<SEC-DOCUMENT>0001104659-25-066785.txt : 20250710
<SEC-HEADER>0001104659-25-066785.hdr.sgml : 20250710
<ACCEPTANCE-DATETIME>20250709215518
ACCESSION NUMBER:		0001104659-25-066785
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20250709
FILED AS OF DATE:		20250710
DATE AS OF CHANGE:		20250709

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SINOVAC BIOTECH LTD
		CENTRAL INDEX KEY:			0001084201
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				000000000
		STATE OF INCORPORATION:			B9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32371
		FILM NUMBER:		251114705

	BUSINESS ADDRESS:	
		STREET 1:		NO. 39 SHANGDI XI ROAD
		STREET 2:		HAIDIAN DISTRICT
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100085
		BUSINESS PHONE:		86-10-82890088

	MAIL ADDRESS:	
		STREET 1:		NO. 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>
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<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2520228d1_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of July&nbsp;2025</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number: 001-32371</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SINOVAC BIOTECH LTD.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">No.&nbsp;39 Shangdi Xi Rd, Haidian District</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Beijing 100085, People&rsquo;s Republic of China</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will file annual
reports under cover of Form&nbsp;20-F or Form&nbsp;40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;20-F&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Form&nbsp;40-F&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SINOVAC BIOTECH LTD.</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Chiang Li</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dr.&nbsp;Chiang Li</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board of Directors</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Date: July&nbsp;</FONT>9, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit&nbsp;Index</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 10%"><A HREF="tm2520228d1_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit
    99.1</FONT></A></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 88%"><A HREF="tm2520228d1_ex99-1.htm">Press Release &ndash; SINOVAC Board of Directors Strongly Denounces Deceptive and Illegal Claims by SAIF and the Imposter Former Board</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2520228d1_ex99-2.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;99.2</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="tm2520228d1_ex99-2.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press Release &ndash; SINOVAC Board of Directors Provides Update on Status of US$55.00 Special Cash Dividend Payment</FONT></A></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<FILENAME>tm2520228d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SINOVAC Board of Directors Strongly Denounces
Deceptive and Illegal Claims by SAIF and the Imposter Former Board</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Special Meeting was validly adjourned until
the appropriate court can make a final decision on the validity of the PIPE shares</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>SAIF&rsquo;s &ldquo;announcement&rdquo; about
voting results demonstrates blatant disregard for the law and the Company&rsquo;s bylaws and a repeated pattern of self-serving and unlawful
actions by the Imposter Former Board</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Current Board remains the only valid board
of directors of the Company and will continue to govern SINOVAC</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">BEIJING &ndash; July&nbsp;10, 2025 &ndash; The Board of Directors
of SINOVAC Biotech Ltd. (NASDAQ: SVA) (&ldquo;SINOVAC&rdquo; or the &ldquo;Company&rdquo;), a leading biopharmaceutical company in China,
categorically rejects the recent deceptive and illegal claims by SAIF and the Imposter Former Board that it purported to &ldquo;reconvene&rdquo;
the adjourned Special Meeting of Shareholders (the &ldquo;Special Meeting&rdquo;) and announced sham voting results of the shareholder
proposals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At the July&nbsp;8, 2025 Special Meeting, SINOVAC Chairman Chiang
Li validly <U>adjourned the meeting</U>, to preserve the integrity of the Special Meeting and protect shareholder interests, pending
the resolution of litigation in Antigua related to the validity of the 11.8 million shares purportedly issued following an invalid private
investment in public equity (&ldquo;PIPE&rdquo;) to Advantech/Prime and Vivo Capital (together known as the &ldquo;Dissenting Investor
Group&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SINOVAC shareholders should ignore SAIF&rsquo;s lies. SAIF and
the Imposter Former Board did NOT have the authority or any legal basis to &ldquo;reconvene&rdquo; the Special Meeting following the
valid adjournment. SAIF&rsquo;s self-declaration of a final tally of shareholder votes was a complete sham. SINOVAC is evaluating its
legal remedies with respect to the deceptive and unlawful conduct of SAIF and the Imposter Former Board, including with authorities in
Antigua and the United States.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">William P. Fiske, Head of M&amp;A and Contested Situations at Georgeson,
SINOVAC&rsquo;s proxy solicitor, stated, &ldquo;At the time of the Special Meeting, according to our preliminary voting tallies, the
Company&rsquo;s White Proxy Card secured overwhelming support from valid shareholders for the current SINOVAC Board. Had the injunction
granted by the Antigua Court not been temporarily stayed, the shareholders would have voted in favor of the current SINOVAC Board.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SAIF and the Gold Proxy Card secured little support outside of the
same incumbent group that has propped up the Imposter Former Board to seize control of SINOVAC and destroy value for all valid common
shareholders &ndash; just as they did during the seven years that they held SINOVAC hostage. The Imposter Former Board&rsquo;s refusal
to acknowledge the lawful adjournment of the Special Meeting and their fabrication of the meeting&rsquo;s outcome are wholly illegal,
invalid, and reckless.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The rightful SINOVAC Board remains in place and will continue to
govern the Company. </B>The Board has a duty to implement the UK Privy Council&rsquo;s judgment and order, which includes resolving the
question of the validity of the PIPE shares. The Board will continue to fight on behalf of all SINOVAC shareholders and remains committed
to its mission of restoring fairness, delivering value and protecting the rights of all valid shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About SINOVAC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sinovac Biotech Ltd.&#8239;(SINOVAC) is a&#8239;China-based biopharmaceutical
company that focuses on the R&amp;D, manufacturing, and commercialization of vaccines that protect against human infectious diseases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SINOVAC's product portfolio includes vaccines against COVID-19, enterovirus
71 (EV71) infected Hand-Foot-Mouth disease (HFMD), hepatitis A, varicella, influenza, poliomyelitis, pneumococcal disease,&nbsp;etc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The COVID-19 vaccine, CoronaVac&reg;, has been approved for use in
more than 60 countries and regions worldwide.&#8239;The hepatitis A vaccine, Healive&reg;, passed WHO prequalification requirements in
2017.&#8239;The EV71 vaccine,&nbsp;Inlive&reg;, is an innovative vaccine under &quot;Category 1 Preventative Biological Products&quot;
and commercialized in&#8239;China&#8239;in 2016.&#8239;In 2022, SINOVAC's Sabin-strain inactivated polio vaccine (sIPV) and varicella
vaccine were prequalified by the WHO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SINOVAC was the first company to be granted approval for its H1N1
influenza vaccine Panflu.1&reg;, which has supplied the Chinese government's vaccination campaign and stockpiling program.&#8239;The
Company is also the only supplier of the H5N1 pandemic influenza vaccine, Panflu&reg;, to the Chinese government stockpiling program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SINOVAC continually dedicates itself to new vaccine R&amp;D, with
more combination vaccine products in its pipeline, and constantly explores global market opportunities.&#8239;SINOVAC plans to conduct
more extensive and in-depth trade and cooperation with additional countries, and business and industry organizations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Important Additional Information and Where to Find It</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with SINOVAC&rsquo;s Special Meeting, SINOVAC has filed
with the&nbsp;U.S. Securities and Exchange Commission&nbsp;(&ldquo;SEC&rdquo;) and mailed to shareholders of record entitled to vote
at the Special Meeting a definitive proxy statement and other documents, including a WHITE proxy card.&nbsp;SHAREHOLDERS ARE ENCOURAGED
TO READ THE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS WHEN FILED WITH THE SEC AND WHEN THEY BECOME AVAILABLE BECAUSE THOSE DOCUMENTS
WILL CONTAIN IMPORTANT INFORMATION.&nbsp;Investors and other interested parties will be able to obtain the documents free of charge at
the SEC&rsquo;s website,&#8239;<U>www.sec.gov</U>, or from SINOVAC at its website: <U>https://www.sinovac.com/en-us/Investors/sec_filings</U>.&nbsp;You
may also obtain copies of SINOVAC&rsquo;s definitive proxy statement and other documents, free of charge, by contacting SINOVAC&rsquo;s
Investor Relations Department at <U>ir@sinovac.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Safe Harbor Statement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This announcement contains forward-looking statements within the meaning
of Section&nbsp;21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by terminology such as &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;expect,&rdquo;
 &ldquo;anticipate,&rdquo; &ldquo;aim,&rdquo; &ldquo;estimate,&rdquo; &ldquo;intend,&rdquo; &ldquo;plan,&rdquo; &ldquo;believe,&rdquo;
 &ldquo;potential,&rdquo; &ldquo;continue,&rdquo; &ldquo;is/are likely to&rdquo; or other similar expressions. Such statements are based
upon current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties
and other factors, all of which are difficult to predict and many of which are beyond the Company&rsquo;s or Board&rsquo;s control, which
may cause actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information
regarding these and other risks, uncertainties or factors is included in the Company&rsquo;s filings with the U.S. Securities and Exchange
Commission. The Company and Board do not undertake any obligation to update any forward-looking statement as a result of new information,
future events or otherwise, except as required under law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Contacts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investor and Media Contact</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">FGS Global&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Sinovac@fgsglobal.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>tm2520228d1_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SINOVAC Board of Directors Provides Update
on Status of US$55.00 Special Cash Dividend Payment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Special cash dividend is being paid to valid
common shareholders who owned SINOVAC as of the close of business on July&nbsp;7, 2025</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Board will continue to prioritize dividend
distributions according to its previously announced policy</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>For
any questions about the dividend payment process, shareholders should contact Dividend Information Agent D.F. King at </I></FONT><U>sva@dfking.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">BEIJING, July&nbsp;10, 2025 &ndash; The Board of Directors of SINOVAC
Biotech Ltd. (NASDAQ: SVA) (&ldquo;<B>SINOVAC</B>&rdquo; or the &ldquo;<B>Company</B>&rdquo;), a leading provider of biopharmaceutical
products in China, today announced that the previously declared US$55.00 per common share special cash dividend is in the process of
being paid to valid shareholders who owned SINOVAC shares as of the close of business on July&nbsp;7, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On July&nbsp;8, 2025, the Paying Agent and the Transfer Agent confirmed
valid SINOVAC shareholders. Those shareholders are scheduled to receive the special dividend payment as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><B>For
                                            SINOVAC shareholders that are &ldquo;record holders&rdquo; listed on the Transfer Agent&rsquo;s
                                            share register,</B> dividend checks have been prepared and will be sent via FedEx or UPS
                                            on July&nbsp;9, 2025, for overnight delivery if the amount to be paid to the shareholder
                                            is under US$100 million (delivery may take longer than overnight if being sent to an address
                                            outside the United States). If the amount to be paid to a record holder is US$100 million
                                            or more, the amount will be sent via wire transfer, and the shareholder should contact the
                                            Paying Agent or Dividend Information Agent to arrange wire instructions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><B>For
                                            SINOVAC shareholders whose shares are held through a broker,</B> their broker must fill out
                                            a &ldquo;broker letter&rdquo; and deliver it to the Paying Agent in order for the dividend
                                            payment to be made to the broker.&nbsp;The form of broker letter was posted on the DTC website
                                            and provided to each broker by the Dividend Information Agent last week.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><B>For
                                            brokers who have already provided the broker letter to the Paying Agent</B>, the dividend
                                            payment will be wired to the broker starting July&nbsp;9, 2025.&nbsp;The Company has been
                                            advised that once a broker receives the wire, the beneficial owner shareholder account is
                                            typically credited by the broker that same day, but it could be the next business day if
                                            the wire is received by the broker late in the day.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ADDITIONAL INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">If you have
questions about the dividend payment process, please contact the Dividend Information Agent: D.F. King&nbsp;&amp; Co.,&nbsp;Inc., 28
Liberty Street, 53rd Floor, New York, NY 10005, Attention: Sinovac Biotech Ltd. Special Dividend; email: </FONT><U>sva@dfking.com</U>,
with a subject line of Sinovac Biotech Ltd, Special Dividend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">For more
details on the misdeeds and shareholder harm caused by the Imposter Former Board and Dissenting Investor Group, visit our website </FONT><U>www.votesinovac.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">If you have
questions about how your vote can be counted, please contact our proxy solicitor, Georgeson LLC, toll free at (844) 568-1506 in the U.S.
and (646) 543-1968 outside the U.S. or via email at </FONT><U>SinovacSpecialMeeting@georgeson.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About SINOVAC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sinovac Biotech Ltd. (SINOVAC) is a China-based biopharmaceutical
company that focuses on the R&amp;D, manufacturing, and commercialization of vaccines that protect against human infectious diseases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SINOVAC's product portfolio includes vaccines against COVID-19, enterovirus
71 (EV71) infected Hand-Foot-Mouth disease (HFMD), hepatitis A, varicella, influenza, poliomyelitis, pneumococcal disease,&nbsp;etc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The COVID-19 vaccine, CoronaVac&reg;, has been approved for use in
more than 60 countries and regions worldwide. The hepatitis A vaccine, Healive&reg;, passed WHO prequalification requirements in 2017.
The EV71 vaccine,&nbsp;Inlive&reg;, is an innovative vaccine under &quot;Category 1 Preventative Biological Products&quot; and commercialized
in China in 2016. In 2022, SINOVAC's Sabin-strain inactivated polio vaccine (sIPV) and varicella vaccine were prequalified by the WHO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SINOVAC was the first company to be granted approval for its H1N1
influenza vaccine Panflu.1&reg;, which has supplied the Chinese government's vaccination campaign and stockpiling program. The Company
is also the only supplier of the H5N1 pandemic influenza vaccine, Panflu&reg;, to the Chinese government stockpiling program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SINOVAC continually dedicates itself to new vaccine R&amp;D, with
more combination vaccine products in its pipeline, and constantly explores global market opportunities. SINOVAC plans to conduct more
extensive and in-depth trade and cooperation with additional countries, and business and industry organizations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Important Additional Information and Where to Find It</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">In connection
with SINOVAC&rsquo;s Special Meeting, SINOVAC has filed with the U.S. Securities and Exchange Commission (&ldquo;SEC&rdquo;) and mailed
to shareholders of record entitled to vote at the Special Meeting a definitive proxy statement and other documents, including a WHITE
proxy card. SHAREHOLDERS ARE ENCOURAGED TO READ THE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS WHEN FILED WITH THE SEC AND WHEN
THEY BECOME AVAILABLE BECAUSE THOSE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Investors and other interested parties will be able
to obtain the documents free of charge at the SEC&rsquo;s website,&#8239;</FONT><U>www.sec.gov</U>, or from SINOVAC at its website: <U>https://www.sinovac.com/en-us/Investors/sec_filings</U>.
You may also obtain copies of SINOVAC&rsquo;s definitive proxy statement and other documents, free of charge, by contacting SINOVAC&rsquo;s
Investor Relations Department at <U>ir@sinovac.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Safe Harbor Statement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This announcement contains forward-looking statements within the meaning
of Section&nbsp;21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by terminology such as &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;expect,&rdquo;
 &ldquo;anticipate,&rdquo; &ldquo;aim,&rdquo; &ldquo;estimate,&rdquo; &ldquo;intend,&rdquo; &ldquo;plan,&rdquo; &ldquo;believe,&rdquo;
 &ldquo;potential,&rdquo; &ldquo;continue,&rdquo; &ldquo;is/are likely to&rdquo; or other similar expressions. Such statements are based
upon current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties
and other factors, all of which are difficult to predict and many of which are beyond the Company&rsquo;s or Board&rsquo;s control, which
may cause actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information
regarding these and other risks, uncertainties or factors is included in the Company&rsquo;s filings with the U.S. Securities and Exchange
Commission. The Company and Board do not undertake any obligation to update any forward-looking statement as a result of new information,
future events or otherwise, except as required under law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Contacts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investor and Media Contact</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">FGS Global<BR>
</FONT><U>Sinovac@fgsglobal.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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