Sinovac Biotech Ltd Stock Price, News & Analysis

SINOVAC Biotech (NASDAQ: SVA) has secured a significant legal victory in Hong Kong against Advantech/Prime's lawsuit attempting to block a US$55.00 per common share special cash dividend. The Hong Kong High Court denied Advantech/Prime's petition for interim relief on June 27, 2025, ordering them to compensate SINOVAC's legal costs.

The ruling follows Advantech/Prime's failed petition in New York and clears another hurdle for the dividend distribution scheduled for July 7, 2025. The court criticized Advantech/Prime for failing to comply with disclosure duties and creating artificial urgency.

SINOVAC urges shareholders to vote by July 8 against proposals to remove the current Board and appoint what they term the "Reconstituted Imposter Former Board Slate."

SAIF Partners, owning 15% of Sinovac Biotech (SVA), has sent an open letter to shareholders criticizing the current Board's failure to act in shareholders' interests. The letter highlights the Board's inaction regarding dividend payments and resumption of share trading after a six-year halt, despite the company holding $10.3 billion in cash.

SAIF Partners has nominated ten new directors for election at the July 8, 2025 Special Meeting. The current four-member Board, dominated by 1Globe and OrbiMed representatives, is criticized for lacking legitimacy as most directors were not duly elected by shareholders or sanctioned by the Privy Council. SAIF Partners urges shareholders to vote the GOLD proxy card for their nominees, who commit to declaring significant dividends, resuming share trading, and resolving shareholder disputes.

SINOVAC Biotech (NASDAQ: SVA) has filed an investor presentation and launched www.VoteSinovac.com ahead of its Special Meeting on July 9, 2025. The Board is urging shareholders to vote "AGAINST" proposals to remove the current Board and appoint the Reconstituted Imposter Former Board Slate.

The current Board highlights its commitment to shareholders by promising up to $138.73 per common share in dividends, contrasting with the previous board's seven-year tenure without dividends. The Board emphasizes its efforts to protect shareholder rights, counter lawsuits from the Dissenting Investor Group (Advantech/Prime and Vivo Capital), and plans to explore a potential Hong Kong Stock Exchange listing.

The presentation criticizes the Dissenting Investor Group's track record, citing failed privatization attempts at below-market prices and self-dealing transactions. Shareholders must vote by July 8, 2025, with the Board recommending use of the WHITE proxy card to vote against both proposals.

Prime Success (8% shareholder of Sinovac Biotech) issued a statement regarding a New York court ruling that confirms their rights as shareholders, including voting rights at an upcoming Special Meeting. The court rejected the 1Globe Activist Board's attempts to prevent Prime Success from voting their shares. Prime Success emphasizes their $86 million PIPE investment was crucial for Sinovac's COVID vaccine development. They support immediate dividend distribution ($55.00 per share) and back SAIF Partners' director slate to end ongoing litigation, recruit new auditors, and resume NASDAQ trading. The dispute continues in arbitration at HKIAC, with Prime Success maintaining their right to return to NY court if their shareholder rights are challenged.

SINOVAC Biotech (NASDAQ: SVA) has won a significant legal victory against Advantech/Prime in the U.S. District Court for the Southern District of New York, which denied their petition for emergency injunctive relief. This ruling clears the way for SINOVAC to proceed with its planned special cash dividend of $55.00 per common share, scheduled for July 7, 2025. The company's current Board, led by Chairman Dr. Chiang Li, is also pursuing legal action in Antigua to cancel allegedly invalid PIPE shares issued to the Dissenting Investor Group. If successful, SINOVAC plans to distribute an additional $11.00 per share to valid shareholders. The company has placed the disputed dividend portions in escrow pending legal resolution. SINOVAC is urging shareholders to vote against proposals to remove the current Board and appoint a new slate by July 8.

SINOVAC Biotech (NASDAQ: SVA) has filed definitive proxy materials with the SEC for a Special Meeting of Shareholders scheduled for July 9, 2025. The Board is urging shareholders to vote AGAINST two key proposals using the WHITE proxy card: Proposal 1 to remove the current Board and Proposal 2 to appoint what they term the 'Reconstituted Imposter Former Board Slate.' The company is facing opposition from a Dissenting Investor Group led by Advantech/Prime Success and Vivo Capital, whom the current Board accuses of making false claims in a hostile takeover attempt. SINOVAC's Board emphasizes that shareholders' votes by July 8 will impact the company's future, including make whole dividend payments and long-term investment value. The company has appointed Georgeson LLC as their proxy solicitor to assist shareholders with voting matters.

Sinovac Biotech Ltd. announced changes to its Board of Directors, with David Guowei Wang resigning due to increased professional commitments, effective immediately. The company appointed Geoffrey C. Hsu, CFA, as his replacement. Hsu, a General Partner and Portfolio Manager at OrbiMed, brings significant healthcare investment expertise, managing over $17 billion in assets. He has been with OrbiMed since 2002 and has overseen the firm's public equity investments in China since 2009, including SINOVAC since 2013. Following this appointment, the Board consists of four members: Dr. Chiang Li (Chairman), Mr. Yuk Lam Lo, Mr. Sven H. Borho, and Mr. Hsu. Hsu will serve on the Audit Committee, Compensation Committee, and Corporate Governance and Nominating Committee.

SINOVAC Biotech's Board announced significant dividend updates and shareholder value initiatives. The company will accelerate payment of a previously announced $55.00 per share special dividend, expected around July 7, 2025. Additionally, a second special dividend of $19.00 per share will be declared after the Special Shareholder Meeting (SSM), with potential for an extra $3.73 if PIPE shares are cancelled. The Board adopted a new dividend policy promising regular distributions between $20.00-$50.00 per share from surplus cash. These actions aim to compensate shareholders who were previously excluded from over $2 billion in subsidiary-level distributions. The company also committed to holding an annual meeting in Q2 2026 and is exploring potential listing on the Hong Kong Stock Exchange. These moves come amid ongoing conflicts with a Dissenting Investor Group led by Advantech/Prime Success and Vivo Capital.

Prime Success LP, owning 8% of Sinovac Biotech (NASDAQ: SVA), issued a statement addressing alleged false claims by the current board regarding the July 8, 2025 Special Meeting. The statement refutes several accusations, including claims about dividend blocking and new lawsuits. Prime Success clarifies their injunction only seeks to protect their shareholder rights and maintain status quo, not prevent dividend distribution. They argue the current '1Globe Activist Board' is weaponizing dividends by setting the record date after the Special Meeting and has breached fiduciary duties through misleading statements and misuse of company resources. Prime Success supports SAIF Partners' nominees for the board and urges shareholders to vote using the GOLD proxy card.