2022 Q4 Form 20-F Financial Statement

#000095017023015997 Filed on May 01, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021 Q4
Revenue $280.5M $1.493B $8.394B
YoY Change -96.66% -92.3% 2463.01%
Cost Of Revenue $430.1M $684.5M $440.5M
YoY Change -2.35% -36.16% 912.54%
Gross Profit -$149.6M $808.3M $7.953B
YoY Change -101.88% -95.58% 2701.48%
Gross Profit Margin -53.35% 54.15% 94.75%
Selling, General & Admin $671.1M $823.5M $432.0M
YoY Change 55.34% 38.61% 413.11%
% of Gross Profit 101.89% 5.43%
Research & Development $257.7M $442.1M $101.1M
YoY Change 154.84% 185.16% 3645.52%
% of Gross Profit 54.7% 1.27%
Depreciation & Amortization $78.84M $153.8M $68.85M
YoY Change 14.52% 77.15% 5637.08%
% of Gross Profit 19.03% 0.87%
Operating Expenses $928.1M $1.274B $533.1M
YoY Change 74.08% 70.27% 513.5%
Operating Profit -$1.078B -$466.1M $7.420B
YoY Change -114.52% -102.66% 3666.63%
Interest Expense $106.2M $189.6M $70.45M
YoY Change 50.72% 90.06% 70350.0%
% of Operating Profit 0.95%
Other Income/Expense, Net $72.29M $301.8M -$89.00M
YoY Change -181.23% -435.47% -6457.07%
Pretax Income -$901.2M $25.24M $7.401B
YoY Change -112.18% -99.86% 3630.36%
Income Tax -$198.9M -$62.89M $1.534B
% Of Pretax Income -249.2% 20.73%
Net Earnings -$373.7M $113.9M $3.359B
YoY Change -111.12% -98.66% 2987.46%
Net Earnings / Revenue -133.23% 7.63% 40.02%
Basic Earnings Per Share $1.08
Diluted Earnings Per Share -$3.76 $1.00 $29.47M
COMMON SHARES
Basic Shares Outstanding 99.50M 99.50M
Diluted Shares Outstanding 114.2M

Balance Sheet

Concept 2022 Q4 2022 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.31B $11.31B $13.42B
YoY Change -15.67% -15.67% 1040.47%
Cash & Equivalents $4.278B $4.278B $11.61B
Short-Term Investments $7.035B $7.035B $1.806B
Other Short-Term Assets $23.50M $23.50M $171.9M
YoY Change -86.33% -86.33% 595.92%
Inventory $180.7M $180.7M $375.5M
Prepaid Expenses
Receivables $537.1M $497.0M $952.4M
Other Receivables $72.37M $112.5M $0.00
Total Short-Term Assets $12.13B $12.13B $14.92B
YoY Change -18.7% -18.7% 855.91%
LONG-TERM ASSETS
Property, Plant & Equipment $993.8M $1.052B $1.019B
YoY Change -2.44% 3.31% 258.44%
Goodwill
YoY Change
Intangibles $9.699M $1.480M
YoY Change 555.34%
Long-Term Investments $661.4M $661.4M $655.8M
YoY Change 0.85% 0.85%
Other Assets $2.798M $264.7M $157.1M
YoY Change -98.22% 68.5% 183.53%
Total Long-Term Assets $1.988B $1.988B $1.833B
YoY Change 8.46% 8.46% 437.56%
TOTAL ASSETS
Total Short-Term Assets $12.13B $12.13B $14.92B
Total Long-Term Assets $1.988B $1.988B $1.833B
Total Assets $14.11B $14.11B $16.75B
YoY Change -15.72% -15.72% 780.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $905.9M $19.83M $1.021B
YoY Change -11.24% -66.16% 382.81%
Accrued Expenses $242.5M $250.3M $10.39M
YoY Change 2235.37% -53.39% 196.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.651M $4.651M $4.681M
YoY Change -0.64% -0.64% -88.03%
Total Short-Term Liabilities $1.092B $1.092B $2.413B
YoY Change -54.76% -54.76% 255.04%
LONG-TERM LIABILITIES
Long-Term Debt $11.51M $11.51M $17.38M
YoY Change -33.74% -33.74% 109.35%
Other Long-Term Liabilities $240.0K $57.23M $117.8M
YoY Change -99.8% -51.41% 30.0%
Total Long-Term Liabilities $310.3M $68.75M $135.2M
YoY Change 129.57% -49.14% 36.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.092B $1.092B $2.413B
Total Long-Term Liabilities $310.3M $68.75M $135.2M
Total Liabilities $1.402B $5.193B $7.421B
YoY Change -81.11% -30.02% 542.54%
SHAREHOLDERS EQUITY
Retained Earnings $7.226B $7.142B
YoY Change 1.18%
Common Stock $540.7M $547.8M
YoY Change -1.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.921B $8.921B $9.327B
YoY Change
Total Liabilities & Shareholders Equity $14.11B $14.11B $16.75B
YoY Change -15.72% -15.72% 780.88%

Cashflow Statement

Concept 2022 Q4 2022 2021 Q4
OPERATING ACTIVITIES
Net Income -$373.7M $113.9M $3.359B
YoY Change -111.12% -98.66% 2987.46%
Depreciation, Depletion And Amortization $78.84M $153.8M $68.85M
YoY Change 14.52% 77.15% 5637.08%
Cash From Operating Activities $37.42M -$770.7M $6.265B
YoY Change -99.4% -105.02% 1202.31%
INVESTING ACTIVITIES
Capital Expenditures $124.0M $403.4M -$288.5M
YoY Change -142.97% -156.03% 398.26%
Acquisitions
YoY Change
Other Investing Activities -$2.052B -$5.357B $539.8M
YoY Change -480.12% 132.55% -672.43%
Cash From Investing Activities -$2.176B -$5.760B $251.3M
YoY Change -965.81% 90.52% -265.12%
FINANCING ACTIVITIES
Cash Dividend Paid $263.2M
YoY Change -85.97%
Common Stock Issuance & Retirement, Net $0.00 $996.0K
YoY Change -100.0% -50.2%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -253.1M -241.4M -1.867B
YoY Change -86.44% -87.27% -444.6%
NET CHANGE
Cash From Operating Activities 37.42M -770.7M 6.265B
Cash From Investing Activities -2.176B -5.760B 251.3M
Cash From Financing Activities -253.1M -241.4M -1.867B
Net Change In Cash -2.392B -7.333B 4.650B
YoY Change -151.43% -170.3% 434.12%
FREE CASH FLOW
Cash From Operating Activities $37.42M -$770.7M $6.265B
Capital Expenditures $124.0M $403.4M -$288.5M
Free Cash Flow -$86.55M -$1.174B $6.554B
YoY Change -101.32% -107.31% 1115.94%

Facts In Submission

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SINOVAC BIOTECH LTD
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CY2022 sva Government Grants Recognized In Income
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CY2021 sva Government Grants Recognized In Income
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Proceeds From Divestiture Of Interest In Consolidated Subsidiaries
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CY2020 us-gaap Payments To Acquire Equity Securities Fv Ni
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022 us-gaap Use Of Estimates
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<p style="margin-left:6.667%;text-indent:-3.704%;padding-left:3.333%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">(a) Use of Estimates</span></p><p style="margin-left:10.0%;text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">In preparation of the Company’s consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates made by management include provision for product returns, allowance for doubtful accounts, inventory provisions, impairment of long-lived assets, fair value of options granted and related forfeiture rates, and realizability of deferred tax assets. On an ongoing basis, management reviews its estimates to ensure that these estimates appropriately reflect changes in the Company’s business and new information as it becomes available. If historical experience and other factors used by management to make these estimates do not reasonably reflect future activity, the Company’s consolidated financial statements could be materially impacted.</span></p>
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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11619760000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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1050204000
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CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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