科兴生物确认55美元特别分红，股息率高达850%创纪录

Core Viewpoint - The company, Sinovac Biotech, has confirmed a special cash dividend of $55 per share, which is part of a broader strategy to attract shareholder support amid ongoing control disputes [1][2]. Group 1: Dividend Announcement - Sinovac Biotech announced a special cash dividend of $55 per share, set to be distributed to shareholders holding shares until July 7, 2025 [1]. - This dividend represents 8.5 times the company's stock price of $6.47 prior to its suspension in 2019, resulting in a staggering dividend yield of 850% [1]. - The company plans to implement additional special cash dividends of $19 per share and between $20 to $50 per share in the future [1]. Group 2: Financial Background - Sinovac Biotech generated significant revenue during the COVID-19 pandemic, achieving $19.375 billion in revenue and $8.467 billion in net profit in 2021 [1]. - As of mid-2024, the company holds $10.3 billion in cash and cash equivalents [1]. Group 3: Governance and Control Issues - The company has faced ongoing disputes over control, particularly between founder Yin Weidong and Pan Aihua, leading to a forced suspension from NASDAQ in February 2019 due to governance failures [1]. - In January, the UK Judicial Committee ruled that the 2018 shareholder meeting had procedural flaws, resulting in new board members being appointed, which sparked further controversy [2]. - On July 9, a special shareholder meeting led to the removal of the current board and the election of a new board, which includes key figures committed to supporting the announced dividend plan [2]. Group 4: Market Implications - The total potential cash distribution from the highest dividend plan could reach $7.5 billion, accounting for approximately 73% of the company's cash reserves [2]. - This "liquidation-style" dividend is interpreted as a strategy to garner shareholder support and potentially weaken competitors' control resources [2]. - The company has been suspended from trading for over six years, and its core products face production risks, with the new board aiming to restore trading to create long-term value for shareholders [2].