SEC Comment Letter 0000000000-23-007795 to SINOVAC BIOTECH LTD (SVA) (CIK 0001084201) (SVA)
SINOVAC BIOTECH LTD (SVA) (CIK 0001084201)
Date: July 21, 2023 · CIK: 0001084201 · Accession: 0000000000-23-007795
AI Filing Summary & Sentiment
File numbers found in text: 001-32371
Letter
United States securities and exchange commission logo July 21, 2023 Nan Wang Chief Financial Officer SINOVAC BIOTECH LTD No. 39 Shangdi Xi Road Haidian District, Beijing 100085 Re:SINOVAC BIOTECH LTD Form 20-F Filed May 1, 2023 File No. 001-32371 Dear Nan Wang: We have reviewed your July 10, 2023 response to our comment letter and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Unless we note otherwise, our references to prior comments are to comments in our June 26, 2023 letter. Amendment No. 1 to Annual Report on Form 20-F Cash and Asset Flow Through Our Organization, page 2 1.We note your response to prior comment 3 regarding how cash is transferred through your organization and reissue in part. Consistent with your response, please revise your disclosure to disclose (i) Sinovac Antigua did not receive any dividend from its subsidiaries and there was no cash transfer between Sinovac Antigua and its subsidiaries in 2022, (ii) Sinovac Antigua did not distribute any dividend and did not distribute any dividend to investors, including U.S. investors, in 2020, 2021 and 2022, and has no intention to distribute dividends in the near future and (iii) $263.2 million in dividends were paid by Sinovac Life Sciences Co., Ltd. to Sinovac Hong Kong and its other shareholders. Item 16I. Disclosure Regarding Foreign Jurisdiction that Prevents Inspection, page 94
FirstName LastNameNan Wang Comapany NameSINOVAC BIOTECH LTD July 21, 2023 Page 2 FirstName LastName Nan Wang SINOVAC BIOTECH LTD July 21, 2023 Page 2 2.With respect to your disclosure pursuant to Item 16I(b)(5), we note that you have included language that such disclosure is “to our knowledge.” Please supplementally confirm without qualification, if true, that your articles and the articles of your consolidated foreign operating entities do not contain wording from any charter of the Chinese Communist Party. You may contact Sasha Parikh at 202-551-3627 or Kevin Vaughn at 202-551-3494 if you have questions regarding comments on the financial statements and related matters. Please contact Doris Stacey Gama at 202-551-3188 or Jason Drory at 202-551-8342 with any other questions. Sincerely, Division of Corporation Finance Office of Life Sciences cc: Benjamin Su, Esq.
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United States securities and exchange commission logo
July 21, 2023
Nan Wang
Chief Financial Officer
SINOVAC BIOTECH LTD
No. 39 Shangdi Xi Road
Haidian District, Beijing 100085
Re:SINOVAC BIOTECH LTD
Form 20-F
Filed May 1, 2023
File No. 001-32371
Dear Nan Wang:
We have reviewed your July 10, 2023 response to our comment letter and have the
following comments. In some of our comments, we may ask you to provide us with information
so we may better understand your disclosure.
Please respond to these comments within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comments apply to your facts and circumstances, please tell us why in your response.
After reviewing your response to these comments, we may have additional
comments. Unless we note otherwise, our references to prior comments are to comments in our
June 26, 2023 letter.
Amendment No. 1 to Annual Report on Form 20-F
Cash and Asset Flow Through Our Organization, page 2
1.We note your response to prior comment 3 regarding how cash is transferred through your
organization and reissue in part. Consistent with your response, please revise your
disclosure to disclose (i) Sinovac Antigua did not receive any dividend from its
subsidiaries and there was no cash transfer between Sinovac Antigua and its subsidiaries
in 2022, (ii) Sinovac Antigua did not distribute any dividend and did not distribute any
dividend to investors, including U.S. investors, in 2020, 2021 and 2022, and has no
intention to distribute dividends in the near future and (iii) $263.2 million in dividends
were paid by Sinovac Life Sciences Co., Ltd. to Sinovac Hong Kong and its other
shareholders.
Item 16I. Disclosure Regarding Foreign Jurisdiction that Prevents Inspection, page 94
FirstName LastNameNan Wang
Comapany NameSINOVAC BIOTECH LTD
July 21, 2023 Page 2
FirstName LastName
Nan Wang
SINOVAC BIOTECH LTD
July 21, 2023
Page 2
2.With respect to your disclosure pursuant to Item 16I(b)(5), we note that you have included
language that such disclosure is “to our knowledge.” Please supplementally confirm
without qualification, if true, that your articles and the articles of your consolidated
foreign operating entities do not contain wording from any charter of the Chinese
Communist Party.
You may contact Sasha Parikh at 202-551-3627 or Kevin Vaughn at 202-551-3494 if you
have questions regarding comments on the financial statements and related matters. Please
contact Doris Stacey Gama at 202-551-3188 or Jason Drory at 202-551-8342 with any other
questions.
Sincerely,
Division of Corporation Finance
Office of Life Sciences
cc: Benjamin Su, Esq.