科兴“宫斗”背后，第一大股东强新资本的算盘

Group 1 - The core issue revolves around the ongoing equity dispute at Sinovac Biotech, with current chairman Li Jiaqi aiming to resolve the conflict to ensure fair treatment for all shareholders [1][2][4] - Li Jiaqi controls approximately one-third of Sinovac Biotech's shares through his company, Strong New Capital, making him the largest shareholder [2][4] - The equity struggle has been ongoing since 2018, evolving from a dispute between the original founders to a broader conflict involving multiple investment groups [4] Group 2 - Strong New Technology, founded by Li Jiaqi in 2011, is a Chinese innovative pharmaceutical company focused on developing original drugs without any foreign investors [1][3] - The global capital market is increasingly interested in China's innovative drug development, contrasting with the less exciting vaccine sector, as exemplified by Moderna's market cap decline [3] - Winning the equity battle at Sinovac could enhance Li Jiaqi's capital positioning for Strong New Technology's drug development efforts, although future capital raising plans remain unclear [3]