# EDGAR Filing Document

**Accession Number:** 0001084201
**File Stem:** 0001104659-25-063805
**Filing Date:** 2025-6
**Character Count:** 32521
**Document Hash:** 48b3bbb371edb033267e1dc38ecf0d49
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-063805.hdr.sgml**: 20250630

**ACCESSION NUMBER**: 0001104659-25-063805

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250630

**DATE AS OF CHANGE**: 20250630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SINOVAC BIOTECH LTD
- **CENTRAL INDEX KEY:** 0001084201
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** B9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32371
- **FILM NUMBER:** 251088720

**BUSINESS ADDRESS:**
- **STREET 1:** NO. 39 SHANGDI XI ROAD
- **STREET 2:** HAIDIAN DISTRICT
- **CITY:** BEIJING
- **STATE:** F4
- **ZIP:** 100085
- **BUSINESS PHONE:** 86-10-82890088

**MAIL ADDRESS:**
- **STREET 1:** NO. 39 SHANGDI XI ROAD
- **STREET 2:** HAIDIAN DISTRICT
- **CITY:** BEIJING
- **STATE:** F4
- **ZIP:** 100085

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NET FORCE SYSTEMS INC
- **DATE OF NAME CHANGE:** 19991110

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER**

**PURSUANT TO RULE 13a-16 OR 15d-16 UNDER**

**THE SECURITIES EXCHANGE ACT OF 1934**

For the month of June 2025

Commission File Number: 001-32371

SINOVAC BIOTECH LTD.

No. 39 Shangdi Xi Rd, Haidian District

Beijing 100085, People's Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ⌧ Form 40-F ◻

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
| SINOVAC BIOTECH LTD. | SINOVAC BIOTECH LTD. |
| By: | /s/ Chiang Li |
| Name: | Dr. Chiang Li |
| Title: | Chairman of the Board of Directors |

---

Date: June 30, 2025

**Exhibit Index**

---

| | |
|:---|:---|
| [Exhibit 99.1](tm2519395d1_ex99-1.htm) | [Press Release – SINOVAC Board of Directors Urges Shareholders to Vote the WHITE Proxy Card "AGAINST" the Misguided Proposals to Remove SINOVAC's Current Board](tm2519395d1_ex99-1.htm) |
| [Exhibit 99.2](tm2519395d1_ex99-2.htm) | [Press Release – SINOVAC Board of Directors Prevails Against Advantech/Prime's Lawsuit in Hong Kong](tm2519395d1_ex99-2.htm) |
| [Exhibit 99.3](tm2519395d1_ex99-3.htm) | [Press Release – SINOVAC Board of Directors Prevails Against Advantech/Prime's New York Lawsuit](tm2519395d1_ex99-3.htm) |

---

## Exhibit 99.1

**Exhibit 99.1**

**SINOVAC Board of Directors Urges Shareholders to Vote the WHITE Proxy Card<br> "AGAINST" the Misguided Proposals to Remove SINOVAC's Current Board**

*Reaffirms Commitment to Declaring Dividends and New Dividend Policy*

*Underscores Pledge to Work with NASDAQ Toward Resuming Trading*

*Continues to Diligently Defend Against the Dissenting Investor Group's Multi-Jurisdictional Legal <br> Tactics to Block the US$55.00 Per Common Share Cash Dividend*

BEIJING, June 30, 2025 – The Board of Directors of SINOVAC Biotech Ltd. (NASDAQ: SVA) ("SINOVAC" or the "Company"), a leading provider of biopharmaceutical products in China, today sent a letter to shareholders ahead of the Special Meeting of Shareholders to be held on Wednesday, July 9, 2025 at 8:00 a.m. China Standard Time (Tuesday, July 8, 2025 at 8:00 p.m. Atlantic Standard Time).

The full text of the letter follows:

Dear SINOVAC Shareholder,

It is time to act. Your vote at the upcoming Special Meeting of Shareholders will shape SINOVAC's future.

SAIF has called this Special Meeting to reconstitute a remnant of the Former Board that the <u>UK Privy Council</u> deemed to be "Imposters" in its final, non-appealable January 2025 ruling. Proposing this slate (the "Reconstituted Imposter Former Board Slate") is the latest scheme by Advantech/Prime Success ("Advantech/Prime"), Vivo Capital (together, the "Dissenting Investor Group"), and other members of the Former Management Buyout Consortium to seize control of SINOVAC at the expense of common shareholders.

**While your current SINOVAC Board has been delivering on its promises to restore fairness and deliver value to all SINOVAC shareholders, the Dissenting Investor Group has been continuing its attempt to derail our progress through misleading rhetoric, baseless claims and frivolous legal actions. Their self-serving strategies pose a direct threat to the value of your investment and the future of SINOVAC. The facts speak for themselves:**

**COMMITMENT TO DECLARING DIVIDENDS**

Since it was installed by the Privy Council ruling, and in accordance with Antiguan law, in just four months, the current SINOVAC Board has:

&nbsp;&nbsp;&nbsp;&nbsp;· Declared a US$55.00 per common share special cash dividend due to be paid on July 7, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;· Announced plans for an additional US$11.00 per common share cash dividend, contingent on the cancellation of the unauthorized PIPE
shares acquired by Advantech/Prime and Vivo Capital.

&nbsp;&nbsp;&nbsp;&nbsp;· Decided to declare a second special cash dividend of US$19.00 per common share, with the potential of an additional US$3.73 per common
share if the PIPE shares are cancelled.

&nbsp;&nbsp;&nbsp;&nbsp;· Adopted a policy to issue regular dividends out of surplus cash, with potential future distributions of US$20.00 - US$50.00 per common
share.

**<u>IN CONTRAST, the Imposter Former Board failed to declare any dividends to common shareholders during the seven years it presided over SINOVAC, while draining cash from subsidiaries for itself to the exclusion of common shareholders.</u>** Today, the Imposter Former Board blames litigation during 2018-2024 as the reason it couldn't pay dividends, but ironically, the litigation it tried to use as an excuse did not prevent the Imposter Former Board's cronies from pocketing more than US$2 billion in dividends from our operating subsidiary. In a statement from the Company's 2023 20-F filed in April 2024, the Board stated it did not "have any present plan to pay any cash dividends on Sinovac Antigua's shares in the foreseeable future." The Imposter Former Board did not say the non-dividend policy was because of litigation. However, the onslaught of baseless, multi-jurisdictional lawfare by the same bad actors did not prevent the current SINOVAC Board from declaring the US$55.00 per common share cash dividend. Their lawsuits, intended to interfere with the dividend payout to all valid shareholders, have been defeated in New York and Hong Kong.

The Reconstituted Imposter Former Board Slate, while paying lip service to endorsing our US$55.00 per common share cash dividend, haven't yet supported the additional dividends we've declared or our new dividend policy. Their sudden interest in dividends is nothing more than a hollow promise. We believe they would seek to privatize the Company again at below market prices and deprive shareholders of their rightful cash distributions.

Shareholders should be asking the Reconstituted Imposter Former Board Slate this question: will you publicly support the current SINOVAC Board's plans for additional cash dividends and the dividend policy it recently adopted?

**RESUMPTION OF GOOD RELATIONS WITH NASDAQ AND REGULATORS**

The current SINOVAC Board has done significant work to unwind the seven years of compliance shortcomings that occurred under the Imposter Former Board, which directly led to the NASDAQ trading halt. This work includes:

&nbsp;&nbsp;&nbsp;&nbsp;· Engaging senior NASDAQ officials to regain compliance, resume trading and support the US$55.00 per share special cash dividend.

&nbsp;&nbsp;&nbsp;&nbsp;· Launching a formal exploration of a future listing on the Stock Exchange of Hong Kong to promote liquidity, mitigate geopolitical
risk and maximize shareholder value.

&nbsp;&nbsp;&nbsp;&nbsp;· Tasking its Audit Committee with conducting a process to evaluate and select a new independent registered public accounting firm and
end the revolving door of auditing firms under the Imposter Former Board.

**<u>IN CONTRAST, the Reconstituted Imposter Former Board Slate is responsible for the very issues they now claim they'll resolve</u>**. Their unlawful actions triggered the 2019 NASDAQ trading halt and forced the resignation of Grant Thornton, SINOVAC's former auditor, due to sham transactions.

**PROTECTING VALID SINOVAC SHAREHOLDERS AND PAYING DIVIDENDS IN THE FACE OF CONTINUOUS LAWFARE WAGED BY ADVANTECH/PRIME AND VIVO CAPITAL**

The current SINOVAC Board is committed to fighting the self-serving, continuous and wasteful lawfare from the Dissenting Investor Group, which includes filing suits in New York and Hong Kong, and seeking injunctions designed to interfere with the payment of the US$55.00 special cash dividend to all common shareholders.

In response to this self-serving lawfare strategy, the current SINOVAC Board has:

&nbsp;&nbsp;&nbsp;&nbsp;· Vigorously defended
 our position and prevailed against Advantech/Prime in <u>New York</u> and <u>Hong Kong</u>.

&nbsp;&nbsp;&nbsp;&nbsp;· Committed to fighting to protect valid shareholders and redistribute funds that were improperly allocated to the invalid PIPE shareholders.

**<u>IN CONTRAST, the Dissenting Investor Group continues to talk out of both sides of their mouth – pretending they are in favor of dividend payments while filing intentionally vague lawsuits intended to deprive common shareholders of rightful dividend payments</u>**. The Reconstituted Imposter Former Board Slate would allow these actions to continue unchecked.

**STRATEGIC REALIGNMENT FOR SHAREHOLDER VALUE CREATION**

In addition to dividends, the current SINOVAC Board is taking the necessary steps to correct the injustices of the past, position the Company for a brighter future and enhance governance by:

&nbsp;&nbsp;&nbsp;&nbsp;· Accelerating the resumption of trading on NASDAQ and exploring future listings on other exchanges.

&nbsp;&nbsp;&nbsp;&nbsp;· Planning an annual meeting of shareholders in the second quarter of 2026 to nominate a full slate of highly-qualified and independent
directors.

&nbsp;&nbsp;&nbsp;&nbsp;· Executing a global growth strategy to expand SINOVAC's business in China and globally, leveraging our position as a leading
provider of vaccine products.

**<u>IN CONTRAST, during the seven years it presided over the Company, the Imposter Former Board demonstrated a pattern of self-dealing that allowed Advantech/Prime, Vivo Capital and their cronies to loot billions of dollars from SINOVAC while common SINOVAC shareholders received nothing</u>**. During that time, the Imposter Former Board approved an invalid PIPE transaction, which is in the process of being unwound, gifted Advantech/Prime and Vivo Capital shares of SINOVAC's operating subsidiary, granted shares to select minority shareholders, doled out excessive bonuses to the SINOVAC management team, and enabled non-arms length investments by SINOVAC of nearly US$100 million in Vivo Capital Funds. Shareholders should ask themselves: do you think the Imposter Former Board Slate would really have all SINOVAC shareholders' best interests in mind? We doubt it.

**YOUR VOTE IS IMPORTANT**

The Special Meeting of Shareholders (the "Special Meeting") will be held on Wednesday, July 9, 2025 at 8:00 a.m. China Standard Time (Tuesday, July 8, 2025 at 8:00 p.m. Atlantic Standard Time).

Your vote determines SINOVAC's future, receipt of your dividend payments and the long-term value of your investment. The facts are clear, and so is the choice.

We urge you to vote on the WHITE proxy card:

&nbsp;&nbsp;&nbsp;&nbsp;· "**AGAINST**" Proposal 1 to remove the current SINOVAC Board.

&nbsp;&nbsp;&nbsp;&nbsp;· "**AGAINST**" Proposal 2 to appoint the Reconstituted Imposter Former Board Slate.

**DISCARD** any items you received asking you to vote for the Reconstituted Imposter Former Board Slate. If you have already voted for the Reconstituted Imposter Former Board Slate, you can subsequently revoke it by using the WHITE proxy card or WHITE voting instruction form to vote. Only your latest-dated vote will count!

**THANK YOU**

We thank you for your continued confidence and support as we work to protect your investment and the future of SINOVAC.

If you have questions about how your vote can be counted, please contact our proxy solicitor, Georgeson LLC, toll free at (844) 568-1506 in the U.S and (646) 543-1968 outside the U.S. or via email at <u>SinovacSpecialMeeting@georgeson.com</u>.

For more information, visit <u>www.votesinovac.com</u>.

Sincerely,

The SINOVAC Board of Directors

**About SINOVAC**

Sinovac Biotech Ltd. (SINOVAC) is a China-based biopharmaceutical company that focuses on the R&D, manufacturing, and commercialization of vaccines that protect against human infectious diseases.

SINOVAC's product portfolio includes vaccines against COVID-19, enterovirus 71 (EV71) infected Hand-Foot-Mouth disease (HFMD), hepatitis A, varicella, influenza, poliomyelitis, pneumococcal disease, etc.

The COVID-19 vaccine, CoronaVac®, has been approved for use in more than 60 countries and regions worldwide. The hepatitis A vaccine, Healive®, passed WHO prequalification requirements in 2017. The EV71 vaccine, Inlive®, is an innovative vaccine under "Category 1 Preventative Biological Products" and commercialized in China in 2016. In 2022, SINOVAC's Sabin-strain inactivated polio vaccine (sIPV) and varicella vaccine were prequalified by the WHO.

SINOVAC was the first company to be granted approval for its H1N1 influenza vaccine Panflu.1®, which has supplied the Chinese government's vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine, Panflu®, to the Chinese government stockpiling program.

SINOVAC continually dedicates itself to new vaccine R&D, with more combination vaccine products in its pipeline, and constantly explores global market opportunities. SINOVAC plans to conduct more extensive and in-depth trade and cooperation with additional countries, and business and industry organizations.

**Important Additional Information and Where to Find It**

In connection with SINOVAC's Special Meeting, SINOVAC has filed with the U.S. Securities and Exchange Commission ("SEC") and mailed to shareholders of record entitled to vote at the Special Meeting a definitive proxy statement and other documents, including a WHITE proxy card. SHAREHOLDERS ARE ENCOURAGED TO READ THE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS WHEN FILED WITH THE SEC AND WHEN THEY BECOME AVAILABLE BECAUSE THOSE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Investors and other interested parties will be able to obtain the documents free of charge at the SEC's website, <u>www.sec.gov</u>, or from SINOVAC at its website: <u>https://www.sinovac.com/en-us/Investors/sec_filings</u>. You may also obtain copies of SINOVAC's definitive proxy statement and other documents, free of charge, by contacting SINOVAC's Investor Relations Department at <u>ir@sinovac.com</u>.

**Safe Harbor Statement**

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's or Board's control, which may cause actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company and Board do not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

**Contacts**

**Investor and Media Contact**

FGS Global

<u>Sinovac@fgsglobal.com</u>

## Exhibit 99.2

**Exhibit 99.2**

**SINOVAC Board of Directors Prevails Against Advantech/Prime's Lawsuit in Hong Kong**

*Hong Kong Court denies Advantech/Prime's petition for Interim Relief*

*Clears another legal hurdle for distribution of the US$55.00 per common share special cash<br> dividend declared by the current SINOVAC Board to be paid on or about July 7, 2025*

BEIJING, June 28, 2025 – The Board of Directors of SINOVAC Biotech Ltd. (NASDAQ: SVA) ("**SINOVAC**" or the "**Company**"), a leading provider of biopharmaceutical products in China, today announced it has prevailed against the latest lawsuit filed by Advantech/Prime Success ("Advantech/Prime") in Hong Kong. This result follows Advantech/Prime's recently failed petition in New York last week, which was a repeated attempt by the purported PIPE Investors to block or delay a hearing for interim relief sought by the Company et al at the Antiguan High Court and to interfere with the payment of the US$55.00 per common share special cash dividend to valid shareholders of the Company as declared by the current SINOVAC Board.

On June 24, Advantech/Prime delivered via email an ex parte Summons to SINOVAC, 1Globe Capital LLC ("1Globe") and OrbiMed Partners Master Fund Limited ("OrbiMed") for an "interim-interim" injunction application (the "Application"). Vivo Capital also sought to join the Application on June 26. After the emergent hearing at the High Court of Hong Kong on June 27, the court refused to grant any of the relief sought in the Summons. Among other things, the judge also criticized Advantech/Prime for:

&nbsp;&nbsp;&nbsp;&nbsp;1. Failing to comply with the duty of full and frank disclosure in the Application; and

&nbsp;&nbsp;&nbsp;&nbsp;2. The alleged urgency of the Application being self-induced by Advantech/Prime.

The court also ordered that legal costs incurred in the Application by SINOVAC, 1Globe and OrbiMed be compensated by Advantech/Prime, with quantum to be assessed.

Advantech/Prime's continued multi-jurisdictional lawfare is intended to interfere with rightful dividend payments to SINOVAC's valid shareholders and distract from its long history of self-serving schemes. These schemes include:

&nbsp;&nbsp;&nbsp;&nbsp;1. Privatization attempt at a below-market price in 2016;

&nbsp;&nbsp;&nbsp;&nbsp;2. Invalid PIPE transaction at a below-market price in 2018, which materially diluted SINOVAC shareholders and was made at a time when
the Company did not need the capital;

&nbsp;&nbsp;&nbsp;&nbsp;3. US$7.5 million debt investment into Sinovac Life Sciences Co., Ltd. ("SLS"), a wholly owned subsidiary of SINOVAC,
in exchange for a 7.5% equity interest in SLS in 2020, at a time when the Company did not need the capital and which has resulted in over
US$500 million of distributions made to Advantech/Prime to date while common shareholders have received nothing; and

&nbsp;&nbsp;&nbsp;&nbsp;4. Baseless and wasteful legal action in 2025 to interfere with the dividend payment unless Advantech/Prime is able to double dip on
dividends already received from SLS.

The current SINOVAC Board remains committed to its mission of restoring fairness, delivering value, and protecting the rights of all valid shareholders.

**Your Vote is Important**

Your vote on or before July 8 will be about the future of SINOVAC, your receipt of your make-whole dividend payments in the near-term, and the long-term value of your investment.

We urge you to keep SINOVAC's Board in place and vote on the **WHITE** proxy card "**AGAINST**" Proposal 1 to remove the current Board and "**AGAINST**" Proposal 2 to appoint the Reconstituted Imposter Former Board Slate. Your vote is critical to ensuring that SINOVAC remains on the path to stability, growth, and value creation for all shareholders.

**DISCARD** any items you received asking you to vote for the Reconstituted Imposter Former Board Slate. If you have already voted for the Reconstituted Imposter Former Board Slate, you can subsequently revoke it by using the WHITE proxy card or WHITE voting instruction form to vote. Only your latest-dated vote will count!

If you have questions about how your vote can be counted, please contact our proxy solicitor, Georgeson LLC, toll free at (844) 568-1506 in the U.S. and (646) 543-1968 outside the U.S. or via email at <u>SinovacSpecialMeeting@georgeson.com</u>.

**About SINOVAC**

Sinovac Biotech Ltd. (SINOVAC) is a China-based biopharmaceutical company that focuses on the R&D, manufacturing, and commercialization of vaccines that protect against human infectious diseases.

SINOVAC's product portfolio includes vaccines against COVID-19, enterovirus 71 (EV71) infected Hand-Foot-Mouth disease (HFMD), hepatitis A, varicella, influenza, poliomyelitis, pneumococcal disease, etc.

The COVID-19 vaccine, CoronaVac®, has been approved for use in more than 60 countries and regions worldwide. The hepatitis A vaccine, Healive®, passed WHO prequalification requirements in 2017. The EV71 vaccine, Inlive®, is an innovative vaccine under "Category 1 Preventative Biological Products" and commercialized in China in 2016. In 2022, SINOVAC's Sabin-strain inactivated polio vaccine (sIPV) and varicella vaccine were prequalified by the WHO.

SINOVAC was the first company to be granted approval for its H1N1 influenza vaccine Panflu.1®, which has supplied the Chinese government's vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine, Panflu®, to the Chinese government stockpiling program.

SINOVAC continually dedicates itself to new vaccine R&D, with more combination vaccine products in its pipeline, and constantly explores global market opportunities. SINOVAC plans to conduct more extensive and in-depth trade and cooperation with additional countries, and business and industry organizations.

**Important Additional Information and Where to Find It**

In connection with SINOVAC's Special Meeting, SINOVAC has filed with the U.S. Securities and Exchange Commission ("SEC") and mailed to shareholders of record entitled to vote at the Special Meeting a definitive proxy statement and other documents, including a WHITE proxy card. SHAREHOLDERS ARE ENCOURAGED TO READ THE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS WHEN FILED WITH THE SEC AND WHEN THEY BECOME AVAILABLE BECAUSE THOSE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Investors and other interested parties will be able to obtain the documents free of charge at the SEC's website, <u>www.sec.gov</u>, or from SINOVAC at its website: <u>https://www.sinovac.com/en-us/Investors/sec_filings</u>. You may also obtain copies of SINOVAC's definitive proxy statement and other documents, free of charge, by contacting SINOVAC's Investor Relations Department at <u>ir@sinovac.com</u>.

**Safe Harbor Statement**

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's or Board's control, which may cause actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company and Board do not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

**Contacts**

**Investor and Media Contact**

FGS Global <br> <u>Sinovac@fgsglobal.com</u>

## Exhibit 99.3

**Exhibit 99.3**

**SINOVAC Board of Directors Prevails Against Advantech/Prime's New York Lawsuit**

*New York Court Denies Advantech/Prime's Petition for Emergency Injunctive Relief*

*Clears Legal Hurdle for Dividend Paying Agent to Payout the Special Cash Dividend of <br> US$55.00 Per Common Share on July 7, 2025*

BEIJING, June 21, 2025 – SINOVAC Biotech Ltd. (NASDAQ: SVA) ("**SINOVAC**" or the "**Company**"), a leading provider of biopharmaceutical products in China, today announced it has prevailed against Advantech/Prime Success' ("Advantech/Prime") Petition for Emergency Injunctive Relief in the U.S. District Court for the Southern District of New York.

The result in the New York court represents another failure in the campaign by Advantech/Prime in coordination with Vivo Capital (together known as the "Dissenting Investor Group") to wrest control of SINOVAC from its recently installed, lawfully-elected Board of Directors (the "current SINOVAC Board") in accordance with the Privy Council order and Antiguan Law, and to interfere with the payment of the US$55.00 per common share special cash dividend declared by the current SINOVAC Board.

Following the New York court's ruling, the current SINOVAC Board is free to pursue its legal action in Antigua seeking to cancel the PIPE shares invalidly issued to the Dissenting Investor Group by the former illegitimate board (the "Imposter Former Board"). If the current SINOVAC Board succeeds in legal proceedings on the PIPE shares, it has announced its intention to redistribute an additional US$11.00 per common share to SINOVAC's valid shareholders.

Dr. Chiang Li, Chairman of the SINOVAC Board, commented, "We will continue our mission to restore fairness and deliver value to all valid SINOVAC shareholders, starting with paying the $55.00 per share special cash dividend as soon as July 7, 2025."

The Dissenting Investor Group's self-serving, multi-pronged lawfare strategy against SINOVAC has one goal: to prevent all valid SINOVAC common shareholders from receiving any dividend payments unless the Dissenting Investor Group receives an allocation for their invalid PIPE shares, despite the fact that they have already received over US$1 billion in dividends from a SINOVAC operating subsidiary. The current SINOVAC Board has set aside in escrow the pro rata portion of dividends for the PIPE shares — funds the Dissenting Investor Group could receive if the legal proceedings they initiated rule in their favor. The current SINOVAC Board is fighting back – and winning. We feel certain that we will prevail against any further legal action by the Dissenting Investor Group and look forward to ensuring all valid shareholders receive their fair share.

**Your Vote is Important**

Your vote on or before July 8 will be about the future of SINOVAC, your receipt of your make-whole dividend payments in the near-term, and the long-term value of your investment.

We urge you to keep SINOVAC's Board in place and vote on the **WHITE** proxy card "**AGAINST**" Proposal 1 to remove the current Board and "**AGAINST**" Proposal 2 to appoint the Reconstituted Imposter Board Slate. Your vote is critical to ensuring that SINOVAC remains on the path to stability, growth, and value creation for all shareholders.

**DISCARD** any items you received asking you to vote for the Reconstituted Imposter Former Board Slate. If you have already voted for the Reconstituted Imposter Former Board Slate, you can subsequently revoke it by using the WHITE proxy card or WHITE voting instruction form to vote. Only your latest-dated vote will count!

If you have questions about how your vote can be counted, please contact our proxy solicitor, Georgeson LLC, toll free at (844) 568-1506 in the U.S. and (646) 543-1968 outside the U.S. or via email at <u>SinovacSpecialMeeting@georgeson.com</u>.

**About SINOVAC**

Sinovac Biotech Ltd. (SINOVAC) is a China-based biopharmaceutical company that focuses on the R&D, manufacturing, and commercialization of vaccines that protect against human infectious diseases.

SINOVAC's product portfolio includes vaccines against COVID-19, enterovirus 71 (EV71) infected Hand-Foot-Mouth disease (HFMD), hepatitis A, varicella, influenza, poliomyelitis, pneumococcal disease, etc.

The COVID-19 vaccine, CoronaVac®, has been approved for use in more than 60 countries and regions worldwide. The hepatitis A vaccine, Healive®, passed WHO prequalification requirements in 2017. The EV71 vaccine, Inlive®, is an innovative vaccine under "Category 1 Preventative Biological Products" and commercialized in China in 2016. In 2022, SINOVAC's Sabin-strain inactivated polio vaccine (sIPV) and varicella vaccine were prequalified by the WHO.

SINOVAC was the first company to be granted approval for its H1N1 influenza vaccine Panflu.1®, which has supplied the Chinese government's vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine, Panflu®, to the Chinese government stockpiling program.

SINOVAC continually dedicates itself to new vaccine R&D, with more combination vaccine products in its pipeline, and constantly explores global market opportunities. SINOVAC plans to conduct more extensive and in-depth trade and cooperation with additional countries, and business and industry organizations.

**Important Additional Information and Where to Find It**

In connection with SINOVAC's Special Meeting, SINOVAC has filed with the U.S. Securities and Exchange Commission ("SEC") and mailed to shareholders of record entitled to vote at the Special Meeting a definitive proxy statement and other documents, including a WHITE proxy card. SHAREHOLDERS ARE ENCOURAGED TO READ THE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS WHEN FILED WITH THE SEC AND WHEN THEY BECOME AVAILABLE BECAUSE THOSE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Investors and other interested parties will be able to obtain the documents free of charge at the SEC's website, <u>www.sec.gov</u>, or from SINOVAC at its <u>website: https://www.sinovac.com/en-us/Investors/sec_filings</u>. You may also obtain copies of SINOVAC's definitive proxy statement and other documents, free of charge, by contacting SINOVAC's Investor Relations Department at <u>ir@sinovac.com</u>.

**Safe Harbor Statement**

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's or Board's control, which may cause actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company and Board do not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

**Contacts**

**Investor and Media Contact**

FGS Global

<u>Sinovac@fgsglobal.com</u>