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RELATED PARTY TRANSACTIONS AND BALANCES (Tables) | 12 Months Ended
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Dec. 31, 2012
RELATED PARTY TRANSACTIONS AND BALANCES [Abstract] |
Schedule of Related Party Balances, Loans | The balances due from related parties include consideration for the transfer of 100% ownership of Nanjing Daqo to Daqo Group. Such balances are unsecured, interest-free, and are payable on demand. The balances are as follows:
|  | December 31, |
|  | 2011 |  |  | 2012 |
Amount due from related party |  |  |  |  |  |  |  |
Zhenjiang Daqo |  | $ | 7,462,697 |  |  | $ | 10,744 |
Daqo Group |  |  | 2,294,988 |  |  |  | 6,440,129 |
Others |  |  | 129,625 |  |  |  | 111,614 |
Total |  | $ | 9,887,310 |  |  | $ | 6,562,487 |
Schedule of Related Party Balances, Payables | Balance due to related parties include payables for prepayment of polysilicon procurement from Daqo Solar and Xinjiang Daqo Investment and interest bearing loan lent from to Nanjing Daqo. The balances are as follows:
|  | December 31, |
|  | 2011 |  |  | 2012 |
Amount due to related party |  |  |  |  |  |  |  |
Daqo Group |  | $ | - |  |  | $ | 5,359,008 |
Xinjiang Daqo Investment |  |  | - |  |  |  | 2,354,620 |
Nanjing Daqo |  |  | - |  |  |  | 1,645,923 |
Daqo Solar |  |  | 1,552,126 |  |  |  | 13,497,972 |
Others |  |  | 1,607,230 |  |  |  | 850,840 |
Total |  | $ | 3,159,356 |  |  | $ | 23,708,363 |
Schedule of Related Party Transactions |
The transactions with Daqo Group and its subsidiaries were as follows:
|  | Transaction Nature |  | Year Ended December 31, |
Name of Related parties |  |  | 2010 |  |  | 2011 |  |  | 2012 |
Daqo Group |  | Sales |  | $ | - |  |  | $ | 1,971 |  |  | $ | - |
|  | Purchase-Fixed asset |  |  | - |  |  |  | 15,787,658 |  |  |  | 7,849,533 |
|  | Financing-cash in |  |  | - |  |  |  | 3,095,120 |  |  |  | - |
|  | Financing-cash out |  |  | - |  |  |  | 3,095,120 |  |  |  | - |
|  | Disposition of 100% equity interest of Nan Jing Daqo |  |  | - |  |  |  | - |  |  |  | 9,888,742 |
|  | Prepayment for purchase of fixed assets |  |  | - |  |  |  | - |  |  |  | 1,330,044 |
Zhenjiang Daqo |  | Sales |  |  | - |  |  |  | 6,958,317 |  |  |  | 2,799,428 |
|  | Purchase of cells |  |  | - |  |  |  | 3,314,115 |  |  |  | - |
|  | Processing fee |  |  | - |  |  |  | 1,209,769 |  |  |  | - |
Daqo Solar |  | Purchase-Fixed asset |  |  | 12,942,750 |  |  |  | 20,562,272 |  |  |  | - |
|  | Prepayment received |  |  | - |  |  |  | - |  |  |  | 13,497,973 |
|  | Financing-cash in |  |  | - |  |  |  | 72,199,600 |  |  |  | - |
|  | Financing-cash out |  |  | - |  |  |  | 72,199,600 |  |  |  | - |
|  | Interest charged |  |  | - |  |  |  | 1,552,126 |  |  |  | - |
|  | Short-term interest free loan extended to Daqo Solar |  |  | - |  |  |  | 9,898,458 |  |  |  | - |
Nanjing Daqo |  | Sales |  |  | - |  |  |  | - |  |  |  | 80,126 |
|  | Related party interest bearing loan |  |  | - |  |  |  | - |  |  |  | 1,584,820 |
|  | Interest charged |  |  | - |  |  |  | - |  |  |  | 40,611 |
Xinjiang Daqo Investment |  | Prepayment received |  |  | - |  |  |  | - |  |  |  | 2,354,620 |
Others subsidiaries under Daqo Group |  | Sales |  |  | - |  |  |  | 427,302 |  |  |  | - |
|  | Purchase-Fixed asset |  |  | 989,235 |  |  |  | 2,027,001 |  |  |  | 202,556 |
|  | Purchase-Raw material |  |  |  |  |  |  | 300,574 |  |  |  | 5,282 |
|  | Rental expense |  |  | 32,136 |  |  |  | 612,856 |  |  |  | - |
|  | Service expense |  |  | - |  |  |  | 71,426 |  |  |  | - |
Total |  | Sales |  | $ | - |  |  | $ | 7,387,590 |  |  | $ | 2,799,428 |
|  | Disposition of 100% equity interest in Nanjing Daqo |  | $ | - |  |  | $ | - |  |  | $ | 9,888,742 |
|  | Purchase-Fixed asset |  | $ | 13,931,985 |  |  | $ | 38,376,931 |  |  | $ | 8,052,089 |
|  | Purchase-Raw material |  | $ | - |  |  | $ | 3,614,689 |  |  | $ | 5,282 |
|  | Processing fee |  | $ | - |  |  | $ | 1,209,769 |  |  | $ | - |
|  | Rental expense |  | $ | 32,136 |  |  | $ | 612,856 |  |  | $ | - |
|  | Service expense |  | $ | - |  |  | $ | 71,426 |  |  | $ | - |
|  | Interest expense |  | $ | - |  |  | $ | 1,552,126 |  |  | $ | 40,611 |
|  | Prepayment received |  | $ | - |  |  | $ | - |  |  | $ | 15,852,593 |
|  | Prepayment for purchase of fixed assets |  | $ | - |  |  | $ | - |  |  | $ | 1,330,044 |
|  | Cash received |  | $ | - |  |  | $ | 75,294,720 |  |  | $ | 1,584,820 |
|  | Cash paid |  | $ | - |  |  | $ | 85,193,178 |  |  | $ | - |

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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