Sinovac FY24 net income drops to $40.7 million; net sales fall 23.1% to $361.4 million

• Sinovac posted net income of USD 40.66 million, swinging from a loss a year earlier.
• Revenue fell 23.14% to USD 361.37 million.
• Operating loss narrowed to USD 505.54 million, improving from the prior year.
• Gross margin slipped 7.7 percentage points to 61.1% due to selling price decreases net of cost-reduction and efficiency efforts.
• Management said 2024 revenue decline was driven by lower quadrivalent influenza vaccine volume on intense competition, plus reduced mumps vaccine production.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Sinovac Biotech Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-194394), on April 30, 2026, and is solely responsible for the information contained therein.