SINOVAC BIOTECH LTD.
No. 39 Shangdi Xi Rd, Haidian District
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F:
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
SINOVAC Receives Nasdaq Notification Regarding
Late Filing of 2025 Annual Report
BEIJING, China May 29, 2026 – Sinovac
Biotech Ltd. (Nasdaq: SVA) (“SINOVAC” or the “Company”), a leading provider of
biopharmaceutical products in China, today announced that it received a notification letter dated May 20, 2026 (the
“Notification Letter”), from Nasdaq Listing Qualifications (“Nasdaq”) stating that as of May
8, 2026, the Company had regained compliance with the periodic filing and interim financial requirements in Nasdaq Listing Rules
5250(c)(1) (the “Periodic Filing Rule”) and 5250(c)(2), as required by the Panel’s decision dated January
21, 2026. As previously disclosed on January 22, 2026, under the Panel’s decision, SINOVAC was required to, on or before May
11, 2026, demonstrate compliance with such Nasdaq Listing Rules by completing filings of its annual report for the year ended
December 31, 2024, on Form 20-F and an interim balance sheet and income statement as of the end of its second quarter of 2025 on
Form 6-K. The Company timely completed such filings as required by the Panel’s decision.
The Notification Letter also stated that the Company
will be subject to a mandatory panel monitor (the “Panel Monitor”) for a period of one year from the date of such letter.
If, within that one-year monitoring period, the Nasdaq Listing Qualifications staff (the “Staff”) finds the Company
again out of compliance with the Periodic Filing Rule that was the subject of the exception, the Staff will issue a delist determination
letter and the Company will have an opportunity to request a new hearing with the initial Panel or a newly convened Panel if the initial
Panel is unavailable. The Company will have the opportunity to respond and present to the Panel as provided by Nasdaq Listing Rule 5815(d)(4)(C).
Subsequently, the Company received a delist determination
letter (the “Staff Determination”) from Nasdaq dated May 22, 2026, stating that because the Company has not timely
filed its annual report on Form 20-F for the year ended December 31, 2025 (the “2025 Annual Report”), the Company no
longer complies with the Periodic Filing Rule. Therefore, in accordance with the Panel Monitor, unless the Company timely requests a hearing
before the Panel regarding the Staff Determination by May 29, 2026, the Company’s securities would be subject to suspension and
delisting.
Accordingly, the Company has today requested a
hearing before the Panel. Such hearing request automatically stays the suspension of the Company’s securities for a period of 22
calendar days from the date of the Staff Determination. The Company has also requested a further stay of any suspension action pending
the completion of the hearing process.
About SINOVAC
Sinovac Biotech Ltd. (SINOVAC) is a China-based
global biopharmaceutical company, with a mission of “supply vaccines to eliminate human diseases”, the company specializes
in the research, development, manufacturing and commercialization of vaccines and related biological products that protect against human
infectious diseases.
The Company’s diversified portfolio includes
vaccines for influenza, viral hepatitis, varicella, Hand-Foot-Mouth disease (HFMD), poliomyelitis, pneumococcal disease, etc., of which
3 vaccines have been prequalified by WHO, including inactivated hepatitis A vaccine Healive®, Sabin-strain inactivated
polio vaccine (sIPV), and varicella vaccine.
SINOVAC has a leading edge in developing vaccines
to combat infectious disease outbreaks and was among the first to initiate R&D during major public health emergencies, including SARS,
H5N1, H1N1, and COVID-19. The company developed the world’s first inactivated SARS vaccine (Phase I completed), China’s first
H5N1 influenza vaccine (Panflu®), the world’s first H1N1 influenza vaccine (Panflu.1®), and CoronaVac®,
the most widely used inactivated COVID-19 vaccine globally.
Beyond its marketed portfolio, the Company is
advancing a robust pipeline that includes combination vaccines, recombinant protein vaccines and next-generation platforms such as mRNA
technologies and antibodies.
With a long-standing commitment to innovation
and global health, SINOVAC is expanding its global footprint by strengthening partnerships with research institutions, international organizations,
and local partners. Through broader market presence, technological cooperation, and localized production, the Company aims to accelerate
vaccine development and supply, enhance regional access to high-quality products, and better address unmet medical needs while improving
preparedness for future pandemics.
For more information, please see the Company’s
website at www.sinovac.com.
Safe Harbor Statement
This announcement contains forward-looking statements
within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be identified by terminology such as “may,” “will,” “expect,”
“anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,”
“potential,” “continue,” “is/are likely to” or other similar expressions, including the Company’s
statements related to the timing and actions taken to regain compliance with Nasdaq listing rules. Such statements are based upon the
Company’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks,
uncertainties and other factors, including without limitation risks, uncertainties and factors related to the completion and filing of
the 2025 Annual Report, and actions taken to regain compliance with the Nasdaq listing rules, all of which are difficult to predict and
many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements
to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties
or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake
any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required
under law.
Contacts
Sinovac Biotech Ltd.
Helen Yang
Tel: +86-10-8279 9779
Email: ir@sinovac.com
