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Declaration of Board of Directors of Sinovac Biotech Co., Ltd.


To safeguard the legitimate interests of Sinovac Biotech Ltd. and its
shareholders, the Current Board hereby makes the following statements:

  1. After the AGM, the Former Board were no longer the Company's directors
    and any actions taken by the Former Board on behalf of the Company are
    unlawful, have no legal effect and are against the best interests of
    the Company's shareholders. Therefore, the Former Board has no
    authority to take the following actions (the "Unauthorized Actions"),
    among others:
    1. To act in any manner on behalf of or in the name of the Company,
      including with respect to signing or certifying financial
      statements or public filings with the U.S. Securities and Exchange
      Commission in any capacity as an officer or director of the
      Company or otherwise on behalf of the Company. Both Mr. Yin and
      Ms. Wang were removed from their positions by the Current Board on
      February 7, 2018 and as of that time are no longer authorized to
      act in any capacity in the name of or on behalf of the Company.
    2. To issue restricted shares on March 7, 2018 to Weidong Yin, Nan
      Wang, Xiaomei Yinand others as disclosed in the Company's 2017
      annual report. In particular, Mr. Weidong Yin, one of the Former
      Board who was previously implicated of bribing a Chinese
      government official, received 160,000 restricted shares, and Ms.
      Nan Wang, the Company's former CFO who together with Mr. Yin is
      responsible for the failure to file Company's 2016 annual report
      per SEC rules, also received 160,000 restricted shares. Given that
      the closing price of Sinovac's stock on March 7, 2018 was $8.25,
      the Former Board fraudulently and unlawfully awarded Mr. Weidong
      Yin and Ms. Nan Wang 320,000 restricted shares with a cash value
      of US$2.64 million—despite the fact that both of these individuals
      were removed from office by the Current Board and are no longer
      employed by the Company and, in Mr. Yin's case, convicted of
      illegal conduct.
    3. To execute and consummate the Securities Purchase Agreement (the
      "SPA") by and among the Company, Vivo Capital, LLC and Prime
      Success, L.P. dated July 2, 2018, and to issue and sell to Vivo
      Capital, LLC and Prime Success, L.P., two members of the buyout
      consortium led by Mr. Weidong Yin, a total of 11,800,000 common
      shares of the Company, at a discount price of $7.35 per share as
      contemplated in the SPA (the "PIPE Transaction") in the setting of
      other compelling offer of 8.0 per share.
    4. To increase the size of the board of directors and add Mr. Shan Fu
      onto the board of directors as contemplated in the SPA.
  2. The Current Board, acting on behalf of the Company and its
    shareholders, renounce any and all such Unauthorized Actions. The New
    Board is considering all available options and legal remedies in
    response to the Unauthorized Actions.
  3. The Company is in good financial condition and the Current Board
    believes that the Company does not need any form of financing. In
    fact, the Company achieved profitability in 2017. In addition, the
    production facility for sIPV-based combination vaccine has been
    completed and put in use in 2017 and the Company has no plan to build
    new production facility. The press release issued by the Former Board
    on July 3, 2018, which claimed that the proceeds from the PIPE
    Transaction would be used to build production facility for sIPV-based
    combination vaccine, is misleading. The Current Board believes that
    the PIPE Transaction unlawfully designed by the Former Board was an
    effort to achieve Mr.Yin Weidong and his buyout consortium's ultimate
    goal of acquiring the company at a discount against the interests of
    existing shareholders. By issuing these new shares, the Former Board
    retaliated against the current shareholders who voted against the
    Former Board at the AGM with the real purpose of diluting those
    shareholders rather than a proper financing purpose..
  4. The Current Board hereby declares that any action taken by the
    Former Board concerning the operation and corporate governance of
    Sinovac is unlawful, has no legal effect, and against the best
    interests of the Company's shareholders
    . No person or group
    shall take actions on behalf of Sinovac without the approval and
    authorization of the Current Board elected by shareholders on Feb 6
    , 2018.

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