BEIJING, Dec. 21 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. (Nasdaq: SVA),
a leading provider of biopharmaceutical products in China, announced today
that Sinovac was selected by China Business Media as one of China's Top 10
most competitive companies listed overseas for 2009. The honor was given to
Sinovac at the 2009 China Business Annual Meeting on Enterprise
Competitiveness.
The "Competitiveness Measure" is the measuring model developed by the
experts from the Research Center of Chinese Industries and Enterprise
Competitiveness and China Business Media. The model evaluates the
competitiveness of Chinese listed companies through the criteria including the
listed companies' sales revenue, net assets, net profits, the sales revenue,
growth rate of net profits, and return on net assets in the past three years.
The evaluation result will become an objective and authoritative reference for
management and investors.
Sinovac, an independent company publicly traded on the NASDAQ Global
Market, shares a position on the list with some of China's large "State-owned
Enterprises" such as China National Offshore Oil, PetroChina, China Mobile
(Hong Kong), China Unicom, and China Petroleum & Chemical. Completing the Top
10 list are Yingli Green Energy Holdings Co., Ltd., Gushan Environmental
Energy Limited, LDK Solar Co., Ltd., and Changzhou Trina Solar Energy Co., Ltd.
Mr. Weidong Yin, Chairman, President and CEO of Sinovac, remarked, "We
would like to thank China Business and the Institute of Industrial Economics
of the Chinese Academy of Social Sciences for bestowing this designation on
our Company as it recognizes our collective and successful efforts to develop
and commercialize vaccines within a competitive marketplace."
The Annual Meeting on Enterprise Competitiveness has been held since 2003
and is China's only economic forum combining theoretical research and economic
practice. The key contents of the annual meeting include: issuing the research
results of the Institute of Industrial Economics of the Chinese Academy of
Social Sciences and China Business Media; releasing survey results on the
competitiveness of listed Chinese enterprises based on analysis of annual
report data; and inviting well-known entrepreneurs, economists, and
governmental officials to discuss the hottest economic issues for the current
year.
About Sinovac
Sinovac Biotech Ltd. is a China-based biopharmaceutical company that
focuses on the research, development, manufacture and commercialization of
vaccines that protect against human infectious diseases. Sinovac's vaccine
products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and
B), and Anflu(R) (influenza). Panflu(R) and PANFLU.1(TM), Sinovac's pandemic
influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for
government stockpiling. Sinovac is developing vaccines for enterovirus 71,
universal pandemic influenza, Japanese encephalitis, and human rabies. Its
wholly owned subsidiary, Tangshan Yian, is conducting field trials for
independently developed inactivated animal rabies vaccine.
Safe Harbor Statement
This announcement contains 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 words or phrases such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar statements.
Among other things, the business outlook and quotations from management in
this press release contain forward-looking statements. Statements that are not
historical facts, including statements about Sinovac's beliefs and
expectations, are forward-looking statements. Forward-looking statements
involve inherent risks and uncertainties. A number of important factors could
cause actual results to differ materially from those contained in any
forward- looking statement. Sinovac does not undertake any obligation to
update any forward-looking statement, except as required under applicable law.
For more information, please contact:
Helen G. Yang
Sinovac Biotech Ltd.
Tel: +86-10-8289-0088 x9871
Fax: +86-10-6296-6910
Email: info@sinovac.com
Investors:
Amy Glynn/Stephanie Carrington
The Ruth Group
Tel: +1-646-536-7023/7017
Email: aglynn@theruthgroup.com
scarrington@theruthgroup.com
Media:
Janine McCargo
The Ruth Group
Tel: +1-646-536-7033
Email: jmccargo@theruthgroup.com
SOURCE Sinovac Biotech Ltd.