Sinovac (SVA) director Fu Shan lists 5,903,000 indirect shares

Rhea-AI Filing Summary

SINOVAC BIOTECH LTD director Fu Shan filed an initial ownership report showing indirect holdings of 5,903,000 common shares. These shares are held by Vivo Capital Fund VIII, L.P., Vivo Capital Surplus Fund VIII, L.P. and Vivo Capital Fund IX, L.P., for which entities he serves as managing member of the general partners and may share voting and dispositive power with other members. He disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

FU SHAN

(Last) (First) (Middle)

SEE REMARKS

(Street)

BEIJING 100020

(City) (State) (Zip)

CHINA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
SINOVAC BIOTECH LTD [ SVA ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common shares, par value $0.001 per share	5,903,000	I	By Vivo Capital Fund VIII, L.P., Vivo Capital Surplus Fund VIII, L.P. and Vivo Capital Fund IX, L.P.(1)(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The Reporting Person is a managing member of Vivo Capital VIII, LLC, which is the general partner of Vivo Capital Fund VIII, L.P. and Vivo Capital Surplus Fund VIII, L.P. The Reporting Person may be deemed to share voting and dispositive power over 1,196,073 common shares, par value $0.001 per share, of the Issuer (the "Common Shares") held by Vivo Capital Fund VIII, L.P. and 165,163 Common Shares held by Vivo Capital Surplus Fund VIII, L.P. with three other voting members. The Reporting Person, as the managing member of Vivo Capital IX, LLC, which is the general partner of Vivo Capital Fund IX, L.P., may be deemed to share voting and dispositive power over 4,541,764 Common Shares held by Vivo Capital Fund IX, L.P. with five other voting members.

2. The Reporting Person disclaims beneficial ownership over such shares except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purposes.

Remarks:

The full street address is Unit 1501-1505, North Tower, CP Center, 20 Jinhe East Road, Chaoyang District. Exhibit 24 - Power of Attorney

	/s/ Jia Zhao, Attorney-in-Fact	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Fu Shan report in his Form 3 for SINOVAC BIOTECH LTD (SVA)?

Fu Shan reports his initial indirect ownership in SINOVAC BIOTECH LTD, showing 5,903,000 common shares held through several Vivo Capital funds. This filing establishes his baseline position as a director under Section 16 reporting rules.

How many SINOVAC BIOTECH LTD (SVA) shares does Fu Shan indirectly hold?

The Form 3 shows 5,903,000 common shares indirectly held. These consist of shares owned by Vivo Capital Fund VIII, L.P., Vivo Capital Surplus Fund VIII, L.P. and Vivo Capital Fund IX, L.P., over which he may share voting and dispositive power with other members.

Are Fu Shan’s SINOVAC (SVA) holdings direct or indirect?

All reported holdings are indirect. The shares are held by Vivo Capital Fund VIII, L.P., Vivo Capital Surplus Fund VIII, L.P. and Vivo Capital Fund IX, L.P., with Fu Shan connected through the general partner entities that manage these funds.

Does the Form 3 for SINOVAC (SVA) show Fu Shan buying or selling shares?

The Form 3 does not show any new purchases or sales. It is an initial ownership filing that simply records 5,903,000 common shares already held indirectly through Vivo Capital funds as of the reporting date.

How are the 5,903,000 SINOVAC (SVA) shares distributed among the Vivo Capital funds?

Footnotes state that 1,196,073 common shares are held by Vivo Capital Fund VIII, L.P., 165,163 shares by Vivo Capital Surplus Fund VIII, L.P., and 4,541,764 shares by Vivo Capital Fund IX, L.P., which together total 5,903,000 shares.

Does Fu Shan fully claim beneficial ownership of his reported SINOVAC (SVA) shares?

No. He disclaims beneficial ownership of the shares except to the extent of his pecuniary interest. The filing notes that including these shares should not be seen as an admission of full beneficial ownership for Section 16 or other purposes.