Sinovac Shareholders Vote Out Board, SAIF Partners Takes Control

Sinovac Shareholders Vote to Remove Current Directors and Elect SAIF Partners Nominees to Board at Special Meeting

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07/09/2025 - 01:17 AM

Shareholders Voted to Approve Both SAIF Partners Proposals at Special Meeting

Newly Elected Directors Are Committed to Support and Execute the Announced Payout of Dividends and Unlock Sinovac鈥檚 Long-Term Value for All Shareholders Through the Resumption of Trading of Sinovac鈥檚 Common Shares

NEW YORK--(BUSINESS WIRE)-- SAIF Partners IV L.P., (鈥淪AIF Partners鈥�, 鈥渨e鈥� or 鈥渦s鈥�), today announced that Sinovac Biotech Ltd. (鈥淪inovac鈥� or the 鈥淐ompany鈥�) shareholders voted to approve SAIF Partners鈥� proposals to remove the Company鈥檚 incumbent directors and to elect SAIF Partners鈥� slate of ten highly qualified director nominees to the Board of Directors (the 鈥淏oard鈥�) at Sinovac鈥檚 Special Meeting of Shareholders (the 鈥淪pecial Meeting鈥�).

On July 8, 2025, at 8:00 p.m. Atlantic Standard Time, Sinovac鈥檚 incumbent Chairman Chiang Li convened, then immediately purported to adjourn, the Special Meeting without allowing shareholders to participate. SAIF Partners representatives, alongside those of other shareholders, had arrived at the Special Meeting intending to participate in the meeting.

Subsequently, the shareholder representatives present convened a continuation of the Special Meeting, chaired by incumbent Sinovac Director Mr. Yuk Lam Lo, the only remaining director on the incumbent Board approved by Privy Council. During the Special Meeting, Sinovac鈥檚 shareholders voted to approve both of SAIF Partners鈥� proposals, based on a tabulation of votes cast on SAIF Partners鈥� gold proxy card and the Company鈥檚 white proxy card.

The newly elected directors of the Company are committed to supporting and executing Sinovac鈥檚 announced payout of dividends and working closely with Sinovac鈥檚 management to unlock long-term value for all shareholders by pursuing the resumption of trading of the Company鈥檚 common shares to help Sinovac realize its tremendous potential.

About SAIF Partners

SAIF Partners is a leading Asian private equity firm with cumulative assets under management of over $4 billion. SAIF Partners is an active lead investor working closely with its portfolio companies to develop their business both organically and through acquisitions, seeking synergistic cooperation among them, as well as enhancing shareholder value via promotion of good corporate governance and best management practices.