Antigua High Court gives Sinovac Biotech board control until trial

Sinovac Biotech (SVA) announced that the Antigua High Court has ordered that the directors Simon Anderson, Shan Fu, Shuge Jiao, Yuk Lam Lo, Yumin Qiu, Yu Wang, Andrew Yan and Yin Weidong, will comprise the board of the company until the trial listed in late April/early May 2026. The Antigua High Court decision arises from a hearing that took place on October 27, at which applicants SAIF Partners, OrbiMed Partners Master Fund and 1Globe Capital each sought injunctions to confirm the composition of their respective favored boards, pending determination of a dispute over the outcome of the company’s special shareholders meeting on July 8. The hearing of the SSM Dispute has been scheduled to take place in the Antigua High Court in late April/early May 2026, with judgment to be delivered by the Court thereafter. A board meeting was held on December 17 to make efforts to restore trading of the company’s shares on Nasdaq, to explore opportunities to properly and legally resolve the company’s ongoing disputes, and to take all necessary steps, including to facilitate to reach agreements among all parties. Andrew Yan, chairman of the board of Sinovac, stated, “The current Board is committed to the long-term and sustainable development of the Company. The Board and its Audit Committee will collaborate closely with the auditors to complete audit. The Board trusts and supports the CEO and management team in continuing to implement the Company’s current development strategy, maintaining operational stability, continuously enhancing shareholder value through sustained business growth, and collaboratively promoting the comprehensive development of the Company.”