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Sinovac Reports Record Second Quarter 2008 Unaudited Financial Results
Date:8/13/2008

-- 87,869 -- 87,869

- depreciation of

property, plant and

equipment, and

amortization of

licenses 388,460 357,051 780,563 720,191

- research and

development expenditures

qualified for government

grant (126,829) (374,825) (130,848) (367,411)

- minority interests 1,545,764 1,268,621 2,284,619 1,578,536

Change in other assets

and liabilities

- accounts receivable (9,218,834)(3,904,173) (13,369,079)(5,717,338)

- inventories (865,187)(1,539,537) (2,314,630)(2,075,824)

- prepaid expenses and

deposits (403,304) (374,308) (84,290) (660,379)

- accounts payable and

accrued liabilities 3,668,617 1,081,130 4,142,407 (93,796)

Net cash provided by

operating activities (1,696,930) 2,306 (3,099,297)(2,046,050)

Cash flows from (used in)

financing activities

Loan repayment -- -- -- (517,471)

Proceeds from issuance

of common stock 1,966 52,975 9,815,265 165,631

Payment to release

shares in escrow -- -- -- 400,000

Proceeds from shares

subscribed 39,295 15,720 39,295 15,720

Dividends paid to

minority interest

shareholder

in Sinovac Beijing -- -- (2,947,877) (827,229)

Government grant

received 70,695 2,962,522 70,695 2,962,522

Due to related parties -- (386,977) -- --

Net cash provided by

financing activities 119,956 2,644,240 6,977,378 2,199,173

Cash flows from (used in)

investing activities


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SOURCE Sinovac Biotech Ltd.
Copyright©2008 PR Newswire.
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