SVA on Nasdaq

Sinovac Biotech

Logo: Unknown author Unknown author, Public domain, via Wikimedia Commons6

Chinese biopharmaceutical company

Sinovac Biotech Ltd. (Chinese: 科兴控股生物技术有限公司) is a Chinese biopharmaceutical company based in Haidian District, Beijing, that focuses on the research, development, manufacture, and commercialization of vaccines that protect against human infectious diseases. The company was listed on the Nasdaq but the exchange halted Sinovac's trading in February 2019 due to a proxy fight. The company has faced bribery probes in China.3 Its shares trade on Nasdaq under the symbol SVA.1 Wikipedia text CC BY-SA 4.0

$6.47 up 0.00 (0.00%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 20, 2026.

Overview

$386.0MRevenue, fiscal 20257
-$198.8MNet income, fiscal 20257
1999Founded1

Compare with Arcutis Biotherapeutics, Inc., Esperion Therapeutics or Ardelyx (United States), or pick any stock.

  • TickerSVA on Nasdaq1
  • Industrypharmaceutical industry1
  • HeadquartersBeijing1
  • Founded inBeijing1
  • Websitewww.sinovac.com
  • Legal formprivate limited company1
  • Incorporated inAntigua and Barbuda8
  • Business addressNo. 39 Shangdi Xi Road, Haidian District, Beijing, 1000858
  • Filer categoryAccelerated filer8
  • LEI529900DOOGH8WKB2WL854
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressSUITE 125, St. John’s, Antigua and Barbuda4
Sinovac Biotech headquarters (20221017114251)
Photo: N509FZ, CC BY-SA 4.0, via Wikimedia Commons10

Sinovac Biotech Ltd. (Chinese: 科兴控股生物技术有限公司) is a Chinese biopharmaceutical company based in Haidian District, Beijing, that focuses on the research, development, manufacture, and commercialization of vaccines that protect against human infectious diseases. The company was listed on the Nasdaq but the exchange halted Sinovac's trading in February 2019 due to a proxy fight. The company has faced bribery probes in China. Its COVID-19 vaccine was the target of a covert disinformation campaign by the US government and a promotional social media astroturfing campaign by the Chinese government.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

67.9%Gross margin7
-127.0%Operating margin7
-51.5%Net margin7
6.8%Revenue growth, 20257
-4.5%Return on equity7
0.11×Debt to equity7
-$561.1MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Regions

[China [Member]] brought in 68% of the revenue Sinovac Biotech broke down this way in fiscal 2025.

  1. [China [Member]]$261.2M768%down 12% from 2024
  2. Outside Chinese Mainland$124.8M732%up 94% from 2024
Regions by year
Regions2022202320242025
[China [Member]]$1.1B$403.0M$297.0M$261.2M
Outside Chinese Mainland$67.2M$64.4M$124.8M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue17¢$124.0M
  • Research and development29¢$216.2M
  • Selling, general and admin45¢$333.0M
  • Income tax9¢$63.3M

Out of $386.0M in revenue.7 The company lost money this year.

Financial statements

Revenue111213147$386.0M in 2025+68% since 2018
0$5.0B$10.0B$15.0B$20.0B2018: $229.7M$229.7M20182019: $246.1M$246.1M2019+7%2020: $510.6M$510.6M2020+108%2021: $19.4B$19.4B2021+3692%2022: $1.5B$1.5B2022−92%2023: $470.2M$470.2M2023−68%2024: $361.4M$361.4M2024−23%2025: $386.0M$386.0M2025+7%
Gross profit111213147$262.0M in 2025+28% since 2018
0$5.0B$10.0B$15.0B$20.0B2018: $204.9M$204.9M20182019: $213.6M$213.6M2019+4%2020: $443.4M$443.4M2020+108%2021: $18.4B$18.4B2021+4044%2022: $815.2M$815.2M2022−96%2023: $323.3M$323.3M2023−60%2024: $220.7M$220.7M2024−32%2025: $262.0M$262.0M2025+19%
Operating income111213147-$490.1M in 2025
-$5.0B0$5.0B$10.0B$15.0B$20.0B2018: $45.3M$45.3M20182019: $68.6M$68.6M2019+51%2020: $215.6M$215.6M2020+215%2021: $17.6B$17.6B2021+8070%2022: -$509.0M-$509.0M20222023: -$714.0M-$714.0M2023+40%2024: -$505.5M-$505.5M2024−29%2025: -$490.1M-$490.1M2025−3%
Net income111213147-$198.8M in 2025
-$2.5B0$2.5B$5.0B$7.5B$10.0B2018: $21.8M$21.8M20182019: $44.9M$44.9M2019+106%2020: $110.4M$110.4M2020+146%2021: $8.1B$8.1B2021+7259%2022: $14.5M$14.5M2022−100%2023: -$13.5M-$13.5M20232024: $40.7M$40.7M20242025: -$198.8M-$198.8M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Sales$386.0M$361.4M$470.2M
Cost of sales$124.0M$140.7M$146.9M
Gross profit$262.0M$220.7M$323.3M
Selling, general and administrative expenses$333.0M$420.9M$598.2M
Provision for credit losses$4.1M$12.3M$2.6M
Research and development expenses$216.2M$270.7M$350.2M
Loss on disposal and impairment of property, plant and equipment$137.2M$30.3M$108.7M
Loss on impairment of intangible assets$49.9M$0$0
Loss on impairment of goodwill$15.7M$0$0
Government grants recognized in income-$4.0M-$7.9M-$22.5M
Total operating expenses$752.1M$726.2M$1.0B
Operating loss-$490.1M-$505.5M-$714.0M
Interest and financing expenses-$9.8M-$5.6M-$4.9M
Interest income$33.3M$29.1M$87.1M
Share of losses from equity method investments-$4.0M-$2.7M-$11.5M
Other income, net$208.6M$527.6M$558.8M
(Loss) income before income taxes-$262.1M$42.8M-$84.5M
Income tax benefit (expense)$63.3M-$2.2M-$36.4M
Net (loss) income-$198.8M$40.7M-$120.9M
Less: net loss attributable to non-controlling interests-$139.2M-$50.2M-$107.4M
Net (loss) income attributable to common shareholders of Sinovac-$59.7M$90.9M-$13.5M
Basic net (loss) income per share-$0.83$1.27-$0.19
Diluted net (loss) income per share-$0.83$1.27-$0.19
Basic71.9M shares71.9M shares71.8M shares
Diluted71.9M shares71.9M shares71.9M shares
Foreign currency translation adjustments$274.0M-$223.9M-$277.7M
Unrealized gain (loss) on available-for-sale investments$6.7M-$10.6M$8.8M
Comprehensive income (loss)$81.9M-$193.8M-$389.8M
Less: comprehensive loss attributable to non-controlling interests-$53.0M-$140.3M-$214.1M
Comprehensive income (loss) attributable to shareholders of Sinovac$134.9M-$53.5M-$175.6M

Compare Sinovac Biotech with another company

Corporate structure

Sinovac Biotech sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Sinovac Biotech

  • SAIF Partners IV L.P. Filed SCHEDULE 13D/A on Sinovac Biotech, latest Dec 17, 2025 (14 filings since Dec 12, 2022)
  • 1Globe Capital LLC Filed SCHEDULE 13D/A on Sinovac Biotech, latest Sep 12, 2025 (4 filings since Jul 1, 2025)
  • Yin Weidong Filed SCHEDULE 13D/A on Sinovac Biotech, latest Jul 15, 2025 (4 filings since Mar 21, 2025)
  • Advantech Capital L.P. Filed SCHEDULE 13D/A on Sinovac Biotech, latest Jul 14, 2025 (4 filings since Mar 20, 2024)
  • Vivo Capital VIII, LLC Filed SCHEDULE 13D/A on Sinovac Biotech, latest Jul 11, 2025 (3 filings since Apr 24, 2025)
  • Vivo Capital IX, LLC Filed SCHEDULE 13D/A on Sinovac Biotech, latest Mar 19, 2025
  • Sinovac Biotech St. John’s, Antigua and Barbuda

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Sinovac Biotech reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$1.6B7 Dec 31, 2025$1.5B7 Dec 31, 2024+5.3%
Accumulated depreciation$591.7M7 Dec 31, 2025$486.0M7 Dec 31, 2024+21.8%
Property and equipment, net$706.1M7 Dec 31, 2025$881.0M7 Dec 31, 2024−19.9%
Operating-lease assets (leased space)$10.4M7 Dec 31, 2025$16.0M7 Dec 31, 2024−34.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$488.2M7 Dec 31, 2025$335.3M7 Dec 31, 2024+45.6%
Marketable securities, current$5.5B7 Dec 31, 2025$9.6B7 Dec 31, 2024−43.0%
Stakes in other companies (equity method)$281.8M7 Dec 31, 2025$278.4M7 Dec 31, 2024+1.2%
Long-term investments$512.3M7 Dec 31, 2025$491.3M7 Dec 31, 2024+4.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$12.6M7 Dec 31, 2025$27.5M7 Dec 31, 2024−54.2%
Intangible assets, net (excluding goodwill)$77.7M7 Dec 31, 2025$122.6M7 Dec 31, 2024−36.6%
Finite-lived intangibles, net$77.7M7 Dec 31, 2025$122.6M7 Dec 31, 2024−36.6%

Inventory

ItemLatestA year beforeChange
Inventory, total$94.3M7 Dec 31, 2025$96.9M7 Dec 31, 2024−2.7%
Raw materials$25.8M7 Dec 31, 2025$31.6M7 Dec 31, 2024−18.2%
Work in process$38.9M7 Dec 31, 2025$37.1M7 Dec 31, 2024+4.9%
Finished goods$29.6M7 Dec 31, 2025$28.3M7 Dec 31, 2024+4.6%

The story

According to an investigative report by Reuters, the United States ran a propaganda campaign to discredit the China's Sinovac COVID-19 inoculation, including using fake social media accounts to spread disinformation that the Sinovac vaccine contained pork-derived ingredients and was therefore haram under Islamic law.

During the COVID-19 pandemic, China's growing influence by donating vaccines and aid, had prompted US military leaders to initiate a covert propaganda operation. A senior US military officer involved with the campaign had told Reuters that the US failed to effectively share vaccines with partners, leaving them without much options but to undermine China's diplomatic efforts. US military leaders took precedence over diplomats, fearing that China's COVID diplomacy might draw South-East Asian countries closer to Beijing. The US government later justified its covert disinformation campaign by framing it as retaliation for China's disinformation, which had falsely blamed the United States for the spread of COVID-19. Additionally, the campaign reportedly aimed to counter "China’s COVID diplomacy", and so to ultimately undermine closer ties between China and countries like the Philippines as a result of such diplomacy during the pandemic. The campaign primarily targeted people in the Philippines and used a social media hashtag for "China is the virus" in Tagalog. The campaign ran from the spring of 2020 to mid-2021. The primary contractor for the U.S. military on the project was General Dynamics IT, which received $493 million for its role. After some American public health experts were briefed by Reuters on the Pentagon's covert anti-vax campaign, they condemned the campaign as unjustifiable, and that it had unethically endangered innocent lives for potential geopolitical gain.

A 2025 Reuters report found that the Embassy of China in Manila hired a local marketing firm to conduct a covert "public opinion guidance" astroturfing campaign that included promoting CoronaVac in the country.

From Wikipedia’s article on Sinovac Biotech, shared under CC BY-SA 4.0.9

Leadership

Who has led Sinovac Biotech, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Yin Weidong2026–now

Chief financial officer

  1. Nan Wang2026–now
200020052010201520202025
Board members and other officers (8)

Former names

  • NET FORCE SYSTEMS INCJan 20, 2000 to Jan 13, 20048

Timeline

  1. Mar 18, 2026New chief executive Yin Weidong becomes CEO18
  2. Nov 16, 2009Went public Listed on NASDAQ1
  3. 1999Founded Founded in Beijing1

Filings

122 filings to the SEC since October 2021: 5 annual reports, 13 insider forms, 30 large holders, 74 other. The latest 20:

  1. Aug 17, 20266-K EDGAR
  2. Jul 15, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  3. Jun 15, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  4. Jun 5, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  5. Jun 5, 202620-F EDGAR
  6. May 29, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  7. May 21, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  8. May 8, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  9. May 7, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  10. Apr 30, 2026NT 20-F NOTIFICATION OF LATE FILING EDGAR
  11. Apr 30, 202620-F EDGAR
  12. Apr 17, 20263 EDGAR
  13. Mar 18, 20263 EDGAR
  14. Mar 18, 20263 EDGAR
  15. Mar 18, 20263 EDGAR
  16. Mar 18, 20263 EDGAR
  17. Mar 18, 20263 EDGAR
  18. Mar 18, 20263 EDGAR
  19. Mar 18, 20263 EDGAR
  20. Mar 18, 20263 EDGAR

The 122 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Sinovac Biotech is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSINOVAC BIOTECH LTD2
  • CIK0001084201
  • Filer statusAccelerated filer not an emerging growth company; not a shell company33
  • Incorporated inB933
  • Fiscal year endsDecember 312
  • Industry code (SIC)2834 Pharmaceutical Preparations2
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance2
  • Business addressNo. 39 Shangdi Xi Road, Haidian District, Beijing, China 100085, China2
  • Phone86-10-827998002
  • Shares outstanding71,860,702 shares as of Dec 31, 202533
  • AuditorZhonghua Certified Public Accountants LLP, Shanghai, China PCAOB ID 1921; it also attests to the company’s internal control over financial reporting33
  • On EDGAR sinceJan 20, 20002
  • Filings578 in all: 6-K (341), 20-F (28), SC 13D/A (28), SC 13G/A (21), SCHEDULE 13D/A (21), 3 (17), CORRESP (15), UPLOAD (15)2
    All 40 form types

    20-F/A (11), SC 13D (10), SC 13G (10), 8-A12B/A (9), NT 20-F (5), 8-A12B (4), F-1/A (4), 4 (3), F-3 (3), S-8 (3), SC TO-T/A (3), 424B5 (2), 6-K/A (2), REGDEX (2), SC 13E3/A (2), SC 14D9 (2), SC TO-T (2), 20FR12G (1), 20FR12G/A (1), 25 (1), 424B3 (1), 8-A12G (1), 8-K (1), CERTNAS (1), CERTNYS (1), EFFECT (1), F-1 (1), F-3MEF (1), NT 20-F/A (1), PRE 14A (1), SC 13E3 (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (20-F) Jun 5, 2026
    Latest 8-K (8-K) Oct 26, 2000

Securities registered for trading

ClassSymbolExchange
Common Shares, par value $0.001 per shareSVAThe NASDAQ Global Select Market

From the cover page of the 20-F filed Jun 5, 2026 (Section 12(b) of the Exchange Act).33

Sources

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