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Sinovac Reports Unaudited First Quarter 2011 Financial Results
Date:5/13/2011

does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Helen Yang/Chris LeeSinovac Biotech Ltd.Tel:  +86-10-8279-9871/9659Fax:  +86-10-6296-6910Email: ir@sinovac.comInvestors:Stephanie Carrington/Amy GlynnThe Ruth GroupTel:  +1-646-536-7017/7023Email: scarrington@theruthgroup.comaglynn@theruthgroup.comMediaJason RandoThe Ruth GroupTel:  +1-646-536-7025Email:  jrando@theruthgroup.comSINOVAC BIOTECH LTD.Incorporated in Antigua and BarbudaConsolidated Balance Sheets(Unaudited)(Expressed in U.S. Dollars)March 31, 2011December 31, 2010ASSETSCurrent assets  Cash and cash equivalents

$

90,976,299

$

101,585,490  Short-term investments1,526,6941,512,447  Accounts receivable – net 22,533,26822,370,296  Inventories16,152,07514,859,411  Due from related party-3,397,522  Prepaid expenses and deposits905,174887,187  Deferred tax assets  2,430,0032,682,069Total current assets134,523,513147,294,422Property, plant and equipment64,980,97664,036,228Long-term inventories1,214,77177,659Long-term prepaid expenses504,356517,957Deposits for acquisition of equipment437,493576,232Deferred tax assets477,742507,062Licenses and permits1,230,9531,348,364Total assets$

203,369,804$214,357,924LIABILITIES AND EQUITYCurrent liabilities  Loans payable

$

10,534,190

$

10,435,887  Accounts payable and accrued liabilities19,613,39822,091,190Income tax payable1,602,881958,411Deferred revenue9,495,4729,707,688  Deferred tax liability266,0161,005,186  Deferred research grants1,500,6521,559,589Total current liabilities43,012,60945,757,951Deferred government grants2,419,0772,464,565Loans payable10,152,51710,057,775Lo
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