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Sinovac Reports Unaudited Second Quarter Financial Results
Date:8/14/2014

e Reduction The value added tax (VAT) rate applied to the sales of Sinovac's vaccine products has been reduced to 3% from 6%, as authorized by the Ministry of Finance and State Administration of Taxation of China. The reduced VAT rate was effective July 1, 2014, and therefore did not impact second quarter results. Going forward, the reduced VAT rate will contribute to an improvement in the profitability of the Company's vaccines in Chinese market.

Unaudited Financial Results for Second Quarter 20142014 Q2% of Sales2013 Q2%of Sales(In USD'000 except percentage data)Hepatitis A – Healive5,113

42.3%

7,021

40.2%Hepatitis A&B – Bilive6,439

53.3%

9,586

54.9%Hepatitis vaccines11,552

95.6%

16,607

95.1%Influenza vaccine-

-

48

0.3%Animal vaccine18

0.1%

65

0.4%Mumps vaccine520

4.3%

732

4.2%Regular sales12,090

100.0%

17,452

100.0%H5N1

SOURCE Sinovac Biotech Ltd.
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