1. Description of Business Sinovac Biotech Ltd. ("Sinovac") is an Antigua and Barbuda incorporated holding company. Together with its wholly-owned and controlled subsidiaries (collectively referred to as the "Company"), it operates as a fully integrated China-based biopharmaceutical company that focuses on the research and development, manufacturing, and commercialization of vaccines for the prevention of human infectious diseases, including certain diseases with significant unmet medical needs. The Company has successfully developed a comprehensive vaccine portfolio covering hepatitis A, hepatitis B, hand, foot and mouth disease ("HFMD") caused by enterovirus 71 ("EV71"), seasonal and pandemic influenza, COVID-19, pneumococcal disease, poliomyelitis, mumps, varicella, rabies and tetanus. As of December 31,2025 and 2024, the Company's significant subsidiaries are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Name |
|
Date of
incorporation
or
acquisition |
|
Place of
incorporation
(or
establishment)
/operation |
|
Percentage of
ownership
as of
December
31, 2025 |
|
|
Percentage of
ownership
as of
December
31, 2024 |
|
|
Principal activities |
|
Sinovac Biotech (Hong Kong) Limited
("Sinovac Hong Kong") |
|
October 2008 |
|
Hong Kong SAR, China |
|
|
100.00 |
% |
|
|
100.00 |
% |
|
International sales
and marketing |
|
Sinovac Biotech Co., Ltd.
("Sinovac Beijing") |
|
April 2001 |
|
People's
Republic of
China ("PRC") |
|
|
73.09 |
% |
|
|
73.09 |
% |
|
Research and development,
production and sales of
vaccine products |
|
Sinovac Life Sciences Co., Ltd.
("Sinovac LS")
(formerly Sinovac Research &
Development Co., Ltd.) |
|
May 2009 |
|
PRC |
|
|
59.24 |
% |
|
|
59.24 |
% |
|
Research and development,
production and sales of
vaccine products |
|
Sinovac (Dalian) Vaccine
Technology Co., Ltd.
("Sinovac Dalian") |
|
January 2010 |
|
PRC |
|
|
68.00 |
% |
|
|
68.00 |
% |
|
Research and development,
production and sales of
vaccine products |
|
Sinovac Biomed Co., Ltd.
("Sinovac Biomed") |
|
April 2015 |
|
PRC |
|
|
100.00 |
% |
|
|
100.00 |
% |
|
Distribution of
vaccine products |
|
Sinovac Holding Group Co., Ltd.
("Sinovac Beijing Holding") |
|
June 2024 |
|
PRC |
|
|
100.00 |
% |
|
|
100.00 |
% |
|
Regional holding company |
|
Sinovac Business Services
(Dalian) Co., Ltd. |
|
January 2024 |
|
PRC |
|
|
100.00 |
% |
|
|
100.00 |
% |
|
Shared Service Center |
|
Sinovac Biotech (Singapore) Pte. Ltd.
("Sinovac Singapore") |
|
August 2020 |
|
Singapore |
|
|
100.00 |
% |
|
|
100.00 |
% |
|
International sales
and marketing |
|
Sinovac (Chengdu) Biotech Co., Ltd.
("Sinovac Chengdu") |
|
September 2024 |
|
PRC |
|
|
100.00 |
% |
|
|
100.00 |
% |
|
Research and development,
production and sales of
vaccine products |
|