v3.26.1
Impairment of Goodwill and IPR&D from Acquisition (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination [Abstract]  
Summary of Assets Recognized and Liabilities Assumed

The following table summarizes the amounts recognized for assets acquired and liabilities assumed as of the acquisition date:

 

 

 

 

USD

 

 

RMB

 

 

Net assets acquired:

 

 

 

 

 

 

 

IPR&D

 

$

113,645

 

 

$

829,527

 

 

Property, plant and equipment

 

 

10,766

 

 

 

78,585

 

 

Right-of-use assets

 

 

2,809

 

 

 

20,504

 

 

Cash and cash equivalents

 

 

10,188

 

 

 

74,368

 

 

Intangible assets

 

 

80

 

 

 

584

 

 

Other current and non-current assets

 

 

693

 

 

 

5,056

 

 

Other current and non-current liabilities

 

 

(42,800

)

 

 

(312,410

)

 

Goodwill

 

 

27,508

 

 

 

200,786

 

 

Total consideration

 

$

122,889

 

 

$

897,000

 
Summary of Changes in the Carrying Amount of Goodwill

The changes in the carrying amount of goodwill are as follows:

 

 

 

Goodwill

 

 

Transaction in 2024

 

 

 

 

Acquisition of Sinovac Chengdu

 

$

27,508

 

 

Balance as of December 31, 2024

 

 

 

 

Goodwill

 

 

27,508

 

 

 

 

$

27,508

 

 

 

 

 

 

 

Transaction in 2025

 

 

 

 

Impairment

 

$

(15,686

)

 

Foreign currency translation adjustments

 

 

782

 

 

Balance as of December 31, 2025

 

 

 

 

Goodwill

 

 

28,728

 

 

Accumulated impairment losses

 

 

(16,124

)

 

 

 

$

12,604