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Sinovac Reports Unaudited Second Quarter 2011 Financial Results
Date:8/12/2011

582,40945,757,951Deferred government grants2,381,6802,464,565Loans payable12,193,62610,057,775Long-term payable for acquisition of assets 3,539,9414,842,509Deferred revenue 7,656,1803,478,629Total long term liabilities25,771,42720,843,478Total liabilities59,353,83666,601,429Commitments and contingencies EQUITYPreferred stock-  Authorized 50,000,000 shares at par value of $0.001 each  Issued and outstanding: nilCommon stock54,64154,306  Authorized: 100,000,000 shares at par value of $0.001 each  Issued and outstanding:  54,641,304 (2010 –54,305,961 )Additional paid-in capital104,797,508104,152,182Accumulated other comprehensive income8,583,8566,883,834Statutory surplus reserves 11,473,11011,473,110Retained earnings 2,404,7693,876,084Total stockholders' equity127,313,884126,439,516Non-controlling interests15,450,92821,316,979Total equity142,764,812147,756,495Total liabilities and equity$202,118,648$214,357,924SINOVAC BIOTECH LTD.Consolidated Statements of Income (Loss) and Comprehensive Income (Loss)Three Months and Six Months Ended June 30, 2011 and 2010(Unaudited)(Expressed in U.S. Dollars)Three months endedSix months endedJune 30June 302011201020112010Sales$

15,656,099

$

10,263,706

$

20,336,691

$

14,707,605Costofsales - (exclusive of depreciation of land-use rights and amortization of licenses and permits of $142,123 (2010 - $104,832) for three months and  $266,104 (2010 -$209,625) for six months4,877,9631,775,1776,463,9802,658,652Gross profit10,778,1368,488,52913,872,71112,048,953Selling, general and administrative expenses4,978,9733,992,4059,086,3057,098,772Researchanddevelopmentexpenses- net of $142,041 (2010 - $(36,502)) for three months and $215,431 (2010 - $(18,948)) for six months in government research grants 2,275,6391,704,4784,378,0202,78
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SOURCE Sinovac Biotech Ltd.
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