Group 1 - The core conflict at Sinovac Biotech revolves around a control struggle, culminating in a shareholder vote that removed the current board led by Li Jiaqi and elected a new board aligned with founder Yin Weidong [1][4] - Sinovac announced a "liquidation-style dividend" plan totaling up to $7.5 billion, with a maximum dividend per share of $124, significantly higher than the pre-suspension share price of $6.47, indicating a dividend yield of 850% [1][4][7] - The company experienced a dramatic increase in revenue during the pandemic, with vaccine sales reaching $19.375 billion in 2021, but has since faced a sharp decline, reporting a loss of $79 million in 2023 [7][8] Group 2 - The dividend distribution is seen as a strategy to gain shareholder support while potentially depleting cash reserves to weaken future control by opponents [4][7] - Following the dividend payout, the company's cash reserves will be significantly reduced, leaving approximately $2 billion for operations, raising concerns about its financial sustainability [1][7] - Sinovac's non-COVID related revenue has consistently remained below $200 million per year, highlighting a lack of sustainable growth beyond its pandemic-era success [7][8]