Sinovac is a China-based biopharmaceutical company that develops, manufactures, and sells vaccines for human infectious diseases. The company’s portfolio includes Healive for hepatitis A, Anflu for seasonal influenza, and VARINOVA for chickenpox, as well as vaccines for polio and hand, foot and mouth disease. Sinovac generates revenue through two primary models. In the Chinese private-pay market, Sinovac sells vaccines to consumers, positioning its products as higher-quality alternatives to standard domestic vaccines. In the government and institutional channel, Sinovac supplies vaccines for China’s national immunization program and competes for international tenders from foreign governments and UN procurement agencies. While the company previously supplied COVID-19 vaccines, it ceased this supply as demand declined. WHO prequalification drives international sales by enabling Sinovac to participate in UN and government tenders. Profitability depends on high production volume to cover fixed manufacturing costs, and seasonal demand for influenza vaccines creates quarterly volatility. Sinovac’s strategy focuses on international expansion by establishing local production joint ventures and long-term supply agreements in emerging markets such as Turkey, Brazil, and Colombia. The company also conducts R&D to expand its pipeline into rabies and combination vaccines.