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

t income and

other income

(expenses) (141,491) 196,626 (95,141) 260,650

Income before income

taxes and minority

interest 6,490,503 4,791,289 9,507,830 6,219,530

Income taxes recovery

(expense)

- Current (2,579,104) (765,725) (3,224,439) (1,055,944)

- Deferred 970,614 (66,336) 897,433 (118,071)

Income before minority

interest 4,882,013 3,959,228 7,180,824 5,045,515

Minority interest

share of earnings 1,545,764 1,268,621 2,284,619 1,578,536

Net income 3,336,249 2,690,607 4,896,205 3,466,979

Other comprehensive

income

Foreign currency

translation adjustment 956,180 155,503 2,243,204 289,632

Comprehensive income $4,292,429 $2,975,174 $7,139,409 $3,931,136

Earnings per share

- basic $0.08 $0.07 $0.12 $0.09

- diluted $0.08 $0.07 $0.12 $0.09

Weighted average

number of shares

of common stock

outstanding

- Basic 42,851,228 38,745,171 41,983,709 38,734,577

- Diluted 43,210,296 39,046,811 42,351,756 39,012,980

SINOVAC BIOTECH LTD.

Consolidated Balance Sheets

(Unaudited)

(Expressed in U.S. Dollars)

June 30, 2008 December 31, 2007

ASSETS

Current assets

Cash and cash equivalents $ 18,820,271 $ 17,071,497

Accounts receivable - net 29,931,302 16,983,892

Inventories 6,369,339 3,745,957

Prepaid expense
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SOURCE Sinovac Biotech Ltd.
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