BEIJING, Nov. 28, 2018-Senior management of SinovacBiotech Ltd. (NASDAQ: SVA) ('Sinovac' or the 'Company') and the lawfuldirectors of SinovacHong Kong, Mr. Yin Weidongand Ms. Wang Nan('Lawful Directors'), have been granted declaratory orders and permanent injunctive relief against Mr. Li Pengfei ('Mr. Li') and Mr. Cao Jianzeng ('Mr. Cao') by the High Court of the Hong Kong Special Administrative Region('Hong Kong High Court'). Mr. Li and Mr. Cao have appealed the decision to the Court of Appeals.

As described in a press release issuedby the Companyon October 22, SinovacBiotech (Hong Kong) Limited('SinovacHK')was granted an interim injunction on October 19, 2018 in the Hong Kong High Court proceedings brought by the Lawful Directors to nullify and remove forged documents that were illegally filed with the Hong Kong Companies Registry('Companies Registry'), the Hong Kong government body responsible for maintaining official company records. These forged documents were also used in an attempt to unlawfully remove the Lawful Directors of SinovacHK's subsidiary, SinovacBiotech Co., Ltd. ('SinovacBeijing')and to deceive the Industryand Commerce Bureau of Beijing into believing that the board of SinovacBeijing had been reconstituted.

On November 28,2018 at a further hearing in the Hong Kong High Court, the Hong KongHighCourtheld thatit is beyond dispute that the documents in respect of SinovacHK hadbeenforged and unlawfully filed with the Hong Kong Companies Registry, based on the evidence filedby Mr. Cao, Mr. Li and the Lawful Directors. The Hong Kong High Court therefore declared that Mr. Yin Weidongand Ms. Wang Nan were and still are the lawful directors of SinovacHK, and Mr. Li and Mr. Cao were not and are not the lawful directors of SinovacHK.

The Hong Kong High Court alsogranted a permanentinjunctionrestraining Mr. Li and Mr. Cao from purporting to act or holding themselves out as directors of SinovacHKorits subsidiaries(including but not limited to SinovacBeijing), purporting to take any actions as directors of SinovacHK orits subsidiaries, and relying on or using the forgeddocuments in any way whatsoever.

Furthermore, the Hong Kong High Court also ordered theCompanies Registryto remove the forgeddocuments in respect of SinovacHK that hadbeenunlawfully filed. The Companies Registryhad indicated prior to the November 28, 2018 hearing that itdidnot oppose the applicationmade by the Lawful Directorsand agreed to the terms of the draft Ordersought by the Lawful Directors.

The Board of Directors and management of Sinovacare vigorously protecting the rights of all shareholders in all applicable courts. Sinovachas also petitioned in the High Court ofJustice in Antigua and Barbudafor 1Globe Capital LLC ('1Globe') to be restrained from making any attempt to take control of the Company or in any way undermine the court's authority in the existing litigation between 1Globe and the Company.

About Sinovac

SinovacBiotech Ltd. is a China-based biopharmaceutical Company that focuses on the research, development, manufacturing and commercialization of vaccines that protect against human infectious diseases. Sinovac'sproduct portfolio includes vaccines against enterovirus71, or EV71, hepatitis A and B, seasonal influenza, H5N1 pandemic influenza (avian flu), H1N1 influenza (swine flu), and mumps. Healive, the hepatitis A vaccine manufactured by the Company has passed the assessment under WHO Prequalification procedures in 2017. The EV71 vaccine, an innovative vaccine developed by Sinovacagainst hand foot and mouth disease caused by EV71, was commercialized in China in 2016. In 2009, Sinovacwas the first company worldwide to receive approval for its H1N1 influenza vaccine, which it has supplied to the Chinese Government's vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine to the government stockpiling program. The Company is developing a number of new products including a Sabin-strain inactivated polio vaccine, pneumococcal polysaccharides vaccine, pneumococcal conjugate vaccine and varicella vaccine. Sinovacprimarily sells its vaccines in China, while also exploring growth opportunities in international markets. The Company has exported select vaccines to over 10 countries in Asia and South America. For more information please refer to the Company's website at www.sinovacbio.com.

Safe Harbor Statement

This announcement may include certain statements that are not descriptions of historical facts, but are forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates' and similar statements. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements.

Investor Contacts:

SinovacBiotech Ltd.

Helen Yang

Tel: +86-10-8279-9871

Fax: +86-10-6296-6910

Email: ir@sinovac.com

ICR

Bill Zima

Tel: +1-646-308-1707

Email: william.zima@icrinc.com

Media Contact:

Abernathy MacGregor

Sheila Ennis

Tel: +1-415-745-3294

Email: sbe@abmac.com

China Media Contact:

ICR

Edmond Lococo

Tel: +86-10-6583-7510

Email: Edmond.Lococo@icrinc.com

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Sinovac Biotech Ltd. published this content on 29 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 November 2018 22:30:05 UTC