Sinovac Completes Acquisition of Additional 20.56 Percent of Beijing Subsidiary

Sinovac Biotech Ltd. has announced that as of Feb. 4 it has completed the acquisition of an additional 20.56 percent of its Beijing-based operating subsidiary, Sinovac Biotech Co. Ltd. (Sinovac (Beijing)) for approximately US$3,310,000. Sinovac's intention to make this purchase was previously announced on Dec. 10, 2004. Sinovac's holdings now include nearly 72 percent of Sinovac (Beijing) and 100 percent of the Tangshan Yian R&D and production facility. The Tangshan Yian facility was acquired by Sinovac in February 2004 and is now a 100-percent-owned subsidiary. China Bioway Biotech Group (China Bioway), a subsidiary of Beijing University, owns the remaining 28 percent of Sinovac (Beijing).

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