepted on the American Stock Exchange, Sinovac will again demonstrate its
leadership  as  one  of  China's  most  modern,  publicly  traded  biotechnology
companies.  Sinovac  management  believes  that the Company will derive  several
benefits  from its  listing on AMEX.  Once  listed,  Sinovac  will  become  more
desirable to institutional  investors,  receive broader investor awareness,  and
improved share price stability and liquidity.

In continuing efforts to ensure good corporate governance, Sinovac announces the
appointment  of Mr. Simon J. Anderson and Mr. Hao You to the Company's  Board of
Directors. In addition,  Sinovac has appointed a new audit committee,  comprised
of Dr. K.K.  Ong, Mr. Simon J.  Anderson and Mr. Hao You in order to ensure that
the audit  committee is  comprised  entirely of expert,  impartial  directors as
required by AMEX corporate governance standards.

Mr. Simon J. Anderson brings excellent  credentials to Sinovac. Mr. Anderson has
been a major partner and Vice  President of MCSI  Consulting  Services Inc. from
1996 to present.  Mr.  Anderson is both a Chartered  Accountant  and a Chartered
Business  Valuator  and from 1994 to 1996 was a partner  with BDO  Dunwoody,  an
international  accounting and consulting  firm, where he specialized in mergers,
acquisitions  and  valuations.  Mr.  Anderson  was  admitted  as a member of the
Institute of Chartered Accountants in British Columbia in 1986. He has also been
a member of the Canadian  Institute of Charter Business Valuators since 1990. In
addition,  Mr.  Anderson is a director  and/or Chief  Financial  Officer of four
other public companies.

Mr. Hao You has equally  impressive  credentials.  Mr. You is currently the Vice
President of SIMCOM international  Holdings,  Inc. ("SIMCOM").  He has extensive
knowledge of and is responsible for SIMCOM's  marketing and sales efforts in the
Asia Pacific region,  which includes  establishing  and  maintaining  successful
business  relations  with relevant  trade  organizations,  government  agencies,
technical societies and various other  organizations.  Sinovac believes that Mr.
You's business savvy and enthusiasm combined with his business relationships and
his  background  in  marketing,   engineering  and  management  will  contribute
tremendously to the successful growth of Sinovac.

Dr.  Wei  Dong  Yin,  president  of  Sinovac  commented,   "these   developments
demonstrate  how  we  continue  to  develop  our  business  with  diligence  and
efficiency,  as we strive to build a solid  foundation  for sales  growth of our
approved  vaccine products and for the advancement of the other vaccines that we
are currently developing."

ABOUT SINOVAC BIOTECH LTD.
- --------------------------

Sinovac    Biotech   Ltd.    specializes    in   the   research,    development,
commercialization,  and sales of human vaccines for infectious illnesses such as
Hepatitis A and Hepatitis B, influenza and "SARS".

Sinovac is one of the leading emerging biotechnology companies in China. Working
closely with Chinese public health  officials,  Sinovac focuses on manufacturing
and marketing human-use vaccines and related products, and currently markets its
vaccine for  Hepatitis A. Sinovac is currently  the only company in the world to
have commenced human clinical trials for a vaccine to prevent SARS.

For further  information  please refer to the Company's  filings with the SEC at
www.sec.gov or refer to Sinovac's website at www.sinovac.com.

Contact: Sinovac Investor Relations at (888) 888 8312 or (604) 684-5990 or email
to info@sinovac.com
   ----------------



<PAGE>






THIS NEWS RELEASE MAY INCLUDE  FORWARD-LOOKING  STATEMENTS WITHIN THE MEANING OF
SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION
21E OF THE UNITED STATES  SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED,  WITH
RESPECT  TO  ACHIEVING  CORPORATE  OBJECTIVES,   DEVELOPING  ADDITIONAL  PROJECT
INTERESTS,   SINOVAC'S   ANALYSIS  OF   OPPORTUNITIES  IN  THE  ACQUISITION  AND
DEVELOPMENT  OF VARIOUS  PROJECT  INTERESTS  AND CERTAIN  OTHER  MATTERS.  THESE
STATEMENTS  ARE MADE UNDER THE "SAFE  HARBOR"  PROVISIONS  OF THE UNITED  STATES
PRIVATE  SECURITIES  LITIGATION  REFORM  ACT  OF  1995  AND  INVOLVE  RISKS  AND
UNCERTAINTIES  WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER  MATERIALLY FROM THOSE
IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>sinovacexh99_3.txt
<DESCRIPTION>SINOVAC BIOTECH 6K, PRESS RELEASE 8.13.04
<TEXT>






EXHIBIT 99.3
- ------------


                              SINOVAC BIOTECH LTD.
                              --------------------
                    CLARIFIES FURTHER ON APPLICATION TO AMEX
                    ----------------------------------------

BEIJING, August 13, 2004 - Sinovac Biotech Ltd. ("Sinovac", "the Company") (NASD
OTC-BB:  SNVBF) has filed application for listing on the American Stock Exchange
("AMEX").  The American  Stock  Exchange is the second  largest  equity  trading
floor-based exchange in the United States.  Sinovac management believes that the
Company  meets both the  quantitative  and  qualitative  criteria  required  for
listing,  as outlined  below.  The Company does wish to clarify  that  Sinovac's
application  is currently  under  review and has not yet been  approved by AMEX.
Sinovac  has  taken  the  steps to meet  all the  necessary  requirements  to be
included  on the  AMEX.  On 30  June  2004,  Sinovac  filed  its  20F  financial
statements for the full fiscal year 2003. Most recently, in accordance with AMEX
corporate  governance  standards,  Sinovac has appointed a new audit  committee,
comprised of Dr. K.K.  Ong,  Mr.  Simon J.  Anderson and Mr. Hao You in order to
ensure that the audit  committee  is  comprised  entirely  of expert,  impartial
directors.

If approved for listing on the AMEX,  Sinovac  management feels that the Company
would benefit from greater accessibility to institutional  investment,  improved
share price stability and liquidity, and broader investor awareness.

The American Stock Exchange has established certain quantitative and qualitative
standards  for the  initial  listing  of  foreign  companies.  Sinovac  has made
application  under  Standard  3,  which  requires  the  following   quantitative
standards:

Shareholders' equity                $4 million
Total market capitalization         $50 million
Distribution                        800 public shareholders and 500,000 shares
                                    publicly held
                                    OR
                                    400 public shareholders and 1 million shares
                                    publicly held
                                    OR
                                    400 public shareholders, 500,000 shares
                                    publicly held, and average daily trading
                                    volume of 2,000 shares for previous 6 months
Market value public float           $15 million

Sinovac currently has shareholders' equity of approximately US $10 million. At a
$3.25 share price, the Company has a $113 million market  capitalization.  As of
August 2004, Sinovac has over 4,100 shareholders.  Finally,  the market value of
the freely tradeable public float is currently over $34 million.  Thus,  Sinovac
management  believes  that it  currently  meets the  quantitative  criteria  for
listing on the American Stock Exchange.

In further evaluating a company's eligibility for listing on AMEX, the following
qualitative  factors are also  considered:  the nature of a company's  business,
market for its products,  reputation of its  management,  historical  record and
pattern of growth, financial integrity,  demonstrated earnings power, and future
outlook.  At this time,  the  Company  believes  that it has  submitted  all the
relevant  documentation  to AMEX in order for the exchange to make an assessment
of whether  Sinovac is eligible for listing.  Furthermore,  management  believes
that the Company has  demonstrated  that it possesses the  qualitative  criteria
that the AMEX requires in its listed companies.

ABOUT SINOVAC BIOTECH LTD.
- --------------------------

Sinovac    Biotech   Ltd.    specializes    in   the   research,    development,
commercialization,  and sales of human vaccines for infectious illnesses such as
Hepatitis A and Hepatitis B, influenza and "SARS". Sinovac is one of the leading
emerging  biotechnology  companies in China. Working closely with Chinese public
health  officials,  Sinovac  focuses on  manufacturing  and marketing  human-use
vaccines and related  products,  and currently markets its vaccine for Hepatitis
A.  Sinovac  is the first and  currently  the only  company in the world to have
commenced human clinical trials for a vaccine to prevent SARS.

For further  information  please refer to the Company's  filings with the SEC at
www.sec.gov or refer to Sinovac's website at www.sinovac.com.
- -----------                                  ---------------




<PAGE>






Contact: Sinovac Investor Relations at (888) 888 8312 or (604) 684-5990 or email
to info@sinovac.com.
   ----------------




THIS NEWS RELEASE MAY INCLUDE  FORWARD-LOOKING  STATEMENTS WITHIN THE MEANING OF
SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION
21E OF THE UNITED STATES  SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED,  WITH
RESPECT  TO  ACHIEVING  CORPORATE  OBJECTIVES,   DEVELOPING  ADDITIONAL  PROJECT
INTERESTS,   SINOVAC'S   ANALYSIS  OF   OPPORTUNITIES  IN  THE  ACQUISITION  AND
DEVELOPMENT  OF VARIOUS  PROJECT  INTERESTS  AND CERTAIN  OTHER  MATTERS.  THESE
STATEMENTS  ARE MADE UNDER THE "SAFE  HARBOR"  PROVISIONS  OF THE UNITED  STATES
PRIVATE  SECURITIES  LITIGATION  REFORM  ACT  OF  1995  AND  INVOLVE  RISKS  AND
UNCERTAINTIES  WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER  MATERIALLY FROM THOSE
IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>sinovacexh99_4.txt
<DESCRIPTION>SINOVAC BIOTECH 6K, PRESS RELEASE 8.30.04
<TEXT>






EXHIBIT 99.4
- ------------


                              SINOVAC BIOTECH LTD.
                              --------------------
      ISSUES CORPORATE UPDATE INCLUDING VACCINE DEVELOPMENT, FINANCING AND
      --------------------------------------------------------------------
                                 GROWTH STRATEGY
                                 ---------------

BEIJING,  August 30, 2004 - Sinovac  Biotech Ltd.  ("Sinovac")  ("the  Company")
(NASD OTC-BB:  SNVBF)  updates  today on many aspects of the Company's  business
activities - past, present, and future.

VACCINES
- --------

Sinovac has three  vaccines  that have  completed  all three  phases of clinical
trials - Hepatitis A, Hepatitis A&B combined, and influenza (flu). The Hepatitis
A vaccine,  Healive(TM),  is currently experiencing strong sales growth in China
and  applications  have been filed for its sale in nine other countries to date.
Sinovac's  Hepatitis A&B combined  vaccine,  Bilive(TM),  is expected to receive
approval to commence  sales in China in  September  2004 and to achieve  similar
sales growth to Healive(TM).  The flu vaccine completed clinical trials in April
2004 and a New Drug  Application  has been  filed with the SFDA  (Chinese  FDA).
Approval of Sinovac's flu vaccine is expected in 2005 upon completion of the flu
vaccine  production  line.  Since demand for a safe and effective flu vaccine in
China  greatly  outstrips  supply,  sales  are  expected  to  escalate  rapidly.
Furthermore,  since  individuals  are  vaccinated  against  the flu on an annual
basis, demand will remain high every year.

Sinovac  is the  first  and  currently  the only  company  in the  world to have
commenced  clinical  trials for a vaccine to prevent SARS.  The Company has also
started development for a vaccine targeting avian flu.

SARS Vaccine
- ------------

November  2003 - Sinovac  announced its  breakthrough  in the creation of a SARS
vaccine and subsequent  plans to commence  clinical  trials for the vaccine upon
the approval by the SFDA  (Chinese  FDA).  Animal tests on safety,  efficacy and
immunology were completed  successfully.  Tests of the vaccine on monkeys showed
it was effective in fighting against SARS infection with no serious side effects
after the animals were exposed to the virus.

January 2004 - Sinovac received approval from the SFDA (Chinese FDA) to commence
clinical  trials for its SARS  vaccine.  Sinovac  jointly  worked with China CDC
(Center of Disease  Control) and the China Medical  Academic College towards the
SARS vaccine.  Clinical  protocols for the testing of Sinovac's  potential  SARS
vaccine were developed in accordance with stringent newly established  worldwide
protocols for the conduct of SARS vaccine  clinical  trials.  The protocols were
developed  with the  cooperation  of the  Chinese  FDA (SFDA)  and world  health
authorities.

February  2004 - Sinovac  received  authorization  from the SFDA to  select  the
China-Japan  Friendship  Hospital  in Beijing  as the  location  to conduct  the
clinical  trial.  Professor  Lin  Jiangtao,  head  of  the  respiratory  Medical
Department of the China-Japan  Friendship Hospital was chosen as the chairperson
of the trial.  Volunteers were screened by the China-Japan  Friendship  Hospital
for the Phase I clinical test.  Sinovac became the only institute to be approved
by the State Drug Administration to conduct clinical trials of a SARS vaccine.

April 2004 - The Chinese  National  Institute for The Control of  Pharmaceutical
and  Biological  Products  (NICPBP)  issued the  testing  report  for  Sinovac's
potential SARS vaccine that stated it had passed all required testing  conducted
by the Chinese State.  The  inactivated  SARS vaccines and control  vaccines are
produced by Sinovac based on "Production  and Testing  Disciplines"  and Quality
Standards filed with the Chinese State Food and Drug Administration.

May 2004 - Phase I human  clinical  trials of SARS  vaccine  commenced  with the
first four  subjects  being  injected with the vaccine on Saturday May 22, 2004.
Throughout  the  months  of June,  July and  August  the  clinical  trials  have
continued  to go  well as more  subjects  have  been  injected  with  low-dosage
vaccine,  placebo,  or high-dosage  vaccine.  Each of the 36 subjects receives 2
injections,  28 days  apart,  of either the  vaccine or the  placebo and will be
observed for 210 days at which time Phase I will be complete.




<PAGE>






August 2004 - All 36 subjects of the Phase I human clinical  trials for its SARS
vaccine have now been vaccinated with either SARS vaccine or placebo.  According
to Professor Lin Jiangtao,  head of the respiratory  Medical Department with the
China-Japan  Friendship  Hospital  in Beijing,  who chairs the trial,  the first
group of 18 who have been inoculated with low-dosage SARS vaccine and the second
group  of 18 who  have  been  inoculated  with  high  dosage  vaccine  have  not
experienced any adverse reaction and are all in good health condition.

December 2004 - Phase I clinical  trials will be complete.  During and after the
Phase I trial,  analysis  will be conducted.  The summary  report of the initial
56-day  observation  period will be sent to the SFDA for its review and the full
210-day report will be completed in early 2005. The first phase of human testing
determines  if the vaccine is safe for the human body.  If the vaccine  receives
SFDA  approval,  then it will  proceed into the Phase II clinical  trial,  which
would include participants from a wider demographic range.

Hepatitis A - Healive(TM)
- -------------------------

Sinovac  is  currently  experiencing  strong  sales  growth of its  Hepatitis  A
vaccine,  Healive(TM).  Management of Sinovac is currently  projecting  domestic
Chinese sales of  approximately US $8.5 million for the current year ending 31st
December 2004 - an increase of about three times 2003 sales.

Hepatitis A&B Combined - Bilive(TM)
- -----------------------------------

Management  expects to receive  final  approval of its combined  Hepatitis  A&B,
Bilive(TM)  vaccine by the  Chinese  FDA in  September,  and expects to commence
sales of this product by October 2004. SFDA review of all documentation relating
to Bilive(TM) is complete.  The very final part of this approval  process is the
domestic  pricing of the product and that is expected to receive SFDA  clearance
at about US $7 to 8 per dose.  Management  of  Sinovac is  currently  projecting
domestic  Chinese  sales of  approximately  US $1.5 million for the current year
ending 31st December 2004.

Split Flu
- ---------

Sinovac  completed  clinical  trials  of it split  flu  vaccine  in early  2004.
Management  expects to receive  final  approval  of it Split Flu  vaccine by the
Chinese FDA in 2005 after the split flu production line is built.  500,000 doses
are planned to be sold in 2005 after the completion of the production line and 2
million doses are planned for the following year. After these initial production
levels, production is expected to increase rapidly to meet the escalating demand
of the Chinese population.

Avian Flu (Bird Flu)
- --------------------

Sinovac  initiated the Inactivated New Human Influenza  (H5N1) Vaccine  Research
and  Development  Project in March  2004.  Sinovac is working  jointly  with the
Center for Disease  Control of China.  The  research  protocol  has already been
completed and Sinovac has started working towards a vaccine.

Future Vaccine Development
- --------------------------

Sinovac is currently  evaluating other vaccine  development  opportunities  that
could offer similar growth potential as the Company's existing product pipeline.

ACQUISITIONS
- ------------

January 2004 - Sinovac  completed the  acquisition  of Tangshan Yian  Biological
Engineering Co. Ltd. Tangshan Yian operates in the city of Tangshan in China, as
a research and development company specializing in the R & D of various vaccines
including  flu, and  Hepatitis  vaccines.  The R & D operations of Tangshan Yian
complement  Sinovac's  other  operations  in new  and  updated  vaccines  to the
domestic Chinese and international markets.

Sinovac is actively looking for and evaluating potential synergistic acquisition
targets  both in  China  and  internationally.  The  rationale  behind  any such
acquisition  would  be  to  dramatically  increase  corporate  revenues  in  the
short-term,  and to leverage the  acquisitions'  existing  market share to allow




<PAGE>






faster  penetration  of Sinovac's  current  vaccines.  Careful  planning and due
diligence would be conducted before any such acquisition would be completed.

GOVERNMENT FUNDING - RESEARCH AND DEVELOPMENT
- ---------------------------------------------

To date,  Sinovac has  received a more than $US 2.2 million in research  funding
from the Chinese state government for its inactivated  SARS vaccine  development
program.  It is expected  that  funding of Sinovac's  SARS  vaccine  development
program will continue to be supported by the Chinese  government.  Management of
Sinovac  believes that because of its low-cost  advantage in China,  this amount
funds  significantly  more R & D than the same  research  budget  in the  United
States.

FINANCING
- ---------

Sinovac  closed a private  placement  offering  in  February  2004.  The private
placement was  oversubscribed and Sinovac raised total proceeds of US$4,750,000.
Each unit of the  placement  consisted  of one share of common stock of Sinovac,
one share purchase  warrant to purchase one additional  share of common stock of
Sinovac at  US$1.50  per  share,  and one  piggyback  warrant  to  purchase  one
additional  share of common stock of Sinovac at US$3.00 per share until November
14, 2005 only if the holder thereof exercises the share purchase warrant.

The  proceeds of the private  placement  are being used for  clinical  trials of
Sinovac's proprietary inactivated SARS vaccine, marketing of the Hepatitis A and
Hepatitis A&B combined vaccines, and construction of state-of-the-art production
facilities for the flu vaccine project.

If the warrants from this financing are fully exercised they would add a further
$18,774,000 to the treasury of Sinovac.

INSTITUTIONAL FINANCING
- -----------------------

It is  Sinovac's  intention  to  raise  further  financing  primarily  from  the
institutional  investment community, and also to engage in an investment banking
relationship  to assist the Company  with  financing  its growth.  It is further
anticipated  that such an  investment  bank would assist  Sinovac in  evaluating
potential  Merger & Acquisition  targets and in financing those that offered the
most synergy and made the most strategic sense.

AMEX LISTING
- ------------

Sinovac's  application  for listing on the  American  Stock  Exchange  (AMEX) is
currently under review.  Sinovac management believes that the Company meets both
the quantitative and qualitative criteria required for listing.

Sinovac currently has shareholders'  equity of approximately US $ 10 million. At
a $3.40 share price, the Company has a $119 million market capitalization. As of
August 2004, Sinovac has over 4,100 shareholders.  Finally,  the market value of
the freely tradable public float is currently about $36 million.  Thus,  Sinovac
management  believes  that it  currently  meets the  quantitative  criteria  for
listing on the American Stock Exchange.

In further evaluating a company's eligibility for listing on AMEX, the following
qualitative  factors are also  considered:  the nature of a company's  business,
market for its products,  reputation of its  management,  historical  record and
pattern of growth, financial integrity,  demonstrated earnings power, and future
outlook.  At this time,  the  Company  believes  that is had  submitted  all the
relevant  documentation  to AMEX in order for the exchange to make an assessment
of whether  Sinovac is eligible for listing.  Furthermore,  management  believes
that the Company has  demonstrated  that it possesses the  qualitative  criteria
that AMEX requires in it listed companies.

If accepted, Sinovac will be among the growing number of biotechnology companies
listed on the American Stock  Exchange.  With a subsequent  listing on the AMEX,
Sinovac   management   feels  that  the  Company   would  benefit  from  greater
accessibility to institutional investment, better share price stability, greater
share liquidity, and increased investor awareness.




<PAGE>






STOCK SPLIT
- -----------

The Board of  Directors  has decided  not to move  forward  with the  previously
announced stock split.  It determined  that the proposed  forward stock split of
the  company's  shares of common stock on a basis of two new shares for each old
share was no longer an  advantageous  move for the  company.  This  decision was
based on several factors,  including the fact that Sinovac will benefit from the
above  mentioned  advantages  that  will be gained  by the  Company's  impending
listing  on the  American  Stock  Exchange  as  well as the  preference  of many
institutional investors for stocks that trade above the US $3 level.

DOMESTIC CHINESE MARKET
- -----------------------

The Chinese  vaccine  market is quite  unique.  It is  controlled by the Chinese
Centre for  Disease  Control  (China  CDC),  which  serves two  functions:  as a
commercial  sales company and as the governmental  department in  pharmaceutical
sector. As a commercial organization,  China CDC purchases vaccines from vaccine
producers  and  distributes  them  inside  its own  organization.  CDC in  China
consists of many  different  regional  CDCs at different  levels of  government.
Typically,  vaccines are ordered by the provincial  CDC and then  distributed to
the local CDC in each city or county,  and then to the  hospitals.  Sinovac  has
successfully built a sales organization to address this distribution  system. To
date,  the Company  has built up a sales team of 36 people who each  address the
needs of the individual local CDCs around the country.

INTERNATIONAL MARKETS
- ---------------------

Sinovac is actively  developing its international  market and collaborating with
professional and well-rounded companies in order to accelerate its international
marketing  strategy.  Sinovac  has  submitted  registration  documents  in  nine
countries,   consisting  of  Brazil,  Indonesia,   Mexico,  Malaysia,  Pakistan,
Philippines, Sri Lanka, Thailand, and Vietnam.

"These nine countries  represent  Sinovac's first foreign  applications  for its
affordable  world-class  vaccines.   These  vaccine  registration   applications
represent our initial international markets as we make progress towards sales in
32 targeted countries." stated Sinovac's president, Dr. Wei Dong Yin.

To date,  Sinovac has selected two experienced  marketing and sales companies to
assist  in  marketing   its   products  in   international   markets.   Innopath
International,  a Korean  company,  has extensive  international  vaccine market
experience and a well-organized  worldwide sales network.  Innopath's management
team is assisting Sinovac in developing its international sales. This assistance
includes  marketing strategy  development,  registration in some of the targeted
countries,  and the  establishment of distribution  channels through  Innopath's
existing relationships with vaccine distributors in the international market.

Another  international  sales  agent for  Sinovac is China  National  Medicine &
Health  Products  Import/Export  Corporation  (abbreviated  in China as MEHECO).
MEHECO has a reputation for nurturing diverse  relationships with customers from
more than one hundred countries and regions in the world.

ABOUT SINOVAC BIOTECH LTD.
- --------------------------

Sinovac    Biotech   Ltd.    specializes    in   the   research,    development,
commercialization,  and sales of human vaccines for infectious illnesses such as
Hepatitis A and Hepatitis B, influenza and "SARS." Sinovac is one of the leading
emerging  biotechnology  companies in China. Working closely with Chinese public
health  officials,  Sinovac  focuses on  manufacturing  and marketing  human-use
vaccines and related  products,  and currently markets its vaccine for Hepatitis
A.  Sinovac  is the first and  currently  the only  company in the world to have
commenced clinical trials for a vaccine to prevent SARS.

If you would like to receive  regular  updates on Sinovac please send your email
request to info@sinovac.com.
           ----------------

For further  information  please refer to the Company's  filings with the SEC on
EDGAR or refer to Sinovac's website at www.sinovac.com.
                                       ---------------

Contact:   Investor   Relations   at  (888)  888  8312  or  (604)   684-5990  or
info@sinovac.com.
- ----------------




<PAGE>






THIS NEWS RELEASE MAY INCLUDE  FORWARD-LOOKING  STATEMENTS WITHIN THE MEANING OF
SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION
21E OF THE UNITED STATES  SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED,  WITH
RESPECT  TO  ACHIEVING  CORPORATE  OBJECTIVES,   DEVELOPING  ADDITIONAL  PROJECT
INTERESTS,   SINOVAC'S   ANALYSIS  OF   OPPORTUNITIES  IN  THE  ACQUISITION  AND
DEVELOPMENT  OF VARIOUS  PROJECT  INTERESTS  AND CERTAIN  OTHER  MATTERS.  THESE
STATEMENTS  ARE MADE UNDER THE "SAFE  HARBOR"  PROVISIONS  OF THE UNITED  STATES
PRIVATE  SECURITIES  LITIGATION  REFORM  ACT  OF  1995  AND  INVOLVE  RISKS  AND
UNCERTAINTIES  WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER  MATERIALLY FROM THOSE
IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.



</TEXT>
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