Sinovac Appoints Ernst & Young Hua Ming Llp China as External Auditor

    Sinovac Appoints Ernst & Young Hua Ming Llp China as External Auditor

PR Newswire

BEIJING, May 15, 2013

BEIJING, May 15, 2013 /PRNewswire/ -- Sinovac Biotech Ltd. (NASDAQ: SVA), a
leading provider of biopharmaceutical products in China, has appointed
China-based Ernst & Young Hua Ming LLP as its registered independent public
accounting firm effective from May 14, 2013 to replace Ernst & Young LLP
Canada.

On May 14, 2013, Ernst & Young LLP Canada notified the Company that it would
not stand for re-election as the Company's registered independent public
accounting firm.

Both of the Company's audit committee and the board of directors have approved
the appointment of Ernst& Young Hua Ming LLP to replace Ernst & Young LLP
Canada. Ernst& Young Hua Ming LLP has begun providing services and is working
with the Company and Ernst & Young LLP Canada to ensure a seamless transition.
The Company believes that the appointment of Ernst & Young Hua Ming LLP is
beneficial because of the close proximity to the Company's headquarters as the
firm is also based in Beijing, China.

During the years ended December 31, 2012 and 2011, and through May 14, 2013,
there were no disagreements with Ernst & Young LLP Canada on any matter of
accounting principles or practices, financial statement disclosure, or
auditing scope, or procedures.

About Sinovac

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 including hepatitis A and B,
seasonal influenza, H5N1 pandemic influenza (avian flu), H1N1 influenza (swine
flu), and mumps, as well as animal rabies vaccine for canines. The Company
recently concluded the phase III clinical trial for enterovirus 71 (against
hand, foot and mouth disease). In 2009, Sinovac was the first company
worldwide to receive approval for its H1N1 influenza vaccine, Panflu.1, and
has manufactured it for the Chinese Central Government, pursuant to the
government-stockpiling program. The Company is also the only supplier of the
H5N1 pandemic influenza vaccine to the government-stockpiling program. Sinovac
is developing a number of new pipeline vaccines including vaccines for
pneumococcal polysaccharides, pneumococcal conjugate, varicella, and rubella.
Sinovac sells its vaccines mainly in China and exports selected vaccines to
Mongolia, Nepal, and the Philippines. Sinovac has also been granted a license
to commercialize seasonal flu vaccine in Mexico.

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.

Contact:

Helen Yang/Chris Lee
Sinovac Biotech Ltd.
Tel: +86-10-8279-9659/9696
Fax: +86-10-6296-6910
Email:ir@sinovac.com

Investors
Stephanie Carrington
The Ruth Group
Tel: +1-646-536-7017
Email:scarrington@theruthgroup.com

Media
Victoria Aguiar
The Ruth Group
Tel: +1-646-536-7013
Email:vaguiar@theruthgroup.com

SOURCE Sinovac Biotech Ltd.

Website: http://www.sinovac.com
 
Press spacebar to pause and continue. Press esc to stop.