Restore Fairness and Deliver Value to All SINOVAC Shareholders

A vote to keep the current SINOVAC Board in place is a vote for shareholder justice and corporate accountability. Vote on the WHITE proxy card "AGAINST" Proposal 1 and Proposal 2.

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The SINOVAC Board is Committed to Delivering Real Value to Shareholders

It's simple: Stop the self-dealing and mismanagement, protect your investment.

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1. Declaration of Dividends. 

SAIF’s proxy statement says it is in favor of dividends, but the remnant of the Imposter Former Board it seeks to elect never declared a dividend during the seven years it was empowered to do so.

To quote the Imposter Former Board following the authorization of over US$1 billion in dividend distributions from 2021 to 2023 to Advantech, Vivo Capital and certain members of the Former Management Buyout Consortium (from the Company’s 2023 20-F filed in April 2024): ​

“We have never declared or paid any dividends, nor do we have any present plan to pay any cash dividends on Sinovac Antigua’s shares in the foreseeable future. We currently intend to retain most, if not all, of our available funds and any future earnings to operate and expand our business.”

Why the sudden change of heart?

Instead, in just four months since being installed following the Privy Council ruling, the Current SINOVAC Board has already demonstrated commitment to dividends by:

  • Declaring a US$55.00 per common share special cash dividend.
  • Vigorously defending against Advantech/Prime and Vivo Capital’s attempts to delay payment of the special dividend.
  • Accelerating the payment date to July 7th – before the Special Meeting.
  • Intending to return an additional US$11.00 per common share promptly following cancellation of the unauthorized PIPE shares acquired by Advantech/Prime and Vivo Capital.
  • Deciding to declare a second special cash dividend after the Special Meeting of US$19.00 per common share, thereby making further amends for the billions of subsidiary dividends looted by certain members on SAIF’s Reconstituted Imposter Former Board Slate. If the PIPE shares are cancelled, the valid SINOVAC shareholders will receive an additional US$3.73 per common share.
  • Adopting a policy to issue regular dividends out of surplus cash above the amount needed to properly capitalize the Company and fund its operations. Based on a preliminary analysis, we believe between US$20.00 – US$50.00 per common share that could be distributed to SINOVAC shareholders in the future.

SINOVAC shareholders, be sure to check the dividend scoreboard before you vote.
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2. Resumption of Good Relations with NASDAQ and Regulators.

SAIF's proxy notes SINOVAC shares have not traded for more than six years.

What SAIF's proxy fails to mention is that the trading halt is the direct result of self-dealing transactions undertaken by the very directors SAIF seeks to reseat.

The facts:

  • In 2018, the Imposter Former Board triggered the unlawful poison pill and issued dilutive shares, directly causing the NASDAQ trading halt in February 2019.
  • These same directors presided over sham transactions and material weaknesses in financial reporting leading to the resignation of Grant Thornton, SINOVAC’s independent auditor, and causing further delays in the resumption of trading on NASDAQ.
  • The frivolous lawsuits filed by Advantech/Prime and Vivo Capital make the process of hiring an auditor firm challenging.
  • Promptly after being reinstated, the current SINOVAC Board engaged with senior officials at NASDAQ to regain compliance with listing standards and resume trading.
  • These discussions have yielded full cooperation from the staff of NASDAQ in connection with the US$55.00 per share special cash dividend.
  • The current SINOVAC Board has launched a formal exploration of a potential future listing of SINOVAC’s shares on the Hong Kong exchange in order to promote liquidity, mitigate geopolitical risk and maximize long term shareholder value with potential to achieve significant value creation for shareholders once listed.

In four short months, the current SINOVAC Board has made significant progress unwinding years of compliance shortcomings that directly led to the trading halt that occurred on the watch of the very directors SAIF seeks to reseat.

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3. Protecting Valid SINOVAC Shareholders and Paying Dividends in the Face of Continuous Lawfare Waged by Advantech/Prime and Vivo Capital.
  • SINOVAC has been saddled with multiple lawsuits since 2018 because of the shady and self-dealing of Advantech/Prime, Vivo Capital and certain other members of the former Management Buyout Group and Imposter Former Board.
  • The UK Privy Council provided a path forward for SINOVAC and its shareholders when it kicked out the Imposter Former Board, including the very directors SAIF now seeks to reseat, in favor of the current SINOVAC Board that SAIF seeks to remove.
  • Advantech/Prime and Vivo Capital, undeterred by the final, non-appealable ruling of the UK Privy Council, continued their campaign against SINOVAC and its valid shareholders, seeking to “double dip” on dividend distributions at the expense of SINOVAC’s valid shareholders.
  • Most recently, Advantech/Prime brought an action in New York to interfere with the current SINOVAC Board’s payment of the US$55.00 per share special cash dividend as scheduled. Their petition was swiftly DENIED by the Court -- marking a win for the current SINOVAC Board.

The current SINOVAC Board intends to redistribute to SINOVAC’s rightful shareholders an additional US$11.00 per share dividend payment allocable to the PIPE shares held by Advantech/Prime and Vivo Capital to valid SINOVAC shareholders upon cancellation of the PIPE shares at the conclusion of the legal proceedings.

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4. Strategic Realignment for Shareholder Value Creation.
  • In four short months since being installed by the Privy Council ruling, the current SINOVAC Board has taken bold steps to cancel invalid transactions undertaken by the very directors SAIF seeks to reseat and break a multi-year pattern of self-dealing that allowed Advantech/Prime, Vivo Capital and their cronies to loot billions of dollars from SINOVAC while common SINOVAC shareholders received nothing.
  • In addition to dividends, the SINOVAC Board is focused on maximizing long-term value and enhancing governance by:
    • Accelerating the resumption of trading on NASDAQ and formally exploring a future listing on The Stock Exchange of Hong Kong and potentially other exchanges.
    • Holding an annual meeting of shareholders in the second quarter of 2026 and nominating a full slate of highly-qualified and independent directors for election.
    • Executing a global growth strategy to expand SINOVAC's business in China and globally, leveraging our position as a leading provider of vaccine products.

Protect your dividends and maximize the value of your shares. Vote AGAINST removal of the current SINOVAC Board.

Detailed Chronology of Key Facts and Issues

Important Notice

Cautionary Statement Regarding Forward Looking Statements 

Certain statements in this website are “forward-looking statements.” These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this website, including statements as to our future performance, financial position, strategic initiatives and our upcoming Special Meeting, are forward-looking statements. These statements can be generally identified by terms such as “expect,” “plan,” “goal,” “target,” “anticipate,” “assume,” “predict,” “project,” “outlook,” “continue,” “due,” “may,” “believe,” “seek,” or “estimate” and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as “will,” “should,” “would,” “likely” and “could.” However, the absence of these words does not mean that a statement is not forward-looking. These statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events, financial trends and risks and uncertainties that we believe may affect our business, financial condition and results of operations. These statements are not guarantees of future events or performance, and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. 

The forward-looking statements contained in this website are subject to risks and uncertainties, including those more fully described in SINOVAC’s filings with the Securities and Exchange Commission. Except as required by law, SINOVAC is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

I Agree