Press release
SINOVAC Reports Unaudited Second Half of 2023 Financial Results and Files 2023 Annual Report on Form 20-F
BEIJING--(BUSINESS WIRE)-- Sinovac Biotech Ltd. (NASDAQ: SVA) (“SINOVAC” or the “Company”), a leading provider of biopharmaceutical products in China, has
About this update from Sinovac Biotech, Ltd.
[{"type":"text","content":" BEIJING--(BUSINESS WIRE)--\nSinovac Biotech Ltd. (NASDAQ: SVA) (“SINOVAC” or the “Company”), a leading provider of biopharmaceutical products in China, has filed its 2023 annual report on Form 20-F with the U.S. Securities and Exchange Commission for the year ended December 31, 2023. The annual report can be accessed on the Company's investor relations website at http://www.sinovac.com/en-us/Investors. The Company also reported its unaudited financial results for the second half and audited financial for the full year ended December 31, 2023.\n\n\nSecond Half and Full Year 2023 Financial Summary\n\n\n\nSales for the six months ended December 31, 2023 were $307.9 million, compared to $280.5 million in the prior year period.\n\n\n\nSales in 2023 were $448.3 million, compared to $1.5 billion in the prior year.\n\n\n\nThe Company posted $119.9 million of net loss attributable to common shareholders, or a loss of $1.20 per basic and diluted share, in the six months ended December 31, 2023, compared to net loss attributable to common shareholders of $373.7 million, or a loss of $3.76 per basic and diluted share, in the prior year period.\n\n\n\nThe Company posted $105.9 million of net loss attributable to common shareholders, or a loss of $1.06 per basic and diluted share in 2023, compared to net income attributable to common shareholders of $107.9 million, or $1.08 per basic and $1.00 per diluted share, in the prior year period.\n\n\n\nMr. Weidong Yin, Chairman, President and CEO of SINOVAC, commented “In 2023, SINOVAC has gradually adjusted from the state of mass supply of COVID-19 vaccine against pandemic back to normal operational status. I am pleased to see that the top line of our regular products still maintained growth in the year of 2023. After experiencing three years of the COVID-19 pandemic, the world is still facing the threat of various infectious diseases in 2023. As a leading biopharmaceutical products provider in China, SINOVAC continues to invest additional resources in R&D and production of vaccines, and keeps exploring additional opportunities in a broader biopharmaceutical industry. It is great to see every progress of our pipeline products, such as the recent approval of 5-dose sIPV from National Medical Products Administration (NMPA) and the approval of clinical trial for reassortant hexavalent rotavirus vaccin...