BEIJING, March 23 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. (Nasdaq:SVA - News), a leading China-based vaccine manufacturer, announced today that Mr. Weidong Yin, Chairman, President and CEO of Sinovac, is scheduled to partake in Track One: Pharmaceuticals and Biotech at the Inaugural China Healthcare Investment Conference on March 30, 2010. Sinovac is one of five publicly traded life sciences companies that will make a 20-minute company presentation starting at 9:35 a.m. China Standard Time (CST). Mr. Yin will participate subsequently in the presenting company panel that commences at 10:35 a.m. CST. The conference will be held on March 29-31 at the Grand Hyatt in Shanghai, China.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccine products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), and Anflu(R) (influenza). Panflu(TM), Sinovac's pandemic influenza vaccine (H5N1), has already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis vaccine, and human rabies vaccine. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal rabies vaccines.

About China Healthcare Investment Conference

The China Healthcare Investment Conference is the premier event of its kind in China. As the leading event of the year focusing on rapidly-growing Chinese healthcare companies, the Conference will be a great opportunity to meet with emerging companies, industry leaders, key government officials and investors from China and the West.

Recognizing that the healthcare reform and industry growth is spurring a new wave of emerging Chinese healthcare companies, a group of sponsors including KPCB, Fidelity Asia Ventures, Vivo Ventures and Piper Jaffray are leading the efforts to organize this prestigious annual event. The group is committed to turn this meeting into a powerful platform to promote and nurture investment in healthcare in China, and further develop the industry.

Sinovac Beijing is acquiring five existing buildings with a total built- out area of 32,322.66 square meters on 29,021.61 square meters of land, located in Changping District, Beijing, about half hour driving away from our headquarter. The site was previously used to manufacture medicinal products. Sinovac plans to set up two new production lines with a combined annual production capacity of approximately 40 million doses, a filling and packaging line, a warehouse and an animal house. At the site, the Company will manufacture the enterovirus 71 (EV71) vaccine, which causes hand, foot, and mouth disease (HFMD), and its other currently marketed flu vaccines.

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, commented, "We are pleased to complete the acquisition of this previously announced transaction, which supports our growth strategy. The Changping site will enable us to expand our production capacity, as the site will house two state- of-the-art production lines and other necessary supporting functions. We anticipate that it will take approximately two to three years for the lines to be set up and production of our commercialized flu vaccines to commence. These facilities will also support our growth objectives though the introduction of novel products by housing the production lines for our EV71 vaccine, which is currently being studied under the first clinical trial application for an HFMD vaccine submitted in China. If approved, it will be the first vaccine or antiviral treatment available for HFMD worldwide."

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against infectious diseases. Sinovac's vaccine products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), and Anflu(R) (influenza). Panflu(R) and Panflu.1(TM), Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for a number of different infectious diseases including enterovirus 71, pneumococcal disease, Japanese encephalitis, haemophilus influenzae type b (Hib), meningitis, rabies, chickenpox, mumps and rubella. Sinovac is also conducting field trials for independently developed inactivated animal rabies vaccine.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law.

 For more information, please contact:

 Sinovac Biotech Ltd.
 Helen G. Yang
 Tel: +86-10-8289-0088 x9871
 Fax: +86-10-6296-6910
 Email: info@sinovac.com

 Investors

 The Ruth Group
 Amy Glynn/Stephanie Carrington
 Tel: +1-646-536-7023/7017
 Email: aglynn@theruthgroup.com
 scarrington@theruthgroup.com

 Media

 The Ruth Group
 Janine McCargo
 Tel: +1-646-536-7033
 Email: jmccargo@theruthgroup.com

UBS Securities LLC and Piper Jaffray & Co. served as joint bookrunners for the offering.

The offering was made under Sinovac's currently effective shelf registration statements on Form F-3 filed with the Securities and Exchange Commission on November 18, 2009 and January 27, 2010. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities, and does not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained from UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171, U.S.A., telephone: 888-827-7275, or Piper Jaffray & Co., Attention: Equity Capital Markets, 800 Nicollet Mall, Suite 800, Minneapolis MN 55402, U.S.A., telephone: 1-800-754-4781.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against infectious diseases. Sinovac's vaccine products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), and Anflu(R) (influenza). Panflu(R) and Panflu.1(TM), Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for a number of different infectious diseases including enterovirus 71, pneumococcal disease, Japanese encephalitis, haemophilus influenzae type b (Hib), meningitis, rabies, chickenpox, mumps and rubella. Sinovac is also conducting field trials for independently developed inactivated animal rabies vaccine.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law.

    For further information, please contact:

    Sinovac Biotech Ltd.
     Helen G. Yang
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

    Investors:
    The Ruth Group
     Amy Glynn/Stephanie Carrington
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

    Media:
    The Ruth Group
     Janine McCargo
     Tel:   +1-646-536-7033
     Email: jmccargo@theruthgroup.com

Sinovac plans to use the net proceeds of the offering to fund the acquisition and expansion of production facilities, the enhancement of production lines, the research and development of product candidates, the expansion of product pipeline, and general corporate purposes (including an undetermined amount for potential acquisitions).

UBS Securities LLC and Piper Jaffray & Co. will serve as joint bookrunners for the offering.

This offering will be made under Sinovac's currently effective shelf registration statement on Form F-3 filed with the Securities and Exchange Commission on November 18, 2009. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities and does not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained from UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171, U.S.A., telephone: 1-877-827- 6444 ext. 561-3884, or Piper Jaffray & Co., Attention: Equity Capital Markets, 800 Nicollet Mall, Suite 800, Minneapolis MN 55402, U.S.A., telephone: 1-800- 754-4781.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against infectious diseases. Sinovac's vaccine products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), and Anflu(R) (influenza). Panflu(R) and Panflu.1(TM), Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for a number of different infectious diseases including enterovirus 71, pneumococcal disease, Japanese encephalitis, haemophilus influenzae type b (Hib), meningitis, rabies, chickenpox, mumps and rubella. Sinovac is also conducting field trials for independently developed inactivated animal rabies vaccine.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry in which the company operates. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law.

    For further information, please contact:

     Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

    Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

    Media:
     Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7033
     Email: jmccargo@theruthgroup.com

Dalian Joint Venture

In November 2009, Sinovac, through its wholly owned subsidiary Sinovac Biotech (Hong Kong) Ltd., or Sinovac Hong Kong, entered into an agreement with Dalian Jin Gang Group to establish Sinovac (Dalian) Vaccine Technology Co., Ltd., or Sinovac Dalian. In January 2010, Sinovac established Sinovac Dalian, which will focus on the research, development, manufacturing and commercialization of vaccines, such as rabies, chickenpox, mumps and rubella vaccines for human use. Sinovac will manufacture live attenuated vaccines and vero cell cultured vaccines at the production facilities of Sinovac Dalian. Pursuant to the joint venture agreement, Sinovac Hong Kong will make an initial cash contribution of RMB60 million ($8.8 million) in exchange for a 30% equity interest in Sinovac Dalian and Dalian Jin Gang Group will make an asset contribution of RMB140 million ($20.5 million), including manufacturing facilities, production lines and land use rights, in exchange for the remaining 70% interest in Sinovac Dalian. Sinovac Hong Kong has also entered into an agreement with Dalian Jin Gang Group, under which the Company has agreed, subject to the approval of the PRC government, to increase its shareholding in Sinovac Dalian to 55% through purchasing 25% equity interest in Sinovac Dalian from Dalian Jin Gang Group for a consideration of RMB50 million ($7.3 million) on or before December 31, 2010.

Acquisition of Buildings and Land

Sinovac is in advanced negotiations for the acquisition of buildings, land use rights and utility facilities for a total consideration of approximately RMB120 million ($17.6 million). The Company plans to set up at this site two new production lines to manufacture the EV71 vaccine and flu vaccines with an annual production capacity of approximately 30 million doses, a filling and packaging line, a warehouse and an animal house. The Company cannot assure you that this acquisition will be completed.

New Vaccine Order

In January 2010, Sinovac received the fifth purchase order for its H1N1 vaccine, Panflu.1, from China's Ministry of Industry and Information Technology, or MIIT, under the national purchase plan. Under this purchase order, the Company is required to deliver an additional 8.57 million doses of Panflu.1 (15ug/0.5ml) to the Chinese central government, of which 2.33 million doses are expected to be delivered before March 15, 2010, and the balance 6.23 million doses are to be stockpiled by the government in Sinovac's warehouse facility. In aggregate, Sinovac has received orders of Panflu.1 from the Chinese government for a total 21.06 million doses, and 10.23 million doses of Panflu.1 have been delivered to date for the Chinese vaccination campaign. In 2009, Sinovac completed the expansion of its production line used to manufacture the seasonal influenza, H1N1 and H5N1 vaccines, thereby increasing its annual production capacity by approximately 60%.

Financial Update

The following is an estimate of Sinovac's selected preliminary unaudited consolidated financial data for the year ended December 31, 2009. The Company's financial results for 2009 have not been finalized, and remain subject to the completion of its normal year-end closing procedures and possible change. As a result, its final audited consolidated financial data for 2009 may be materially different from the estimated selected financial data set forth below.

Sinovac estimates that its sales for 2009 were between approximately $81 million and $85 million and its gross profit for 2009 was between approximately $61 million and $65 million.

Sinovac expects its operating margin for 2009 to increase as a result of a decrease in its selling, general and administrative expenses relative to its sales in 2009 primarily due to economies of scale achieved through increases in its sales as well as an increased portion of its sales to the Chinese government, particularly in the sales of Healive and Panflu.1, which have lower selling expenses attributed to such sales. Sinovac expects the trend of increasing operating margin in the first three quarters of 2009 to be particularly pronounced in the last quarter of 2009 because of a significant increase in Panflu.1 sales to the Chinese government under the purchase program. Furthermore, Sinovac believes the H1N1 outbreak led various Centers for Disease Control and Prevention and the market to place more attention and resources towards H1N1 vaccination and less on other vaccines.

Given the preliminary nature of the estimates of Sinovac, its actual sales and gross profit for 2009 may be materially different from its current expectations. In particular, the above estimates assume the full recognition into Sinovac's sales revenue in 2009 of the purchase of 10.23 million doses in December 2009 of Sinovac's Panflu.1 vaccine by MIIT, as part of China's national purchase plan. Although Sinovac has delivered this shipment and received $29.3 million in December 2009 in payment based on the agreed pricing terms, there is a risk that MIIT may unilaterally adjust the price and affect the amount of revenue Sinovac may ultimately recognize when it finalizes its financial statements.

In July 2009, Sinovac completed a restructuring by which Sinovac transferred its 71.56% direct equity interest in Sinovac Biotech Co., Ltd., or Sinovac Beijing, to its wholly owned subsidiary Sinovac Hong Kong for no consideration. Because this is a related party transaction, the PRC tax authorities have the authority to adjust the amount of the consideration deemed paid for PRC enterprise income tax purposes to reflect an arm's length amount in accordance with the transfer pricing rules. Such adjustment could result in the recognition by Sinovac of a higher amount of capital gains subject to the PRC enterprise income tax at a rate of 10%. Sinovac's estimated tax liability is approximately $1.5 million, which is subject to the approval of the PRC tax authorities as they have discretion to assess and determine the final amount. The amount of Sinovac's ultimate tax payment could be higher than the amount estimated, which may adversely affect its net income attributable to stockholders.

In connection with the dividends declared for 2008 and 2009 by Sinovac Beijing to Sinovac Hong Kong, the Company expects to incur in 2009 a withholding tax in an aggregate amount of $3.1 million, if the withholding tax rate is 10%, or $2.0 million if Sinovac is successful in obtaining the reduced rate of 5% for the dividends declared for the 2009 fiscal year under the tax arrangement between the PRC and Hong Kong. Whether the favorable rate will be applicable to dividends received by Sinovac Hong Kong from its PRC subsidiaries is subject to the approval of the PRC tax authorities because it is unclear whether Sinovac Hong Kong is considered the beneficial owner of the dividends in substance. The PRC tax authorities have discretion to assess whether a recipient of the PRC-sourced income is only an agent or a conduit, or lacks the requisite amount of business substance, in such a case the application of the tax arrangement may be denied.

The incurrence of the withholding taxes discussed above is likely to adversely affect Sinovac's net income attributable to stockholders in 2009.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against infectious diseases. Sinovac's vaccine products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), and Anflu(R) (influenza). Panflu(R) and Panflu.1(TM), Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for a number of different infectious diseases including enterovirus 71, pneumococcal disease, Japanese encephalitis, haemophilus influenzae type b (Hib), meningitis, rabies, chickenpox, mumps and rubella. Sinovac is also conducting field trials for independently developed inactivated animal rabies vaccine.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law.

    For more information, please contact:

     Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

    Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

    Media:
     Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7033
     Email: jmccargo@theruthgroup.com

Sinovac Obtains Fifth H1N1 Vaccine Order from Chinese Central Government

BEIJING, Jan. 13 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. (Nasdaq: SVA), a leading provider of biopharmaceutical products in China, announced today that it has received its fifth purchase order for its H1N1 vaccine, PANFLU.1(TM), from China's Ministry of Industry and Information Technology for the national purchase plan. Under this purchase order, Sinovac is required to deliver an additional 8.57 million doses of PANFLU.1(TM) (15ug/0.5ml) to the Chinese Central Government, of which 2.33 million doses are expected to be delivered before March 15, 2010, and the balance of 6.23 million doses to be stockpiled by the government in Sinovac's warehouse facility.

In aggregate, Sinovac has received orders of PANFLU.1 from the Chinese government for a total 21.06 million doses, and 10.23 million doses of PANFLU.1 have been delivered to date for the Chinese vaccination campaign. In 2009, the Company completed the expansion of its production line used to manufacture the seasonal influenza, H1N1 and H5N1 vaccines, thereby increasing its annual production capacity by approximately 60%.

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, commented, "This fifth order from the Chinese Central Government demonstrates Sinovac's continuing ability to complete its national H1N1 vaccine stockpiling tasks in a timely manner. The production capacity expansion has continued to serve its purpose in positioning Sinovac to operate even more efficiently towards our goal of providing citizens of China with affordable, international-quality vaccines."

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccine products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), and Anflu(R) (influenza). Panflu(R) and PANFLU.1(TM), Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors 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.

    For more information, please contact:

     Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

    Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

    Media:
     Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7033
     Email: jmccargo@theruthgroup.com

------

Sinovac Obtains Fifth H1N1 Vaccine Order from Chinese Central Government

BEIJING, Jan. 13 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. (Nasdaq: SVA), a leading provider of biopharmaceutical products in China, announced today that it has received its fifth purchase order for its H1N1 vaccine, PANFLU.1(TM), from China's Ministry of Industry and Information Technology for the national purchase plan. Under this purchase order, Sinovac is required to deliver an additional 8.57 million doses of PANFLU.1(TM) (15ug/0.5ml) to the Chinese Central Government, of which 2.33 million doses are expected to be delivered before March 15, 2010, and the balance of 6.23 million doses to be stockpiled by the government in Sinovac's warehouse facility.

In aggregate, Sinovac has received orders of PANFLU.1 from the Chinese government for a total 20.05 million doses, and 10.23 million doses of PANFLU.1 have been delivered to date for the Chinese vaccination campaign. In 2009, the Company completed the expansion of its production line used to manufacture the seasonal influenza, H1N1 and H5N1 vaccines, thereby increasing its annual production capacity by approximately 60%.

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, commented, "This fifth order from the Chinese Central Government demonstrates Sinovac's continuing ability to complete its national H1N1 vaccine stockpiling tasks in a timely manner. The production capacity expansion has continued to serve its purpose in positioning Sinovac to operate even more efficiently towards our goal of providing citizens of China with affordable, international-quality vaccines."

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccine products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), and Anflu(R) (influenza). Panflu(R) and PANFLU.1(TM), Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors 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.

    For more information, please contact:

     Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

    Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

    Media:
     Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7033
     Email: jmccargo@theruthgroup.com

In aggregate, Sinovac has received orders of PANFLU.1 from the Chinese government for a total 20.05 million doses, and 10.23 million doses of PANFLU.1 have been delivered to date for the Chinese vaccination campaign. In 2009, the Company completed the expansion of its production line used to manufacture the seasonal influenza, H1N1 and H5N1 vaccines, thereby increasing its annual production capacity by approximately 60%.

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, commented, "This fifth order from the Chinese Central Government demonstrates Sinovac's continuing ability to complete its national H1N1 vaccine stockpiling tasks in a timely manner. The production capacity expansion has continued to serve its purpose in positioning Sinovac to operate even more efficiently towards our goal of providing citizens of China with affordable, international-quality vaccines."

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccine products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), and Anflu(R) (influenza). Panflu(R) and PANFLU.1(TM), Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors 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.

    For more information, please contact:

     Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

    Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

    Media:
     Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7033
     Email: jmccargo@theruthgroup.com

No vaccine or antiviral treatment is currently available for HFMD worldwide, though it has become a very serious problem in Asia in recent years. The disease is highly contagious and a growing number of HFMD cases have been reported in parts of Asia, including Mainland China, Hong Kong, Singapore, Korea, and Taiwan. According to China's Center for Disease Control (CDC) between January 1 and November 30 of this year, the disease has caused more than 400 deaths in China, where health authorities reported over 1.1 million HFMD infections, compared to about 200 reported H1N1 deaths. HFMD is common among infants and children, as most of the recently reported cases have occurred in children. Due to the severity of the disease epidemic, China authorities recognize the unmet medical need and are expected to support the launch of a HFMD vaccine as soon as possible. Therefore, Sinovac believes that fast track status for the reviewing process and approval may be granted.

As previously announced, the Company began preclinical development in 2008. Sinovac is independently developing the EV 71 vaccine and will retain full commercialization rights of the vaccine upon approval. Created by Sydney University, the animal model showed cross protection and demonstrated that the vaccine is effective in animals. In addition, Sinovac is preparing to file a patent application covering the EV 71 vaccine.

Weidong Yin, Chairman, President & CEO, stated, "We are very pleased to submit the clinical trial application for the EV 71 vaccine to the SFDA. Our ability to submit the application ahead of the projected 2010 timeline is a validation of the R&D capabilities of the team developing this vaccine. A vaccine against EV 71 represents a significant unmet medical need, given that there are not effective preventive therapeutic alternatives for this life threatening viral illness affecting infants and children. Based on current expectations, we anticipate that the EV 71 vaccine, subject to positive human clinical trial results and commercialization, represents a significant flagship product opportunity for the Company as well as an opportunity to improve the lives of children around the world."

About EV 71

Enterovirus 71, or EV 71, causes Hand, Foot, and Mouth Disease (or HFMD). More than 90% of the reported cases occur in children under five years old. HFMD is a common and usually mild childhood disease. EV 71 is a frequent cause of HFMD epidemics associated with neurological disease in a small proportion of cases. A number of outbreaks of EV 71 HFMD in the Asia-Pacific region have been reported since 1997. Outbreaks have been reported in Malaysia (1997), Taiwan (1998, 2000 & 2001), Mainland China (1998-2008), Australia (1999) and

Singapore (2000) among other areas in the region. There is no specific treatment for enterovirus infections and a vaccine is not currently available.

In 2008, 489,073 cases were reported in China with 126 reported fatalities. For the first 11 months of 2009, over 1.1 million cases were reported in China, with over 400 reported fatalities.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccine products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), and Anflu(R) (influenza). Panflu(R) and PANFLU.1(TM), Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal rabies vaccine.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors 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.

    For more information, please contact:

     Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

     Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

     Media:
     Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7033
     Email: jmccargo@theruthgroup.com

Mr. Weidong Yin was honored because of his contribution to the battle against the H1N1 influenza pandemic; Sinovac vaccines protect human life and strengthen the Chinese people's confidence.

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, remarked, "I am very pleased to have received CCTV's 2009 Annual Innovation Award. As the first company worldwide to receive approval for the H1N1 vaccine, we have exemplified Sinovac's position as a true innovator in the global vaccine industry. We are proud that our entire portfolio of innovative vaccines continues to make a significant contribution to the health and well-being of Chinese citizens."

Recipients of the Top Ten 2009 Economic Man-of-the-Year award were CEO and president of Sina Charles Chao, China Minsheng Banking Corporation Chairman Dong Wenbiao, Shenzhen Capital Group Chairman Jin Haitao, chairman of Geely Automobile Holding Li Shufu, Guangdong Galanz Enterprise Group CEO Liang Chao-Hsien, chairman of Jiangsu Shagang Group Shen Wenrong, chairman and CEO at Neusoft Group Ltd Liu Jiren, Phoenix Publishing & Media Group chairman Tan Yue, Chongqing Changan Automobile Co., Ltd., chairman Xu Liuping, and chairman of New Oriental Education Group Yu Minhong. In addition, Liu Haitao, head of Shanghai Institute of Microsystem and Information Technology under the Chinese Academy of Sciences, received the Annual Innovation Award.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccine products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), and Anflu(R) (influenza). Panflu(R) and PANFLU.1(TM), Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal rabies vaccine.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors 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.

    For more information, please contact:

     Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

     Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

     Media:
     Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7033
     Email: jmccargo@theruthgroup.com

The "Competitiveness Measure" is the measuring model developed by the experts from the Research Center of Chinese Industries and Enterprise Competitiveness and China Business Media. The model evaluates the competitiveness of Chinese listed companies through the criteria including the listed companies' sales revenue, net assets, net profits, the sales revenue, growth rate of net profits, and return on net assets in the past three years. The evaluation result will become an objective and authoritative reference for management and investors.

Sinovac, an independent company publicly traded on the NASDAQ Global Market, shares a position on the list with some of China's large "State-owned Enterprises" such as China National Offshore Oil, PetroChina, China Mobile (Hong Kong), China Unicom, and China Petroleum & Chemical. Completing the Top 10 list are Yingli Green Energy Holdings Co., Ltd., Gushan Environmental Energy Limited, LDK Solar Co., Ltd., and Changzhou Trina Solar Energy Co., Ltd.

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, remarked, "We would like to thank China Business and the Institute of Industrial Economics of the Chinese Academy of Social Sciences for bestowing this designation on our Company as it recognizes our collective and successful efforts to develop and commercialize vaccines within a competitive marketplace."

The Annual Meeting on Enterprise Competitiveness has been held since 2003 and is China's only economic forum combining theoretical research and economic practice. The key contents of the annual meeting include: issuing the research results of the Institute of Industrial Economics of the Chinese Academy of Social Sciences and China Business Media; releasing survey results on the competitiveness of listed Chinese enterprises based on analysis of annual report data; and inviting well-known entrepreneurs, economists, and governmental officials to discuss the hottest economic issues for the current year.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccine products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), and Anflu(R) (influenza). Panflu(R) and PANFLU.1(TM), Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal rabies vaccine.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors 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.

    For more information, please contact:

     Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

     Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

     Media:
     Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7033
     Email: jmccargo@theruthgroup.com

CCTV's Economic Man-of-the-Year is the country's most influential and well-known business award, sometimes referred to as the "Oscar Award of the Chinese Economy." The award is granted to those business leaders who exemplify China's economic growth, are central to the Chinese economy in the current year, and represent role models of the Chinese economy.

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, remarked, "For me, it's unexpected to be nominated for China's 2009 Economic Man-of-the-Year. And I am pleased to have it on my personal record. It also demonstrates that the contributions made by Sinovac, represented by me, to Chinese society has been recognized and appreciated by the public. Sinovac's management will continue to execute our business development strategy in this favorable environment and we are confident on our performance and growth. We will continue to make efforts to maximize our shareholders' interests."

The award's criteria include creativity, driving force, vision, and social responsibility. The nominees include Yu Minhong (Michael Yu), CEO of New Oriental Group and Cao Guowei (Charles Chao), CEO of Sina.com, among others. The final results will be announced on Dec. 23, 2009. Winners are chosen by a panel of expert judges, aided by votes from the public via the Internet.

Previous recipients of the Economic Man-of-the-Year award included Lin Yifu, World Bank Senior Vice President and Chief Economist; Liu Chuanzhi, Chairman of Lenovo; and Li Yanhong (Robin Li), president of Baidu.com.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccine products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), and Anflu(R) (influenza). Panflu(R) and PANFLU.1(TM), Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal rabies vaccine.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors 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.

    For more information, please contact:

     Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

     Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

     Media:
     Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7033
     Email: jmccargo@theruthgroup.com

The Company recently completed the expansion of its production line utilized to manufacture the seasonal influenza, H1N1 and H5N1 vaccines, thereby increasing its annual production capacity by approximately 30%. Sinovac is utilizing its expanded production line to manufacture the one million doses to fulfill this purchase order.

In aggregate, Sinovac has received orders of PANFLU.1 from the Chinese government for a total 12.49 million doses, and 7.56 million doses of PANFLU.1 have been delivered for the Chinese vaccination campaign.

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, commented, "We are very proud to be supplying our H1N1 vaccine to the Chinese government and are confident that we can complete the national H1N1 vaccine stockpiling task in a timely manner. With the production capacity expansion, Sinovac will be better positioned to work towards our goal of providing citizens of China with affordable, international-quality vaccines."

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccine products include Healive® (hepatitis A), Bilive® (combined hepatitis A and B), and Anflu® (influenza). Panflu® and PANFLU.1(TM), Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors 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.

    For more information, please contact:

     Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

    Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

    Media:
     Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7033
     Email: jmccargo@theruthgroup.com

BEIJING, Nov. 25 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. (Nasdaq: SVA - News), a leading developer and provider of vaccines, announced today that it executed a joint venture (JV) agreement to establish Sinovac (Dalian) Vaccine Technology Co., Ltd. (Sinovac Dalian). The JV will research, develop, produce and commercialize human-use vaccines. Sinovac will contribute its expertise and experience in developing and commercializing world-class vaccines; the other party will bring its land use rights, manufacturing facilities and established operating infrastructure.

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, remarked, "Sinovac Dalian brings to Sinovac a highly efficient platform to expand our manufacturing capacity, diversify our production capabilities and increase our operational scale. By leveraging the favorable investment environment, Dalian's relatively low operating cost and its existing facilities, this JV enables Sinovac to cost effectively establish manufacturing platforms for live attenuated vaccines and vero cell cultured vaccines, thus adding another important manufacturing site for Sinovac's vaccine products. The day-to-day operations of the JV will be led by Sinovac management as we continue to execute our business development strategy to advance and expand our development pipeline, and increase our manufacturing capacity to meet the growing domestic and international demand for human-use vaccines."

In conjunction with its formation, Sinovac representatives will occupy key positions at the JV including Chairman, General Manager, Head of Research and Development and Financial Director. Sinovac Dalian will be headquartered in Dalian, Liaoning Province and will occupy a total area of approximately 1,000,000 square feet. The building area is approximately 200,000 square feet, which is comprised of a nearly 60,000 square foot manufacturing and R&D facility. The campus currently contains two vaccine production lines -- one for the vero cell cultured vaccines and one for live attenuated vaccines -- and has capacity to house approximately six different production lines. In addition, the headquarters feature quality assurance and quality control facilities, research laboratory, office building and warehouse.

Based on current projections, Sinovac Dalian's development pipeline is expected to be comprised of vaccines for rabies, mumps, varicella, and rubella. The Dalian-based facility has a designed annual manufacturing capacity of 20 million doses of vero cell cultured vaccines and 20 million doses of live attenuated vaccines.

Sinovac Biotech through its wholly-owned subsidiary Sinovac Biotech (Hong Kong) Ltd, shall make an initial cash contribution of 60 million RMB, or approximately $8.8 million. Dalian Jin Gang Group, the other party, shall make an asset contribution, inclusive of its manufacturing facilities, production lines and land use rights, with an appraised value of 140 million RMB, or approximately $22.5 million. Equity interest is divided 30% and 70% between Sinovac and Dalian, respectively. Pursuant to the agreement executed between Sinovac and Dalian Jin Gang Group, Sinovac will increase its equity shares to 55% in exchange for a cash contribution of 50 million RMB, or approximately $7.5 million, on or before December 31, 2010.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's commercialized vaccine products include Healive® (hepatitis A), Bilive® (combined hepatitis A and B), Anflu® (seasonal influenza), Panflu(TM) (pandemic influenza (H5N1)), and PANFLU.1(TM) (pandemic influenza A (H1N1)).

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors 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.

    For more information, please contact:

     Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

    Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

    Media:
     Janine McCargo
     The Ruth Group
     Tel:   +1-656-536-7033
     Email: jmccargo@theruthgroup.com

A live webcast of the presentation will be available online on the Investor Relations home page of Sinovac's corporate Web site at http://www.sinovac.com .

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccine products include Healive® (hepatitis A), Bilive® (combined hepatitis A and B), and Anflu® (influenza). Panflu(TM), Sinovac's pandemic influenza vaccine (H5N1), has already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal rabies vaccines.

    For more information, please contact:

     Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

    Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

    Media:
     Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7033
     Email: jmccargo@theruthgroup.com

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, remarked, "The shelf registration is intended to provide us with greater financial flexibility to execute our growth strategy over the next several years. It is important to note that we do not have immediate plans to raise capital."

If and when the shelf registration statement on Form F-3 is declared effective by the SEC, Sinovac may from time to time offer and sell up to 10 million common shares. The use of the net proceeds from the sale of the common shares will be set forth in the applicable prospectus supplement filed each time common shares are sold.

The registration statement has been filed with the SEC, but has not yet become effective. The terms of any offering under the registration statement would be established at the time of the offering and as required would be described in a prospectus supplement filed with the SEC. The common shares may not be sold, nor may offers to buy the common shares be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell any common shares, or the solicitation of an offer to buy any common shares, nor will Sinovac sell any common shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of any such state or jurisdiction.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's commercialized vaccine products include Healive® (hepatitis A), Bilive® (combined hepatitis A and B), Anflu® (seasonal influenza), Panflu(TM) (pandemic influenza (H5N1)), and PANFLU.1(TM) (pandemic influenza A (H1N1)).

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors 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.

    For more information, please contact:

    Helen G. Yang
    Sinovac Biotech Ltd.
    Tel:   +86-10-8289-0088 x9871
    Fax:   +86-10-6296-6910
    Email: info@sinovac.com

    Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

    Media:
     Janine McCargo
     The Ruth Group
     Tel:   +1-656-536-7033
     Email: jmccargo@theruthgroup.com

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, stated, "The revised license enables Sinovac to provide our H1N1 vaccine to a broader population across China and lengthens the product shelf life. We continue to work closely with Chinese government to provide citizens with international-quality vaccines and to fulfill our mission of supplying vaccines to eliminate human diseases."

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccine products include Healive® (hepatitis A), Bilive® (combined hepatitis A and B), and Anflu® (influenza). PANFLU.1(TM), Sinovac's H1N1 vaccine, and Panflu(TM), Sinovac's pandemic influenza vaccine (H5N1), have already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis vaccine, and human rabies vaccine. Its wholly owned subsidiary, Tangshan Yian, is has submitted an application for approval with the Ministry of Agriculture for its independently developed inactivated animal rabies vaccine.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors 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.

    For further information, please contact:

    Sinovac Biotech Ltd.
     Helen G. Yang
     Tel:  +86-10-8289-0088 x9871
     Fax:  +86-10-6296-6910
     Email: info@sinovac.com

    Investors:
    The Ruth Group
     Amy Glynn/Stephanie Carrington
     Tel:  +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

    Media
    The Ruth Group
     Janine McCargo
     Tel:    +1-646-536-7033
     Email:  jmccargo@theruthgroup.com

The purchase plan from the Shanghai Government reflects the continued expansion of government purchase programs for vaccines. This is part of the national expanded immunization program (EPI) funded by the Chinese government.

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, remarked, "We are pleased that the Shanghai Government selected Sinovac as the sole manufacturer for this $3 million hepatitis A tender offer. Earlier this year, we established growth for Healive in both the public and private pay markets as a strategic goal. At that time, our newly completed filling and packaging plant had made us well positioned to fulfill existing orders, increase our production scale for meeting the demand from both public market and private market and develop new vaccines. We have done just that, securing large Healive purchase orders from the Shanghai government and China's Ministry of Public Health, even as we quickly adapted to develop and commercialize PANFLU.1, a time sensitive H1N1 vaccine. The selection confirms our ability to supply our high quality vaccines pursuant to the Government purchasing programs."

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's commercialized vaccine products include Healive® (hepatitis A), Bilive® (combined hepatitis A and B), Anflu® (seasonal influenza), Panflu(TM) (pandemic influenza (H5N1)), and PANFLU.1(TM) (pandemic influenza A (H1N1)). Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, pneumococcal infection, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal rabies vaccines.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors 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 G. Yang
    Sinovac Biotech Ltd.
    Tel:  +86-10-8289-0088 x9871
    Fax:  +86-10-6296-6910
    Email:  info@sinovac.com

    Investors:
    Amy Glynn/Stephanie Carrington
    The Ruth Group
    Tel:  +1-646-536-7023/7017
    Email:  aglynn@theruthgroup.com
    scarrington@theruthgroup.com

    Media
    Janine McCargo
    The Ruth Group
    Tel:  656-536-7033
    Email:  jmccargo@theruthgroup.com

Financial Highlights

• Sales for the third quarter increased 142% to $21.2 million
• Sales for the nine-month period increased 40% to $47.8 million
• Operating income for the third quarter rose 436% to $12.4 million
• Operating income for the nine-month period increased 90% to $23.7 million.
• Net income attributable to the shareholders increased 606% to $5.2 million in the third quarter, with diluted EPS of $0.12
• Cash and cash equivalents at September 30, 2009 was $46.6 million.

Business Highlights

• In August, Sinovac reported positive top-line results from the completed clinical trial for its internally-developed pandemic influenza A (H1N1) vaccine, PANFLU.1(TM). The analysis of the clinical trial results showed that Sinovac's H1N1 vaccine induces good immunogenicity after one dose. The seropositive rate, seroconvertive rate and GMT increasing multiple conform to international criteria for vaccines, which indicated PANFLU.1 has a good safety and immunogenicity profile.

• In August, Sinovac was selected by the Beijing Public Health Bureau as one of four manufacturers to supply seasonal influenza vaccine to the citizens of Beijing. The Beijing Public Health Bureau completed the bidding process for the purchase of flu vaccines and corresponding services for 2009 on August 26, 2009. Sinovac will supply its seasonal influenza vaccine, Anflu®, pursuant to this agreement.

• In September, Sinovac's registration application for its pandemic influenza A (H1N1) vaccine, PANFLU.1(TM), was approved by the State Food and Drug Administration (SFDA) and a production license was granted. Sinovac received a first purchase order for 3.3 million doses and a second order purchase for 3.0 million doses on September 4 and September 30, respectively, from China's Ministry of Industry and Information Technology for the national purchase plan. In October, Sinovac received a third purchase order for 5.19 million doses. In aggregate, Sinovac has received orders for a total of 11.49 million doses of its PANFLU.1(TM) vaccine for China's national purchase plan.

• In September, Sinovac signed an agreement with Boryung Pharmaceutical Company Limited, a Korean manufacturer of pharmaceuticals, to collaborate on marketing efforts and possible vaccine supply efforts to the government of South Korea for Sinovac's H1N1 vaccine. The agreement followed meetings between Sinovac and the Korean Food and Drug Administration (KFDA) and the Korean Center for Disease Control (KCDC) where Sinovac presented the scientific data of Sinovac's H1N1 vaccine. The collaboration provides Boryung exclusive rights to represent Sinovac in discussions with the KFDA and KCDC in the development of business opportunities in South Korea surrounding Sinovac's H1N1 vaccine.

• In October, Sinovac obtained a Certificate of Approval from Mexico's Secretaria de Salud to distribute PANFLU.1 in Mexico. Imperiales S.A. de C.V., a biopharmaceutical company with operations in Mexico since 1935, is the exclusive distributor of Sinovac's vaccine products in the Mexican market, pursuant to a prior distribution agreement signed in 2005 with its affiliate. An application for Anflu was filed in Mexico as well.

• In October, Sinovac received the Certificate of Approval to distribute its H5N1 (bird flu) pandemic influenza vaccine in Hong Kong. The Company plans to submit applications in Hong Kong for approval of its PANFLU.1 (H1N1) and Anflu vaccines in the coming months.

• In October, Sinovac was selected to supply its seasonal flu vaccine, Anflu®, to the Shanghai government. This marks Sinovac's entry into an additional new public market for its seasonal flu vaccine.

• In November, Sinovac was selected among five vaccine manufacturers by the Shanghai Government to supply its hepatitis A vaccine, Healive®, to the public market of Shanghai. Sinovac will supply Healive valued at RMB 20.6 million, or approximately $3 million, pursuant to the purchase order that will be in effect for one year.

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, commented, "We are very proud that Sinovac was the first company in the world to develop a vaccine for the H1N1 pandemic flu virus. This achievement was made possible by the Company's focus on its mission to provide Chinese children with the best vaccines in the world, and let children in the world benefit from vaccines made in China. To this end, we have not only acted as a successful provider of H1N1 vaccine to China, but have also made strides toward providing other markets such as South Korea and Mexico with PANFLU.1.

"Sinovac has been able to demonstrate its flexibility and agility as a leading vaccine Company by excelling in the rapid development and production of this new product, while, at the same time, also realizing product orders for Anflu and the H5N1 Panflu vaccine, both inside and outside of China. We will continue to leverage our leadership position in the development of the H1N1 vaccine to pursue international marketing opportunities for our entire vaccine portfolio. We will also continue our development efforts to expand our portfolio of marketed vaccines, such as EV71, pneumococcal conjugated vaccine, and rabies, in the coming years."

Mr. Yin concluded, "Our strong third quarter results were a testament to our ability to commercialize our H1N1 and H5N1 vaccines. We recorded revenues from doses sold in China and Macau. Given our strong product mix, we were able to maintain our gross profit margin in excess of 80%. With the continued execution of our commercialization strategy, we remain on track to exceed the previously projected full year 2009 revenue range of $55 million to $60 million."

Market Overview

The People's Republic of China (PRC) government's expansion program of publicly funded inoculations has driven increased demand for Sinovac's principal product, Healive. Although the gross margin on public sales is lower than on private sales, Sinovac expects to realize volume-related offsetting cost savings and efficiencies.

In the current year, Sinovac expects to generate significant revenues from the sale of its H1N1 vaccine; this is expected to be a short-term initiative that will extend through to the end of the influenza season in the spring of 2010. These sales are not expected to be recurring, but demonstrate the Company's ability to develop, manufacture and distribute vaccines on short notice.

At the same time, the outbreak of H1N1 pandemic flu appears to have increased the demand for seasonal flu vaccines. It is expected that increasing sales of Anflu will benefit the company over the long-term.

Financial Review for Three Months Ended September 30, 2009

During the third quarter of 2009, sales were $21.2 million, up 142% from $8.7 million in the third quarter of 2008. During the third quarter of 2009, Sinovac's unit dose sales were:

    Three months ended September 30,               2009              2008
                                               (000 doses)       (000 doses)
                                               -----------       -----------
    Healive                                         989             1,087

    Bilive                                          215                28

    Anflu                                         4,312               512

    Panflu (H5N1)                                    20                 0

    PANFLU.1 (H1N1)                                 586                 0

Sales of the hepatitis A vaccine to the public market (including doses purchased by the Ministry of Health) accounted for 31% of total hepatitis A vaccine sales in the quarter. Sales of Bilive increased significantly during the quarter due to a successful marketing campaign. Sales revenues for 20,000 doses of Panflu (H5N1) to Macau and 586,000 doses of PANFLU.1 (H1N1) were booked during the third quarter of 2009.

Gross profit for the third quarter 2009 was $17.5 million, with a gross margin of 83%, compared to $7.1 million and a gross margin of 81%, for the same period of 2008. The gross margin was favorably impacted by the utilization of the Anflu production line to produce PANFLU.1 (H1N1) and Panflu (H5N1). The gross margin for the third quarter of 2009 increased from the gross margin of 81% reported in the third quarter of 2008 due to efficiencies resulting from expanded production volume of Bilive and increased utilization of the flu production line.

Total operating expenses for the third quarter of 2009 were $5.1 million, compared to $4.8 million in the comparative period in 2008. Selling, general and administrative expenses for the third quarter of 2009 were $3.5 million, compared to $3.8 million in the same period of 2008. SG&A expenses as a percentage of third quarter 2009 sales decreased to 17%, down from 43% during the prior year. The lower selling and administrative expenses as a percentage of revenue resulted from the increased economies of scale associated with the significant growth of sales.

Net research and development expenses for the third quarter 2009 were $1.4 million, compared to $812,000 in the same period of 2008. The increased R&D expenses in the third quarter of 2009 were mainly related to the completion of the H1N1 clinical trial and the continued development of the EV 71 vaccine, pneumococcal conjugated vaccine, and universal pandemic influenza vaccine.

Third quarter 2009 operating income was $12.4 million, compared to operating income of $2.3 million in the prior year. Net income for the third quarter of 2009 included $246,000 interest and financing expenses and $3.8 million in income tax expenses. Net income for the same period of 2008 included $190,000 of interest and financing expenses and $911,000 of income tax expenses. Net income attributable to shareholders for third quarter of 2009 was $5.2 million, or $0.12 per diluted share, up 606% compared to net income attributable to shareholders of $740,000, or $0.02 per diluted share, in the same period of 2008.

As of September 30, 2009, Sinovac's cash and cash equivalents totaled $46.6 million, compared to $32.9 million as of December 31, 2008. The increase in cash and cash equivalents primarily reflects an advance payment received for a vaccine-stockpiling program.

Financial Review for Nine Months Ended September 30, 2009

During the nine months ended September 30, 2009, sales were $47.8 million, up 40% from $34.1 million for the same period in 2008. Sinovac recorded strong revenues growth in the second and third quarters, which greatly improved the Company's performance for the year to date.

During the first nine months of 2009, Sinovac's unit dose sales were:

    Nine months ended September 30             2009              2008
    ------------------------------             ----              ----
                                           (000 doses)       (000 doses)
                                           -----------       -----------
    Healive                                   5,024             5,313

    Bilive                                      708               234

    Anflu                                     4,448               498

    Panflu (H5N1)                                20                 0

    PANFLU.1 (H1N1)                             586                 0

Gross profit for the nine-month period was $38.9 million, with a gross margin of 81%, compared to $28.8 million and a gross margin of 84%, for the prior year period. The gross margin was adversely affected by the lower selling price of Healive vaccine delivered to the Ministry of Health, of which 2.08 million doses was delivered in the second quarter of 2009. Total operating expenses for the first nine months of 2009 were $15.2 million, compared to $16.3 million in the comparative period in 2008.

Selling, general and administrative expenses for the first nine months of 2009 were $12.0 million, compared to $13.4 million in the prior year period. SG&A expenses as a percentage of sales decreased to 25%, down from 39% in the comparative period of the prior year. Net research and development expenses for the first nine months of 2009 were $2.8 million, compared to $2.4 million in the prior year period.

Operating income for the nine months ended September 30, 2009 was $23.7 million, compared to an operating income of $12.5 million in the prior year period. Net income for the first nine months of 2009 included $571,000 in interest and financing expenses and $6.4 million in income tax expenses. Net income for the same period of 2008 included $747,000 of interest and financing expense and $3.2 million of income tax expense. Net income attributable to shareholders for the first nine months of 2009 was $11.1 million, or $0.26 per diluted share, compared to net income of $5.6 million, or $0.13 per diluted share, in the same period of 2008.

Conference Call Details

The Company will host a conference call on Monday, November 16, 2009 at 9:00 a.m. EDT (10:00 p.m. China Standard Time) to review the Company's third quarter financial results for the period ended September 30, 2009 and provide an update on recent corporate developments. To access the conference call, please dial 1-877-407-4018 (USA) or 1-201-689-8471 (international). A replay of the call will be available from 12:00 p.m. ET on November 16, 2009 until November 30, 2009. To access the replay, please dial 1-877-660-6853 (USA) or 1-201-612-7415 (international) and reference the account number 3055 and the access code 337401. A live audio webcast of the call will also be available from the Investors section on the corporate web site at http://www.sinovac.com. A webcast replay can be accessed on the corporate website beginning November 16, 2009 and the replay will remain available for 30 days.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's commercialized vaccine products include Healive® (hepatitis A), Bilive® (combined hepatitis A and B), Anflu® (seasonal influenza), Panflu(TM) (pandemic influenza (H5N1)), and PANFLU.1(TM) (pandemic influenza A (H1N1)). Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, pneumococcal infection, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal rabies vaccines.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors 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 G. Yang
    Sinovac Biotech Ltd.
    Tel:  +86-10-8289-0088 x9871
    Fax:  +86-10-6296-6910
    Email:  info@sinovac.com

    Investors:
    Amy Glynn/Stephanie Carrington
    The Ruth Group
    Tel:  +1-646-536-7023/7017
    Email:  aglynn@theruthgroup.com
    scarrington@theruthgroup.com

    Media
    Janine McCargo
    The Ruth Group
    Tel:  656-536-7033
    Email:  jmccargo@theruthgroup.com

    SINOVAC BIOTECH LTD.

    Consolidated Balance Sheets
    (Unaudited)
    (Expressed in U.S. Dollars)

                                          September 30,           December 31,
                                              2009                    2008

    ASSETS

    Current assets
     Cash and cash equivalents            $46,579,789           $32,894,102
     Accounts receivable - net             36,917,624            19,486,596
     Inventories                           13,541,462             6,486,351
     Income tax refundable                          -               348,018
     Prepaid expenses and deposits            877,260               933,297
     Deferred tax assets                      678,620             1,189,831

    Total current assets                   98,594,755            61,338,195

    Property, plant and equipment          21,426,879            19,262,099
    Long term inventories                   3,110,828               942,514
    Deferred tax asset                        532,854               569,937
    Licenses and permits                      794,567             1,090,477

    Total assets                         $124,459,883           $83,203,222

    LIABILITIES AND STOCKHOLDERS' EQUITY

    Current liabilities
     Loans payable                        $21,937,522            $8,024,277
     Accounts payable and accrued
      liabilities                          14,301,303            11,909,037
     Income tax payable                     2,962,831                     -
     Due to related  parties                   46,971                46,971
     Dividends payable to
      non-controlling shareholder
      of Sinovac Beijing                      115,957               115,677
     Deferred tax liability                   768,876                     -
     Deferred research grants               1,051,099             1,182,703

    Total current liabilities              41,184,559            21,278,665

    Deferred  government grants             2,690,382             2,836,994
    Loan payable                                    -             2,188,439
    Deferred revenue                        9,798,760                     -

    Long-term debt                         12,489,142             5,025,433

    Total liabilities                      53,673,701            26,304,098

    Commitments and contingencies

    STOCKHOLDERS' EQUITY

    Preferred stock                                -                      -
     Authorized 50,000,000 shares
      at par value of $0.001 each
     Issued and outstanding: nil
    Common stock                               42,584                42,894
     Authorized: 100,000,000 shares
      at par value of $0.001 each
     Issued and outstanding:
      42,583,761(2008- 42,893,928 )
    Additional paid in capital             42,299,500            41,629,506
    Accumulated other comprehensive
     income                                 4,218,717             4,143,225
    Dedicated reserves                      5,549,684             5,549,684
    Retained earnings (accumulated
     deficit)                               9,407,160            -1,651,534

    Total stockholders' equity             61,517,645            49,713,775
    Non-controlling interest                9,268,537             7,185,349

    Total equity                           70,786,182            56,899,124

    Total liabilities and equity         $124,459,883           $83,203,222



    SINOVAC BIOTECH LTD.
    Consolidated Statements of Income and Comprehensive Income
    Three Months and Nine Months Ended September 30, 2009 and 2008
    (Unaudited)
    (Expressed in U.S. Dollars)

                                  Three months ended         Nine months ended
                                     September 30              September 30
                                   2009         2008         2009         2008

    Sales                   $21,224,685   $8,753,671  $47,809,111  $34,137,101

    Cost of sales -
     (exclusive of
     depreciation of
     land -use rights and
     amortization of
     licenses and permits
     of $104,732 (2008 -
     $102,742) for three
     months and $314,081
     (2008- $202,575)
     for nine months          3,675,695    1,658,862    8,886,251    5,320,667

    Gross profit             17,548,990    7,094,809   38,922,860   28,816,434

    Selling, general
     and administrative
     expenses                 3,519,977    3,791,916   11,927,879   13,408,452

    Research and
     development
     expenses - net of        1,443,834      811,901    2,753,009    2,408,745
     $133,176 (2008-
     $16,829) for three
     months and $261,861
     (2008- $147,958) for
     nine months in
     government
     research grants

    Depreciation of
     property, plant
     and equipment and
     amortization of
     licenses and
     permits                    179,962      178,404      511,835      526,117

    Total operating
     expenses                 5,143,773    4,782,221   15,192,723   16,343,314

    Operating income         12,405,217    2,312,588   23,730,137   12,473,120

    Interest and
     financing expenses        (246,036)    (189,935)    (571,349)   (747,496)
    Interest income
     and other income
     (expenses)                  77,300       58,456      243,451     (36,685)

    Income  before
     income taxes and
     non-controlling
     interest                12,236,481    2,181,109   23,402,239   11,688,939

    Income taxes
     recovery (expense)
     - Current               (3,230,985)  (1,005,174)  (5,026,902) (4,229,613)
     - Deferred                (551,478)      94,028   (1,399,428)     991,461

    Consolidated net
     income for the
     period                   8,454,018    1,269,963   16,975,909    8,450,787

    Less: net income
     attributable to
     non-controlling
     interest                (3,228,659)    (530,084)  (5,917,215) (2,814,703)

    Net income
     attributable to
     the stockholders        $5,225,359     $739,879  $11,058,694   $5,636,084

    Net income for the
     period                  $8,454,018    1,269,963   16,975,909    8,450,787

    Other comprehensive income
    Foreign currency
     translation
     adjustment                  64,108       33,637       90,728    2,358,956

    Total comprehensive
     income                   8,518,126    1,303,600   17,066,637   10,809,743
    Less: comprehensive
     income attributable
     to non-controlling
     interest                 3,229,599      522,960    5,932,451    2,889,658

    Comprehensive income
     attributable to
     stockholders            $5,288,527     $780,640  $11,134,186   $7,920,085

    Earnings per share
     - basic and
     diluted                      $0.12        $0.02        $0.26        $0.13

    Weighted average
     number of shares of
     common stock
     outstanding
    - Basic                  42,428,755   42,873,511   42,574,921   42,299,187
    - Diluted                43,631,572   43,142,788   42,758,104   42,638,584




    SINOVAC BIOTECH LTD.
    Consolidated Statements of Cash Flows
    Three Months and Nine Months Ended September 30, 2009 and 2008
    (Unaudited)
    (Expressed in U.S. Dollars)

                                    Three Months ended       Nine Months ended
                                        September 30            September 30
                                    2009         2008         2009        2008

    Cash flows from (used in)
      operating activities
     Net Income for the
      period                  $8,454,018   $1,269,963  $16,975,909  $8,450,787
     Adjustments to
      reconcile net
      income to net cash
      used by operating
      activities:
     - deferred income
      taxes                      551,478     (94,028)    1,399,428   (991,461)
     - loss (income) On
       disposal fixed
       assets                        641        2,249      (6,708)       2,249
     - stock-based
       compensation              180,152       16,635      308,195      49,907
     - provision for
       doubtful debts         (1,595,787)     408,289      717,137   1,968,207
     - depreciation
       of property,
       plant and
       equipment, and
       amortization of
       licenses                  529,957      517,751    1,394,064   1,298,314
     - research and
       development
       expenditures
       qualified for
       government grant         (133,176)     (16,829)   (261,861)   (147,677)
     Change in other
      assets and
      liabilities
     - accounts
       receivable             (3,545,198)    4,718,247 (18,088,750)(8,650,832)
     - inventories            (4,063,146)  (1,620,126)  (9,198,785)(3,934,756)
     - income tax
       refundable
       (payable)               3,482,345             -   3,309,317           -
     - prepaid
       expenses and
       deposits                 (197,728)      273,079      58,098     188,789
     - advance from
       stockpiling
       program                   147,160             -   9,791,728           -
      - accounts
       payable and
       accrued
       liabilities             3,646,229   (2,168,844)   2,362,439   1,973,562

    Net cash
     provided by
     operating
     activities                7,456,945     3,306,386   8,760,211     207,089

    Cash flows from
     (used in)
     Financing
     activities
     Loan proceeds                     -   (3,572,010)  16,074,281           -
     Loan repayment           (4,384,356)    2,143,206 (4,384,356) (3,572,010)
     Proceeds from
      issuance of
      common stock               693,285             -     693,285   2,143,206
     Repurchase of
      common shares                    -             -   (335,831)   9,854,560
    Loan repayment
      from non-
      controlling
      shareholder of
      Sinovac Beijing          1,461,298             -           -           -
     Proceeds from
      shares subscribed            4,035        20,060       4,035      20,060
     Dividends paid
      to non-
      controlling
      shareholder of
      Sinovac Beijing         (3,846,501)            - (3,846,501) (2,947,877)
     Government grant
      received                   171,326       143,626     171,326     214,321

    Net cash
     provided by (used
     in) financing
     activities               (5,900,913)   (1,265,118)  8,376,239   5,712,260

    Cash flows from
      (used in) investing
      activities
     Restricted cash                   -       434,196           -       (725)
    Acquisition of
     property, plant
     and equipment            (1,718,443)   (1,046,849) (3,480,444)(3,283,424)

    Net cash used in
     investing
     activities               (1,718,443)     (612,653) (3,480,444)(3,284,149)

    Exchange effect
     on cash and
     equivalents                  37,748       303,614      29,681     845,803

    Increase
     (decrease) in
     cash and cash
     equivalents                (124,663)     1,732,229  13,685,687  3,481,003

    Cash and cash
     equivalents,
     beginning of
     period                   46,704,452    18,820,271  32,894,102  17,071,497

    Cash and cash
     equivalents, end
     of period               $46,579,789   $20,552,500 $46,579,789 $20,552,500

    Cash paid for
     interest, net of
     interest
     capitalized                $285,423      $150,657    $615,691    $456,665

    Cash paid
     (received) for
     income taxes              $(251,359)    $1,502,166  $1,717,585 $2,812,129

To access the conference call, please dial 1-877-407-4018 (USA) or 1-201-689-8471 (international). A replay of the call will be available from 12:00 p.m. ET on November 16, 2009 to November 30, 2009 at midnight. To access the replay, please dial 1-877-660-6853 (USA) or 1-201-612-7415 (international) and reference the account number 3055 and the access code 337401.

A live audio webcast of the call will also be available from the Investors section on the corporate web site at http://www.sinovac.com . A webcast replay can be accessed on the corporate website beginning November 16, 2009 and the replay will remain available for 30 days.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccine products, including Healive® (hepatitis A), Bilive® (combined hepatitis A and B), Anflu® (influenza), Panflu(TM), Sinovac's pandemic influenza vaccine (H5N1), and PANFLU.1(TM), Sinovac's H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal rabies vaccines.

    For more information, please contact:

     Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

    Media:
     Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7033
     Email: jmccargo@theruthgroup.com

    Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

The latest 5.19 million dose purchase order is in addition to an initial order for 3.3 million doses and second order for 3 million doses received by Sinovac from the Ministry of Industry and Information Technology of China on September 4, 2009 and September 30, 2009, respectively, for a total of 11.49 million doses.

Separately, Sinovac also announced today that it competed and successfully won the bidding process to supply its seasonal flu vaccine, Anflu, to the Shanghai government. This marks Sinovac's entry into a new public market for its seasonal flu vaccine. The purchase plan from the Shanghai government reflects an expansion of government purchase programs for the seasonal flu vaccine. As part of the beneficial policies for citizens of Shanghai, certain Shanghai citizens will receive inoculation against influenza for free or with certain allowances.

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, commented, "We are very proud to be supplying our H1N1 vaccine to the Chinese government and are confident that we can complete the national H1N1 vaccine stockpiling task in a timely manner. We continue to work towards our goal of providing citizens of China with affordable, international-quality vaccines. The agreement with the Shanghai Municipal Center for Disease Control and Prevention brings us closer to our goal as it opened up another important public market in China."

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccine products include Healive® (hepatitis A), Bilive® (combined hepatitis A and B), and Anflu® (influenza). Panflu® and PANFLU.1, Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal rabies vaccines.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors 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.

    For more information, please contact:

    Sinovac Biotech Ltd.:
     Helen G. Yang
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

    Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

    Media:
     Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7033
     Email: jmccargo@theruthgroup.com

PANFLU.1 is the first China-developed vaccine approved for human use in Mexico and the first H1N1 vaccine to be registered in Mexico. Sinovac will need to obtain permission from the Chinese government prior to exporting its H1N1 vaccine to Mexico. Sinovac is in the process of fulfilling existing orders for a total of 6.3 million doses of PANFLU.1 for the Chinese central government. As previously announced, Sinovac expects to complete the delivery of 4.5 million doses to the Chinese central government by the end of October.

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, commented, "Receiving the certificate of approval to distribute PANFLU.1 in Mexico is a significant milestone for Sinovac. Importantly, this approval is a continuation of our corporate strategy to register and distribute our vaccines in international markets through strategic collaborations. We appreciate the ongoing efforts of our distribution partner, Laboratorios Imperiales, who has worked closely with the Mexican authorities to obtain this certificate of approval. We will continue to collaborate closely with authorities in China and Mexico in order to facilitate the distribution of PANFLU.1, and potentially other vaccines in our portfolio, in this important market."

To date, there have been 45,809 confirmed cases of H1N1 pandemic influenza in Mexico, of which 271 have died.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccine products include Healive® (hepatitis A), Bilive® (combined hepatitis A and B), and Anflu® (influenza). Panflu(TM), Sinovac's pandemic influenza vaccine (H5N1), has already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal rabies vaccines.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors 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.

    For more information, please contact:

     Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

    Investors:
     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017
     Email: aglynn@theruthgroup.com
            scarrington@theruthgroup.com

    Media
     Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7033
     Email: jmccargo@theruthgroup.com