Beijing News Beike Finance (Reporter Ding Shuang) - On November 18, U.S.-listed Sinovac Biotech Ltd. announced that it received a delisting notice from Nasdaq on November 12. This was due to its failure to submit its 2024 Annual Report by the extended deadline. Unless the company requests a hearing before the Nasdaq Hearings Panel, its securities will be suspended from trading at the opening of the market on November 21 and will be delisted.
On the evening of November 19, in response to the delisting notice from Nasdaq, Sinovac Biotech stated to a Beijing News Beike Finance reporter that the matter pertains to a subsequent procedure stemming from the delayed submission of its 2024 Annual Report (Form 20-F), which was caused by the previous resignation of its auditing firm. The company noted it had previously disclosed this information. Sinovac has now engaged UHY LLP as its new independent auditor and is working at full capacity to facilitate the audit and preparation of the annual report, striving to complete and submit it promptly to regain compliance with Nasdaq's requirements. The company added that it maintains active communication with Nasdaq and intends to formally request an extension for the filing deadline and appeal the delisting by requesting a hearing, as per the regulations. It emphasized that today's announcement is a routine disclosure made in accordance with regulatory requirements following the receipt of the delisting notice.
Simultaneously, Sinovac Biotech underscored the need for a clear explanation: the matter concerning its U.S. listing status will not have a material impact on the company's core business operations. Currently, all business activities across Sinovac, including vaccine R&D, production, supply, and market promotion, remain fully operational. The company will continue to ensure uninterrupted product supply and support for public health services worldwide.

Reference: https://finance.eastmoney.com/a/202511193569100975.html