1. Basis of Presentation These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). They include the accounts of Sinovac Biotech Ltd., which is incorporated under the laws of Antigua and Barbuda, and its wholly owned or controlled subsidiaries (collectively, the “Company”). All significant intercompany transactions have been eliminated. Details of the Company’s significant subsidiaries are as follows:
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Name |
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Date of incorporation or establishment |
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Place of incorporation (or establishment) /operation |
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Percentage of ownership as of December 31, 2023 |
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Percentage of ownership as of December 31, 2022 |
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Principal activities |
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Sinovac Biotech (Hong Kong) Limited (“Sinovac Hong Kong”) |
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October 2008 |
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Hong Kong |
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100 |
% |
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100 |
% |
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International sales and marketing |
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Sinovac Biotech Co., Ltd. (“Sinovac Beijing”) |
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April 2001 |
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People’s Republic of China (“PRC”) |
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73.09 |
% |
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73.09 |
% |
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Research and development, production and sales of vaccine products |
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Sinovac Life Sciences Co., Ltd. (“Sinovac LS”) (formerly Sinovac Research & Development Co., Ltd.) |
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May 2009 |
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PRC |
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59.24 |
% |
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59.24 |
% |
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Research and development, production and sales of vaccine products |
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Sinovac (Dalian) Vaccine Technology Co., Ltd. (“Sinovac Dalian”) |
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January 2010 |
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PRC |
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68 |
% |
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68 |
% |
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Research and development, production and sales of vaccine products |
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Sinovac Biomed Co., Ltd. ("Sinovac Biomed") |
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April 2015 |
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PRC |
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100 |
% |
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100 |
% |
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Distribution of vaccine products |
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Sinovac Biotech (Singapore) Pte. Ltd. ("Sinovac Singapore") |
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August 2020 |
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Singapore |
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100 |
% |
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100 |
% |
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International sales and marketing |
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