Part 12/13:
The culmination of this saga is both bittersweet and extraordinary. Despite the legal and regulatory hurdles, Sinovac’s shareholders have reaped significant profits: a $55 per share dividend in 2025, amounting to over $1 billion in total payouts to Ja Chan Lee and his affiliates. The value of their holdings is now effectively realized, even if the stock remains dormant.
Meanwhile, the legal battles continue, with the ultimate resolution still uncertain. The company’s enormous cash pile—equivalent to roughly 24 times its last traded share price—remains frozen, a potent reminder of how governance struggles and legal entanglements can trap value in corporate limbo.