• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    Heng Ren Partners Demands Sinovac Distribute $8.9 Billion in Cash to its Shareholders and Cause Reinstatement of Trading

    3/20/25 11:05:00 AM ET
    $SVA
    Major Pharmaceuticals
    Health Care
    Get the next $SVA alert in real time by email

    BOSTON, March 20, 2025 /PRNewswire/ -- Sinovac Biotech Ltd. (NASDAQ:SVA) ("Sinovac") shareholder Heng Ren Partners, LLC funds ("Heng Ren") today sent an open letter to Sinovac's shareholders outlining the significant and decisive action that Sinovac's Board of Directors must take to create liquidity and release cash to shareholders. Specifically, Heng Ren demands that Sinovac's Board of Directors announce a distribution of $8.9 billion in cash to its shareholders and cause the resumption of trading of the Company's shares.

    The full text of the letter follows:

    March 20, 2025

    Dear Fellow Sinovac Shareholders:

    Like you, we are shareholders in Sinovac Biotech Ltd. ("Sinovac" or the "Company").  Heng Ren Partners, LLC ("Heng Ren") manages funds that have held Sinovac shares since 2018.  Heng Ren has long believed in the Company's business and its potential, and Heng Ren's conviction was borne out by the Company's incredible success with the CoronaVac vaccine.  In 2019, before the COVID-19 pandemic, the Company's revenues were $246 million with income of $39.8 million.  By 2021, revenue soared to more than $19 billion with profits of $8.5 billion.  That incredible increase in profits and value should have been shared with us—Sinovac's shareholders and owners.  It was not.

    Unfortunately, the Company did not share its meteoric success with the shareholders.  Despite raking in massive amounts of cash—Sinovac has been sitting on more than $10 billion in net cash and cash equivalents for more than three years—the Company did not make a single distribution to shareholders.  Instead, it appears that Sinovac subsidiaries distributed billions of dollars to other entities while Sinovac common equity shareholders got nothing.  Furthermore, litigation resulted in the suspension of Sinovac trading on NASDAQ for more than six years, preventing shareholders from trading during the Company's massive transformation.  That trading suspension continues through today.  In short, shareholders were handcuffed from selling their shares at the peak of the Company's success and the Company failed to make any distributions.

    On January 16, 2025, Sinovac announced that the litigation was resolved and on February 28, Sinovac announced that a new board of directors was appointed.  The Company also announced that the new board was committed to achieving the resumption of trading.  But more than three weeks have passed, and the new board has not communicated to shareholders any concrete steps or timeline.  More importantly, the Board has not told us, the shareholders, when it will distribute the billions of dollars of hoarded cash to us, the shareholders, its rightful owners.

    Heng Ren calls for Sinovac's Board to take decisive and immediate action.  Specifically, Heng Ren has identified the following acts that the Board must take:

    1.  Distribute Cash.  The Board should distribute $8.9 billion of the Company's approximately $10.3 billion in net cash and short-term investments to all shareholders, with a record date for such distribution that is prior to the resumption of trading.

    • This distribution is long overdue. For more than three years, the Company has been sitting on more than $10 billion in net cash or cash equivalents all while shareholders were prevented from trading. This money should be distributed to the shareholders now—especially given that, from 2021–2024, Sinovac's subsidiaries distributed cash dividends totaling $2.7 billion while common shareholders like us got nothing. If shareholders like us had been paid their share of these dividends, an additional $3.9 billion in dividends would have been distributed to us. Another $5.0 billion in excess cash also should be distributed as long overdue dividends to shareholders. The Company still would be well capitalized. Dividends should have record dates prior to the resumption of any trading.

    2.  Reinstate Trading.  After announcing a plan to distribute cash to shareholders, the Company must take all action necessary to cause the resumption of trading of Sinovac's shares on NASDAQ.  The Board must immediately take and disclose all steps that it is taking to make this happen.

    • The Board must inform shareholders of a clear timeline as to when the trading of Sinovac's shares will resume on NASDAQ.



    • The Board must prevent any trading, by Company management or otherwise, of Sinovac's shares until full disclosure is made of the Company's financial condition and other material information.

    3.  Provide a Full Accounting.  Shareholders are entitled to all information necessary to determine which additional actions, if any, are warranted.

    • From 2021–2024, Sinovac's subsidiaries paid out $2.7 billion in dividends to minority shareholders. The precise context surrounding the payment of these dividends is unspecified and unknown, but Sinovac's common shareholders received nothing. Sinovac shareholders are entitled to a full and complete accounting of these and any other distributions to entities or parties other than Company shareholders.



    • Shareholders are entitled to information regarding all related party transactions entered into by the Company or any of its subsidiaries, on the one hand, and any member of the prior board or any entity controlled or affiliated with any member of the prior board, on the other hand.

    There should be little doubt about the value of Sinovac's shares.  In its most recent holdings filing with the U.S. Securities and Exchange Commission (SEC), OrbiMed Advisors LLC, a large and well-respected biotech and life sciences fund family, which owns 3.8% of Sinovac, reported the value of its Sinovac stake at $333.9 million, or $122.85 per share. Not the price of $6.47 frozen since the trading halt in 2019.

    https://www.sec.gov/Archives/edgar/data/1055951/000117266125001136/xslForm13F_X02/infotable.xml

    With the resolution of the litigation and the appointment of the new board, the Company must act with transparency and urgency to distribute cash with a record date prior to the resumption of trading, resume trading of Sinovac's shares, and provide an accounting to the Company's shareholders.  We urge our fellow shareholders to demand that the new Board take these actions.

    About Heng Ren:

    Heng Ren Partners is a Boston-based asset management firm investing in Chinese companies.  Ropes & Gray LLP is serving as its legal counsel.

    Any shareholder may obtain additional information or contact Heng Ren

    at https://www.hengreninvestment.com and click "Sinovac Fairness."

     

    Cision View original content:https://www.prnewswire.com/news-releases/heng-ren-partners-demands-sinovac-distribute-8-9-billion-in-cash-to-its-shareholders-and-cause-reinstatement-of-trading-302407158.html

    SOURCE Heng Ren Partners

    Get the next $SVA alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $SVA

    DatePrice TargetRatingAnalyst
    More analyst ratings

    $SVA
    SEC Filings

    See more
    • SEC Form 6-K filed by Sinovac Biotech, Ltd.

      6-K - SINOVAC BIOTECH LTD (0001084201) (Filer)

      7/2/25 5:08:18 PM ET
      $SVA
      Major Pharmaceuticals
      Health Care
    • SEC Form 6-K filed by Sinovac Biotech, Ltd.

      6-K - SINOVAC BIOTECH LTD (0001084201) (Filer)

      6/30/25 7:00:14 AM ET
      $SVA
      Major Pharmaceuticals
      Health Care
    • SEC Form 6-K filed by Sinovac Biotech, Ltd.

      6-K - SINOVAC BIOTECH LTD (0001084201) (Filer)

      6/25/25 6:05:20 AM ET
      $SVA
      Major Pharmaceuticals
      Health Care

    $SVA
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Leading Independent Proxy Advisory Firm ISS Joins Glass Lewis in Recommending Shareholders Vote to Keep the Current SINOVAC Board in Place

      ISS states, "[T]he [current] board appears to be working to pay SVA shareholders their fair share of dividends, and to resume trading of the company's shares, which are the two most pressing issues currently facing SVA shareholders." SINOVAC's Board of Directors encourages shareholders to follow recommendations by ISS and Glass Lewis and VOTE the WHITE proxy card "AGAINST" the misguided proposals to remove the SINOVAC Board and appoint the Reconstituted Imposter Former Board Slate Special Meeting of SINOVAC shareholders to be held on July 8, 2025 To learn more, visit: VoteSinovac.com The Board of Directors of SINOVAC Biotech Ltd. (NASDAQ:SVA) ("SINOVAC" or the "Company"), a leading

      7/3/25 7:34:00 PM ET
      $SVA
      Major Pharmaceuticals
      Health Care
    • United States District Court of Massachusetts Bars Activist 1Globe Capital and Jiaqiang Li From Making Further Materially Misleading Statements Regarding Sinovac

      Court Found That 1Globe and Li Likely Violated Disclosure Obligations; Mandates Both File Updated Disclosures Within 5 Days of Order Decision Cites Prolonged Pattern of Corruption and Deception by 1Globe and Li Vivo Calls on All Shareholders to Support SAIF's Slate of Qualified Nominees, Reject 1Globe's Deception, and Stand Up for Transparent Corporate Governance Ahead of Special Meeting of Shareholders on July 8, 2025 Vivo Capital ("Vivo" or "we"), a leading global investment firm focused exclusively on healthcare and life sciences and a long-term shareholder of Sinovac Biotech Ltd. (NASDAQ:SVA) ("Sinovac" or the "Company"), today announced that the United States District Court of Ma

      7/2/25 10:55:00 AM ET
      $SVA
      Major Pharmaceuticals
      Health Care
    • SAIF Partners: Now is Your Last Chance to Vote for Board Change at Sinovac

      Sinovac's Special Meeting of Shareholders is Just Days Away; Your Vote Matters No Matter How Many Shares You Own SAIF Partners Urges Shareholders to Vote the GOLD Proxy Card "FOR" its Director Candidates to End Years of Chaos, Restore Credibility and Unlock Long-Term Value for All Sinovac Shareholders SAIF Partners IV L.P., ("SAIF Partners", "we" or "us"), the largest single investor in Sinovac Biotech Ltd. ("Sinovac" or the "Company") which beneficially owns approximately 15% of the Company's outstanding common shares, today urged shareholders to immediately vote "FOR" the election of SAIF Partners' ten highly qualified director candidates to the Company's Board of Directors (the "Boar

      7/2/25 9:20:00 AM ET
      $SVA
      Major Pharmaceuticals
      Health Care

    $SVA
    Leadership Updates

    Live Leadership Updates

    See more
    • Leading Independent Proxy Advisory Firm ISS Joins Glass Lewis in Recommending Shareholders Vote to Keep the Current SINOVAC Board in Place

      ISS states, "[T]he [current] board appears to be working to pay SVA shareholders their fair share of dividends, and to resume trading of the company's shares, which are the two most pressing issues currently facing SVA shareholders." SINOVAC's Board of Directors encourages shareholders to follow recommendations by ISS and Glass Lewis and VOTE the WHITE proxy card "AGAINST" the misguided proposals to remove the SINOVAC Board and appoint the Reconstituted Imposter Former Board Slate Special Meeting of SINOVAC shareholders to be held on July 8, 2025 To learn more, visit: VoteSinovac.com The Board of Directors of SINOVAC Biotech Ltd. (NASDAQ:SVA) ("SINOVAC" or the "Company"), a leading

      7/3/25 7:34:00 PM ET
      $SVA
      Major Pharmaceuticals
      Health Care
    • SINOVAC Board of Directors Prevails Against Advantech/Prime's Lawsuit in Hong Kong

      Hong Kong Court denies Advantech/Prime's petition for Interim Relief Clears another legal hurdle for distribution of the US$55.00 per common share special cash dividend declared by the current SINOVAC Board to be paid on or about July 7, 2025 The Board of Directors of SINOVAC Biotech Ltd. (NASDAQ:SVA) ("SINOVAC" or the "Company"), a leading provider of biopharmaceutical products in China, today announced it has prevailed against the latest lawsuit filed by Advantech/Prime Success ("Advantech/Prime") in Hong Kong. This result follows Advantech/Prime's recently failed petition in New York last week, which was a repeated attempt by the purported PIPE Investors to block or delay a hearing f

      6/27/25 7:12:00 PM ET
      $SVA
      Major Pharmaceuticals
      Health Care
    • SAIF Partners Files Definitive Proxy Materials in Connection with Sinovac Biotech 2025 Special Meeting of Shareholders; Nominates Ten Highly Qualified Director Candidates to the Board

      Sends Open Letter to Sinovac Shareholders Calling for a New Board to End Years of Chaos at Sinovac SAIF Nominees Will Work to Resolve Costly Legal Battles, Take Action to Resume Stock Trading after Six-Year Halt, and Facilitate Distribution of Cash That Rightfully Belongs to Shareholders Urges Sinovac Shareholders to VOTE the GOLD Proxy Card FOR the Election of SAIF's Director Nominees SAIF Partners IV L.P., ("SAIF Partners"), the largest single investor in Sinovac Biotech Ltd. ("Sinovac" or the "Company"), beneficially owning approximately 15% of the outstanding common shares, today announced that it has filed a definitive proxy statement for the election of ten director nominees to

      6/16/25 11:52:00 AM ET
      $SVA
      Major Pharmaceuticals
      Health Care

    $SVA
    Financials

    Live finance-specific insights

    See more
    • United States District Court of Massachusetts Bars Activist 1Globe Capital and Jiaqiang Li From Making Further Materially Misleading Statements Regarding Sinovac

      Court Found That 1Globe and Li Likely Violated Disclosure Obligations; Mandates Both File Updated Disclosures Within 5 Days of Order Decision Cites Prolonged Pattern of Corruption and Deception by 1Globe and Li Vivo Calls on All Shareholders to Support SAIF's Slate of Qualified Nominees, Reject 1Globe's Deception, and Stand Up for Transparent Corporate Governance Ahead of Special Meeting of Shareholders on July 8, 2025 Vivo Capital ("Vivo" or "we"), a leading global investment firm focused exclusively on healthcare and life sciences and a long-term shareholder of Sinovac Biotech Ltd. (NASDAQ:SVA) ("Sinovac" or the "Company"), today announced that the United States District Court of Ma

      7/2/25 10:55:00 AM ET
      $SVA
      Major Pharmaceuticals
      Health Care
    • SAIF Partners: Now is Your Last Chance to Vote for Board Change at Sinovac

      Sinovac's Special Meeting of Shareholders is Just Days Away; Your Vote Matters No Matter How Many Shares You Own SAIF Partners Urges Shareholders to Vote the GOLD Proxy Card "FOR" its Director Candidates to End Years of Chaos, Restore Credibility and Unlock Long-Term Value for All Sinovac Shareholders SAIF Partners IV L.P., ("SAIF Partners", "we" or "us"), the largest single investor in Sinovac Biotech Ltd. ("Sinovac" or the "Company") which beneficially owns approximately 15% of the Company's outstanding common shares, today urged shareholders to immediately vote "FOR" the election of SAIF Partners' ten highly qualified director candidates to the Company's Board of Directors (the "Boar

      7/2/25 9:20:00 AM ET
      $SVA
      Major Pharmaceuticals
      Health Care
    • Leading Independent Proxy Advisory Firm Glass Lewis Recommends SINOVAC Shareholders Vote to Keep the Current Board in Place

      Glass Lewis concludes, "[T]he current board has demonstrated credible progress in restoring governance stability and operational normalcy. [...] The Dissident Group's proposals, by contrast, rest on an inconsistent platform, rely on individuals linked to the governance failures of the past, and raise material questions about their ability to credibly resolve the challenges ahead." SINOVAC's Current Board of Directors encourages shareholders to follow Glass Lewis' Recommendation and VOTE the WHITE proxy card "AGAINST" the misguided proposals to remove the SINOVAC Board and appoint the Reconstituted Imposter Former Board Slate Special Meeting of SINOVAC shareholders to be held on July 8,

      7/2/25 1:03:00 AM ET
      $SVA
      Major Pharmaceuticals
      Health Care

    $SVA
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13D/A filed by Sinovac Biotech, Ltd.

      SC 13D/A - SINOVAC BIOTECH LTD (0001084201) (Subject)

      9/12/24 4:03:46 PM ET
      $SVA
      Major Pharmaceuticals
      Health Care
    • Amendment: SEC Form SC 13D/A filed by Sinovac Biotech, Ltd.

      SC 13D/A - SINOVAC BIOTECH LTD (0001084201) (Subject)

      6/17/24 4:02:44 PM ET
      $SVA
      Major Pharmaceuticals
      Health Care
    • SEC Form SC 13G/A filed by Sinovac Biotech, Ltd. (Amendment)

      SC 13G/A - SINOVAC BIOTECH LTD (0001084201) (Subject)

      3/20/24 7:33:23 AM ET
      $SVA
      Major Pharmaceuticals
      Health Care