Intrinsic value of Sinovac Biotech - SVA

Previous Close

$7.68

  Intrinsic Value

$246.90

stock screener

  Rating & Target

str. buy

+999%

Previous close

$7.68

 
Intrinsic value

$246.90

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of SVA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  279
  431
  645
  935
  1,319
  1,814
  2,435
  3,197
  4,114
  5,196
  6,452
  7,889
  9,508
  11,313
  13,302
  15,474
  17,824
  20,350
  23,048
  25,913
  28,941
  32,130
  35,477
  38,980
  42,639
  46,454
  50,428
  54,562
  58,861
  63,328
Variable operating expenses, $m
  157
  243
  363
  527
  743
  1,021
  1,371
  1,800
  2,316
  2,925
  3,633
  4,441
  5,353
  6,369
  7,489
  8,712
  10,035
  11,457
  12,976
  14,589
  16,294
  18,089
  19,973
  21,946
  24,006
  26,154
  28,391
  30,718
  33,139
  35,654
Fixed operating expenses, $m
  33
  33
  34
  35
  36
  36
  37
  38
  39
  40
  41
  42
  42
  43
  44
  45
  46
  47
  48
  49
  51
  52
  53
  54
  55
  56
  58
  59
  60
  61
Total operating expenses, $m
  190
  276
  397
  562
  779
  1,057
  1,408
  1,838
  2,355
  2,965
  3,674
  4,483
  5,395
  6,412
  7,533
  8,757
  10,081
  11,504
  13,024
  14,638
  16,345
  18,141
  20,026
  22,000
  24,061
  26,210
  28,449
  30,777
  33,199
  35,715
Operating income, $m
  89
  155
  248
  374
  541
  756
  1,027
  1,359
  1,759
  2,231
  2,779
  3,406
  4,113
  4,900
  5,769
  6,717
  7,743
  8,846
  10,024
  11,274
  12,597
  13,989
  15,450
  16,980
  18,578
  20,244
  21,979
  23,785
  25,662
  27,613
EBITDA, $m
  97
  166
  265
  399
  576
  805
  1,092
  1,445
  1,869
  2,370
  2,952
  3,617
  4,367
  5,203
  6,125
  7,131
  8,220
  9,390
  10,640
  11,968
  13,371
  14,849
  16,400
  18,023
  19,719
  21,487
  23,328
  25,244
  27,237
  29,307
Interest expense (income), $m
  2
  2
  6
  13
  21
  33
  48
  68
  93
  124
  161
  205
  255
  313
  379
  451
  531
  619
  714
  816
  924
  1,040
  1,162
  1,291
  1,426
  1,567
  1,714
  1,868
  2,028
  2,195
  2,368
Earnings before tax, $m
  87
  149
  235
  353
  508
  708
  958
  1,266
  1,635
  2,070
  2,574
  3,150
  3,799
  4,522
  5,317
  6,185
  7,124
  8,132
  9,208
  10,350
  11,557
  12,827
  14,160
  15,555
  17,011
  18,530
  20,111
  21,756
  23,467
  25,245
Tax expense, $m
  23
  40
  63
  95
  137
  191
  259
  342
  441
  559
  695
  851
  1,026
  1,221
  1,436
  1,670
  1,923
  2,196
  2,486
  2,794
  3,120
  3,463
  3,823
  4,200
  4,593
  5,003
  5,430
  5,874
  6,336
  6,816
Net income, $m
  64
  108
  172
  257
  371
  517
  700
  924
  1,193
  1,511
  1,879
  2,300
  2,774
  3,301
  3,882
  4,515
  5,200
  5,936
  6,722
  7,555
  8,436
  9,364
  10,337
  11,355
  12,418
  13,527
  14,681
  15,882
  17,131
  18,429

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  413
  638
  955
  1,385
  1,955
  2,687
  3,607
  4,736
  6,094
  7,698
  9,559
  11,687
  14,086
  16,760
  19,707
  22,924
  26,406
  30,149
  34,145
  38,389
  42,876
  47,600
  52,558
  57,748
  63,169
  68,821
  74,708
  80,833
  87,201
  93,820
Adjusted assets (=assets-cash), $m
  413
  638
  955
  1,385
  1,955
  2,687
  3,607
  4,736
  6,094
  7,698
  9,559
  11,687
  14,086
  16,760
  19,707
  22,924
  26,406
  30,149
  34,145
  38,389
  42,876
  47,600
  52,558
  57,748
  63,169
  68,821
  74,708
  80,833
  87,201
  93,820
Revenue / Adjusted assets
  0.676
  0.676
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
  0.675
Average production assets, $m
  115
  178
  266
  385
  544
  747
  1,003
  1,317
  1,695
  2,141
  2,658
  3,250
  3,917
  4,661
  5,480
  6,375
  7,344
  8,384
  9,496
  10,676
  11,924
  13,237
  14,616
  16,060
  17,567
  19,139
  20,776
  22,480
  24,251
  26,091
Working capital, $m
  22
  34
  50
  73
  103
  141
  190
  249
  321
  405
  503
  615
  742
  882
  1,038
  1,207
  1,390
  1,587
  1,798
  2,021
  2,257
  2,506
  2,767
  3,040
  3,326
  3,623
  3,933
  4,256
  4,591
  4,940
Total debt, $m
  118
  232
  391
  608
  895
  1,265
  1,728
  2,297
  2,982
  3,790
  4,728
  5,800
  7,010
  8,357
  9,842
  11,464
  13,219
  15,105
  17,119
  19,258
  21,519
  23,900
  26,399
  29,015
  31,747
  34,596
  37,563
  40,650
  43,859
  47,195
Total liabilities, $m
  208
  322
  481
  698
  985
  1,354
  1,818
  2,387
  3,072
  3,880
  4,818
  5,890
  7,100
  8,447
  9,932
  11,554
  13,309
  15,195
  17,209
  19,348
  21,609
  23,990
  26,489
  29,105
  31,837
  34,686
  37,653
  40,740
  43,949
  47,285
Total equity, $m
  205
  317
  474
  687
  970
  1,333
  1,789
  2,349
  3,023
  3,818
  4,741
  5,797
  6,987
  8,313
  9,775
  11,370
  13,098
  14,954
  16,936
  19,041
  21,266
  23,609
  26,069
  28,643
  31,332
  34,135
  37,055
  40,093
  43,252
  46,535
Total liabilities and equity, $m
  413
  639
  955
  1,385
  1,955
  2,687
  3,607
  4,736
  6,095
  7,698
  9,559
  11,687
  14,087
  16,760
  19,707
  22,924
  26,407
  30,149
  34,145
  38,389
  42,875
  47,599
  52,558
  57,748
  63,169
  68,821
  74,708
  80,833
  87,201
  93,820
Debt-to-equity ratio
  0.580
  0.730
  0.830
  0.890
  0.920
  0.950
  0.970
  0.980
  0.990
  0.990
  1.000
  1.000
  1.000
  1.010
  1.010
  1.010
  1.010
  1.010
  1.010
  1.010
  1.010
  1.010
  1.010
  1.010
  1.010
  1.010
  1.010
  1.010
  1.010
  1.010
Adjusted equity ratio
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496
  0.496

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  64
  108
  172
  257
  371
  517
  700
  924
  1,193
  1,511
  1,879
  2,300
  2,774
  3,301
  3,882
  4,515
  5,200
  5,936
  6,722
  7,555
  8,436
  9,364
  10,337
  11,355
  12,418
  13,527
  14,681
  15,882
  17,131
  18,429
Depreciation, amort., depletion, $m
  7
  12
  17
  25
  35
  49
  65
  86
  110
  139
  173
  211
  254
  303
  356
  414
  477
  544
  617
  693
  774
  860
  949
  1,043
  1,141
  1,243
  1,349
  1,460
  1,575
  1,694
Funds from operations, $m
  71
  120
  189
  282
  406
  565
  765
  1,009
  1,303
  1,650
  2,052
  2,511
  3,028
  3,604
  4,238
  4,929
  5,677
  6,481
  7,338
  8,249
  9,211
  10,223
  11,286
  12,398
  13,559
  14,770
  16,030
  17,342
  18,706
  20,123
Change in working capital, $m
  8
  12
  17
  23
  30
  39
  48
  59
  72
  84
  98
  112
  126
  141
  155
  169
  183
  197
  210
  223
  236
  249
  261
  273
  285
  298
  310
  322
  335
  348
Cash from operations, $m
  63
  108
  172
  260
  376
  527
  716
  950
  1,232
  1,566
  1,954
  2,399
  2,902
  3,463
  4,082
  4,760
  5,494
  6,284
  7,128
  8,025
  8,974
  9,975
  11,025
  12,124
  13,273
  14,472
  15,720
  17,019
  18,370
  19,774
Maintenance CAPEX, $m
  -5
  -7
  -12
  -17
  -25
  -35
  -49
  -65
  -86
  -110
  -139
  -173
  -211
  -254
  -303
  -356
  -414
  -477
  -544
  -617
  -693
  -774
  -860
  -949
  -1,043
  -1,141
  -1,243
  -1,349
  -1,460
  -1,575
New CAPEX, $m
  -43
  -63
  -88
  -120
  -158
  -204
  -256
  -314
  -378
  -446
  -518
  -592
  -667
  -744
  -820
  -895
  -968
  -1,041
  -1,111
  -1,180
  -1,248
  -1,314
  -1,379
  -1,443
  -1,508
  -1,572
  -1,637
  -1,703
  -1,771
  -1,841
Cash from investing activities, $m
  -48
  -70
  -100
  -137
  -183
  -239
  -305
  -379
  -464
  -556
  -657
  -765
  -878
  -998
  -1,123
  -1,251
  -1,382
  -1,518
  -1,655
  -1,797
  -1,941
  -2,088
  -2,239
  -2,392
  -2,551
  -2,713
  -2,880
  -3,052
  -3,231
  -3,416
Free cash flow, $m
  15
  38
  73
  123
  193
  288
  412
  571
  769
  1,010
  1,297
  1,634
  2,023
  2,465
  2,960
  3,509
  4,111
  4,766
  5,472
  6,228
  7,034
  7,887
  8,786
  9,732
  10,723
  11,759
  12,840
  13,967
  15,139
  16,359
Issuance/(repayment) of debt, $m
  78
  114
  159
  217
  287
  369
  464
  569
  685
  808
  938
  1,072
  1,209
  1,348
  1,485
  1,621
  1,755
  1,886
  2,014
  2,139
  2,261
  2,381
  2,499
  2,616
  2,732
  2,849
  2,967
  3,087
  3,210
  3,336
Issuance/(repurchase) of shares, $m
  14
  3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  92
  117
  159
  217
  287
  369
  464
  569
  685
  808
  938
  1,072
  1,209
  1,348
  1,485
  1,621
  1,755
  1,886
  2,014
  2,139
  2,261
  2,381
  2,499
  2,616
  2,732
  2,849
  2,967
  3,087
  3,210
  3,336
Total cash flow (excl. dividends), $m
  107
  155
  232
  340
  480
  657
  876
  1,140
  1,453
  1,818
  2,235
  2,707
  3,233
  3,812
  4,445
  5,131
  5,867
  6,652
  7,486
  8,367
  9,295
  10,267
  11,285
  12,348
  13,455
  14,608
  15,807
  17,054
  18,349
  19,695
Retained Cash Flow (-), $m
  -77
  -112
  -157
  -214
  -282
  -363
  -456
  -560
  -674
  -795
  -923
  -1,055
  -1,190
  -1,326
  -1,462
  -1,596
  -1,727
  -1,856
  -1,982
  -2,105
  -2,225
  -2,343
  -2,459
  -2,574
  -2,689
  -2,804
  -2,920
  -3,038
  -3,159
  -3,283
Prev. year cash balance distribution, $m
  23
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  53
  43
  75
  126
  197
  294
  419
  580
  780
  1,022
  1,312
  1,652
  2,042
  2,486
  2,984
  3,535
  4,139
  4,796
  5,504
  6,262
  7,069
  7,924
  8,826
  9,774
  10,766
  11,804
  12,888
  14,016
  15,190
  16,412
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  51
  39
  65
  104
  153
  213
  283
  362
  448
  536
  623
  705
  777
  835
  876
  898
  901
  883
  847
  796
  731
  658
  578
  498
  419
  344
  277
  217
  166
  124
Current shareholders' claim on cash, %
  96.4
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9
  95.9

Sinovac Biotech Ltd. (Sinovac) is a holding company. The Company is a biopharmaceutical company that focuses on the research, development, manufacturing and commercialization of vaccines that protect against human infectious diseases, including hepatitis A, hepatitis B, seasonal influenza, Haemagglutinase5 Neuraminidase1 (H5N1) and Influenza A (H1N1) pandemic influenza and mumps. The Company's pipeline consists of vaccine candidates in the clinical and pre-clinical development Phases in China. The Company is engaged in the sales, marketing, manufacturing and development of vaccines for infectious disease. The Company develops various products, including Healive, Bilive, Anflu, Panflu Whole Viron Pandemic Influenza Vaccine, Split Viron Pandemic Influenza Vaccine, Panflu.1, RabEnd, Mumps Vaccine, Enterovirus 71 (EV71) Vaccine, Pneumococcal Polysaccharide Vaccine, Pneumococcal Conjugate Vaccine, Rubella Vaccine, Varicella Vaccine and Sabin Inactivated Polio Vaccine.

FINANCIAL RATIOS  of  Sinovac Biotech (SVA)

Valuation Ratios
P/E Ratio -437.8
Price to Sales 6.1
Price to Book 3.8
Price to Tangible Book
Price to Cash Flow -29.2
Price to Free Cash Flow -15.6
Growth Rates
Sales Growth Rate 7.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 160%
Cap. Spend. - 3 Yr. Gr. Rate 21.1%
Financial Strength
Quick Ratio 2
Current Ratio 0.1
LT Debt to Equity 7.8%
Total Debt to Equity 37.1%
Interest Coverage 1
Management Effectiveness
Return On Assets 0.5%
Ret/ On Assets - 3 Yr. Avg. -0.3%
Return On Total Capital -0.7%
Ret/ On T. Cap. - 3 Yr. Avg. -0.8%
Return On Equity -0.8%
Return On Equity - 3 Yr. Avg. -1.1%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 69.4%
Gross Margin - 3 Yr. Avg. 72.4%
EBITDA Margin 9.7%
EBITDA Margin - 3 Yr. Avg. 15.6%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 2.6%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 2.6%
Net Profit Margin -1.4%
Net Profit Margin - 3 Yr. Avg. -2%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 66.7%
Payout Ratio 0%

SVA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SVA stock intrinsic value calculation we used $174.346 million for the last fiscal year's total revenue generated by Sinovac Biotech. The default revenue input number comes from 0001 income statement of Sinovac Biotech. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SVA stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for SVA is calculated based on our internal credit rating of Sinovac Biotech, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Sinovac Biotech.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SVA stock the variable cost ratio is equal to 56.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $32 million in the base year in the intrinsic value calculation for SVA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Sinovac Biotech.

Corporate tax rate of 27% is the nominal tax rate for Sinovac Biotech. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SVA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SVA are equal to 41.2%.

Life of production assets of 15.4 years is the average useful life of capital assets used in Sinovac Biotech operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SVA is equal to 7.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $151.152 million for Sinovac Biotech - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 57.012 million for Sinovac Biotech is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Sinovac Biotech at the current share price and the inputted number of shares is $0.4 billion.

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COMPANY NEWS

▶ DOJ Closes Investigation of Sinovac   [Sep-17-18 07:00AM  PR Newswire]
▶ SEC Concludes Investigation of Sinovac   [Aug-20-18 07:00AM  PR Newswire]
▶ Sinovac Biotech Relaunches Company Website   [Jun-11-18 09:00AM  PR Newswire]
▶ 10 Bulletproof Blue-Chip Growth Stocks to Invest In   [Apr-16-18 02:40PM  InvestorPlace]
▶ 10 Healthcare Stocks to Stave Off the Market Flu   [Apr-06-18 02:23PM  InvestorPlace]
▶ Sinovac Amends Shareholder Rights Plan   [Mar-06-18 04:01PM  PR Newswire]
▶ Sinovac Provides Update on Going Private Transaction   [Feb-07-18 08:50AM  PR Newswire]
▶ Sinovac Schedules 2017 Annual Meeting of Shareholders   [Dec-29-17 06:00AM  PR Newswire]
▶ Sinovac Biotech Announces Update on Nasdaq Matters   [Nov-30-17 06:00AM  PR Newswire]
▶ Sinovac posts 4Q profit   [Nov-22-17 05:01PM  Associated Press]

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