Sinovac Commences Legal Proceedings to Nullify Filings Bearing a Falsified Company Seal and Forged Board Member Signatures

Sinovac Commences Legal Proceedings to

Nullify Filings Bearing a Falsified Company Seal and Forged Board Member Signatures

October 15, 2018 08:02 PM Eastern Daylight Time

BEIJING--(BUSINESS WIRE)--Senior management of Sinovac

Biotech Ltd. (NASDAQ: SVA) ("Sinovac" or the "Company") and the lawful directors of Sinovac Hong

Kong have commenced legal proceedings in the High Court of the Hong Kong Special Administrative Region to nullify and remove forged

documents that were illegally filed with the Hong Kong Companies Registry in respect of Sinovac Biotech (Hong Kong) Limited ("Sinovac

HK") and with the Industry and Commerce Bureau of Beijing in respect of Sinovac Biotech Co., Ltd. ("Sinovac Beijing").

In addition, in the High Court of Justice in Antigua and Barbuda, the Company has petitioned for 1Globe Capital LLC ("1Globe")

to be restrained from making any attempt to take control of the company or in any other way undermine the court's authority

in the existing litigation between 1Globe and the Company.

As described in a previous press release http://www.sinovacbio.com/?optionid=754&auto_id=874,

Sinovac Biotech Ltd. became aware Monday October 8, 2018 that unauthorized changes have been made to the Hong Kong Companies Registry

for Sinovac Biotech (Hong Kong) Limited ("Sinovac HK") and that unauthorized changes have been made to the Industry

and Commerce Bureau of Beijing for Sinovac Biotech Co., Ltd. ("Sinovac Beijing").

The Board of Directors and management of publicly traded Sinovac

Biotech Ltd., which remain unchanged by the actions of Sinobioway and the Dissident Shareholders, are closely monitoring these

unauthorized actions purportedly taken at Sinovac HK and Sinovac Beijing and continue to comply with their fiduciary duties to

act in the best interests of the Company and all shareholders as the Company moves forward in its mission to develop vaccines that

enhance health in China and around the world and create shareholder value. Furthermore, the Board of Directors and management of

Sinovac are vigorously protecting the rights of all shareholders in all applicable courts.

Sinovac Biotech 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's product 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 Sinovac against hand foot and mouth disease caused by EV71, was commercialized in China in 2016. In 2009, Sinovac was 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. Sinovac primarily 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.

Sinovac Biotech Ltd.

Tel: +86-10-8279-9871

Fax: +86-10-6296-6910

Email: ir@sinovac.com

Tel: +1-646-308-1707

Email: william.zima@icrinc.com

Tel: +1-415-745-3294

Email: sbe@abmac.com

Tel: +86-10-6583-7510

Email: Edmond.Lococo@icrinc.com