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Sinovac Reports Unaudited First Quarter 2009 Financial Results
Date:5/15/2009

alitis vaccine, and human rabies vaccine. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal rabies vaccines.

Safe Harbor Statement

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.



SINOVAC BIOTECH LTD.
Incorporated in Antigua and Barbuda
Consolidated Balance Sheets
March 31, 2009
Unaudited
(Expressed in U.S. Dollars)

                                            March 31, 2009  December 31, 2008
    ASSETS

    Current assets
    Cash and cash equivalents                  $23,308,879       $32,894,102
    Accounts receivable - net                   21,105,032        19,486,596
    Inventories                                  9,770,267         7,428,865
    Income tax refundable                        1,233,824           348,018
    Prepaid expenses and deposits                  903,454           933,297
    Deferred tax assets                          1,022,078         1,189,831
    Total current assets                        57,
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SOURCE  Sinovac Biotech Ltd.
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