Sinovac Biotech Ltd. ( SVA), a leading provider of biopharmaceutical products in China, announced today that Sinovac was selected by China Business Media as one of China's Top 10 most competitive companies listed overseas for 2009. The honor was given to Sinovac at the 2009 China Business Annual Meeting on Enterprise Competitiveness.
The "Competitiveness Measure" is the measuring model developed by theo experts from the Research Center of Chinese Industries and Enterprise Competitiveness and China Business Media. The model evaluates the competitiveness of Chinese listed companies through the criteria including the listed companies' sales revenue, net assets, net profits, the sales revenue, growth rate of net profits, and return on net assets in the past three years. The evaluation result will become an objective and authoritative reference for management and investors.
Sinovac, an independent company publicly traded on the NASDAQ Global Market, shares a position on the list with some of China's large "State-owned Enterprises" such as China National Offshore Oil, PetroChina, China Mobile (Hong Kong), China Unicom, and China Petroleum & Chemical. Completing the Top 10 list are Yingli Green Energy Holdings Co., Ltd., Gushan Environmental Energy Limited, LDK Solar Co., Ltd., and Changzhou Trina Solar Energy Co., Ltd.
Mr. Weidong Yin, Chairman, President and CEO of Sinovac, remarked, "We would like to thank China Business and the Institute of Industrial Economics of the Chinese Academy of Social Sciences for bestowing this designation on our Company as it recognizes our collective and successful efforts to develop and commercialize vaccines within a competitive marketplace."
The Annual Meeting on Enterprise Competitiveness has been held since 2003 and is China's only economic forum combining theoretical research and economic practice. The key contents of the annual meeting include: issuing the research results of the Institute of Industrial Economics of the Chinese Academy of Social Sciences and China Business Media; releasing survey results on the competitiveness of listed Chinese enterprises based on analysis of annual report data; and inviting well-known entrepreneurs, economists, and governmental officials to discuss the hottest economic issues for the current year.