Exhibit 99.1
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    SINOVAC BIOTECH LTD. COMPLETES THE ACQUISITION OF AN ADDITIONAL 20.56% OF
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                     SINOVAC (BEIJING) OPERATING SUBSIDIARY
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BEIJING,  February 9, 2004 - Sinovac  Biotech Ltd.  ("Sinovac")  ("the Company")
(AMEX - SVA)  announces  that as of  February  4th  2005  it has  completed  the
acquisition of an additional 20.56% of its Beijing-based  operating  subsidiary,
Sinovac Biotech Co., Ltd. ("Sinovac (Beijing)") for approximately US $3,310,000.
Sinovac's  intention to make this purchase was previously  announced on December
10, 2004.

Sinovac's  holdings now include nearly 72% of Sinovac  (Beijing) and 100% of the
Tangshan  Yian R&D and  production  facility.  The  Tangshan  Yian  facility was
acquired by Sinovac in February 2004 and is now a 100% owned  subsidiary.  China
Bioway Biotech Group ("China Bioway"), a subsidiary of Beijing University,  owns
the remaining 28% of Sinovac (Beijing).

Per the  purchase  agreement,  Sinovac  paid  cash  for the  20.56%  of  Sinovac
(Beijing),  to the  following  companies:  acquired  9.73% of from China  Bioway
Biotech Group Co., Ltd. for US$1,570,000;  acquired 7.92% from Shenzhen Bio-Port
Co., Ltd. for US$1,270,000; and acquired 2.91% from Beijing Keding Co., Ltd. for
US$470,000.

Dr. Wei Dong Yin,  president of Sinovac,  commented,  "We are  delighted to have
increased  the ownership of Sinovac in its key Beijing  operating  subsidiary to
almost 72%. If possible,  we will endeavour to purchase  further  interests from
China Bioway at an attractive valuation as we continue to implement our business
strategy and to further set the foundation for building value for Sinovac public
company shareholders. Beyond the increased interest in Sinovac (Beijing) and the
Tangshan  Yian  acquisition,  Sinovac is looking  for and  evaluating  potential
synergistic  and  accretive  acquisition  targets in the vaccine  industry  that
complement Sinovac's current vaccine portfolio."


About Sinovac Biotech Ltd.
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Sinovac    Biotech   Ltd.    specializes    in   the   research,    development,
commercialization,  and sales of human vaccines for infectious illnesses such as
hepatitis A and hepatitis B, influenza,  SARS, and avian flu.  Sinovac is one of
the leading emerging biotechnology companies in China.

Sinovac now has two vaccines fully approved for sale in China - Healive(TM)  for
Hepatitis A and Bilive(TM) for Hepatitis A&B combined.  The Hepatitis A vaccine,
Healive(TM),  is currently  experiencing strong sales growth in China. Sinovac's
Hepatitis  A&B  combined  vaccine,  Bilive(TM),  has just  received  approval to
commence  sales in China and is  expected  to achieve  similar  sales  growth to
Healive(TM).  The Company's flu vaccine completed  clinical trials in April 2004
and a New Drug Application has been filed with the Chinese FDA (SFDA).  Approval
of  Sinovac's  flu  vaccine is  expected  in 2005 upon  completion  of a new flu
vaccine production line.

Sinovac  currently  leads the world in the  development  of a human  vaccine  to
prevent  SARS.  Preliminary  Phase I clinical  trial results show that this SARS
vaccine is safe and induces  SARS-neutralizing  antibodies in the human body. In
addition,  the Company is co-developing a human vaccine  targeting the avian flu
virus in partnership with China CDC.


For further  information  please refer to the Company's  filings with the SEC on
EDGAR or refer to Sinovac's website at www.sinovac.com.
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If you would like to receive  regular  updates on Sinovac please send your email
request to info@sinovac.com.
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Contact:  Investor Relations at (888) 888-8312 or 1 604 684-5990 from outside of
North America or info@sinovac.com
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THIS NEWS RELEASE MAY INCLUDE  FORWARD-LOOKING  STATEMENTS WITHIN THE MEANING OF
SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION
21E OF THE UNITED STATES  SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED,  WITH
RESPECT  TO  ACHIEVING  CORPORATE  OBJECTIVES,   DEVELOPING  ADDITIONAL  PROJECT
INTERESTS,   SINOVAC'S   ANALYSIS  OF   OPPORTUNITIES  IN  THE  ACQUISITION  AND
DEVELOPMENT  OF VARIOUS  PROJECT  INTERESTS  AND CERTAIN  OTHER  MATTERS.  THESE
STATEMENTS  ARE MADE UNDER THE "SAFE  HARBOR"  PROVISIONS  OF THE UNITED  STATES
PRIVATE  SECURITIES  LITIGATION  REFORM  ACT  OF  1995  AND  INVOLVE  RISKS  AND
UNCERTAINTIES  WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER  MATERIALLY FROM THOSE
IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.