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Sinovac Reports Unaudited Second Quarter 2009 Financial Results
Date:8/19/2009

BEIJING, Aug. 19 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. (NYSE Amex: SVA), a leading developer and provider of vaccines in China, announced today its unaudited financial results for the three-month and six- month periods ended June 30, 2009.

    Financial Highlights

    -- Sales for the quarter increased 21% to $20.0 million
    -- Sales for the six-month period increased 5% to $26.6 million
    -- Operating income for the quarter rose 52% to $10.7 million
    -- Operating income for the six-month period increased 11% to
       $11.3 million.
    -- Net income attributable to the shareholders increased 74% to
       $5.8 million in the second quarter, with diluted EPS of $0.14
    -- Cash and cash equivalents at June 30, 2009 was $46.7 million.

    Business Highlights
    -- In June, Sinovac received the first order in China to supply its
       pandemic influenza A (H1N1) vaccine to the Beijing government. The
       initial order consisted of vaccines for 2 million people; delivery is
       expected by the end of September with additional orders expected to
       commence in October.

    -- In July, Sinovac began the clinical trial of its H1N1 influenza
       vaccine, enrolling 1,614 volunteers, including 101 elders, 706 adults,
       404 juveniles and 403 children. The trial began on July 21, 2009 and
       all of the volunteers received their first shot of the vaccine through
       July 25, 2009. During the three-day observation period, none of the
       volunteers experienced a severe adverse reaction.  Between August 12
       and 15, 2009, the volunteers received the second shot of the vaccine.
       Preliminary tests on the H1N1 influenza vaccine have indicated that the
       vaccine is safe and reliable in humans.

Mr. Weidong Yin, Chairman, President a
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SOURCE Sinovac Biotech Ltd.
Copyright©2009 PR Newswire.
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