Announcement on the Company’s Estimated External Guarantee Amount for 2026
Securities code: 688136 Securities abbreviation: Sinovac Pharmaceutical Announcement number: 2026-004
Sinovac Biopharmaceutical Co., Ltd.
Announcement on the estimated annual external guarantee limit of the company
2026
The board of directors and all directors of the company guarantee that the contents of this announcement do not contain any false records or misleading statements.
or major omissions, and assume legal responsibility for the authenticity, accuracy and completeness of its content.
Important content reminder:
Guaranteed objects and basic information
Shenzhen Sinovac Pharmaceutical Co., Ltd. (hereinafter referred to as "Shenzhen Sinovac"), Shenzhen Sinovac Pharmaceutical Co., Ltd. (hereinafter referred to as "Sinovac Pharmaceutical"), Qingdao Tuoyi Technology Co., Ltd. (hereinafter referred to as the name of the guaranteed party)
(referred to as "Qingdao Tuoyi") and other holding subsidiaries within the scope of consolidated statements (including existing, newly established or guaranteed through acquisitions)
controlled subsidiaries acquired through other means)
object
The maximum amount of this guarantee shall not exceed RMB 320 million.
The actual guarantee balance provided for it was RMB 214.3413 million.
Is it within the expected amount in the early stage? Yes □No □Not applicable:
☑
Is there a counter-guarantee for this guarantee □Yes No □Not applicable:
☑
Cumulative guarantee status
Cumulative amount of overdue external guarantees (10,000 yuan) 0
Listed companies and their holdings as of the date of this announcement
21,434.13
Total external guarantees provided by subsidiaries (10,000 yuan)
The total amount of external guarantees accounted for the most recent period for listed companies.
13.08
Proportion of audited net assets for the period (%)
□The guarantee amount (including this time) exceeds 50% of the latest audited net assets of the listed company
□The total amount of external guarantees (including this one) exceeds 100% of the listed company’s latest audited net assets
Special risk warning
□The total amount of guarantees for units outside the consolidated statements (including this time) reaches or exceeds 30% of the latest audited net assets
This time, guarantees will be provided to units with asset-liability ratios exceeding 70%.
protect
1. Overview of guarantee situation
(1) Basic information on guarantee
In order to meet the actual needs of the subsidiaries' daily operations and business development and improve the efficiency of financing applications from financial institutions, the company plans to provide joint liability guarantees with a maximum amount of no more than 320 million yuan (or equivalent foreign currency) for bank loan financing in 2026 for subsidiaries within the scope of consolidated statements (including subsidiaries newly established within the authorization period or included in the scope of consolidated statements). The company's board of directors authorized Chairman Mr. Deng Xueqin to sign various legal documents within the scope of the above guarantee limit from the date of review and approval by the board of directors to December 31, 2025.
The above guarantee amount is based on the current estimate of the company's business conditions. The company plans to apply for financing loans from banks (including but not limited to: Bank of China Co., Ltd., China Merchants Bank Co., Ltd., Shanghai Pudong Development Bank Co., Ltd., Zhuhai China Resources Bank Co., Ltd. Shenzhen Branch, Bank of Communications Co., Ltd., China Postal Savings Bank Co., Ltd. Shenzhen Nanshan District Branch), to increase the flexibility of external guarantees on the premise that the overall risk is controllable. The company can adjust and use the guarantee amount within the guarantee limit based on the actual business development needs of all subsidiaries within the scope of the consolidated statements (including existing, newly established, or acquired through acquisitions, etc.) within the authorization period. The guarantee amount for each subsidiary shall be subject to the final guarantee agreement signed between the company and banks and other financial institutions.
(2) Internal decision-making procedures
This guarantee matter has been reviewed and approved at the fifth meeting of the Audit Committee of the third session of the Board of Directors and the fifth meeting of the third session of the Board of Directors. According to the relevant laws and regulations such as the "Shanghai Stock Exchange Science and Technology Innovation Board Stock Listing Rules", the estimated guarantee amount does not need to be submitted to the shareholders' meeting for review.
(3) Basic information on guarantee estimates
Unit: Guarantee limit of RMB 10,000
Guarantee Secured Party
Share of listed company's guarantee estimate Whether it is guaranteed or not held by the guaranteed party Latest issue Up to now Newly added this time
The company's latest plan is valid and related. There are counter-parties. Guarantees. Share ratio. Assets and liabilities. Guarantee balance. Guarantee limit.
Period Net Assets Period Guarantee Guarantee Rate
Proportion
1. For holding subsidiaries
The asset-liability ratio of the secured party exceeds 70%
Sinovac Sinovac 2026
100% 138.83% 1,577.93 1,000.00 1.50% No No Pharmaceutical Pharmaceutical Effective
Qingdao 2026
100% 101.77% 875.00 - 0.51% No Tuoyi is valid
The asset-liability ratio of the secured party does not exceed 70%
Sinovac Shenzhen 2026
100% 50.02% 18,981.20 9,565.87 16.63% No No pharmaceutical Sinovac Highly effective
Note: The ratio of the guarantee amount to the latest net assets of the listed company is the ratio of the expected guarantee amount after this new guarantee to the company's net assets on September 30, 2025.
(4) Adjustment of guarantee amount
Within the above estimated guarantee limit for 2026, the company and its wholly-owned subsidiaries can allocate usage quotas to subsidiaries within the scope of the consolidated statements within the scope of the guarantee based on actual circumstances; if there are new subsidiaries within the scope of the consolidated statements during the effective period of the quota, the guarantees for these companies can also be allocated and used within the above estimated guarantee quota.
2. Basic information of the guaranteed person
(1) Basic situation
Guaranteed person type
guaranteed
Name of the guaranteed person and listed company’s major shareholders and shareholding ratio Unified social credit code person type
stock situation
Legal person Shenzhen Sinovac Pharmaceutical Co., Ltd. Wholly-owned subsidiary The company holds 100% equity of Shenzhen Sinovac 91440300MA5F1UL356 Legal person Shenzhen Sinovac Pharmaceutical Co., Ltd. Wholly-owned subsidiary The company holds 100% equity of Sinovac 91440300MA5HH4427B Legal person Qingdao Tuoyi Technology Co., Ltd. Wholly-owned subsidiary The company holds 100% equity of Qingdao Tuoyi 91370285MA7KRPHP65
Main financial indicators (10,000 yuan)
being carried
Guarantor September 30, 2025/January-September 2025 (unaudited) December 31, 2024/2024 (audited) Name
Total assets Total liabilities Net assets Operating income Total assets Total liabilities Net assets Operating income Net profit Net profit
Amount Amount Amount Enter Amount Amount Amount Enter Shenzhen
54,490.29 27,345.43 27,144.86 17,530.78 -840.93 53,561.43 25,730.24 27,831.19 31,677.40 5,174.60 Sinovac
Sinovac
3,422.38 4,751.16 -1,328.77 1,632.15 -919.16 1,094.96 1,551.92 -456.96 671.96 -857.05Medicine
Qingdao
9,041.79 9,202.17 -160.38 8,481.44 -20.12 7,021.60 7,161.86 -140.26 9,643.79 33.93Tuoyi
(2) The guaranteed person’s breach of trust
Upon inquiry, it was found that the above guaranteed persons were not the persons subject to execution for breach of trust.
3. Main contents of the guarantee agreement
The company has not yet signed a relevant guarantee agreement (except for past agreements that are still valid). The above plan
The guarantee amount is only the guarantee amount the company plans to provide in 2026. The specific guarantee amount, guarantee period and signing time shall be subject to the actual signed contract. The company's board of directors authorizes the company's chairman and his authorized persons to handle specific matters within the guarantee limit based on the needs of actual operating conditions.
4. Necessity and Reasonability of Guarantee
The above guarantee matters are to ensure the sustainable and steady development of the company's production and operation, and are estimated based on the current company's business situation. They are in line with the actual needs of the company's overall production and operation, and help to meet the company's daily fund use and expansion of business scope needs. The guarantee objects are all subsidiaries within the scope of the company's consolidated statements, and the guarantee risk is generally controllable.
5. Opinions of the Board of Directors
After deliberation by the directors present at the meeting, the expected external guarantee amount is based on a reasonable estimate of the current daily operations and business development needs of the company and its subsidiaries within the scope of the consolidated statements in 2026. The guaranteed objects are subsidiaries within the scope of the company's consolidated statements. The company has control over the guaranteed company, the risks are generally controllable, and there will be no harm to the interests of the company and shareholders, especially the interests of small and medium-sized investors. The proposal is agreed.
6. Cumulative number of external guarantees and number of overdue guarantees
As of now, the actual balance of guarantees provided by the company and its subsidiaries is 214.3413 million yuan, accounting for 13.11% of the company's audited net assets in 2024, and accounting for 6.78% of the company's audited total assets in 2024. The above guarantees are all guarantees provided by the company to its wholly-owned subsidiaries within the scope of consolidated statements.
The company and its subsidiaries have no overdue external guarantees or guarantees involving litigation, nor have they provided guarantees for shareholders, actual controllers and their related parties.
Announcement is hereby made.
Board of Directors of Sinovac Biopharmaceutical Co., Ltd.
January 1, 2026