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<SEC-DOCUMENT>0001127855-09-000181.txt : 20090506
<SEC-HEADER>0001127855-09-000181.hdr.sgml : 20090506
<ACCEPTANCE-DATETIME>20090506141306
ACCESSION NUMBER:		0001127855-09-000181
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090409
FILED AS OF DATE:		20090506
DATE AS OF CHANGE:		20090506

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:	001-32371
		FILM NUMBER:		09800806

	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>sinovac6k040909.htm
<DESCRIPTION>SINOVAC BIOTECH 6K, 04.09.09
<TEXT>
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    <title>sinovac6k040909.htm</title>
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6-K</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington
D.C. 20549</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">REPORT OF
FOREIGN ISSUER</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PURSUANT
TO RULE 13a-16 OR 15d-16 OF THE</font></div>
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EXCHANGE ACT OF 1934</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For the
month of April, 2009</font></div>
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File Number: 001-32371</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SINOVAC
BIOTECH LTD.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">39
Shangdi Xi Road</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Haidian
District</font></div>
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100085, People&#8217;s Republic of China</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.</font></div>
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by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1):______________</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7):______________</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</font></div>
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&#160;No&#160;<font style="TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160; </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">X&#160;&#160;&#160;&#160;&#160;
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connection with Rule 12g3-2(b):</font></div>
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</font></font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div><br>
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</font></div>
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BIOTECH LTD.</font></div>
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6-K</font></div>
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CONTENTS</font></div>
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    <div>
      <div align="center">
        <div align="center">
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                <td valign="top" width="67%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Page</font></font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="67%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Signature</font></div>
                </td>
                <td valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="67%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exhibit
      99.1 &#8211; Press Release</font></div>
                </td>
                <td valign="top" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4</font></div>
                </td>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><br>
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        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
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</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURE</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 18pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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      <div>
        <div align="left">
          <div align="left">
            <div align="left">
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                    <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="top" width="38%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SINOVAC
      BIOTECH LTD.</font></td>
                    <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="top" width="38%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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                  <tr>
                    <td align="left" valign="top" width="50%" style="BORDER-BOTTOM: #ffffff solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td valign="top" width="3%" style="BORDER-BOTTOM: #ffffff solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:
      </font></div>
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                    <td align="left" nowrap valign="top" width="35%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/&#160;Weidong
      Yin</font></td>
                    <td valign="top" width="12%" style="BORDER-BOTTOM: #ffffff solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name:&#160;&#160;&#160;Weidong
      Yin</font></td>
                    <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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                  <tr>
                    <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title:&#160;&#160;&#160;&#160;&#160;
      Chief Executive Officer, President</font></td>
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                  <tr>
                    <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Date:&#160;&#160;Apil
      8, 2009</font></td>
                    <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
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            <div align="left">&#160;</div>
            <div align="left">&#160;</div>
            <div align="left">&#160;</div>
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          </div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>sinovacexh99_1.htm
<DESCRIPTION>SINOVAC BIOTECH 6K, PRESS RELEASE 04.09.09
<TEXT>
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    <div>
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    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-DECORATION: underline">Exhibit
99.1</font></font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Sinovac
Reports Unaudited Full Year 2008 and Fourth Quarter Financial
Results</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-
Conference call scheduled for Thursday, April 9, 2009 at 9:00 a.m. ET
- -</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-
Provides full year 2009 sales guidance of $55 million to $60 million
- -</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
Thursday April 9, 2009, 8:57 am EDT</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BEIJING,
April 9 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. (NYSE Amex: SVA), a leading
developer and provider of vaccines in China, today announced the Company's
unaudited financial results for the three and twelve month periods ended
December 31, 2008.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Full Year 2008 Financial
Highlights</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-- Record
full year 2008 sales increasing 39% year-over-year to $46.5 million</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-- Sold
6.93 million doses of Healive&#174; in 2008, up from 5.12 million in
2007</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-- Record
full year net income growing of 5% to $8.01 million</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-- Full
year EPS is $0.19 </font>

      <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-- Cash
and cash equivalents increased 93% to $32.9 million, compared to the beginning
of 2008, due to an increase in operation profits, improved accounts receivable
collection and raising capital.</font></div>
      <div align="justify">&#160;</div>
    </div>
    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;Business
Highlights</font></font></font></font></div>
    <div>
      <div align="center">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">--
      In 2008, Sinovac initiated the development program of a vaccine against
      enterovirus 71 (EV 71), which causes hand, foot and mouth disease.
      Development is progressing on schedule and good achievements have been
      made to date. Sinovac expects to file clinical trial application with
      China SFDA in 2009.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>
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            <tr valign="top">
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">--
      Recognizing the sizeable market opportunity for animal vaccines, Tangshan
      Yian, Sinovac's wholly owned subsidiary, is focusing on the animal vaccine
      business to help drive growth. In January 2009, the Company obtained
      approval from China's Ministry of Agriculture to conduct field trials of
      internally developed inactivated animal rabies vccine. Sinovac expects the
      field trials to take approximately nine months to complete and to launch
      the vaccine in China's veterinary market in
  2010.</font></div>
              </td>
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              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">--
      Sinovac completed the pre-clinical trial for the Japanese encephalitis
      vaccine in 2008 and filed the clinical trial application with SFDA in
      January of 2009.</font></div>
              </td>
            </tr>
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              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">--
      In an effort to enhance the competitiveness and improve efficiency
      of&#160;&#160;&#160;&#160;&#160;&#160;&#160;the sales force, Sinovac
      increased headcount and modified the
      marketing&#160;&#160;&#160;&#160;&#160;&#160;&#160;and sales
      organizational structure.</font></div>
              </td>
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              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">--
      Sinovac continues to focus on expanding its product export opportunities
      by moving forward on product registration outside of China. In late 2008,
      Sinovac entered into exclusive distribution agreements for Healive in
      Nepal and India, and for Anflu in the Philippines. The local distribution
      partners in Nepal and Philippines filed applications with local
      authorities in 2008. The registration process for Anflu in Mexico and
      Healive in Ukraine are progressing on schedule. Sinovac sold 11,000 doses
      of Healive to the Mongolian market in 2009 and is currently negotiating a
      long-term distribution
agreement.</font></div>
              </td>
            </tr>
        </table>
      </div>
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            <tr valign="top">
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">--
      In March 2009, Sinovac received GMP certification for its new filling and
      packaging production facility, increasing the Company's annual production
      capacity to 20 million doses, with the potential for 40 million
      doses</font></div>
              </td>
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            <tr valign="top">
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">--
      In October 2008, the Company established a wholly-owned subsidiary,
      Sinovac Biotech (Hong Kong) Ltd, which is focused on registering and
      distributing commercialized vaccines and those under development in Hong
      Kong and then will be responsible for product exports. The subsidiary will
      also help to facilitate opportunities for R&amp;D collaboration in Hong
      Kong.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div>
      <div align="center">
        <table border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
            <tr valign="top">
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">--
      Sinovac has made progress in completing the clinical application to import
      and commercialize LG Life Sciences' hepatitis B vaccine, Euvax-B(TM),
      pursuant to the previously disclosed exclusive distribution agreement.
      Sinovac expects to obtain approval from the SFDA to conduct clinical
      trials for Euvax-B in China in
2009.</font></div>
              </td>
            </tr>
        </table>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
Weidong Yin, Chairman, President and CEO, commented, "We are pleased with our
results for the quarter and the year, with full year 2008 sales up 39%, in line
with our expectations. The sales of our vaccines continue to grow as awareness
of the benefits of inoculations for hepatitis A and seasonal influenza increases
across China. As reported in February 2009, the State Food and Drug
Administration (SFDA) completed a site inspection of Sinovac in conjunction with
the production capacity buildup program for Panflu, with the intention to
protect China's residents if an outbreak of human bird flu should occur. In
March, we received GMP certification at our filling and packaging production
facility, which increased our annual production capacity to 20 million doses and
provided the potential to double capacity to 40 million doses. This capacity
expansion provides Sinovac with a solid foundation for supporting the government
stockpiling</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">program
for Panflu and increasing the sales quantities for our commercialized vaccines,
as well as providing for the future launch of products in our vaccine
development pipeline. Although we are feeling the effect of the financial
crisis, the healthcare industry is not very sensitive to the economic cycle.
Sinovac has accumulated resources of technological expertise, operation
management experiences, and investment capability, which positions the Company
well to execute our sales growth strategy in 2009 and achieve our full year
sales increase of 20% over 2008 levels.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"EV 71
causing foot, hand, mouth disease is a significant health concern among children
across Asia, as the viral illness has reportedly infected more than 500,000
children in China last year. Our research and development team has made
significant progress in advancing the pre-clinical studies. We are aiming to
develop the world's first EV 71 vaccine and have recently presented its findings
at the Chinese New Vaccines Reporting Conference. We are on track to file the
clinical trial application with the SFDA in 2009 in order to commence human
dosing. The Company holds the development rights to this first-of-its-kind
vaccine and intends to submit the patent application for this vaccine in China
in 2009. We anticipate that this vaccine should become a flagship product given
the severity of recent hand, foot and mouth disease outbreak in China and other
countries. As the developer of a vaccine against hand, foot and mouth disease,
Sinovac is well positioned to address this global unmet medical need as cases
continue to be reported in China and neighboring countries. Sinovac is proud to
take a leadership position, as we did with Panflu, to benefit China and the
world by developing and manufacturing high quality, novel vaccines," concluded
Mr. Yin.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Twelve
Months Ended December 31, 2008</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For the
twelve months ended December 31, 2008, sales reached $46.5 million, compared to
$33.5 million for the full year 2007, representing 39% growth.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the twelve months ended December 31, 2008, Sinovac sold 6.93 million doses of
Healive, compared to 5.12 million doses for the same period in 2007. Sinovac
sold 1.56 million doses of Anflu during the full year 2008, compared to 1.59
million doses for the same period of the prior year. The Company sold 255,000
doses of Bilive during the 2008 period, compared to 15,684 doses in the prior
year period. For the first twelve months of 2008, Healive, Anflu, and Bilive as
a percentage of sales represented 88%, 9% and 3%, respectively.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gross
profit for twelve months ended December 31, 2008 was $36.6 million, with a gross
margin of 79%, compared to $27.0 million, or 81%, for the same period of
2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
operating expenses for the twelve months ended December 31, 2008 were $21
million, compared to $13.6 million for the same period 2007. Selling, general
and administrative expenses for the twelve months ended December 31, 2008 were
$17.5 million, compared to $12.0 million in the same period of 2007. SG&amp;A
expenses as a percentage of sales represented 37.6% in the 2008 period, compared
to 35.7% in the same period of last year.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
expenditures on research and development expenses for the twelve months ended
December 31, 2008 were $2.8 million, compared to $965,000 in the same period of
2007. The increase in R&amp;D expense for 2008 was partly attributable to the
expenses for the development of its vaccines against avian flu, EV 71 and animal
rabies.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Operating
income was $15.6 million for the twelve months ended December 31, 2008, compared
to $13.5 million in the same period of 2007. The year-over-year increase in
operating income reflected increased sales of hepatitis A and hepatitis A&amp;B
vaccine in 2008.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
income for the twelve months ended December 31, 2008 included $702,000 of
interest and financing expenses, $3.0 million of income taxes expense, $291,000
of interest and other income and $4.2 million of minority interest. Net income
for the same period of 2007 included $478,000</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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      <div id="HDR">
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      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">of
interest and financing expenses, $2.0 million of income taxes, $191,000 of
interest and other income and $3.6 million of minority interest. Net income for
the twelve months ended December 31, 2008 was $8.0 million, or $0.19 per diluted
share, compared to $7.7 million, or $0.19 per diluted share, in the same period
of 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In March
2009, Sinovac Beijing was granted High and New Technology Enterprises (HNTE)
status by the Chinese government. HNTEs are entitled to the preferential income
tax rate of 15%, compared to the unified income tax rate of 25%, retroactively
to January 1, 2008. Sinovac Beijing will benefit from the lower tax rate for a
three-year period, covering 2008, 2009 and 2010.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Retroactively
applying the HNTE tax rate of 15% for the full year ended December 31, 2008
resulted in a $2.1 million decrease in the provision of the current income tax
with a corresponding reduction in the income tax liability and a $1.1 million
increase in deferred income tax expense with an offset to deferred income tax
assets. The rate change was recorded in the period that changes
occurred.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Three
Months Ended December 31, 2008</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For the
fourth quarter 2008, sales were $12.4 million, compared to $9.2 million in the
fourth quarter 2007. The year-over-year increase in sales reflected Sinovac's
strategy to continue to devote significant resources to marketing Healive to the
private pay market in China, as compared to the market created by government
purchasing initiatives under the Expanded Immunization Program that may include
the lower priced, live hepatitis A vaccine produced by state owned
entities.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the fourth quarter of 2008, Sinovac sold 1.62 million doses of Healive, compared
to 1.14 million doses for the same period of 2007. Sinovac sold 1.05 million
doses of Anflu during the fourth quarter of 2008, compared to 0.52 million doses
for the same period of the prior year. During the fourth quarter of 2008,
Sinovac sold 21,000 doses of Bilive, compared to nil doses in the prior year
period. For the fourth quarter of 2008, Healive, Anflu, and Bilive as a
percentage of sales represented 78.8%, 1.5% and 19.7%,
respectively.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gross
profit for fourth quarter 2008 was $7.7 million, with a gross margin of 63%,
compared to $6.3 million, and a gross margin of 68%, for the same period of
2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
operating expenses for the fourth quarter of 2008 were $4.6 million, compared to
$3.0 million in the same period 2007. Selling, general and administrative
expenses for the fourth quarter of 2008 were $4.1 million, compared to $2.5
million in the same period of 2007. SG&amp;A expenses as a percentage of sales
represented 33% in the fourth quarter of 2008, compared to 27% in the same
period in the prior year. The increase in SG&amp;A in the fourth quarter of 2008
was in line with the increased business activity in 2008. In particular, payroll
and bonus, higher consulting fees, travel and other expenses drove the
year-over-year increase.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
expenditures on research and development expenses for the fourth quarter of 2008
were $359,000, compared to $354,000 in the same period of 2007. The R&amp;D
expenses in the quarter are mainly incurred for the advancement of its vaccine
candidates in the pre-clinical development pipeline, including Sinovac's vaccine
against EV 71 and its human rabies candidate.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Operating
income was $3.1 million for the fourth quarter of 2008, compared to $3.3 million
in the same period of 2007. The year-over-year variance in operating income
reflected relatively moderate higher expense in the fourth quarter.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
income for the fourth quarter of 2008 included $284,000 in income tax recovery,
$327,000 interest and other income and $1.4 million of minority interest. Net
income for the same period</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">of 2007
included $184,000 of interest and financing expenses, $42,000 of income taxes
expense, $111,000 other expenses and $965,000 of minority interest. Net income
for the fourth quarter of 2008 was $2.4 million, or $0.06 per diluted share,
compared to $2.0 million, or $0.05 per diluted share, in the same period of
2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
December 31, 2008, Sinovac's cash and cash equivalents totaled $32.9 million,
compared to $20.5 million as of September 30, 2008. The 60.4% increase in cash
and cash equivalents compared to the third quarter of 2008 was primarily
attributable to improved accounts receivables collection.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Recent
Developments</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Following
the completion of a large scale, post-approval marketing study, the safety and
immunogenicity of Sinovac's seasonal influenza vaccine, Anflu, was analyzed and
reviewed by 18 provincial and municipal CDC entities at the Summary Conference
of Phase IV Clinical Research held in October 2008. The experts from the China
CDC and provincial CDCs presented findings that confirm that Anflu has a good
safety and immunogenicity profile. CDC experts also stated that the safety and
immunogenicity profile of Anflu are equivalent to the imported flu vaccines used
as control vaccines in the trial.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sinovac
continues to focus on expanding its product export opportunities by moving
forward on product registration outside of China. Sinovac has entered into
exclusive distribution agreements for Healive in Nepal and India, and for Anflu
in the Philippines. Distribution partners in Nepal and Philippines filed
applications with local authorities in 2008. The registrations for Anflu in
Mexico and Healive in Ukraine are progressing on schedule. These local
distribution partners are well positioned to help expand the global reach of
Sinovac's vaccines by commercializing Sinovac's products outside of China. In
January 2009, Sinovac responded to the emerging hepatitis A epidemic situation
in Mongolia by selling 11,000 doses of Healive to the Mongolian market through
the Company's agent in China. Sinovac has received positive market feedback in
the region and is evaluating opportunities to enter a long-term distribution
agreement for the Mongolian market.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Related
to the Phase II clinical trial for the pandemic split influenza vaccine, the
on-site activities, including inoculation, blood collection and safety
inspection, were completed in October 2008. The testing of HI (hemagglutination
inhibition) antibody in subjects' serum has also been completed. Sinovac has
received the serum antibody testing report from NICPBP (National Institute for
the Control of Pharmaceutical and Biological Products). The unblended result
shows the vaccine has good safety and immunogenicity profile. Sinovac is
currently conducting the detailed analysis and preparing the summary
report.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
January 2009, the Company's wholly owned subsidiary, Tangshan Yian Biological
Engineering Co., Ltd, obtained approval from China's Ministry of Agriculture to
conduct field trials of its internally developed inactivated animal rabies
vaccine, enabling the Company to enter the veterinary vaccine market in China
with a high quality domestically-produced vaccine. Sinovac anticipates that the
field trials will take approximately nine months to complete and that the
vaccine will be launched in China's veterinary market in 2010.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
reported by media sources in February 2009, the State Food and Drug
Administration (SFDA) completed a site inspection of Sinovac in conjunction of
the government stockpiling program for Panflu, the pandemic influenza vaccine
for which Sinovac holds manufacturing rights, to protect China's residents if an
outbreak of human bird flu should occur. The production of the H5N1 vaccine for
stockpiling is progressing on schedule.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In March
2009, Sinovac received GMP certification from the SFDA for its new filling and
packaging production facility. With the receipt of the GMP certification,
Sinovac's annual production capacity increased to 20 million doses, and has the
potential to double to 40 million</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">doses.
This production milestone ensures that Sinovac can fully meet increasing market
demand and potential production increases for currently commercialized products,
such as Healive, Bilive and Anflu. The filling and packaging production plant
also has the capabilities to fill and package Panflu, in support of the
government stockpiling program, as well as products currently in Sinovac's
development pipeline upon future launch following regulatory
approval.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In 2008,
Sinovac initiated the development program of a vaccine against EV 71.
Development is progressing on schedule and good achievements have been made to
date. The findings from the pre-clinical studies for the EV 71 vaccine were
recently presented at the Chinese New Vaccines Reporting Conference. Sinovac is
on track to file a clinical trial application with China SFDA in the third
quarter of 2009. The Company holds the development rights to this
first-of-its-kind vaccine and intends to submit the patent application for this
vaccine in China in 2009. According to the March 27, 2009 report issued by
China's Ministry of Public Health, there were 41846 cases of hand, foot, and
mouth disease were reported in China from January 1, 2009 through mid-day on
March 26, 2009, among which 94 of which were severe cases. The reported cases
are mainly from young children under 5 years old (93.96% of total reported
cases). Among the confirmed cased after testing in laboratory, 75% of the cases
are caused by EV71. Additionally, hand, food and mouth disease incidence has
been reported in both developed countries and developing countries in the past,
indicating that it is a worldwide disease. Given the current severity of the
hand, foot and mouth disease outbreak in China and other countries, Sinovac
expects this new vaccine to become another flagship product in the
future.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sinovac
is processing the clinical application to import and commercialize LG Life
Sciences' hepatitis B vaccine, Euvax-B(TM), pursuant to the previously disclosed
exclusive distribution agreement. Sinovac expects to obtain approval from the
SFDA to conduct clinical trials in China in 2009 and intends leverage its
established sales and marketing organization to distribute Euvax- B in
China.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2009
Guidance</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For the
full year 2009, the Company expects sales of $55 million to $60 million, an
increase of about 20% over 2008 sales. The 2009 sales growth rate assumes that
(1) Healive will continue to generate a significant portion of Sinovac's sales
revenue. Sinovac expects to maintain its leading position in the private market,
while also actively exploring the opportunity to penetrate the public market
without adjusting the selling price; (2) Sinovac will focus on driving growth of
Bilive in the private market; and (3) Sinovac will increase sales of Anflu as
the Company continues to raise awareness of the benefits of receiving the flu
vaccination.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Conference
Call Details</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company will host a conference call on Thursday, April 9, 2009 at 9:00 a.m. ET
(9 p.m. China Standard Time) to review the Company's fourth quarter financial
results for the period ended December 31, 2008 and provide an update on recent
corporate developments. To access the conference call, please dial
1-877-407-4018 (USA) or 1-201-689-8471 (international). A replay of the call
will be available from 12:00 p.m. ET on April 9, 2009 until April 23, 2009. To
access the replay, please dial 1-877-660-6853 (USA) or 1-201-612-7415
(international) and reference the account number 3055 and the access code
319008. A live audio webcast of the call will also be available from the
Investors section on the corporate web site at http://www.sinovac.com . A
webcast replay can be accessed on the corporate website beginning April 9, 2009
and the replay will remain available for 30 days.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">About
Sinovac</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sinovac
Biotech Ltd. is a China-based biopharmaceutical company that focuses on the
research, development, manufacture and commercialization of vaccines that
protect against human infectious diseases. Sinovac's commercialized vaccines
include Healive&#174; (hepatitis A), Bilive&#174; </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(combined
hepatitis A and B), Anflu&#174; (influenza) and Panflu(TM) (H5N1). Sinovac is
currently developing a universal pandemic influenza vaccine and Japanese
encephalitis vaccine. Its wholly-owned subsidiary, Tangshan Yian is currently
conducting field trials for the first domestically-developed inactivated animal
rabies vaccines. Additional information about Sinovac is available on its
website, http://www.sinovac.com . To be added to our distribution list, please
email: info@sinovac.com.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Safe
Harbor Statement</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
announcement contains forward-looking statements. These statements are made
under the "safe harbor" provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be identified by words
or phrases such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. Among other things, the
business outlook and quotations from management in this press release contain
forward-looking statements. Statements that are not historical facts, including
statements about Sinovac's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and uncertainties.
A number of important factors could cause actual results to differ materially
from those contained in any forward- looking statement. Sinovac does not
undertake any obligation to update any forward-looking statement, except as
required under applicable law.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;For
more information, please contact:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;Helen
G. Yang</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;Sinovac
Biotech Ltd.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;Tel:&#160;&#160;&#160;+86-10-8289-0088
x9871</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;Fax:&#160;&#160;&#160;+86-10-6296-6910</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;Email:
info@sinovac.com</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;Investors:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;Stephanie
Carrington/Amy Glynn</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;The
Ruth Group</font></div>
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