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CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 92,697,098 $ 203,635,798
Restricted cash 11,600,321 64,097
Accounts receivable, net of allowance for doubtful accounts of $nil and $1,202,940 as of December 31, 2010 and 2011 22,744,972 15,180,002
Prepaid expenses and other current assets 11,152,142 4,995,175
Advances to suppliers 2,846,797 4,949,693
Inventories 24,176,109 11,239,762
Amount due from related party 9,887,310 903,616
Deferred tax assets - current 4,348,146 770,126
Total current assets 179,452,895 241,738,269
Property, plant and equipment, net 636,474,691 399,558,053
Prepaid land use rights 35,316,414 8,597,548
Deferred tax assets 17,900,704 918,034
Other non-current assets 9,331,938 159,035
TOTAL ASSETS 878,476,642 650,970,939
Current liabilities:    
Short-term borrowings, including current portion of long-term borrowings (including short-term borrowings and current portion of long-term borrowings of the consolidated variable interest entity without recourse to the Company of $18,175,440 and $19,030,680 as of December 31, 2010 and 2011, respectively) 111,805,245 71,600,632
Accounts payable 15,036,867 4,302,117
Advances from customers 26,060,543 45,604,506
Payables for purchases of property, plant and equipment (including payables for purchase of property, plant and equipment of the consolidated variable interest entity without recourse to the Company of $1,739,404 and $nil as of December 31, 2010 and 2011, respectively) 37,144,590 16,701,144
Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of the consolidated variable interest entity without recourse to the Company of $1,036,807 and $519,064 as of December 31, 2010 and 2011, respectively) 9,164,522 19,428,269
Amount due to related party (including amount due to related party of the consolidated variable interest entity without recourse to the Company of $nil and $73,516 as of December 31, 2010 and 2011, respectively) 3,159,356  
Income tax payable 15,469,820 13,373,181
Total current liabilities 217,840,943 171,009,849
Long-term borrowings (including long-term borrowings of the consolidated variable interest entity without recourse to the Company of $49,982,460 and $33,303,690 as of December 31, 2010 and 2011, respectively) 165,646,211 83,001,176
Long-term payables for purchase of property, plant and equipment 4,157,836  
Advance from customers 12,507,801  
Deferred government subsidies 25,853,179  
Amount due to related party (including amount due to related party of the consolidated variable interest entity without recourse to the Company of $70,071 and $nil as of December 31, 2010 and 2011, respectively)   397,241
Accrued warranty cost 444,445 139,839
Total liabilities 426,450,415 254,548,105
Commitments (Note 16)      
Daqo New Energy Corp. shareholders' equity:    
Ordinary shares; $0.0001 par value 500,000,000 shares authorized as of December 31, 2010 and 2011; 175,714,103 shares issued and outstanding as of December 31, 2010 and 2011 17,571 17,571
Additional paid in capital 142,511,581 140,305,556
Retained earnings 150,204,956 116,881,004
Accumulated other comprehensive income 18,444,123 6,276,868
Total Daqo New Energy Corp. shareholders' equity 311,178,231 263,480,999
Noncontrolling interest 140,847,996 132,941,835
Total equity 452,026,227 396,422,834
TOTAL LIABILITIES AND EQUITY $ 878,476,642 $ 650,970,939