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

tors 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.

Helen Yang/Chris LeeSinovac Biotech Ltd.Tel:  +86-10-8279-9871/9659Fax:  +86-10-6296-6910Email: ir@sinovac.comInvestors:Stephanie CarringtonThe Ruth GroupTel:  +1-646-536-7017Email: scarrington@theruthgroup.comMedia:Victoria AguiarThe Ruth GroupTel:  +1-646-536-7013Email:  vaguiar@theruthgroup.comSINOVAC BIOTECH LTD.Incorporated in Antigua and  BarbudaConsolidated Balance Sheets(Unaudited)(Expressed in U.S. Dollars)June 30, 2011December 31, 2010ASSETSCurrent assets  Cash and cash equivalents

$

70,287,280

$

101,585,490  Short-term investments 22,431,9311,512,447  Accounts receivable – net 18,483,21622,370,296  Inventories 16,096,70614,541,554  Due from related party -3,397,522  Prepaid expenses and deposits1,159,484887,187  Deferred tax assets  1,164,1562,682,069Total current assets129,622,773146,976,565Property, plant and equipment67,500,62564,036,228Long-term inventories 1,843,109395,516Long-term prepaid expenses 477,766517,957Prepayment for acquisition of equipment697,952576,232Deferred tax assets427,052507,062Licenses and permits1,549,3711,348,364Total assets$

202,118,648$214,357,924LIABILITIES AND EQUITYCurrent liabilities  Loans payable

$

9,282,178

$

10,435,887  Accounts payable and accrued liabilities 18,850,19422,091,190Income tax payable 1,219,242958,411Deferred revenue 2,470,7779,707,688  Deferred tax liability 375,2721,005,186  Deferred research grants1,384,7461,559,589Total current liabilities33,
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SOURCE Sinovac Biotech Ltd.
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