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

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Issued and outstanding: nil

Common stock 42,854 40,305

Authorized: 100,000,000 shares at

par value of $0.001 each

Issued and outstanding: 42,853,528

(2007 - 40,305,028 )

Subscriptions received 39,295 9,170

Additional paid in capital 41,965,154 32,109,997

Accumulated other comprehensive income 4,199,660 1,956,456

Dedicated reserves 2,999,396 2,999,396

Accumulated deficit (2,215,264) (7,111,469)

Total stockholders' equity 47,031,095 30,003,855

Total liabilities and stockholders'

equity $ 79,089,467 $ 57,447,962

SINOVAC BIOTECH LTD.

Consolidated Statements of Cash Flows

Three Months and Six Months Ended June 30, 2008 and 2007

(Unaudited)

(Expressed in U.S. Dollars)

Three Months Ended June 30 Six Months Ended June 30

2008 2007 2008 2007

Cash flows from (used in)

operating activities

Net Income for the

period $3,336,249 $2,690,607 $4,896,205 $3,466,979

Adjustments to

reconcile net income to

net cash used by

operating activities:

- deferred income taxes (970,614) 66,336 (897,433) 118,071

- loss on disposal of

equipment -- 3,957 -- 3,957

- stock-based compensation 16,635 69,276 33,271 138,551

- provision for doubtful

debts 932,113 570,302 1,559,918 754,544

- inventory provision
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SOURCE Sinovac Biotech Ltd.
Copyright©2008 PR Newswire.
All rights reserved

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4. Sinovac to Present at the Brean Murray, Carret & Co. All-Cap All-China Conference and the Roth China Discovery Tour 2008
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