<SEC-DOCUMENT>0001144204-14-022290.txt : 20140414
<SEC-HEADER>0001144204-14-022290.hdr.sgml : 20140414
<ACCEPTANCE-DATETIME>20140414065228
ACCESSION NUMBER:		0001144204-14-022290
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		32
CONFORMED PERIOD OF REPORT:	20131231
FILED AS OF DATE:		20140414
DATE AS OF CHANGE:		20140414

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DAQO NEW ENERGY CORP.
		CENTRAL INDEX KEY:			0001477641
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34602
		FILM NUMBER:		14761399

	BUSINESS ADDRESS:	
		STREET 1:		666 LONGDU AVENUE
		CITY:			WANZHOU, CHONGQING
		STATE:			F4
		ZIP:			404000
		BUSINESS PHONE:		(86-23) 6486-6666

	MAIL ADDRESS:	
		STREET 1:		666 LONGDU AVENUE
		CITY:			WANZHOU, CHONGQING
		STATE:			F4
		ZIP:			404000
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>v371885_20f.htm
<DESCRIPTION>FORM 20-F
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>____________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 20-F</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>____________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Mark One)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&#9744;</B></FONT></TD><TD><B>REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&#9746;</B></FONT></TD><TD><B>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B><BR>
<B>For the fiscal year ended December 31, 2013</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&#9744;</B></FONT></TD><TD><B>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B><BR>
<B>For the transition period from __________ to __________</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&#9744;</B></FONT></TD><TD><B>SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B><BR>
<B>Date of event requiring this shell company report __________</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission file number: 001-34602</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>____________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>DAQO NEW
ENERGY CORP.</B></FONT><BR>
<B>(Exact name of Registrant as specified in its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>____________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>N/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Translation of Registrant&rsquo;s name
into English)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Cayman Islands</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Jurisdiction of incorporation or organization)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>666 Longdu Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Wanzhou, Chongqing F4 404000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The People&rsquo;s Republic of China</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of principal executive offices)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Bing Sun, Chief Financial Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Tel: +(86 23) 6486 6666</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Fax: +(86 23) 6486 6688</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>666 Longdu Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Wanzhou, Chongqing F4 404000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The People&rsquo;s Republic of China</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name, Telephone, E-mail and/or Facsimile
number and Address of Company Contact Person)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B><BR CLEAR="ALL">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Securities registered or to be registered pursuant to Section&nbsp;12(b) of the Act:</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><b>Title
        of Each Class</b></P></td>
    <td style="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><b>Name
        of Exchange on Which Registered</b></P></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><font style="font-size: 10pt">American depositary shares, each representing 25 ordinary shares</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><font style="font-size: 10pt">New York Stock Exchange</font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><font style="font-size: 10pt">Ordinary shares, par value US$0.0001 per share*</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
</table>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">*</TD><TD>Not for trading, but only in connection with the listing on New York Stock Exchange of the American depositary shares.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>____________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered or to be registered pursuant to Section&nbsp;12(g)
of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">None<BR>
(Title of Class)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities for which there is a reporting obligation pursuant
to Section&nbsp;15(d) of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">None<BR>
(Title of Class)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Indicate the number of outstanding shares
of each of the issuer&rsquo;s classes of capital or common stock as of the close of the period covered by the annual report. 173,427,853
ordinary shares, par value US$0.0001 per share, as of December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Indicate by check mark if the registrant
is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this report is an annual or transition
report, indicate by check mark if the registrant is not required to file reports pursuant to Section&nbsp;13 or 15 (d)&nbsp;of
the Securities Exchange Act of 1934.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Indicate by check mark whether the registrant:
(1)&nbsp;has filed all reports required to be filed by Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)&nbsp;has been subject
to such filing requirements for the past 90 days.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Indicate by check mark whether the registrant
has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted
and posted pursuant to Rule 405 of Regulation S-T (&sect;232.405 of this chapter) during the preceding 12 months (or for such shorter
period that the registrant was required to submit and post such files).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of &ldquo;accelerated filer and
large accelerated filer&rdquo; in Rule 12b-2 of the Exchange Act. (Check one):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">Large&nbsp;accelerated&nbsp;filer&nbsp;&nbsp;<font style="font-family: Times New Roman, Times, Serif">&#9744;</font></td>
    <td style="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">Accelerated filer&nbsp;&nbsp;<font style="font-family: Times New Roman, Times, Serif">&#9744;</font></td>
    <td style="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">Non-accelerated&nbsp;filer&nbsp;&nbsp;<font style="font-family: Times New Roman, Times, Serif">&#9746;</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Indicate by check mark which basis of accounting
the registrant has used to prepare the financial statements included in this filing:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">U.S.&nbsp;GAAP&nbsp;&nbsp;<font style="font-family: Times New Roman, Times, Serif">&#9746;</font></td>
    <td style="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">International&nbsp;Financial&nbsp;Reporting Standards&nbsp;as&nbsp;issued&nbsp;by the International Accounting Standards Board&nbsp;&nbsp;<font style="font-family: Times New Roman, Times, Serif">&#9744;</font></td>
    <td style="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">Other&nbsp;&nbsp;<font style="font-family: Times New Roman, Times, Serif">&#9744;</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If &ldquo;Other&rdquo; has been checked
in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.&nbsp;&nbsp;&nbsp;&nbsp;Item&nbsp;17&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;Item&nbsp;18&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this is an annual report, indicate by
check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(APPLICABLE ONLY TO ISSUERS INVOLVED IN
BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Indicate by check mark whether the registrant
has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent
to the distribution of securities under a plan confirmed by a court.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">TABLE OF CONTENTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="width: 91%; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">INTRODUCTION</FONT></TD>
    <TD STYLE="width: 9%; padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">FORWARD-LOOKING STATEMENTS</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0 0 0 0in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">PART I</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;2. OFFER STATISTICS AND EXPECTED TIMETABLE</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;3. KEY INFORMATION</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;4. INFORMATION ON THE COMPANY</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">29</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;4A. UNRESOLVED STAFF COMMENTS</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">44</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">44</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">63</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">73</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;8. FINANCIAL INFORMATION</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">75</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;9. THE OFFER AND LISTING</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">76</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;10. ADDITIONAL INFORMATION</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">77</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;11.
    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">85</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">86</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">PART II</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">88</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">88</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">88</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;15. CONTROLS AND PROCEDURES</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">88</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;16A. AUDIT COMMITTEE FINANCIAL EXPERT</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">89</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;16B. CODE OF ETHICS</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">89</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">89</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">89</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">89</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;16F. CHANGE IN REGISTRANT&rsquo;S CERTIFYING ACCOUNTANT</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">90</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;16G. CORPORATE GOVERNANCE</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">90</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;16H. MINE SAFETY DISCLOSURE</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">90</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">PART III</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">90</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM&nbsp;17. FINANCIAL STATEMENTS</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">90</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM 18. FINANCIAL STATEMENTS</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">90</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0 0 0 0.375in; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ITEM 19. EXHIBITS</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">90</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SIGNATURES</FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">93</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">INTRODUCTION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except where the context otherwise requires:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>&ldquo;we,&rdquo; &ldquo;us,&rdquo; &ldquo;our company,&rdquo; &ldquo;our&rdquo; and &ldquo;Daqo Cayman&rdquo; refer to Daqo
New Energy Corp., its subsidiaries and, until December 30, 2013, its consolidated variable interest entity,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>&ldquo;ADSs&rdquo; refers to our American depositary shares, each of which represents 25 ordinary shares. On December 21, 2012,
we effected a change of the ADS to ordinary share ratio from one ADS representing five ordinary shares to one ADS representing
25 ordinary shares. The ratio change had the same effect as a 1-for-5 reverse ADS split,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>&ldquo;China&rdquo; or &ldquo;PRC&rdquo; refers to the People&rsquo;s Republic of China, excluding, for the purpose of this
annual report only, Taiwan, Hong Kong and Macau,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>&ldquo;shares&rdquo; or &ldquo;ordinary shares&rdquo; refers to our ordinary shares, par value $0.0001 per share, and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>&ldquo;RMB&rdquo; or &ldquo;Renminbi&rdquo; refers to the legal currency of China; &ldquo;$,&rdquo; &ldquo;dollars&rdquo;
                                                                                                              or &ldquo;U.S. dollars&rdquo; refers to the legal currency of the United States; and &ldquo;EUR&rdquo; or &ldquo;Euro&rdquo;
                                                                                                              refers to the legal currency of the European Union.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our financial statements are expressed in
U.S. dollars, which is our reporting currency. Certain of our financial data in this annual report on Form 20-F are translated
into U.S. dollars solely for the reader&rsquo;s convenience. Unless otherwise noted, all convenience translations from Renminbi
to U.S. dollars in this annual report on Form 20-F were made at a rate of RMB6.0537 to US$1.00, the exchange rate set forth in
the H.10 statistical release of the Federal Reserve Board on December 31, 2013. We make no representation that any Renminbi or
U.S. dollar amounts could have been, or could be, converted into U.S. dollars or Renminbi, as the case may be, at any particular
rate, at the rate stated above, or at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">FORWARD-LOOKING
STATEMENTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This annual report on Form 20-F contains
forward-looking statements that reflect our current expectations and views of future events. These forward looking statements are
made under the &ldquo;safe-harbor&rdquo; provisions of the U.S. Private Securities Litigation Reform Act of 1995. Known and unknown
risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from
those expressed or implied by the forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You can identify some of these forward-looking
statements by words or phrases such as &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;expect,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;aim,&rdquo;
&ldquo;estimate,&rdquo; &ldquo;intend,&rdquo; &ldquo;plan,&rdquo; &ldquo;believe,&rdquo; &ldquo;is/are likely to&rdquo; or other
similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future
events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial
needs. These forward-looking statements include statements relating to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our business and operating strategies;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our expansion and capital expenditure plans;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our operations and business prospects;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our financial condition and results of operations;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the industry regulatory environment as well as the industry outlook generally;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>future developments in the polysilicon manufacturing and photovoltaic and semiconductor industries; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>government subsidies and economic incentives for solar energy application.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This annual report on Form 20-F also contains
estimates, projections and statistical data related to the polysilicon markets and photovoltaic industry in several countries,
including China. This market data speaks as of the date it was published and includes projections that are based on a number of
assumptions and are not representations of fact. If any one or more of the assumptions underlying the market data proves to be
incorrect, actual results may differ from the projections based on these assumptions. You should not place undue reliance on these
forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The forward-looking statements made in this
annual report relate only to events or information as of the date on which the statements are made in this annual report. Except
as required by U.S. federal securities law, we undertake no obligation to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect
the occurrence of unanticipated events. You should read this annual report and the documents that we reference in this annual report
and have filed as exhibits to this annual report, completely and with the understanding that our actual future results may be materially
different from what we expect. Other sections of this annual report include additional factors which could adversely impact our
business and financial performance. Moreover, we operate in an evolving environment. New risk factors emerge from time to time
and it is not possible for our management to predict all risk factors, nor can we assess the impact of all factors on our business
or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained
in any forward-looking statements. We qualify all of our forward-looking statements by these cautionary statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">PART I</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT
AND ADVISERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;2. OFFER STATISTICS AND EXPECTED TIMETABLE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;3. KEY INFORMATION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">A.&#9;Selected Financial Data</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following selected data from the consolidated
statement of operations for our company for the three years ended December&nbsp;31, 2011, 2012 and 2013 and the balance sheet data
as of December&nbsp;31, 2012 and 2013 have been derived from our audited consolidated financial statements included elsewhere in
this annual report. Our selected data from the consolidated statement of operations for the two years ended December&nbsp;31, 2009
and 2010 and our consolidated balance sheet data as of December&nbsp;31, 2009, 2010 and 2011 have been derived from our audited
consolidated financial statements, which are not included in this annual report. We consolidated financial statements of Daqo New
Material Co., Ltd., or Daqo New Material, from July&nbsp;1, 2008 to December 30, 2013, because under Financial Accounting Standards
Board Accounting Standards Codification 810-10-15, &ldquo;Variable Interest Entities,&rdquo; we were deemed to be Daqo New Material&rsquo;s
primary beneficiary for accounting purposes. As a result of the voluntary termination of our contractual arrangements with Daqo
New Material, starting from December 31, 2013, Daqo New Material was de-consolidated from the balance sheet as of December 31,
2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The selected consolidated financial data
should be read in conjunction with, and are qualified in their entirety by reference to, our consolidated financial statements
and related notes, and &ldquo;Item 5. Operating and Financial Review and Prospects&rdquo; included elsewhere in this annual report.
Our consolidated financial statements are prepared and presented in accordance with U.S. GAAP. Our historical results are not necessarily
indicative of results to be expected in any future period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Year Ended December 31,</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2009</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font-size: 10pt; font-weight: bold; text-align: center">(in thousands of US$, except share, per
    share and per ADS data)</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold">Consolidated Statement of Operations Data:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 45%; font-size: 10pt; text-indent: -9pt; padding-left: 9pt">Revenues&#9;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">111,193</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">252,815</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">232,170</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">86,858</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">109,000</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-indent: -9pt; padding-left: 9pt">Cost of revenues&#9;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(69,252</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(144,651</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(144,946</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(124,290</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(135,103</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -9pt; padding-left: 9pt">Gross profit (loss)&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">41,942</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">108,164</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">87,224</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(37,432</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(26,103</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: -9pt; padding-left: 9pt"><font style="font-size: 10pt">Operating expenses <sup>(1)</sup>&#9;</font></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(5,210</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(12,530</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(36,472</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(51,086</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(174,528</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -9pt; padding-left: 9pt">(Loss) income from operations&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">36,732</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">95,634</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">50,752</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(88,518</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(200,631</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -9pt; padding-left: 9pt">(Loss) income before income taxes&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">30,484</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">85,744</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">43,490</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(102,992</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(219,819</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -9pt; padding-left: 9pt">Income tax expense&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(240</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(13,257</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(2,718</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(10,253</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(1,272</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -9pt; padding-left: 9pt">Net (loss) income from continuing operations&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">30,244</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">72,487</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">40,772</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(113,245</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(221,091</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: -9pt; padding-left: 9pt">Total income (loss) from discontinued operation&#9;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(308</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(3,339</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(5,858</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,392</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: -9pt; padding-left: 9pt">Net (loss) income&#9;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">29,936</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">69,148</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">34,914</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(115,637</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(221,091</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: -9pt; padding-left: 9pt">Net income (loss) attributable to noncontrolling interest&#9;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(899</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">576</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,590</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(3,708</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(150,147</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: -9pt; padding-left: 9pt">Net income (loss) attributable to Daqo New Energy shareholders&#9;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">30,835</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">65,271</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">33,324</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(111,929</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(70,944</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-indent: -9pt; padding-left: 9pt"><font style="font-size: 10pt">Earnings (loss) per ADS<sup>(2)</sup>&#9;</font></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 5.4pt">-- Continuing operations&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">7.5</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">12.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">5.50</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">(15.75</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">(10.25</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; padding-left: 5.4pt">--Discontinued operations&#9;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(0.50</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(0.75</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(0.25</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt; padding-left: 5.4pt">Basic&#9;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">7.5</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">11.50</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">4.75</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(16.00</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(10.25</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-indent: -9pt; padding-left: 9pt">--Continuing operations&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7.5</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">12.00</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">5.50</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">(15.75</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">(10.25</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-indent: -9pt; padding-left: 9pt">--Discontinued operations&#9;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(0.50</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(0.75</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(0.25</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt; text-indent: -9pt; padding-left: 9pt">Diluted&#9;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">7.5</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">11.50</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">4.75</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(16.00</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(10.25</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -9pt; padding-left: 9pt">Ordinary shares used to calculating earnings per ordinary share&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt; text-indent: -9pt; padding-left: 9pt">Basic&mdash;ordinary shares&#9;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">100,000,000</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">117,839,487</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">175,714,103</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">175,067,343</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">173,068,420</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt; text-indent: -9pt; padding-left: 9pt">Diluted&mdash;diluted shares&#9;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">104,151,834</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">140,726,323</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">175,714,103</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">175,067,343</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">173,068,420</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Note:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Includes share-based compensation expenses in the amount of $2.2 million, $2.2 million and $1.9 million for the years ended
December 31, 2011, 2012 and 2013, respectively.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Effective on December 21, 2012, Daqo adjusted the ratio of its American depositary shares (&ldquo;ADSs&rdquo;) representing
ordinary shares from one (1) ADS for five (5) ordinary shares to one (1) ADSs for twenty-five (25) ordinary shares. All per ADS
figures in this report give effect to the forgoing ADS to share ratio change.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 0">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Year Ended December 31,</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 0">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2009</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-left: 0">Other Financial and Operating Data:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 45%; font-size: 10pt; text-align: left; padding-left: 0">Polysilicon production volume (in MT)&#9;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">1,523</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">3,771</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">4,524</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right"><font style="font-size: 10pt">3,349<sup> (1)</sup></font></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">4,805</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0">Polysilicon sales volume (in MT)&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,498</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3,650</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right"><font style="font-size: 10pt">3,947<sup> (3)</sup></font></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right"><font style="font-size: 10pt">3,262<sup> (2) (3)</sup></font></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right"><font style="font-size: 10pt">4,283<sup> (3)</sup></font></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0">Unit cost of polysilicon sold (in $/kg)&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">43.9</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">31.3</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">29.9</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right"><font style="font-size: 10pt">31.9 <sup>(2)</sup></font></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right"><font style="font-size: 10pt">17.02<sup> (4)</sup></font></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Note:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Excluding 617 MT polysilicon produced in Xinjiang facilities during the pilot production period.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Excluding 323 MT polysilicon sold, and the cost of such polysilicon sold, as applicable, from Xinjiang facilities during the
pilot production period.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>The polysilicon sales volume here only refers to external sales. Internal sales to our in-house wafer facilities were 454 MT,
315 MT and 770 MT in 2011, 2012 and 2013, respectively.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD>The unit cost here only refers to the polysilicon made in Xinjiang facilities.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table presents a summary of
our consolidated balance sheet data as of the dates set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="18" STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>As of December 31,</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2009</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2010</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2011</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2012</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2013</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="16" STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(in thousands of $)</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Consolidated Balance Sheet Data:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 45%; padding-left: 13.5pt; text-indent: -13.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cash and cash equivalents&#9;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">81,414</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">203,636</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">92,697</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6,679</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7,831</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Restricted cash&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8,810</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">64</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11,600</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10,650</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8,826</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total current assets&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">120,917</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">241,738</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">179,453</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">96,511</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">91,144</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Property, plant and equipment, net&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">399,985</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">399,558</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">636,475</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">677,895</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">488,504</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total assets&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">523,923</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">650,971</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">878,477</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">816,308</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">610,200</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Short-term borrowings, including current portion of long-term borrowings&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">43,826</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">71,601</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">111,805</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">120,280</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">118,871</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total current liabilities&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">142,675</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">171,010</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">217,841</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">260,311</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">299,124</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Long-term borrowings&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">144,936</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">83,001</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">165,646</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">187,521</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">134,870</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total liabilities&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">287,829</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">254,548</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">426,450</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">475,430</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">472,873</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mezzanine equity&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">55,603</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total Daqo New Energy Corp. shareholders&rsquo; equity&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52,496</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">263,481</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">311,178</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">202,106</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">137,327</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Noncontrolling interest&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">127,996</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">132,942</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">140,848</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">138,772</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 13.5pt; text-indent: -13.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total equity&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">180,492</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">396,423</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">452,026</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">340,878</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">137,327</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total liabilities and equity&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">523,923</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">650,971</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">878,477</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">816,308</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">610,200</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>B.</B></FONT></TD>
    <TD STYLE="width: 94%; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Capitalization and Indebtedness</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Not applicable.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>C.</B></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Reasons for the Offer and Use of Proceeds</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Not applicable.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>D.</B></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Risk Factors</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Risks Relating to Our Business</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Our ability to return to growth and profitability
depend on the demand for photovoltaic products and the development of photovoltaic technologies, among other things.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The solar industry is at a relatively early
stage of development, and the extent of acceptance of photovoltaic products is uncertain. The photovoltaic industry does not have
data as far back as the semiconductor industry or other more established industries, for which trends can be assessed more reliably
from data gathered over a longer period of time. Demand for photovoltaic products may not develop or may develop to a lesser extent
than we anticipate. Many factors may affect the viability of widespread adoption of photovoltaic technology and demand for photovoltaic
products, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>decreases in government subsidies and incentives to support the development of the photovoltaic industry;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the international trade conflicts and the consequential imposed tariffs for solar photovoltaic, or PV, products;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>relative cost-effectiveness, performance and reliability of photovoltaic products compared to conventional and other renewable
energy sources and products;</TD></TR>                                      <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>success of other alternative energy sources, such as wind power, hydroelectric power and biofuel;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>fluctuations in economic and market conditions that affect the viability of conventional and other renewable energy sources,
such as increases or decreases in the prices of oil and other fossil fuels;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the ability of photovoltaic product manufacturers to finance their business operations, expansions and other capital expenditures;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>capital expenditures by end users of photovoltaic products, which tend to decrease when the economy slows down; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>deregulation or other regulatory actions affecting the electric power industry and the broader energy industry.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event that demand for solar products
does not expand as we expect or photovoltaic technologies do not develop in a manner that increases the demand for polysilicon,
average selling prices may cease their current upward trend and begin moving downward, and our future growth and profitability
will be materially and adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">After a few years of polysilicon oversupply,
a number of polysilicon manufacturers with non-competitive cost structures went out of business, reducing the severity of the oversupply.
But, with prices increasing, some polysilicon manufacturers may reenter the market, which could cause polysilicon prices to decline
and materially and adversely affect our profitability.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our polysilicon sales prices
are affected by a variety of factors, including global supply and demand conditions. Over the years, many
polysilicon manufacturers have significantly increased their capacity to meet customer demand and continue to expand
capacities in order to achieve economies of scale. However, the slow and uneven economic recovery from the global financial
crisis as well as the significant decrease in global petroleum prices since their peak in mid-2008 have reduced or delayed
the general demand for photovoltaic products. In late 2008 and 2009, newly available polysilicon supply and slowed global
photovoltaic market growth resulted in an excess supply of polysilicon, which led to a significant decline in polysilicon
prices. Although global photovoltaic demand recovered substantially from the second half of 2010 through the first half of
2011, the market price for polysilicon experienced another significant decline in the second half of 2011 due to excess
supply and decreasing demand. In 2012, the market price for polysilicon continued to decline. As a result of the polysilicon
supply and demand fluctuation, we reduced the selling price of our polysilicon and thus experienced a continued decrease in
revenues derived from polysilicon in 2012. In 2013, global demand for polysilicon began to increase, and polysilicon
manufacturers with competitive cost structures benefited from a continuing increase in sales prices and global demand. If
sales price continue to go up, some polysilicon manufacturers with less competitive cost structures may be able to reenter
the market, which could cause polysilicon prices to decline and thus materially and adversely affect our profitability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We may not be able to continue to receive
the same level of support from Daqo Group, which may have a material adverse effect on our business and results of operations.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Since our inception, we have substantially
benefited from financial support from Daqo Group, one of the largest electrical equipment manufacturers in China. As of December
31, 2013, we had  amounts due to Daqo Group and its subsidiaries of $88.5 million. In addition, Daqo
Group has granted us a permanent and royalty-free license to use the &ldquo;Daqo&rdquo; brand, which is a well-recognized brand
in the electrical industry in China. We have benefited from the strong brand recognition of &ldquo;Daqo&rdquo; in our business
development efforts, as evidenced by our ability to secure major customers based in China within a short period after we commenced
commercial production of polysilicon. Daqo Group has agreed in writing not to engage in the business of manufacturing, marketing
or distributing polysilicon or any other solar power products anywhere in the world or compete in any manner with our businesses
without our consent for an indefinite term. Daqo Group provides financial support to us to meet certain of our working capital
requirements and obligations as they come due. However, we cannot assure you that we will continue to receive the same level of
support, or any support at all, from Daqo Group in the future. If Daqo Group ceases to support us, our business, results of operations
and prospects may be materially and adversely affected. In addition, any negative publicity associated with Daqo Group will likely
have an adverse impact on our reputation, which could materially and adversely affect our business. In the event of any disagreements
with Daqo Group, we may have to resort to legal proceedings in China to enforce our rights, which could be costly, time consuming
and involve uncertain outcomes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We experienced a significant decrease
in our revenues in 2012 and incurred substantial net losses in 2012 and 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As a result of the slump in the global
demand for and sales price of polysilicon, we experienced a significant decrease in our revenues for our continuing
operations and suffered large net losses in 2012. Despite improvements in our revenue in 2013 compared to 2012, in 2013 we
still incurred a net loss of $221.1 million including $158.4 million of fixed-asset impairment loss, compared to $115.6
million including $42.8 million of fixed-asset impairment loss in 2012. While global demand for and the sales price of
polysilicon have been recovering since the first quarter of 2013 from their historical lows in 2012, we cannot predict when
we will be able to regain a positive net income. If we cannot obtain positive revenue growth and regain profitability in the
near future, our status as a going concern will be jeopardized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We had a significant working capital
deficit as of December 31, 2013. Daqo Group provides financial support to us to meet certain of our working capital requirements
and obligations as they come due. If we are not able to generate adequate operating cash flow or obtain adequate financial support
from Daqo Group or from other sources, we will face the risk of not being able to continue as a going concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The challenging solar photovoltaic market
situation in the past two years characterized by low prices through the whole value chain has caused our polysilicon and wafer
businesses to experience significant financial losses. Even though the industry started to recover slowly during 2013 and into
2014, we are unable to predict if the current upward trend will continue. As of December 31, 2013, we had a working capital deficit
(being our total consolidated current liabilities less our total consolidated current assets) of $208.0 million. In addition, we
have made significant capital expenditures on our expansion project at our Xinjiang polysilicon facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our continuation as a going concern is dependent
upon financial support from Daqo Group Co., Ltd., or Daqo Group, a related party of ours, and our ability to continue to obtain
other sources of financing. Daqo Group provides financial support to us to meet certain of our working capital requirements and
obligations as they come due. In addition, we had committed and available bank standby credit facilities of $56.2 million as of
December 31, 2013. If the industry reverses its current upward trend in prices we will face significant pressure on our working
capital and we will face the risk of not being able to continue as a going concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our consolidated financial statements do
not reflect any adjustments relating to recoverability and classification of recorded assets or the amounts and classification
of liabilities or any other adjustments that might be necessary should we be unable to continue as a going concern. Our inability
to continue as a going concern would materially and adversely affect our financial condition, results of operations and business
prospects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">The reduction in or elimination of government
subsidies and economic incentives for solar energy applications could cause demand for our products and our revenues to decline.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">When upfront system costs are factored
into cost per kilowatt hour, the current cost of solar power substantially exceeds the cost of traditional forms of energy in
many locations. As a result, national and local governmental authorities in many countries, including China, have provided
subsidies and economic incentives in the form of feed-in tariffs, rebates, tax credits and other incentives to distributors,
system integrators and manufacturers of photovoltaic products to promote the use of solar energy and to reduce dependency on
other forms of energy. We believe that the near-term growth of the market for solar energy applications depends in large part
on the availability and size of government subsidies and economic incentives. The reduction or elimination of government
subsidies and economic incentives may hinder the growth of this market or result in increased price competition for solar
energy products, which could cause our revenues to decline. These government subsidies and economic incentives could be
reduced or eliminated altogether. For example, in 2010, Spain announced its plan to cut the subsidized electricity prices
paid to new photovoltaic solar power plants by up to 45%, which significantly reduced installations of new solar energy
projects in the country. In 2010, Germany introduced an approximately 24% to 26% solar feed-in tariffs reduction for rooftop
systems and 20% to 25% reduction for ground-based systems. In early 2012, Germany further reduced its feed-in tariffs by 15%
to up to 24.43 Euro cents per kilowatt hour for rooftop systems and up to 18.76 Euro cents per kilowatt hour for ground-based
systems. On July 5, 2012, Italian officials published a ministerial decree which revised the system of incentives for the
production of electricity from PV plants. Pursuant to the ministerial decree, the incentives for new PV plants will
cease once the relevant total expenditure reaches EUR6.7 billion. In addition, new feed-in tariffs for existing plants will
apply beginning in 2013, and the overall public expenditure for renewable energy should not exceed EUR5.8 billion per year.
In 2013, the German government announced plans to reduce the expansion of solar power after Germany added 7,500 megawatts and
7,600 megawatts of capacity in 2011 and 2012, respectively, to bring its total to 32,600 MW, which is nearly as much as the
rest of the world combined. The German government wants to see the FIT cut by up to 30 percent in a one-off move, after a
series of annual cuts of about 15 percent in recent years. Such actions may result in a significant fall in the demand for
photovoltaic products. In addition, government financial support of photovoltaic products has been, and may continue to be,
challenged on constitutional grounds and found unlawful in certain countries. The escalation of the European sovereign debt
crisis since 2011 and the slowdown of the Chinese economy in 2012 and 2013 may continue to exert downward pressure on the
amount of government subsidiaries for solar energy applications in these two regions. In 2013, although global solar PV
installations increased by over 16% compared to 2012, the European markets shrank significantly due to subsidy cuts in major
markets like Germany, Italy and Spain. Reductions in, or elimination of, government subsidies and economic incentives for
solar energy applications before the photovoltaic industry reaches the economies of scale necessary for solar power to
become cost-effective in a non-subsidized market place could result in decreased demand for solar generation products and, as
a result, for polysilicon, which could cause our revenues to decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Our limited operating history may not
serve as an adequate basis to judge our future prospects and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have a limited operating history. We
commenced polysilicon manufacturing in 2008 and wafer manufacturing in 2011. Several of our senior management and key employees
have worked together at our company for only a relatively short period of time, and a number of our senior officers were promoted
to their posts in October 2012. Our future success will depend on our ability to expand our manufacturing capacity significantly
beyond its current level and further expand our customer base. To address these risks, we must, among other things, continue to
respond to competition and volatile market developments, attract, retain and motivate qualified personnel, implement and successfully
execute expansion plans and improve our technologies. We cannot assure you that we will be successful in addressing such risks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Although we were profitable in 2011, we
experienced significant decreases in revenue and incurred substantial net losses in 2012 and 2013. Our limited operating history
makes the prediction of future results of operations difficult, and therefore, it is unclear if we could regain positive revenue
growth or become profitable again in the future. Our business model, technology and ability to achieve satisfactory manufacturing
yields for polysilicon at higher volumes are unproven. Compared to companies with a long and well-established operating history
and companies operating in less volatile sectors, our results of operations are more susceptible to the impact of adverse operating
environment and supply and demand risks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Our revenues and results of operations
have fluctuated and are likely to fluctuate in the future.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Fluctuations of our revenues and results
of operations may occur on a quarterly and on an annual basis and may be due to a number of factors, many of which are beyond our
control. These factors include, among others, fluctuation in the global average selling prices of photovoltaic products, fluctuation
in the volume of our products shipped, changes in end-user demand for the photovoltaic products manufactured and sold by us or
our customers, the gain or loss of significant customers, the availability of governmental subsidies or financial support and changes
in our electricity, natural gas, raw material or labor costs. For example, although our net loss improved in 2013 relative to 2012,
it may worsen again if one or more of these factors become unfavorable to our business. Furthermore, wafers traditionally have
had lower profit margins than polysilicon, and we may need to price aggressively to gain market share or remain competitive in
this business, which may further reduce our net margins and cause our financial results to fluctuate from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Therefore, you should consider our future
prospects in light of the risks and uncertainties experienced by early stage companies in a rapidly evolving and increasingly competitive
market in China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We need a significant amount of cash
to fund our future capital expenditure requirements and working capital needs; if we cannot obtain additional sources of liquidity
when needed, our growth prospects and future profitability may be materially and adversely affected.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We need a significant amount of cash to
fund our operations. In particular, we will need substantial additional funding to finance our expansion project at our Xinjiang
polysilicon facilities, which includes relocating existing equipment from Chongqing, to meet our working capital requirements,
and to repay any short-term or long-term bank borrowings when due. We will also require cash resources to fund our research and
development activities in order to remain competitive on cost and technology. In addition, we will need to contribute registered
capital to our Chongqing and Xinjiang facilities in the amount of $26.4 million and $61.6 million, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the past, we relied in part on long-term
bank borrowings and advance payments from customers to finance our working capital requirements. However, we expect that we may
not be able to obtain a substantial amount of, or any, advance payments from customers in the future as the photovoltaic markets
remains competitive. Payment collection in the solar photovoltaic industry remains challenging. Any delay or failure in collecting
amounts owed from customers will adversely affect our company&rsquo;s cash flow situation. In addition, future acquisitions, expansions,
market changes or other developments may cause us to require additional financing. We expect to incur additional debt in the future.
Our ability to obtain external financing in the future is subject to a number of uncertainties, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our future financial condition, results of operations and cash flows;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>general market conditions for financing activities by companies in our industry;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>economic, political and other conditions in China and elsewhere; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>development and duration of the current global economic slowdown.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If we are unable to obtain funding in a
timely manner or on commercially acceptable terms, or at all, our growth prospects and ability to return to profitability may be
materially and adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We may not be successful in our efforts
to continue to manufacture polysilicon in a cost-effective manner.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The technology used to manufacture polysilicon
is complex, requires costly equipment and is continuously being modified in an effort to improve yields and product performance.
We may face significant challenges relating to polysilicon production in the future. Microscopic impurities such as dust and other
contaminants, difficulties in the manufacturing process, disruptions in the supply of utilities or defects in the key materials
or tools used to manufacture polysilicon could interrupt manufacturing, reduce yields or cause a portion of the polysilicon to
be rejected by our customers, which would materially and adversely affect our profitability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our effective capacity and ability to produce
high volumes of polysilicon depend on the cycle time for each batch of polysilicon. We may encounter problems in our manufacturing
process or facilities as a result of, among other things, production failures, construction delays, human error, equipment malfunction
or process contamination, all of which could seriously harm our operations. We are dependent on the availability of inexpensive
electricity to keep our production costs down. We may experience production delays if any modifications we make in the manufacturing
process to shorten production cycles are unsuccessful. Moreover, failure to achieve acceptable manufacturing levels may make our
polysilicon costs uncompetitive, which could materially and adversely affect our business, financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Further development in alternative polysilicon
production technologies or other changes in the photovoltaic industry could render our production process too costly or obsolete,
which could reduce our market share and cause our sales and profits to decline.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Although the vast majority of the polysilicon
produced in the world utilizes the chemical vapor deposition process, or the &ldquo;modified Siemens process,&rdquo; several alternative
production processes have been developed that may have significantly lower production costs. Compared with other polysilicon production
processes, a disadvantage of the modified Siemens process is the large amount of electricity required. For example, MEMC and REC
currently operate or are constructing facilities that use the &ldquo;fluidized bed reactor&rdquo; method for producing polysilicon.
Tokuyama has developed a polysilicon technology called the &ldquo;vapor-to-liquid deposition&rdquo; process. Other polysilicon
manufacturers are establishing facilities using upgraded metallurgical grade silicon process to produce solar-grade polysilicon.
Moreover, some polysilicon manufacturers who are using &ldquo;modified Siemens process&rdquo; have adopted newer technologies such
as Hydrochlorination, which could enable them to produce polysilicon in a more cost effective way compared to the traditional &ldquo;modified
Siemens process.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Further developments in competing polysilicon
production technologies may result in lower manufacturing costs or higher product performance than those achieved from the modified
Siemens process, including the one we employ. We will need to invest significant financial resources in research and development
to expand our market position, keep pace with technological advances in polysilicon production and effectively compete in the future.
Failure to further refine our technology could make our production process too costly or obsolete, which could reduce our margins
and market share, cause our revenues to decline and materially and adversely affect our results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Technological changes in the solar power
industry could render our products uncompetitive or obsolete, which could reduce our market share and cause our sales and profits
to decline.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The solar power industry is characterized
by evolving technologies and standards. These technological evolutions and developments place increasing demands on the improvement
of our products, such as polysilicon and wafers. Other companies may develop production technologies that enable them to produce
silicon wafers of higher quality at a lower cost than our products. Technologies developed or adopted by others may prove more
advantageous than ours for commercialization of solar power products and may render our products obsolete. As a result, we may
need to invest significant resources in research and development to maintain our market position, keep pace with technological
advances in the solar power industry, and effectively compete in the future. Our failure to further refine and enhance our products
and processes or to keep pace with evolving technologies and industry standards could cause our products to become uncompetitive
or obsolete, which could materially and adversely reduce our market share and affect our results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Alternative technologies in cell manufacturing
may reduce the demand for polysilicon.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The vast majority of silicon-based photovoltaic
cell manufacturers use chunk or granular polysilicon. However, alternative technologies have been commercialized. One such technology,
thin-film cell production, uses little to no silicon in the production of solar cells. Thin-film solar cells are currently less
costly to produce than silicon-based solar cells. Significant expansion of thin-film solar cell production has been announced which
may put pressure on the entire value chain of silicon-based solar cell production. This expansion may in turn restrict the market
for silicon-based solar cells, which would reduce the demand for our polysilicon. If the demand for polysilicon is adversely affected
by increased demand for, and improvements to, alternative technologies, our revenues and results of operations could be materially
and adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Our future success depends substantially
on our ability to significantly expand our polysilicon production capacity and output, and to relocate equipment to our Xinjiang
facilities, which exposes us to a number of risks and uncertainties.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our future success depends on our ability
to significantly increase both polysilicon production capacity and output, and to relocate equipment to our Xinjiang facilities.
If we fail to do so, we may not be able to benefit from economies of scale to reduce our costs per kilogram of polysilicon, to
maintain our competitive position or to improve our profitability. Further, our expansion plans are dependent on the successful
installation of the equipment we are relocating to our Xinjiang facilities. Our ability to establish additional production capacity
and increase output is subject to significant risks and uncertainties, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the need to raise significant additional funds to purchase additional production equipment or to build additional manufacturing
facilities, which we may not be able to obtain on commercially viable terms or at all;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>cost overruns and delays as a result of a number of factors, many of which are beyond our control, such as increases in the
price of electricity or problems with equipment delivery;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>delays or denial of required approvals by relevant government authorities;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>failure to obtain production inputs in sufficient quantities or at acceptable cost;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>significant diversion of management&rsquo;s attention and other resources; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>failure to execute our expansion plan effectively.</TD></TR></TABLE>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Our future commercial production and
expansion project in Xinjiang, China may not be successful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We finished construction of our
Phase 2a polysilicon facilities in Shihezi, Xinjiang Uyghur Autonomous Region in September 2012 and successfully reached
our targets in terms of capacity and cost structure by the end of the first quarter of 2013. We are conducting an expansion
plan to increase our polysilicon annual capacity from 6,150&nbsp;MT to 12,150&nbsp;MT. We also plan to upgrade our
off-gas treatment process from traditional Hydrogenation technology to Hydrochlorination technology. Simultaneous with our
2014 annual maintenance, we will prepare our Xinjiang facilities for expansion. Although the Xinjiang location provides many
strategic advantages, including lower electricity costs, we face a number of uncertainties in relation with our future
commercial production and expansion project in Xinjiang.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There are many risks associated with our
future production in Xinjiang, any of which could cause significant disruption to production, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>failure to successfully adopt and implement Hydrochlorination technology, given our lack of experience with the technology
or the provider;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>being unable to complete our expansion plan as scheduled;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>failure to successfully install equipment relocated from the Phase 1 polysilicon facilities;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>being unable to fully ramp-up the newly added capacity or achieve our targets for cost and quality;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>extremely cold temperatures;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>lack of workers in Xinjiang experienced with polysilicon manufacturing;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>difficulties in timely transporting products to our customers, most of whom are located in other areas of China that are a
significant distance from Xinjiang; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>political or social unrest.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">One or more of these factors could harm
our Xinjiang operations and consequently, could adversely affect our overall operating results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We operate in an increasingly competitive
market, and we may not be able to compete successfully with competitors who have greater resources than us.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The photovoltaic market is expected to become
increasingly competitive. Our competitors include international polysilicon and wafer manufacturers, such as Hemlock, Wacker, OCI,
REC, MEMC, Green Energy Technology and Sino-American Silicon and Chinese domestic polysilicon and wafer manufacturers, such as
GCL-Poly, TBEA, China Silicon Corporation, Sichuan Xinguang Silicon Science and Technology, LDK Solar, ReneSola, JinkoSolar and
Comtec Solar Systems. In addition, some solar cell and module manufacturers, including some of our existing and potential customers,
have established or have announced the intention of establishing polysilicon production or affiliate relationships with manufacturers
of polysilicon. We compete with these in-house capabilities, which could limit our ability to expand our sales or even reduce our
sales to our existing customers. Many of our competitors have substantially greater financial, technical, manufacturing and other
resources than we do. Our competitors&rsquo; greater size and longer operating history provide them with a competitive advantage
with respect to manufacturing costs because of their economies of scale and their ability to purchase raw materials at lower prices.
Our competitors may have stronger relationships or may enter into exclusive relationships with some of our key customers. As a
result, they may be able to respond more quickly to changing customer demands or to devote greater resources to the development,
promotion and sales of polysilicon than we can. Failure to adapt to changing market conditions and to compete successfully with
existing or new competitors may materially and adversely affect our financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We depend on a limited number of customers
and sales contracts for a significant portion of our revenues, and the loss of any customer or cancellation of any contract may
cause significant fluctuations or declines in our revenues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2011, 2012 and 2013, our top three customers
in aggregate accounted for approximately 38.7%, 40.9% and 38.5% of our total revenues, respectively. We anticipate that our dependence
on a limited number of customers will continue for the foreseeable future. Consequently, any one of the following events may cause
material fluctuations or declines in our revenues:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>reduction, delay or cancellation of orders from one or more of our significant customers;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>loss of one or more of our significant customers and failure to identify additional or replacement customers; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>failure of any of our significant customers to make timely payment for our products.</TD></TR></TABLE>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">If we are unable to manage our growth
effectively, our business and financial results may be adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We experienced a period of growth and expansion,
despite significant setbacks in revenue in 2012 and 2013. We generated revenue of $232.2 million, $86.9 million and $109.0 million
in 2011, 2012 and 2013, respectively. To accommodate our growth, we anticipate that we will need to implement a variety of new
and upgraded operational and financial systems, procedures and controls, including the improvement of our accounting and other
internal management systems, all of which require substantial management efforts. We also will need to continue to expand, train,
manage and motivate our workforce and manage our customer relationships. All of these endeavors will require substantial management
efforts and skill and require significant additional expenditures. We cannot assure you that we will be able to manage our growth
effectively, and any failure to do so may have a material adverse effect on our business and financial results. Moreover, even
if we do expand our polysilicon manufacturing capacity and our wafer business as planned, we may be unable to generate sufficient
customer demand for our photovoltaic products to support our increased production levels or successfully integrate our polysilicon
and wafer manufacturing businesses to achieve operational efficiency, which could adversely affect our business and results of
operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Polysilicon production is energy-intensive,
and if our energy costs rise or if our electricity and other utility supplies are disrupted, our results of operations will be
materially and adversely affected.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The polysilicon production process, particularly
the modified Siemens process that we use, is highly dependent on a constant supply of electricity and other utilities, such as
steam, natural gas and water, to maintain the optimal conditions for polysilicon production. If electricity or other utility supplies
are not maintained at the desired level, we may experience significant delays in the production of polysilicon. In the past, there
were shortages in electricity supply in various regions across China, especially during peak seasons, such as in the summer. In
addition, the uncommonly cold weather in China in the winter of 2010 resulted in a surge in natural gas demand, which in turn caused
severe gas shortages in many regions, including Chongqing, where one of our polysilicon manufacturing sites is located. The local
governmental authorities in the worst-hit areas took measures to reduce or restrict the amount of natural gas supplied to non-residential
users. We primarily use natural gas for our in-house steam production and steam is critical for our manufacturing process. Although
the natural gas shortage did not directly affect our operations, if shortages becomes more severe in the future, our natural gas
supply may be reduced or suspended, which would significantly disrupt our manufacturing process. In addition to shortages, we are
subject to potential risks of interruptions in energy supply due to power outages, equipment failure, weather conditions or other
causes which could force us to cease production for a prolonged period of time. In the event that electricity or other utility
supplies to our manufacturing facilities are disrupted, our business, results of operations and financial condition could be materially
and adversely affected. Even if we have access to sufficient sources of electricity and other utilities, any significant increase
in the costs of utilities could adversely affect our profitability, as we consume substantial amounts of electricity and other
utilities in our manufacturing process. If electricity and other utility costs were to rise, our results of operations could be
materially and adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Our current indebtedness could adversely
affect our business, financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of December 31, 2013, we had outstanding
borrowings of $253.7 million with a weighted average floating interest rate of 6.87%, and we expect to incur additional debt in
the future. We borrowed the majority of these bank loans from Bank of China and China Construction Bank with guarantees from Daqo
Group, a related party of ours. We cannot assure you that we will be able to renew these borrowings when they become due or to
obtain other loans or credits from other banks or other lenders on terms satisfactory to us or at all to satisfy the substantial
capital expenditure requirements associated with our capacity expansion, whether on our own or with the continuing support from
Daqo Group. In addition, the indebtedness could have an adverse effect on our future operations, including, among other things:
(1)&nbsp;reducing the availability of our cash flow to fund our working capital, capital expenditures or other general corporate
purposes as a result of interest or principal payments; (2)&nbsp;subjecting us to the risk of interest rate increases on our indebtedness
which bears floating interest rates; and (3)&nbsp;placing us at a competitive disadvantage compared to our competitors that have
less debt or are otherwise less leveraged. Any of these factors could have a material and adverse effect on our business, financial
condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We face risks and uncertainties expanding
our business through alliances, joint ventures or acquisitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may in the future, if presented with
appropriate opportunities, acquire or invest in technologies, businesses or assets that are strategically important to our business
or form alliances with key players in the photovoltaic industry to further expand our business. Such acquisitions and investments
could expose us to potential risks, including risks associated with the assimilation of new operations, technologies and personnel,
unforeseen or hidden liabilities, the inability to generate sufficient revenues to offset the costs and expenses of acquisitions,
and potential loss of, or harm to, our relationships with employees, customers and suppliers as a result of integration of new
businesses. Investments in new businesses may also divert our cash flow from servicing our debts and making necessary capital expenditures.
In addition, we may incur impairment losses on our acquisitions and investments in equity securities. The diversion of our management&rsquo;s
attention and any difficulties encountered with respect to the acquisitions, investments or alliances or in the process of integration
could have an adverse effect on our ability to manage our business. For example, in 2011, we formed alliances with JNE Solar Inc.,
a party unrelated to us prior to this transaction, in Hamilton, Ontario, through our wholly owned subsidiary, Daqo New Energy Holdings
(Canada) Ltd., to build and operate a solar module production facility in Hamilton, Ontario, Canada. Due to negative developments
in the solar photovoltaic market, we discontinued this project and terminated the joint venture in April 2012 without incurring
any loss to us. Furthermore, our experience in the polysilicon manufacturing industry may not be as relevant or applicable in downstream
markets. We may also face intense competition from companies with greater experience or established presence in the targeted downstream
markets or competition from our industry peers with similar expansion plans. Any failure to integrate any acquired businesses or
joint ventures into our operations successfully and any material liabilities or potential liabilities of any acquired businesses
or joint ventures that are not identified by us during our due diligence process for such acquisitions or investments could materially
and adversely affect our business and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">If we are unable to operate effectively
or operational disruptions occur, our business, results of operations and financial condition could be adversely affected.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Production of polysilicon requires the use
of volatile materials and chemical reactions sensitive to temperature and pressure and requires the use of external controls to
maintain safety. For example, in the production of polysilicon, we use trichlorosilane, or TCS, which is a highly combustible substance
if brought into contact with moisture in the air and is therefore potentially destructive and extremely dangerous if mishandled
or used in uncontrolled circumstances. The occurrence of a catastrophic event involving TCS as a result of a natural disaster or
human error at one of our polysilicon production facilities could threaten, disrupt or destroy a significant portion or all of
our polysilicon production capacity at such facility for a significant period of time. Additionally, the smooth operation of our
polysilicon production facilities depends significantly on our ability to maintain temperatures and pressure at appropriate levels,
the supply of steam at a consistent pressure level, the availability of adequate electricity and our ability to control the application
of such electricity. Accordingly, mistakes in operating our equipment or an interruption in the supply of electricity or steam
at our production facilities could result in the production of substandard polysilicon or substantial shortfalls in production
and could reduce our production capacity for a significant period of time. In addition, we voluntarily shut down our manufacturing
facilities from time to time on an as-needed basis for maintenance and quality check purposes. For example, we temporarily shut
down the Phase 1 facilities in April 2010 for periodic maintenance, in December 2010 for periodic maintenance and capacity enhancement,
and in December 2011 for periodic maintenance. In September 2012, we halted production at the Phase 1 polysilicon facilities for
maintenance and technology improvement projects, which lasted until we decided to relocate the equipment at this facility to Xinjiang
in the second quarter of 2013 . In April 2013, we temporarily shut down our Phase 2 facilities in Xinjiang for periodic maintenance
and technology improvements. These abovementioned shutdowns have reduced and may further reduce the volume and increase the cost
of polysilicon we produce. In addition, we may need to use hazardous equipment for our wafer manufacturing process. Such equipment
requires skill and experience for safe operation. We could experience events such as equipment failures, explosions or fires due
to employee errors, equipment malfunctions, accidents, and interruptions in electricity or water cooling supplies, natural disasters
or other causes. In addition, such events could cause damage to properties, personal injuries or even deaths. As a result, we may
in the future experience production curtailments or shutdowns or periods of reduced production. The occurrence of any such events
or disruptions could result in loss of revenues and could also damage our reputation, any of which could have a material adverse
effect on our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Our operations are subject to natural
disasters, adverse weather conditions, operating hazards, environmental incidents and labor disputes.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may experience earthquakes, floods, mudslides,
snowstorms, typhoon, power outages, labor disputes or similar events beyond our control that would affect our operations. Our manufacturing
processes involve the use of hazardous equipment, including, but not limited to, furnaces, squaring machines and wire saws. We
also use, store and generate volatile and otherwise dangerous chemicals and waste during our manufacturing processes, which are
potentially destructive and dangerous if not properly handled or in the event of uncontrollable or catastrophic circumstances,
including operating hazards, fires and explosions, natural disasters, adverse weather conditions and major equipment failures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, our polysilicon and wafer production
and storage facilities are located in either Chongqing or Xinjiang, China. The occurrence of any natural disaster, unanticipated
catastrophic event or unexpected accident in this location could result in production curtailments, shutdowns or periods of reduced
production, which could significantly disrupt our business operations, cause us to incur additional costs and affect our ability
to deliver our products to our customers as scheduled, which may adversely affect our business, financial condition and results
of operations. Moreover, such events could result in severe damage to property, personal injuries, fatalities, regulatory enforcement
proceedings or in our being named as a defendant in lawsuits asserting claims for large amounts of damages, which in turn could
lead to significant liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Occurrences of natural disasters, as well
as accidents and incidents of adverse weather in or around either Chongqing or Xinjiang, China in the future may result in significant
property damage, electricity shortages, disruption of our operations, work stoppages, civil unrest, personal injuries and, in severe
cases, fatalities. Such incidents may result in damage to our reputation or cause us to lose all or a portion of our production
capacity, and future revenue anticipated to be derived from the relevant facilities, any of which could have a material adverse
effect on our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Existing regulations and changes to these
regulations may present technical, regulatory, economic and trade barriers to the purchase and use of photovoltaic products, which
may significantly reduce demand for our products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Photovoltaic products are subject to national
and local regulations relating to building codes, safety, environmental protection, utility interconnection and metering and other
aspects of the electric utility industry. In a number of countries, including China, these regulations are being modified and may
continue to be modified. The purchases of, or further investment in the research and development of, alternative energy sources,
including photovoltaic technology, could be deterred by unfavorable regulations, which could result in a significant reduction
in the potential demand for our products. For example, without a regulatory mandated exception for solar power systems, electric
utility companies are often charged interconnection or standby fees for putting distributed power generation on the electric utility
grid. These fees could increase the cost to end users of using photovoltaic products and make them less desirable. In addition,
trade authorities in foreign countries may apply trade sanctions against photovoltaic product imports from China, if the foreign
trade authorities determine that the export sales from China are in violation of fair trade practices. Such trade sanctions can
result in significant additional duties, which will adversely affect our photovoltaic product demand, thereby harming our business,
prospects, results of operations and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We obtain certain production equipment
from a limited number of suppliers, and if such equipment is not delivered on time, is damaged in shipment or is otherwise unavailable,
our ability to deliver polysilicon on time will suffer, which in turn could result in cancellation of orders and loss of revenues.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our operations and expansion plans depend
on our ability to obtain a sufficient amount of equipment that meets our specifications on a timely basis. Some of our equipment
used in polysilicon and wafer production is not readily available from alternative vendors and would be difficult to repair or
replace if it were to become damaged or cease working. If any of these suppliers were to experience financial difficulties or go
out of business, or if there were any damage to or a breakdown of our production equipment, our business would incur losses. In
addition, a supplier&rsquo;s failure to supply our ordered equipment in a timely manner, with adequate quality and on terms acceptable
to us, could delay the capacity expansion of our manufacturing facilities and otherwise disrupt our production schedule or increase
our costs of production. We have experienced significant delays in the delivery of our key equipment in the past. Failure to obtain
equipment meeting our specifications could have a material adverse effect on our business, financial condition and results of operations.
Furthermore, demand for polysilicon and wafer production equipment may result in significant increases in prices of such equipment
or shortages in related components for our intended expansion. Any unexpected price increases could materially and adversely affect
our financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We have sourced and will continue to
source some of our production equipment from Chinese manufacturers, and we cannot assure you that the China-sourced equipment will
perform at the same level as our imported equipment or will meet our quality requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have purchased key equipment from Chinese
and international suppliers. Compared to major international suppliers, our China-based suppliers generally have shorter operating
histories and less experience in providing equipment for the polysilicon industry. We cannot assure you that the locally made equipment
will perform at similar levels of quality and reliability as our imported equipment. In the event the China-sourced equipment does
not perform as well as the imported equipment or does not perform at all, we may encounter disruption in our manufacture or deterioration
of product quality, which in turn could materially and adversely affect our business, financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Product defects could result in increased
costs, decreased sales, and damage to our customer relationships and our reputation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our photovoltaic products may contain defects
that are not detected until after it is shipped or processed by our customers. In the event our products are returned to us due
to product defects, we would be required to replace the defective products promptly. If we deliver products with defects, or if
there is a perception that our products are of substandard quality, we may incur substantially increased costs associated with
termination of contracts and replacement of shipped products, and our credibility, market reputation and relationship with customers
will be harmed and sales of our products may be materially and adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Substantially all of our production,
storage, administrative, and research and development facilities are located in either Chongqing or Xinjiang, China. Any damage
or disruption at these facilities would have a material adverse effect on our financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Substantially all of our production, storage,
administrative, and research and development facilities are currently located in either Chongqing or Xinjiang, China. Natural disasters,
such as fire, floods, typhoons, earthquakes, snow storms, or other unanticipated catastrophic events, including power interruption,
telecommunications failures, equipment failures, explosions, break-ins, terrorist acts or war, could significantly disrupt our
ability to manufacture our products and operate our business. If any of our production facilities or material equipment were to
experience any significant damage or downtime, we would not be able to meet our production targets and our business would incur
losses. Any damage or disruption at these facilities would have a material adverse effect on our business, financial condition
and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We rely on third party intellectual property
for certain key aspects of our operations, which subjects us to the payment of license fees and potential disruption or delays
in the production of our products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">While we continue to develop and pursue
patent protection for our own technologies, we expect to continue to rely on third party license arrangements for certain key aspects
of our operations. For instance, we license from third party hydrochlorination process technology for our polysilicon production.
See &ldquo;Item 4. Information on the Company&mdash;B. Business Overview&mdash;Intellectual Property&rdquo; for details of the
contractual arrangements. The fees associated with such licenses could adversely affect our financial condition and operating results.
If for any reason we are unable to license necessary technology on acceptable terms or at all, it may become necessary for us to
develop alternative technology internally, which could be costly and delay or disrupt our production and therefore have a material
adverse effect on our business and operating results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Failure to protect our intellectual property
rights may undermine our competitive position, and litigation to protect our intellectual property rights may be costly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We rely primarily on trade secrets and other
contractual restrictions to protect our intellectual property. Contractual arrangements, such as the confidentiality and non-competition
agreements and terms between us and our research and development personnel, afford only limited protection and the actions we may
take to protect our trade secrets and other intellectual property may not be adequate. In addition, we currently hold 21 patents
and have 10 pending patent applications in China covering various aspects of the polysilicon and wafer manufacturing processes.
However, we cannot assure you that our patent applications will be eventually issued with sufficiently broad coverage to protect
our technology and products. Failure to protect our intellectual property and proprietary rights may undermine our competitive
position. Third parties may infringe on or misappropriate our proprietary technologies or other intellectual property and proprietary
rights and use them to compete against us, which could have a material adverse effect on our business, financial condition or operating
results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Policing unauthorized use of proprietary
technology can be difficult and expensive. In particular, the laws and enforcement procedures of China and certain other countries
are uncertain or do not protect intellectual property rights to the same extent as the laws and enforcement procedures of the United
States do. See &ldquo;&mdash;Risks Relating to Doing Business in China&mdash;Uncertainties in the interpretation and enforcement
of Chinese laws and regulations could limit the legal protection available to you and us.&rdquo; We may need to resort to court
proceedings to enforce our intellectual property rights in the future. Litigation relating to our intellectual property might result
in substantial costs and diversion of resources and management attention away from our business. An adverse determination in any
such litigation will impair our intellectual property and proprietary rights and may harm our business, prospects and reputation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We may be exposed to infringement or
misappropriation claims by third parties, which, if determined adversely to us, could cause us to pay significant damage awards.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Although we are currently strengthening
our research and development capability, to date, substantially all of the intellectual property used in our production process
was developed by third parties. Our success will be jeopardized if we cannot use and develop our technology and know-how without
infringing the intellectual property rights of third parties. The validity and scope of claims relating to photovoltaic technology
patents involve complex scientific, legal and factual questions and analysis and, therefore, may be highly uncertain. We may be
subject to litigation involving claims of patent infringement or violation of other intellectual property rights of third parties.
The defense and prosecution of intellectual property suits, patent opposition proceedings, and related legal and administrative
proceedings can be both costly and time-consuming and may significantly divert the efforts and resources of our technical and management
personnel. An adverse determination in any such litigation or proceedings to which we may become a party could subject us to significant
liability to third parties, require us to seek licenses from third parties, to pay ongoing royalties, or to redesign our manufacturing
process or our products or subject us to injunctions prohibiting the manufacture and sale of our products or the use of our technologies.
Protracted litigation could also result in our customers or potential customers deferring or limiting their purchase or use of
our products until resolution of such litigation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Our business depends substantially on
the continuing efforts of our executive officers and key employees, and our business may be severely disrupted if we lose their
services.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our future success depends substantially
on the continued services of our executive officers and key employees, especially Mr.&nbsp;Guangfu Xu, our chairman, and Dr.&nbsp;Gongda
Yao, our chief executive officer. If one or more of our executive officers or key employees were unable or unwilling to continue
in their present positions, we might not be able to replace them easily, in a timely manner, or at all. Our business may be severely
disrupted, our financial conditions and results of operations may be materially and adversely affected and we may incur additional
expenses to recruit, train and retain personnel. If any of our executive officers or key employees join a competitor or form a
competing company, we may lose customers, suppliers, know-how and key professionals and staff members. Each of our executive officers
and key employees has entered into an employment agreement with us, which contains non-competition provisions. However, if any
dispute arises between our executive officers and us, these agreements may not be enforceable in China, where these executive officers
reside, in light of uncertainties with China&rsquo;s legal system. See &ldquo;&mdash; Risks Relating to Doing Business in China&mdash;Uncertainties
in the interpretation and enforcement of Chinese laws and regulations could limit the legal protection available to you and us.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Certain of our principal shareholders
have substantial influence over our company and their interests may not be aligned with the interests of our other shareholders.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of the date of this annual report, Messrs.
Guangfu Xu, Xiang Xu and Dafeng Shi, our directors that are affiliated with Daqo Group, beneficially own an aggregate of 35.6%
of our outstanding share capital. As a result of their high level of shareholding, these shareholders have substantial influence
over our business, including decisions regarding mergers, consolidations and the sale of all or substantially all of our assets,
election of directors and other significant corporate actions. These shareholders may take actions that are not in the best interest
of us or our other shareholders. This concentration of ownership may discourage, delay or prevent a change in control of our company,
which could deprive our other shareholders of an opportunity to receive a premium for their shares as part of a sale of our company
and might reduce the price of our ADSs. These actions may be taken even if they are opposed by our other shareholders. These shareholders&rsquo;
interests as beneficial owners of Daqo Group and Daqo New Material may not always be aligned with their interests as our shareholders.
Should any conflict of interest arise, these shareholders may take actions not in the best interest of us and our other shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">If we are unable to attract, train and
retain qualified personnel, our business may be materially and adversely affected.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our future success depends, to a significant
extent, on our ability to attract, train and retain qualified personnel, particularly technical personnel with expertise in the
photovoltaic industry. Since our industry is characterized by high demand and intense competition for talent, there can be no assurance
that we will be able to attract or retain qualified technical staff or other highly skilled employees that we will need to achieve
our strategic objectives. As we have a limited operating history and are in a stage of rapid growth, despite recent setbacks, our
ability to train and integrate new employees into our operations may not meet the growing demands of our business. If we are unable
to attract and retain qualified personnel, our business may be materially and adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Compliance with environmental regulations
can be expensive, and non-compliance with these regulations may result in adverse publicity and potentially significant monetary
damages and fines.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As our manufacturing processes generate
waste water and gas and other industrial wastes, we are required to comply with all applicable regulations regarding protection
of the environment. We are in compliance with present environmental protection requirements and have all the necessary environmental
permits to conduct our business in all material respects. However, if more stringent regulations are adopted in the future, the
cost of compliance with these new regulations could be substantial. If we fail to comply with present or future environmental regulations,
we may be required to pay substantial fines, suspend production or cease operations, which in turn would have a material adverse
effect on our financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">The discontinuation of any of the preferential
tax treatments or the financial incentives and grants currently available to us in China could adversely affect our overall results
of operations.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Various Chinese governmental
authorities have provided tax incentives to our subsidiaries in China. These incentives include income tax exemption or
reduced enterprise income tax rates. For example, under the PRC Enterprise Income Tax Law, or the EIT Law, the statutory
enterprise income tax rate is 25%. However, our Chinese subsidiary Chongqing Daqo New Energy Co., Ltd., or Chongqing Daqo, as
a &ldquo;Chongqing Municipality High and New Technology Enterprise,&rdquo; is entitled to a preferential enterprise income
tax rate of 15%. The status is valid until December 2014 and can be renewed for additional three-year terms upon Chongqing
Daqo&rsquo;s application and the government&rsquo;s approval. If there are significant changes in the business operations,
manufacturing technologies or other criteria that cause the enterprise to no longer meet the criteria as a &ldquo;high and
new technology enterprise,&rdquo; such status will be terminated from the year of such change. We cannot assure you that
Chongqing Daqo will continue to qualify as a &ldquo;high and new technology enterprise&rdquo; in future periods. In addition,
Chongqing Daqo has received various financial incentives and grants from the local government since its inception. For
example, it received government grants in the amount of $11.5 million, $7.7 million and $4.8 million in 2011, 2012 and 2013,
respectively. Any increase in the enterprise income tax rate applicable to our Chinese subsidiaries or discontinuation or
reduction of any of the preferential tax treatments or financial incentives currently enjoyed by our subsidiaries in China
could adversely affect our business, operating results and financial condition. Xinjiang Daqo New Energy Co., Ltd.,
or Xinjiang Daqo, is currently in the process of applying for &ldquo;Xinjiang Municipality High and New Technology
Enterprise&rdquo; status.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">The dividends we receive from our Chinese
subsidiaries and our global income may be subject to Chinese tax under the EIT Law, which would have a material adverse effect
on our results of operations; our foreign ADS holders may be subject to a Chinese withholding tax upon the dividends payable by
us and Chinese tax on gains realized upon the sale or other disposition of our ADSs if we are classified as a Chinese &ldquo;resident
enterprise.&rdquo;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"></P>

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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the Chinese enterprise income tax
laws and regulations, dividends, interests, rent, royalties and gains on transfers of property payable by a foreign-invested enterprise
in China to its foreign investor who is a non-resident enterprise will be subject to a 10% withholding tax, unless such non-resident
enterprise&rsquo;s jurisdiction of incorporation has a tax treaty with China that provides for a reduced rate of withholding tax
and such non-resident enterprise is the beneficial owner of the dividends, interests, rent, royalties and gain on transfers of
property. The Cayman Islands, where Daqo Cayman is incorporated, does not have such a tax treaty with China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the EIT Law, an enterprise established
outside China with its &ldquo;de facto management body&rdquo; within China is considered a &ldquo;resident enterprise&rdquo; in
China and will be subject to the Chinese enterprise income tax at the rate of 25% on its worldwide income. In April 2009, the Chinese
State Administration of Taxation issued a new circular to clarify criteria for determining the &ldquo;resident enterprise&rdquo;
status of foreign companies which are controlled by enterprises incorporated in China. Pursuant to the circular, to determine whether
a company formed outside of mainland China and controlled by an enterprise incorporated in China should be treated as a Chinese
resident enterprise, the tax authority will review factors such as the routine operation of the organizational body that effectively
manages the enterprise&rsquo;s production and business operations, locations of personnel holding decision-making power, location
of finance and accounting functions and properties of the enterprise, and whether more than half of the directors or senior management
personnel reside in China. Substantially all of our management members are based in China. However, it remains unclear how PRC
tax authorities will treat an overseas company such as ours, which is controlled by PRC natural persons rather than PRC enterprises.
If the Chinese tax authorities subsequently determine that Daqo Cayman should be classified as a resident enterprise, then our
worldwide income will be subject to Chinese income tax, which may have a material adverse effect on our financial condition and
results of operations. Notwithstanding the foregoing provision, the EIT Law also provides that, if a resident enterprise directly
invests in another resident enterprise, the dividends received by the investing resident enterprise from the invested enterprise
are exempted from income tax, subject to certain conditions. Therefore, if Daqo Cayman is classified as resident enterprise under
the EIT Law, the dividends received from our Chinese subsidiaries may be exempted from withholding tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Moreover, foreign enterprise ADS holders
may be subject to a 10% withholding tax (20% in the case of foreign individual ADS holders) upon dividends payable by us and 10%
tax on gains realized upon the sale or other disposition of our ADSs (20% in the case of foreign individual ADS holders) if Daqo
Cayman is classified as resident enterprise under the EIT Law. Any such tax may reduce the returns on your investment in our ADSs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We have limited insurance coverage. In
particular, we do not have any product liability insurance or business interruption insurance.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As the insurance industry in China is still
in an early stage of development, the product liability insurance and business interruption insurance available in China offer
limited coverage compared to that offered in many other countries. We do not have any product liability insurance or business interruption
insurance. Any business disruption or natural disaster could result in substantial costs and a diversion of resources, which would
have a material adverse effect on our business and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As with other photovoltaic product manufacturers,
we are exposed to risks associated with product liability claims if the use of our photovoltaic products results in injury. Since
our polysilicon products are made into electricity generating devices, it is possible that users could be injured or killed by
devices that use our products as a result of product malfunctions, defects, improper installation or other causes. We only began
commercial shipment of our photovoltaic products in July 2008 and, because of our limited operating history, we cannot predict
whether product liability claims will be brought against us in the future or the effect of any resulting negative publicity on
our business. The successful assertion of product liability claims against us could result in potentially significant monetary
damages and require us to make significant payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We have granted, and may continue to
grant, stock options and other share-based compensation in the future, which may materially impact our future results of operations.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We adopted our 2009 share incentive plan,
or the 2009 Plan, in August 2009 that permits the grant of stock options, restricted shares and restricted share units to employees,
directors and consultants of our company. Under the 2009 Plan, we may issue awards to purchase up to 15,000,000 ordinary shares.
As of the date of this annual report, excluding expired or cancelled options, the Company has granted options to purchase a total
of 13,195,816 of our ordinary shares under this plan. In addition, we modified the exercise prices for certain outstanding options
in January 2012 and April 2013 in order to provide additional incentives to our employees and directors pursuant to an express
authorization under our share incentive plan, allowing our board of directors to approve a downward adjustment of the option exercise
prices without our shareholders&rsquo; approval. As a result of these option grants, option re-pricings and potential future grants
under the plan, we have incurred, and will incur in future periods, significant share-based compensation expenses. We account for
compensation costs for all stock options using a fair-value based method and recognize expenses in our consolidated statement of
income in accordance with the relevant rules in accordance with U.S. GAAP, which may have a material adverse effect on our net
income. Moreover, the additional expenses associated with share-based compensation may reduce the attractiveness of such incentive
plan to us. However, if we limit the scope of our share incentive plan, we may not be able to attract or retain key personnel who
expect to be compensated with incentive shares or options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Risks Relating to Doing Business in China</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Changes in China&rsquo;s economic, political
or social conditions or government policies could have a material adverse effect on our business and operations.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Substantially all of our assets are located
in and substantially all of our revenues are currently sourced from China. Accordingly, our business, financial condition, results
of operations and prospects may be influenced to a significant degree by political, economic and social conditions in China generally
and by continued economic growth in China as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Chinese economy differs from the economies
of most developed countries in many respects, including the level of government involvement, level of development, growth rate,
control of foreign exchange and allocation of resources. Although the Chinese government has implemented measures since the late
1970s emphasizing the utilization of market forces for economic reform, the reduction of state ownership of productive assets and
the establishment of improved corporate governance in business enterprises, a substantial portion of productive assets in China
is still owned by the Chinese government. In addition, the Chinese government continues to play a significant role in regulating
industry development by imposing industrial policies. The Chinese government also exercises significant control over the Chinese
economic growth through the allocation of resources, controlling payment of foreign currency-denominated obligations, setting monetary
policy and providing preferential treatment to particular industries or companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">While the Chinese economy has experienced
significant growth over the past decades, growth has been uneven, both geographically and among various sectors of the economy.
The Chinese government has implemented various measures to encourage economic growth and guide the allocation of resources. Some
of these measures benefit the overall Chinese economy, but may also have a negative effect on us. For example, our operating results
and financial condition may be adversely affected by government control over capital investments or changes in tax regulations
that are applicable to us, and by government policies or guidance aimed at curtailing the perceived over-capacity of certain industry
sectors, such as steel, concrete, polysilicon and wind power equipment. See &ldquo;Item 4. Information on the Company&mdash;B.
Business Overview&mdash;Regulation&mdash; Renewable Energy Law and Other Government Directives.&rdquo; The Chinese government has
implemented certain measures, including interest rate increases, to control the pace of economic growth. These measures may cause
decreased economic activity in China, which could in turn reduce the demand for our services and materially and adversely affect
our operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Uncertainties in the global economy and
the Chinese economy may adversely affect our business, results of operations and financial condition.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The global financial markets experienced
significant disruptions in 2008 and the United States, Europe and other economies went into recession. The recovery from the lows
of 2008 and 2009 was uneven and is facing new challenges, including the escalation of the European sovereign debt crisis since
2011 and the slowdown of the Chinese economy in 2012 and 2013. It is unclear whether the European sovereign debt crisis will be
contained and whether the Chinese economy will resume its high growth rate. There is considerable uncertainty over the long-term
effects of the expansionary monetary and fiscal policies that have been adopted by the central banks and financial authorities
of some of the world&rsquo;s leading economies, including China&rsquo;s. There have also been concerns over unrest in the Middle
East and Africa, which have resulted in volatility in oil and other markets, and over the possibility of a war involving Iran.
There have also been concerns about the economic effect of the earthquake, tsunami and nuclear crisis in Japan and increasing tensions
in the relationship between China and Japan. Economic conditions in China are sensitive to global economic conditions. Any prolonged
slowdown in the global or Chinese economy may have a negative impact on our business, results of operations and financial condition,
and continued turbulence in the international markets may adversely affect our ability to access the capital markets to meet liquidity
needs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Since we derive substantially all of our
revenues from customers in China, any prolonged slowdown in the Chinese economy may have a negative impact on our business, results
of operations and financial condition in a number of ways. For example, our customers may reduce or delay spending with us, while
we may have difficulty expanding our customer base fast enough, or at all, to offset the impact of decreased spending by our existing
customers. In addition, to the extent we offer credit to any customer and such customer experiences financial difficulties due
to the economic slowdown, we could have difficulty collecting payment from such customer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Uncertainties in the interpretation and
enforcement of Chinese laws and regulations could limit the legal protection available to you and us.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Chinese legal system is a civil law
system based on written statutes. Unlike common law systems, it is a system in which legal decisions have limited value as precedents.
In the late 1970s, the Chinese government began to promulgate a comprehensive system of laws and regulations governing economic
matters in general. The overall effect of legislation and rule-making over the past three decades has been to significantly increase
the protections afforded to various forms of foreign or private-sector investment in China. Our Chinese operating subsidiary, Chongqing
Daqo, is a foreign-invested enterprise and is subject to laws and regulations applicable to foreign-invested enterprises as well
as various Chinese laws and regulations generally applicable to companies in China. Our business is also subject to various industry
policy, safety and environmental laws and regulations that affect our operations and production facility expansion plans, including
those related to investment, project construction, building, zoning, fire prevention and work safety. These laws and regulations
are still evolving, and their interpretation and enforcement involve uncertainties. In addition, due to the inconsistent nature
of regulatory enforcements in China, local Chinese governmental authorities have significant discretion in interpreting and implementing
rules and regulations, and there is no assurance that the central government authorities will always agree with the interpretations
and implementations of the local governmental authorities. Currently, we possess all necessary local governmental approvals relating
to our operations and production capacity expansion plans. However, if a central government agency requires us to obtain its approval
and if we fail to obtain such approval in a timely manner, or at all, we may be subject to the imposition of fines against us,
or the suspension or cessation of our production capacity expansion plans. See &ldquo;Item 4. Information on the Company&mdash;B.
Business Overview&mdash; Regulation&mdash;Renewable Energy Law and Other Government Directives.&rdquo; It may be more difficult
to evaluate the outcome of any regulatory or legal proceedings and the level of legal protection we enjoy than in more developed
legal systems. These uncertainties may impede our ability to continue our operations or planned capacity expansions, which, as
a result, could materially and adversely affect our business and operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Chinese regulations relating to offshore
investment activities by Chinese residents may increase the administrative burden we face and may subject our Chinese resident
beneficial owners or employees to personal liabilities, limit our subsidiaries&rsquo; ability to increase its registered capital
or distribute profits to us, limit our ability to inject capital into our Chinese subsidiaries, or may otherwise expose us to liability
under Chinese law.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SAFE has promulgated regulations that require
Chinese residents and Chinese corporate entities to register with local branches of SAFE in connection with their direct or indirect
offshore investment activities. These regulations may apply to our shareholders who are Chinese residents and may apply to any
offshore acquisitions that we make in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In October 2005, SAFE issued a regulation
entitled &ldquo;Circular on Issues Concerning Foreign Exchange Regulation of Corporate Financing and Roundtrip Investments by Chinese
Residents through Offshore Special Purpose Companies,&rdquo; or SAFE Circular No.&nbsp;75. SAFE Circular No.&nbsp;75 requires Chinese
residents to register with the local SAFE branch before establishing or controlling any company outside of China for the purpose
of capital financing with assets or equities of Chinese companies, referred to in the notice as an &ldquo;offshore special purpose
company.&rdquo; In addition, any Chinese resident who is a direct or indirect shareholder of an offshore company is required to
update his registration with the relevant SAFE branches, with respect to that offshore company, any material change involving increase
or decrease of capital, transfer or swap of shares, merger, division, equity or debt investment or creation of any security interest.
Moreover, the Chinese subsidiaries of that offshore company are required to coordinate and supervise the filing of SAFE registrations
by the offshore company&rsquo;s shareholders who are Chinese residents in a timely manner. If a Chinese shareholder with a direct
or indirect stake in an offshore parent company fails to make the required SAFE registration, the Chinese subsidiaries of such
offshore parent company may be prohibited from making distributions of profit to the offshore parent and from paying the offshore
parent proceeds from any reduction in capital, share transfer or liquidation in respect of the Chinese subsidiaries, and the offshore
parent company may also be prohibited from injecting additional capital into its Chinese subsidiaries. Furthermore, failure to
comply with the various SAFE registration requirements described above may result in liability for the Chinese shareholders and
the Chinese subsidiaries under Chinese law for foreign exchange registration evasion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have, up to the present, completed SAFE
Circular No.&nbsp;75 registration for all current beneficial shareholders of our company who are Chinese residents. However, we
may not be fully informed of the identities of the beneficial owners of our company in the future and we cannot assure you that
all of our Chinese resident beneficial owners will comply with SAFE regulations. The failure of our beneficial owners who are Chinese
residents to make any required registrations may subject us to fines and legal sanctions, and prevent us from being able to make
distributions or pay dividends, as a result of which our business operations and our ability to distribute profits to you could
be materially and adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Participants of our share incentive plan
who are PRC individuals are required to register with SAFE, and the failure to so comply could subject us and such participants
to penalties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In February 2012, SAFE promulgated the Notice
on the Administration of Foreign Exchange Matters for Domestic Individuals Participating in the Stock Incentive Plans of Overseas
Listed Companies, or the Stock Option Notice. According to the Stock Option Notice, a PRC domestic qualified agent or the PRC subsidiary
of such overseas listed company must file an application with SAFE or its local counterpart on behalf of PRC resident individuals
who participate in stock incentive plans of overseas publicly-listed companies to obtain approval for an annual allowance with
respect to the purchase of foreign exchange in connection with the stock holding or share option exercises. Our company is an &ldquo;overseas
publicly-listed company,&rdquo; and therefore, we and participants of our share incentive plan who are PRC individuals are subject
to these regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have completed registration for options
granted as of December 31, 2013 and are in the process of submitting an application to register the options granted on January
28, 2014. If our application is unsuccessful or our option plan participants who are PRC individuals fail to work with us to complete
the registration, we or such persons may be subject to fines and legal sanctions. Any failure to comply with such regulations may
subject us and the relevant participants of our share incentive plan to fines and legal sanctions and prevent us from being able
to grant share incentives to our personnel, as a result of which our business operations may be adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Chinese regulation of direct investment
and loans by offshore holding companies to Chinese entities may delay or limit us from making additional capital contributions
or loans to our Chinese subsidiaries.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any capital contributions or loans that
we, as an offshore entity, make to our Chinese subsidiaries are subject to Chinese regulations. For example, for each of our Chinese
subsidiaries, the aggregate amount of our loans to the Chinese subsidiary cannot exceed the difference between the amount of its
total investment and its registered capital as approved by the foreign investment regulatory authorities under relevant Chinese
laws, and the loans must be registered with the local branch of SAFE. For each foreign invested enterprise, such as Chongqing Daqo,
when the Chinese foreign investment regulatory authorities approve the establishment of such foreign invested enterprise, the authorities
approve the amounts of such enterprise&rsquo;s registered capital, which represent the investors&rsquo; capital commitment in equity,
and the amounts of its total investment, which represent the sum of its registered capital plus the amounts of its permitted loans.
After the establishment of the foreign invested enterprise, the investors can seek regulatory approval to increase its registered
capital and the total investment amounts, and upon approval, there will be increases in both amounts. There is a specific statutory
guideline relating to the ratio of a foreign invested enterprise&rsquo;s registered capital amount over total investment amount,
and all foreign investment regulatory authorities in China must follow the ratio guideline when exercising their approval authority.
However, there is no uniform statutory guideline applicable to all regulatory authorities regarding whether to approve the establishment
of a new foreign invested enterprise or to approve any increase in the registered capital and total investment of an existing foreign
invested enterprise. In practice, authorities consider factors such as overall governmental policies relating to the specific industry
and demands in a particular industry and the approval usually takes one to three months depending on the locations of the foreign
invested enterprises. The approved total investment amounts of Chongqing Daqo and Xinjiang Daqo New Energy Co., Ltd., or Xinjiang
Daqo, are $286.0 million and $298.0 million, respectively. The registered capital of Chongqing Daqo is $96.0 million, of which
$69.6 million was contributed by Daqo Cayman as the sole investor. The registered capital of Xinjiang Daqo is $100.0 million, of
which $38.4 million was contributed by Daqo Cayman as the sole investor. As a result, the maximum permissible amounts that Chongqing
Daqo and Xinjiang Daqo may borrow from Daqo Cayman are $190.0 million and $198.0 million, respectively. We may not make loans to
Chongqing Daqo or Xinjiang Daqo in excess of the maximum amounts permissible unless we obtain government approval to increase their
total investment amounts. In addition, any increases of our capital contributions to our Chinese subsidiaries beyond the previously
authorized amount must be approved by the MOFCOM and the NDRC or their respective local counterparts. We cannot assure you that
we will be able to obtain these approvals on a timely basis, or at all. If we fail to obtain such approvals, our ability to make
equity contributions or provide loans to our Chinese subsidiaries or to fund their operations may be negatively affected, which
could adversely affect our Chinese subsidiaries&rsquo; liquidity and their ability to fund their working capital and expansion
projects and meet their obligations and commitments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We rely principally on dividends and
other distributions on equity paid by our wholly owned operating subsidiaries to fund any cash and financing requirements we may
have, and any limitation on the ability of our operating subsidiaries to pay dividends to us could have a material adverse effect
on our ability to borrow money or pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As a holding company, we rely principally
on dividends and other distributions on equity paid by our Chinese subsidiaries for our cash requirements, including funds necessary
to service any debt we may incur. If our Chinese subsidiaries incur debt on their own behalf in the future, the instruments governing
the debt may restrict their ability to pay dividends or make other distributions to us. Furthermore, relevant Chinese laws and
regulations permit payments of dividends by Chinese subsidiaries only out of their retained earnings, if any, determined in accordance
with Chinese accounting standards and regulations. Under Chinese laws and regulations, each of our Chinese subsidiaries is required
to set aside a portion of its net income each year to fund a statutory surplus reserve until such reserve reaches 50% of its registered
capital. This reserve is not distributable as dividends. As a result, our Chinese subsidiaries are restricted in their ability
to transfer a portion of their net assets to us in the form of dividends, loans or advances. Limitation on the ability of our Chinese
subsidiaries to pay dividends to us could materially and adversely limit our ability to borrow money outside of China or pay dividends
to holders of our ADSs. Also see &ldquo;&mdash;Risks Relating to Our Business&mdash;The dividends we receive from our Chinese subsidiaries
and our global income may be subject to Chinese tax under the EIT Law, which would have a material adverse effect on our results
of operations; our foreign ADS holders may be subject to a Chinese withholding tax upon the dividends payable by us and Chinese
tax on gains realized upon the sale or other disposition of our ADSs if we are classified as a Chinese &lsquo;resident enterprise.&rsquo;&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Fluctuations in exchange rates could
result in foreign currency exchange losses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The conversion of RMB into foreign currencies,
including U.S. dollars, is based on rates set by the People&rsquo;s Bank of China. The PRC government allowed the RMB to appreciate
by more than 20% against the U.S. dollar between July&nbsp;2005 and July&nbsp;2008. Between July&nbsp;2008 and June&nbsp;2010,
this appreciation halted and the exchange rate between the RMB and the U.S. dollar remained within a narrow band. Since June&nbsp;2010,
the PRC government has allowed the RMB to appreciate slowly against the U.S. dollar again, though there have been periods when
the U.S. dollar has appreciated against the Renminbi as well. In March 2014, the People&rsquo;s Bank of China widened the band
around which the value of the Renminbi is allowed to deviate from the daily reference rate, which may allow for greater volatility
in the U.S. dollar and Renminbi exchange rate. It is difficult to predict how market forces or PRC or U.S. government policy may
impact the exchange rate between the RMB and the U.S. dollar in the future. There remains significant international pressure on
the Chinese government to adopt a substantial liberalization of its currency policy, which could result in a further and more significant
appreciation in the value of the Renminbi against the U.S. dollar. Significant revaluation of the Renminbi may have a material
adverse effect on your investment. Conversely, if we decide to convert our Renminbi into U.S. dollars for the purpose of making
payments for dividends on our ordinary shares or ADSs or for other business purposes, appreciation of the U.S. dollar against the
Renminbi would have a negative effect on the U.S. dollar amount available to us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Failure to maintain effective internal
control over financial reporting could have a material and adverse effect on the trading price of our ADSs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are subject to the reporting obligations
under the U.S. securities laws.&nbsp;In connection with the audit of our internal controls over financial reporting as of and for
the year ended December 31, 2011, we and our independent registered public accounting firm identified three &ldquo;material weaknesses&rdquo;
including (i) our lack of accounting resources and expertise necessary to comply with U.S. GAAP and the Securities and Exchange
Commission, or SEC, financial reporting and disclosure requirements, (ii) our lack of sufficient resources to perform thorough
reviews of consolidated financial statements and related footnote disclosures during the period-end financial reporting and disclosure
process, and (iii) our lack of sufficient processes, documentation and approval of related party transactions with affiliates.&nbsp;In
2012, we have made enhancements to our internal controls over financial reporting.&nbsp;See &ldquo;Part II&mdash;Item 15. Controls
and Procedures&mdash;Remediation and Changes in Internal Control Over Financial Reporting.&rdquo;&nbsp;Based on these actions taken
and our testing and evaluation of the effectiveness of our internal controls, we have concluded the material weaknesses no longer
existed as of December 31, 2012 and December 31, 2013. Our independent registered public accounting firm did not conduct an audit
of our internal control over financial reporting for the years ended December 31, 2012 and December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">However, although our management concluded
that we maintained effective internal controls over financial reporting as of December 31, 2013, we cannot assure you that we will
maintain effective internal control over financial reporting on an ongoing basis. If we fail to maintain effective internal controls
over financial reporting, we will not be able to conclude and our independent registered public accounting firm will not be able
to report (if it is required to report) that we have effective internal controls over financial reporting in accordance with the
Sarbanes-Oxley Act of 2002 in our future annual report on Form 20-F covering the fiscal year in which this failure occurs. Effective
internal control over financial reporting is necessary for us to produce reliable financial reports. Any failure to maintain effective
internal controls over financial reporting could result in the loss of investor confidence in the reliability of our financial
statements, which in turn could have a material and adverse effect on the trading price of our ADSs. Furthermore, we may need to
incur additional costs and use additional management and other resources as our business and operations further expand or in an
effort to remediate any significant control deficiencies that may be identified in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Proceedings instituted by the SEC against
five PRC-based accounting firms, including our independent registered public accounting firm,</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">could result in financial statements
being determined to not be in compliance with the requirements of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In late 2012, the SEC commenced administrative
proceedings under Rule 102(e) of its Rules of Practice and also under the Sarbanes-Oxley Act of 2002 against the Chinese affiliates
of the &ldquo;big four&rdquo; accounting firms, (including our auditors) and also against Dahua (the former BDO affiliate in China).
The Rule 102(e) proceedings initiated by the SEC relate to these firms&rsquo; inability to produce documents, including audit work
papers, in response to the request of the SEC pursuant to Section 106 of the Sarbanes-Oxley Act of 2002, as the auditors located
in the PRC are not in a position lawfully to produce documents directly to the SEC because of restrictions under PRC law and specific
directives issued by the China Securities Regulatory Commission. The issues raised by the proceedings are not specific to our auditors
or to us, but affect equally all audit firms based in China and all China-based businesses with securities listed in the United
States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In January 2014, an administrative judge
reached an initial decision that the &ldquo;big four&rdquo; accounting firms should be barred from practicing before the SEC for
six months. However, it is currently impossible to determine the ultimate outcome of this matter as the accounting firms have filed
a petition for review of the initial decision and pending that review the effect of the initial decision is suspended. The SEC
Commissioners will review the initial decision, determine whether there has been any violation and, if so, determine the appropriate
remedy to be placed on these audit firms. Once such an order was made, the accounting firms would have a further right to appeal
to the US Federal courts, and the effect of the order might be further stayed pending the outcome of that appeal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Depending upon the final outcome, listed
companies in the United States with major PRC operations may find it difficult or impossible to retain auditors in respect of their
operations in the PRC, which could result in financial statements being determined to not be in compliance with the requirements
of the Exchange Act, including possible delisting. Moreover, any negative news about the proceedings against these audit firms
may cause investor uncertainty regarding China-based, United States-listed companies and the market price of our ADSs may be adversely
affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">While we cannot predict the outcome of the
SEC&rsquo;s proceedings, if the accounting firms, including our independent registered public accounting firm, were denied, temporarily
or permanently, the ability to practice before the SEC, and we are unable to timely find another registered public accounting firm
which can audit and issue a report on our financial statements, we will not be able to meet the reporting requirements under the
Exchange Act, which may ultimately result in our deregistration by the SEC and delisting from the NYSE. Moreover, any negative
publicity about the SEC&rsquo;s proceedings against these accounting firms may erode investor confidence in China-based, United
States listed companies in general and the trading price of our ADSs may be adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Our auditor, like other independent registered
public accounting firms operating in China, is not permitted to be subject to inspection by the Public Company Accounting Oversight
Board (United States), or the PCAOB, and consequently, investors may be deprived of the benefits of such inspection.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The independent registered public accounting
firm that issues the audit reports included in this annual report, as an auditor of companies that are traded publicly in the United
States and a firm registered with the Public Company Accounting Oversight Board (United States), or the PCAOB, is required by the
laws of the United States to undergo regular inspections by the PCAOB to assess its compliance with the laws of the United States
and with applicable professional standards. Because our auditor is located in China, a jurisdiction where the PCAOB is currently
unable to conduct inspections without the approval of the PRC authorities, our auditor, like other independent registered public
accounting firms operating in China, is currently not inspected by the PCAOB.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Inspections of other firms that the PCAOB
has conducted outside of China have identified deficiencies in those firms&rsquo; audit procedures and quality control procedures,
and such deficiencies may be addressed as part of the inspection process to improve future audit quality. The inability of the
PCAOB to conduct inspections of independent registered public accounting firms operating in China makes it more difficult to evaluate
the effectiveness of our auditor&rsquo;s audit procedures or quality control procedures, and to the extent that such inspections
might have facilitated improvements in our auditor&rsquo;s audit procedures and quality control procedures, investors may be deprived
of such benefits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Restrictions on currency exchange under
Chinese laws may limit our ability to convert cash derived from our operating activities into foreign currencies and may materially
and adversely affect the value of your investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Substantially all of our revenues and operating
expenses are denominated in Renminbi. Under the relevant foreign exchange restrictions in China, conversion of the Renminbi is
permitted, without the need for SAFE approval, for &ldquo;current account&rdquo; transactions, which includes dividends, trade,
and service-related foreign exchange transactions. Conversion of the Renminbi for &ldquo;capital account&rdquo; transactions, which
includes foreign direct investment and loans, is still subject to significant limitations and requires approvals from and registration
with SAFE and other Chinese regulatory authorities. We cannot assure you that SAFE or other Chinese governmental authorities will
not further limit, or eliminate, our ability to purchase foreign currencies in the future. Any existing and future restrictions
on currency exchange in China may limit our ability to convert cash derived from our operating activities into foreign currencies
to fund expenditures denominated in foreign currencies. If the foreign exchange restrictions in China prevent us from obtaining
U.S. dollars or other foreign currencies as required, we may not be able to pay dividends in U.S. dollars or other foreign currencies
to our shareholders, including holders of our ADSs. Furthermore, foreign exchange control in respect of the capital account transactions
could affect our Chinese subsidiaries&rsquo; ability to obtain foreign exchange or conversion into RMB through debt or equity financing,
including by means of loans or capital contributions from us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We face risks related to health epidemics
and other outbreaks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our business could be adversely affected
by the effects of swine flu, avian flu, Severe Acute Respiratory Syndrome, or SARS or other epidemics or outbreaks. China reported
a number of cases of SARS in April 2004. In 2006, 2007 and 2008, there were reports of occurrences of avian flu in various parts
of China, including a few confirmed human cases and deaths. In April 2009, an outbreak of swine flu occurred in Mexico and the
United States and human cases of swine flu were discovered in China and Hong Kong. In April 2013, there were reports of occurrences
of avian flu in various parts of China, including a number of confirmed human cases and deaths. Any prolonged occurrence or recurrence
of swine flu, avian flu, SARS or other adverse public health developments in China or any of the major markets in which we do business
may have a material adverse effect on our business and operations. These could include our ability to deliver our products within
or outside of China, as well as temporary closure of our manufacturing facilities, or our customers&rsquo; facilities, leading
to delayed or cancelled orders. Any severe travel or shipment restrictions and closures would severely disrupt our operations and
adversely affect our business and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Risks Relating to Our ADSs</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">The trading prices of our ADSs have been
and may continue to be volatile, which could result in substantial losses to investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The closing trading prices of our ADSs ranged
from $4.07 to $46.55 in 2013, and are likely to remain volatile in the future and could fluctuate widely due to factors beyond
our control. This may happen because of broad market and industry factors, like the performance and fluctuation of the market prices
of other companies with business operations located mainly in China that have listed their securities in the United States. A number
of China-based companies, including many solar energy companies, have listed their securities on U.S. stock exchanges. The securities
of some of these companies have experienced significant volatility, including price declines in connection with their initial public
offerings. The trading performances of these Chinese companies&rsquo; securities after their offerings may affect the attitudes
of investors toward Chinese companies listed in the United States in general and consequently may impact the trading performance
of our ADSs, regardless of our actual operating performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition to market and industry factors,
the price and trading volume for our ADSs may be highly volatile for factors specific to our own operations, including the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>variations in our revenues, earnings and cash flow;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>announcements of our new investments, acquisitions, strategic partnerships, or joint ventures;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>announcements of new products and expansions by us or our competitors;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>announcements of sale of existing business segments;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>fluctuations in market prices of or demand for our products;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>changes in financial estimates by securities analysts;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>changes in the ratio of ADSs vs. common shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>additions or departures of key personnel; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>potential litigation or regulatory investigations.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any of these factors may result in large
and sudden changes in the volume and price at which our ADSs will trade. We cannot assure you that these factors will not occur
in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">The sale or availability for sale of
substantial amounts of our ADSs could adversely affect their market price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Sales of substantial amounts of our ADSs
in the public market or the perception that these sales could occur, could adversely affect the market price of our ADSs and could
materially impair our ability to raise capital through equity offerings in the future. Our ADSs are freely tradable without restriction
or further registration under the U.S. Securities Act of 1933, as amended, or the Securities Act, subject to the restrictions in
Rule 144 and Rule 701 under the Securities Act. In addition, market sales of securities held by our significant shareholders or
any other shareholder or the availability of these securities for future sale may adversely affect the market price of our ADSs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Our Third Amended and Restated Memorandum
and Articles of Association contain anti-takeover provisions that could have a material adverse effect on the rights of holders
of our ordinary shares and ADSs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our Third Amended and Restated Memorandum
and Articles of Association contain provisions to limit the ability of others to acquire control of our company or cause us to
engage in change-of-control transactions. These provisions could have the effect of depriving our shareholders of an opportunity
to sell their shares at a premium over prevailing market prices by discouraging third parties from seeking to obtain control of
our company in a tender offer or similar transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">You may face difficulties in protecting
your interests, and your ability to protect your rights through U.S. courts may be limited, because we are incorporated under Cayman
Islands law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are an exempted company incorporated
under the laws of the Cayman Islands. Our corporate affairs are governed by our memorandum and articles of association, as amended
from time to time, the Companies Law of the Cayman Islands, as amended from time to time, and the common law of the Cayman Islands.
The rights of shareholders to take actions against the directors, actions by minority shareholders and the fiduciary responsibilities
of our directors to us under Cayman Islands law are to a large extent governed by the common law of the Cayman Islands. The common
law of the Cayman Islands is derived in part from comparatively limited judicial precedent in the Cayman Islands as well as from
the common law of England, the decisions of whose courts are of persuasive authority, but are not binding, on a court in the Cayman
Islands. The rights of our shareholders and the fiduciary responsibilities of our directors under Cayman Islands law are not as
clearly established as they would be under statutes or judicial precedent in some jurisdictions in the United States. In particular,
the Cayman Islands has a less developed body of securities laws than the United States. Some U.S. states, such as Delaware, have
more fully developed and judicially interpreted bodies of corporate law than the Cayman Islands. In addition, Cayman Islands companies
may not have standing to initiate a shareholder derivative action in a federal court of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Cayman Islands courts are also unlikely:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>to recognize or enforce against us judgments of courts of the United States based on certain civil liability provisions of
U.S. securities laws; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>to impose liabilities against us, in original actions brought in the Cayman Islands, based on certain civil liability provisions
of U.S. securities laws that are penal in nature.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There is no statutory recognition in the
Cayman Islands of judgments obtained in the United States, although the courts of the Cayman Islands will in certain circumstances
recognize and enforce a non-penal judgment of a foreign court of competent jurisdiction without retrial on the merits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As a result of all of the above, public
shareholders may have more difficulty in protecting their interests in the face of actions taken by management, members of the
board of directors or controlling shareholders than they would as public shareholders of a company incorporated in the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Certain judgments obtained against us
by our shareholders may not be enforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are a Cayman Islands company and all
of our assets are located outside of the United States. Substantially all of our current operations are conducted in the China.
In addition, a majority of our current directors and officers are nationals and residents of countries other than the United States.
Substantially all of the assets of these persons are located outside the United States. As a result, it may be difficult or impossible
for you to bring an action against us or against these individuals in the United States in the event that you believe that your
rights have been infringed under the United States federal securities laws or otherwise. Even if you are successful in bringing
an action of this kind, the laws of the Cayman Islands and of China may render you unable to enforce a judgment against our assets
or the assets of our directors and officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">The voting rights of holders of ADSs
are limited by the terms of the deposit agreement, and you may not be able to exercise your right to vote your ordinary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As a holder of our ADSs, you will only be
able to exercise the voting rights with respect to the underlying ordinary shares in accordance with the provisions of the deposit
agreement. Under the deposit agreement, you must vote by giving voting instructions to the depositary. Upon receipt of your voting
instructions, the depositary will vote the underlying ordinary shares in accordance with these instructions. You will not be able
to directly exercise your right to vote with respect to the underlying shares unless you withdraw the shares. Under our Third Amended
and Restated Memorandum and Articles of Association, the minimum notice period required for convening a general meeting is seven
days. When a general meeting is convened, you may not receive sufficient advance notice to withdraw the shares underlying your
ADSs to allow you to vote with respect to any specific matter. If we ask for your instructions, the depositary will notify you
of the upcoming vote and will arrange to deliver our voting materials to you. We cannot assure you that you will receive the voting
materials in time to ensure that you can instruct the depositary to vote your shares. In addition, the depositary and its agents
are not responsible for failing to carry out voting instructions or for their manner of carrying out your voting instructions.
This means that you may not be able to exercise your right to vote and you may have no legal remedy if the shares underlying your
ADSs are not voted as you requested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">The depositary for our ADSs will give
us a discretionary proxy to vote our ordinary shares underlying your ADSs if you do not vote at shareholders&rsquo; meetings, except
in limited circumstances, which could adversely affect your interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the deposit agreement for the ADSs,
if you do not vote, the depositary will give us a discretionary proxy to vote our ordinary shares underlying your ADSs at shareholders&rsquo;
meetings unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we have failed to timely provide the depositary with notice of meeting and related voting materials;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we have instructed the depositary that we do not wish a discretionary proxy to be given;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we have informed the depositary that there is substantial opposition as to a matter to be voted on at the meeting;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a matter to be voted on at the meeting would have a material adverse impact on shareholders; or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the voting at the meeting is to be made by a show of hands.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The effect of this discretionary proxy is
that if you do not vote at shareholders&rsquo; meetings, you cannot prevent our ordinary shares underlying your ADSs from being
voted, except under the circumstances described above. This may make it more difficult for shareholders to influence the management
of our company. Holders of our ordinary shares are not subject to this discretionary proxy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">You may not receive dividends or other
distributions on our ordinary shares and you may not receive any value for them, if it is illegal or impractical to make them available
to you.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The depositary of our ADSs has agreed to
pay to you the cash dividends or other distributions it or the custodian receives on ordinary shares underlying our ADSs, after
deducting its fees and expenses. You will receive these distributions in proportion to the number of ordinary shares your ADSs
represent. However, the depositary is not responsible if it decides that it is unlawful or impractical to make a distribution available
to any holders of ADSs. For example, it would be unlawful to make a distribution to a holder of ADSs if it consists of securities
that require registration under the Securities Act but that are not properly registered or distributed under an applicable exemption
from registration. The depositary may also determine that it is not feasible to distribute certain property through the mail. Additionally,
the value of certain distributions may be less than the cost of mailing them. In these cases, the depositary may determine not
to distribute such property. We have no obligation to register under U.S. securities laws any ADSs, ordinary shares, rights or
other securities received through such distributions. We also have no obligation to take any other action to permit the distribution
of ADSs, ordinary shares, rights or anything else to holders of ADSs. This means that you may not receive distributions we make
on our ordinary shares or any value for them if it is illegal or impractical for us to make them available to you. These restrictions
may cause a material decline in the value of our ADSs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">You may not be able to participate in
rights offerings and may experience dilution of your holdings.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may, from time to time, distribute rights
to our shareholders, including rights to acquire securities. Under the deposit agreement, the depositary will not distribute rights
to holders of ADSs unless the distribution and sale of rights and the securities to which these rights relate are either exempt
from registration under the Securities Act with respect to all holders of ADSs, or are registered under the provisions of the Securities
Act. The depositary may, but is not required to, attempt to sell these undistributed rights to third parties, and may allow the
rights to lapse. We may be unable to establish an exemption from registration under the Securities Act, and we are under no obligation
to file a registration statement with respect to these rights or underlying securities or to endeavor to have a registration statement
declared effective. Accordingly, holders of ADSs may be unable to participate in our rights offerings and may experience dilution
of their holdings as a result.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">You may be subject to limitations on
transfer of your ADSs.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Your ADSs are transferable on the books
of the depositary. However, the depositary may close its books at any time or from time to time when it deems expedient in connection
with the performance of its duties. The depositary may close its books from time to time for a number of reasons, including in
connection with corporate events such as a rights offering, during which time the depositary needs to maintain an exact number
of ADS holders on its books for a specified period. The depositary may also close its books in emergencies, and on weekends and
public holidays. The depositary may refuse to deliver, transfer or register transfers of our ADSs generally when our share register
or the books of the depositary are closed, or at any time if we or the depositary thinks it is advisable to do so because of any
requirement of law or of any government or governmental body, or under any provision of the deposit agreement, or for any other
reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">We may be classified as a passive foreign
investment company, or PFIC, for U.S. federal income tax purposes, which could subject U.S. investors in our ADSs or ordinary shares
to adverse tax consequences.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A non-United States corporation, such as
our company, will be classified as a &ldquo;passive foreign investment company&rdquo; (or a &ldquo;PFIC&rdquo;), for United States
federal income tax purposes, for any taxable year if either (i)&nbsp;75% or more of its gross income consists of certain types
of &ldquo;passive&rdquo; income or (ii)&nbsp;50% or more of the value of its assets (determined on the basis of a quarterly average)
produce or are held for the production of passive income. We do not believe that we were a PFIC, for United States federal income
tax purposes, for the taxable year ended December 31, 2013. Although we do not currently expect that our assets or activities will
change in a manner that would cause us to become a PFIC for our current taxable year or the foreseeable future, there can be no
assurance our business plans will not change in a manner that will affect our PFIC status. Because there are uncertainties in the
application of the relevant rules and PFIC status is a fact-intensive determination made on an annual basis, no assurance can be
given that we are not or will not become classified as a PFIC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If we were to be classified as a PFIC in
any taxable year, a U.S. Holder (as defined in &ldquo;Item 10. Additional Information&mdash;E. Taxation&mdash;Material United States
Federal Income Tax Considerations&rdquo;) would be subject to special rules generally intended to reduce or eliminate any benefits
from the deferral of United States federal income tax that a U.S. Holder could derive from investing in a non-United States corporation
that does not distribute all of its earnings on a current basis. Further, if we are classified as a PFIC for any year during which
a U.S. Holder holds our ADSs or ordinary shares, we generally will continue to be treated as a PFIC for all succeeding years during
which such U.S. Holder holds our ADSs or ordinary shares. See &ldquo;Item 10. Additional Information&mdash;E. Taxation&mdash;Material
United States Federal Income Tax Considerations&mdash;Passive Foreign Investment Company Considerations.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;4. INFORMATION ON THE COMPANY</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">A.&#9;History and Development of the Company</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our company was incorporated in Cayman Islands
as Mega Stand International Limited in November 2007. We changed our corporate name to Daqo New Energy Corp. in August 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are a company limited by shares domiciled
in the Cayman Islands. The corporate affairs of Daqo New Energy Corp. are governed by our Third Amended and Restated Memorandum
and Articles of Association, the Companies Law (2013 Revision) of the Cayman Islands and the common law of the Cayman Islands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2008, we established Chongqing Daqo as
our wholly owned operating subsidiary in China. Through Chongqing Daqo, we focus primarily on the manufacture and sale of polysilicon
and have expanded into wafer manufacturing. In addition to Chongqing Daqo, we established Nanjing Daqo New Energy Co., Ltd., or
Nanjing Daqo, in 2007 in China, through which we conducted our module manufacturing business. In 2009, we established our wholly
owned subsidiary Daqo Solar Energy North America, or Daqo North America, in California to promote our products in North America.
In 2011, we established a wholly owned subsidiary, Daqo New Energy Holdings (Canada) Ltd., or Daqo Canada, to expand our operations
in Canada. In 2011, to expand our polysilicon manufacturing capacity, we established another wholly owned subsidiary in China named
Xinjiang Daqo New Energy Co., Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Daqo Group established Daqo New Material
in 2006 in Chongqing, China. Although all of Daqo Group&rsquo;s equity interest holders also beneficially own shares of Daqo Cayman,
Daqo Group does not have any shareholding in our company. As of the date of this annual report, holders of equity interests in
Daqo Group in aggregate beneficially own 58.5% of the outstanding ordinary shares of our company. Subsequent to the establishment
of Chongqing Daqo, in July 2008, Chongqing Daqo entered into a lease agreement with Daqo New Material to rent all of Daqo New Material&rsquo;s
land, production infrastructure, machinery, equipment, facilities, factories, buildings and other assets for polysilicon production.
This lease was terminated on December 30, 2013. Under Financial Accounting Standards Board Accounting Standards Codification 810-10-15,
&ldquo;Variable Interest Entities,&rdquo; we were deemed to be Daqo New Material&rsquo;s primary beneficiary and Daqo New Material
had been consolidated from July&nbsp;1, 2008 to December 30, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We commenced commercial production at the Phase 1 polysilicon
facilities in July 2008. Production at the Phase 1 polysilicon facilities used equipment and property of both the Company and Daqo
New Material.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Even though we do not directly or indirectly
hold any equity interests in Daqo New Material, under U.S. GAAP, Daqo New Material has been deemed to be our predecessor business
from November&nbsp;16, 2006 through June&nbsp;30, 2008.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under a non-competition agreement with us,
Daqo Group has agreed not to engage in the business of manufacturing, marketing or distributing polysilicon or any other solar
power products anywhere in the world or compete in any manner with our businesses without our consent for an indefinite term. Such
related party transactions are subject to our audit committee&rsquo;s review and approval. Under the non-competition agreement,
we, through Daqo Cayman and Chongqing Daqo, are entitled to seek temporary restraining orders, injunctions or other equitable relief,
in addition to monetary remedies specified in the agreement, if Daqo Group breaches its non-competition obligations. With the approval
of our audit committee, we gave our consent to Daqo Group to enter the photovoltaic cell manufacturing business in China. Daqo
Group incorporated the wholly owned subsidiary, Zhenjiang Daqo Solar Co., Ltd., or Zhenjiang Daqo, which started commercial production
of photovoltaic cells in 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October&nbsp;7, 2010, we listed our ADSs,
each representing five ordinary shares of Daqo New Energy Corp., on the New York Stock Exchange under the symbol &ldquo;DQ&rdquo;
in connection with an initial public offering. We issued a total of 9,200,000 ADSs at $9.50 per ADS in connection with our initial
public offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In February 2011, we incorporated a
wholly owned subsidiary, Xinjiang Daqo, in Shihezi Economic Development Area in Xinjiang Autonomous Region, China, to build
our Phase 2a polysilicon production facilities. We finished construction of our Phase 2a polysilicon facilities in September
2012 and have engaged in commercial production at these facilities since the first quarter of 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In April 2011, we incorporated a wholly
owned subsidiary, Daqo Canada, to expand our operations in North America. Through Daqo Canada, we set up a joint venture with JNE
Solar Inc., a party unrelated to us prior to this transaction, in Hamilton, Ontario. This joint venture was terminated in April
2012. We liquidated Daqo Canada in October 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In September 2012, to focus on our
core businesses of polysilicon and wafer production, we sold our 100% equity interest in our module business to Daqo Group
for a consideration of $9.9 million. On December&nbsp;21, 2012, we effected a change of the ADS to ordinary share ratio from
one ADS representing five ordinary shares to one ADS representing 25 ordinary shares. The ratio change had the same effect as
a 1-for-5 reverse ADS split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In September 2012, we halted polysilicon
production in order to begin maintenance and technology improvement projects at the Phase 1 polysilicon facilities with the primary
objective of lowering the cost to produce polysilicon at these facilities. In conjunction with the production stoppage, a supplementary
lease agreement with Daqo New Material was reached which reduced lease payments beginning in 2013 to approximately $0.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the first quarter of 2013, we terminated
Daqo North America, which was originally designed to promote our module products in North America. In the second quarter of 2013,
we incurred fixed asset impairment charges related to the Phase 1 polysilicon facilities to reflect the market challenges that
had an adverse effect on the profit-generating ability of the assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of March 2013, we successfully reached
our initial targets for both capacity and cost structure for our Xinjiang polysilicon facilities. As part of our efforts toward
further improvement, we successfully completed a project to identify and reduce restrictions on our production throughput, or a
&ldquo;debottlenecking&rdquo; project, prior to the end of 2013. We expect to fully realize capacity of 6,150 MT and lower total
production costs to the level of $14 per kg when the newly added capacity is ramped up.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In November 2013, the Board
approved our plan to further expand our capacity in Xinjiang from 6,150 MT to 12,150 MT in order to take advantage of the
enormous competitive advantage in electricity price in Xinjiang compared to that of Chongqing. We also plan to upgrade our
off-gas treatment process from traditional Hydrogenation technology to Hydrochlorination&nbsp;technology. Simultaneous
with our 2014 annual maintenance, we will prepare our Xinjiang facilities for the expansion. We expect to complete construction and
installation and start pilot production by the end of 2014, and we expect to fully ramp up the newly added capacity in the
second quarter of 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In November&nbsp;2013, we also achieved
great progress in our wafer business by increasing our annual capacity from 36 million pieces to 72 million pieces and lowering
our production costs significantly. We continuously strive to improve the cost structure for wafer production. We are in the process
of implementing a slurry recovery system and expect to complete the project in May 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As a result of certain difficulties in obtaining
the planned reductions in cost at the Phase 1 polysilicon facilities, combined with the plan to expand capacity at our Xinjiang
plant, we concluded the best course of action was to (i) cease production at the Phase 1 polysilicon facilities, after which we
incurred an impairment charge of $158.4 million in the second quarter of 2013, (ii) relocate machinery and equipment from the Phase
1 polysilicon facilities to Xinjiang and (iii) ultimately, on December&nbsp;30, 2013, sign an amendment to the supplementary lease
agreement to terminate the lease, which resulted in the de-consolidation of Daqo New Material. To support the wafer manufacturing
at Chongqing Daqo, a new lease agreement was entered into with Daqo New Material to lease a small portion of its facilities, including,
but not limited to, the dining hall, part of the office buildings and portions of the employee dormitory, on January 1, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As a result of our relocation, Chongqing
Daqo no longer needed to lease facilities from Daqo New Material as originally planned. On December&nbsp;30, 2013, Chongqing Daqo
signed an amendment to the supplementary lease agreement to terminate the lease agreement. Because of the fact that Chongqing Daqo
will still use a very small portion of Daqo New Material&rsquo;s facilities, including, but not limited to, the dining hall, part
of the office buildings and portions of the employee dormitory, on January 1, 2014, Chongqing Daqo signed a new lease agreement
with Daqo New Material for the limited facilities mentioned above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our principal executive offices are located
at 666 Longdu Avenue, Wanzhou, Chongqing 404000, People&rsquo;s Republic of China, and our telephone number at that location is
+86-23-6486-6666. Our registered office in the Cayman Islands is located at the offices of International Corporation Services Ltd.,
P.O. Box 472, 2nd Floor Harbor Place, Grand Cayman KY1-1106, Cayman Islands. Our agent for service of process in the United States
is Law Debenture Corporate Services Inc., located at 400 Madison Avenue, 4<SUP>th</SUP> Floor, New York, NY 10017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">See &ldquo;Item 5. Operating and Financial
Review and Prospects&mdash;B. Liquidity and Capital Resources&mdash;Capital Expenditures&rdquo; for a discussion of our capital
expenditures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">B.&#9;Business Overview</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Photovoltaics is one of the proven and most
rapidly growing renewable energy sources in the world. Energy from the sun is converted into electricity primarily through the
photovoltaic effect and, to a lesser extent, through concentrated solar thermal technologies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are a leading polysilicon
manufacturer based in China. We utilize the chemical vapor deposition process, or the &ldquo;modified Siemens process,&rdquo;
to produce polysilicon, and have fully implemented the closed loop system to produce high-quality polysilicon
cost-effectively. We manufacture and sell high-quality polysilicon to photovoltaic product manufacturers, who further process
our polysilicon into ingots, wafers, cells and modules for solar power solutions. Currently our annual capacity for
polysilicon is 6,150&nbsp;MT. We plan to further increase the capacity to 12,150 MT by the end of 2014, and we expect to
fully ramp up capacity in the second quarter of 2015. We also plan to upgrade our off-gas treatment process from traditional
Hydrogenation technology to Hydrochlorination technology. Simultaneous with our 2014 annual maintenance, we will prepare our
Xinjiang facilities for expansion. We improve our production efficiency and increase our output through technological
improvements, adoption of process innovation and refinement as well as equipment enhancement. Actual production volume may
exceed the production capacity due to operational improvements we may implement at our facilities in response to market
conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have expanded to the downstream photovoltaic
manufacturing businesses to establish facilities for wafer manufacturing. Our current wafer manufacturing annual capacity is 72
million pieces. We have started to report wafer shipments in units of &ldquo;million pieces&rdquo; instead of &ldquo;MW&rdquo;
since the first quarter of 2013. Improvements in wafer technology can cause watts per piece to increase, resulting in larger MW
shipments without increases in the amount of wafer produced, and consequently we believe that the newly adopted unit more accurately
presents our operating performance. Most of our wafer product is high efficiency wafer which represents approximately 4.3 watts per piece. The following diagram illustrates the value chain for the manufacture
of crystalline-silicon based photovoltaic products:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="image_005.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our operations are located in Chongqing
and Xinjiang, which are in southwestern and northwestern China, respectively. The cost of doing business in western China is generally
lower than the coastal areas of China. Because of our strategic locations, we experience advantages in electricity and raw material
costs over our competitors that are based in developed countries or in the coastal areas of China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We impose rigorous quality control standards
at various stages of our manufacturing process. We systematically test raw materials from our suppliers and test our inputs at
each stage of our manufacturing process to ensure that they meet all technical specifications. With our strict quality control
measures in our manufacturing and facility construction processes, we are able to produce high-quality polysilicon consistently
at our facilities. In 2013, approximately 99.3% of our polysilicon met the solar grade quality standard, approximately 96.3% of
our polysilicon met the highest specification of the solar grade quality standard, and approximately 88.0% of our polysilicon met
the electronic grade quality standard in China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have achieved substantial growth since
we commenced commercial production of polysilicon in July 2008. Although we experienced a significant downturn in terms of revenue
and net income in 2012, our revenue and gross margin improved in 2013 due to a recovery in the global market and our continuous
cost reduction efforts.<B><I> </I></B>We produced 4,524 MT, 3,349 MT<SUP> (1)</SUP> and 4,805 MT of polysilicon and sold 3,947
MT<SUP>(3)</SUP>, 3,262 MT<SUP>(2)(3)</SUP> and 4,283 MT<SUP>(3) </SUP>in 2011, 2012 and 2013, respectively. We generated revenues
from continuing operations of $232.2 million, $86.9 million and $109.0 million in 2011, 2012 and 2013, respectively. We achieved
net income attributable to Daqo New Energy Corp. shareholders of $33.3 million in 2011. We incurred net losses attributable to
Daqo New Energy Corp. shareholders of $111.9 million and $70.9 million in 2012 and 2013 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We currently sell polysilicon to China-based
photovoltaic product manufacturers. The majority of our sales are made under framework contracts, with the prices to be determined
at the time when specific sales orders are made. As of December 31, 2013, our major photovoltaic product customers included operating
entities of Jiangsu Meike Silicon Energy, Zhenjiang Daqo Solar, Hanwha SolarOne, JinkoSolar and EGing PV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We commenced commercial production of wafers
using our own polysilicon in July 2011. In November&nbsp;2013, we successfully increased our annual wafer production capacity to
72 million pieces. In addition to our wafer sales, since the second quarter of 2012, we started to provide multi-crystalline ingot
and block manufacturing outsourcing services to our customers. In May 2010, we commenced commercial production of modules. We sold
all of our module facilities in September 2012 to focus on our core businesses of polysilicon and wafer production. The operation
of our downstream photovoltaic product manufacturing business involves risks and uncertainties, such as higher cost, lack of experience,
financing, construction and operational uncertainties, potential competition and regulatory risks. See &ldquo;Item 3. Key Information&mdash;D.
Risk Factors&mdash;Risks Relating to Our Business&rdquo; for details.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Note:<BR>
(1)&#9;Excluding 617 MT polysilicon produced in Xinjiang facilities during the pilot production period.<BR>
(2)&#9;Excluding 323 MT polysilicon sold from Xinjiang facilities during the pilot production period.<BR>
(3)&#9;The polysilicon sales volume here only refers to the external sales. The internal sales to our in-house wafer facilities
were 454 MT, 315 MT and 770 MT in 2011, 2012 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Quarterly sales volume table for polysilicon
and wafer in 2013:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td nowrap style="width: 25%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Sales Volume</td>
    <td nowrap style="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">First Quarter</td>
    <td nowrap style="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Second Quarter</td>
    <td nowrap style="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Third Quarter</td>
    <td nowrap style="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Fourth Quarter</td>
    <td nowrap style="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">FY 2013</td></tr>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Polysilicon (MT)</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">700.91</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">973.13</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">1,313.05</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">1295.79</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">4282.88</td></tr>
<TR STYLE="vertical-align: bottom; background-color: White">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Wafer (million pieces)</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.73</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">9.09</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">7.08</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">12.69</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">29.59</td></tr>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Wafer OEM (million pieces)</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">-</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">-</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">-</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.45</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.45</td></tr>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Ingot and Block (MT)</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">40.45</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">160.68</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">10.16</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.30</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">211.59</td></tr>
</table>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Our Products</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We manufacture and sell high-purity polysilicon
to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells and modules for solar power
solutions. We offer ready-to-use polysilicon, packaged to meet crucible stacking, pulling, and solidification needs. Our current
annual capacity for polysilicon production is 6,150 MT. We are one of the best quality polysilicon makers in China. In 2013, approximately
96.3% of our polysilicon met the highest specification of the solar grade quality standard, and approximately 88.0% of our polysilicon
met the electronic grade quality standard in China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Polysilicon monthly quality data in 2013:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 219.75pt; width: 426pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, we also offer high-quality
wafers through our downstream photovoltaic product manufacturing business. Currently the annual capacity of our wafer facilities
is 72 million pieces. To meet the prevailing market demands, we&nbsp;produce both&nbsp;standard and high efficiency multi-crystalline
wafers with dimensions of 156 millimeters x 156 millimeters and thickness of 200 microns.&nbsp;Our high efficiency wafers are produced&nbsp;through
an innovative casting&nbsp;manufacturing process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">See &ldquo;Item 5. Operating and Financial
Review and Prospects&mdash;A. Operating Results&mdash;Components of Results of Operations&mdash;Revenues&rdquo; for a breakdown
of our net revenues by category of activity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Manufacturing Process</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Polysilicon</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">Modified Siemens Process</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Three main technologies are used in polysilicon
production: the Siemens process, the fluidized bed reactor process and the newly developed upgraded metallurgical grade silicon
process. The Siemens process is an existing and well proven process technology predominantly used in high purity silicon feedstock
production in the solar industry. Three other new technologies, the fluidized bed reactor process, the upgrading metallurgical
grade silicon process and the vapor-to-liquid deposition, have the potential for lower cost production but are relatively new and
less proven.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We use the modified Siemens process to produce
polysilicon. The modified Siemens process includes three distinct steps: (1)&nbsp;TCS production; (2)&nbsp;distillation; and (3)&nbsp;deposition.
In addition, we recover and recycle exhaust gas throughout the process in our closed loop manufacturing system. The diagram below
describes our current general manufacturing process:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 210pt; width: 328.5pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>TCS production</I>. The first step of
the manufacturing process is to produce TCS from two widely available industrial raw materials: MG-Si and liquid chlorine. We generate
TCS in-house through our integrated manufacturing process. TCS production includes two steps: hydrogen chloride synthesis, or HCl
synthesis, and TCS synthesis. At the HCl synthesis step, liquid chlorine from a chlorine tank is vaporized to chlorine gas and
sent to the HCl synthesis furnace, where it reacts with hydrogen to generate HCl. At the TCS synthesis step that follows, MG-Si
powder is then sent to a TCS furnace and reacted with HCl gas. The temperature in the TCS synthesis furnace is maintained at 280&ndash;320&ordm;C
to facilitate the TCS reaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Distillation</I>. Distillation is a method
of separating mixtures based on differences in their boiling points. Raw TCS is purified through distillation to produce high purity
TCS feedstock. The difference in boiling points of TCS and impurities such as boron, phosphorous, and metal halides allow for purification
of TCS. It is critical to remove these impurities in this process to eliminate the possible causes of low performance in solar
cells. In the distillation process, all by-product chemicals from vent gases are separated and further purified before being sent
back to our production areas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Deposition</I>. The purified TCS from
the distillation process is vaporized, mixed with hydrogen gas, and then fed into the deposition reactor. The mixed gas passes
over heated silicon slim rods inside the deposition reactor. In the reactor, multiple pair slim rods are heated up to approximately
1,100&deg;C and high purity silicon is deposited on the rods surface. The constant feeding of TCS and hydrogen gas allows for continuous
silicon deposition until 150&ndash;200mm in diameter is achieved. At this point the deposition cycle is completed and the ultra
pure silicon is harvested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">Closed loop manufacturing
system</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have implemented the modified Siemens
process in a completely closed loop system. The closed loop system is an advanced polysilicon manufacturing process widely used
by leading international polysilicon manufacturers. Compared to the open loop system, the closed loop system uses raw materials
more efficiently, requires less electricity and produces less pollution. Manufacturing polysilicon generates an exhaust gas primarily
consisting of hydrogen, HCl, and chlorosilanes. Using the vent gas recovery system, which combines condensers, distillation towers,
adsorption beds and compressors, we are able to separate the exhaust stream from our manufacturing process into individual components
that can be reused after further purification. For instance, a by-product of the deposition step is TET, which is a toxic chemical.
Through a separate hydrogenation process, we convert TET to TCS, so that we eliminate the costs related to TET disposal and reduce
operational risks of TET treatment. Mixed chlorosilanes are recovered as a liquid stream suitable for separation where we can directly
reuse TCS. Anhydrous HCl is recovered with high purity, suitable for use in TCS production. Recovered hydrogen typically contains
contaminants of fewer than 10 parts per million and is recycled to the deposition reactors. Recycling significantly reduces costs
related to waste disposal and the amount of raw materials we need to purchase for production.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Although the closed loop system has lower
manufacturing costs than the open loop system, manufacturing facilities based on the open loop system can be built within a shorter
period time with less initial capital investment for equipment. Most of polysilicon manufacturing facilities in China were traditionally
built based on the open loop system. However, as the polysilicon market may face downward pricing pressure from time to time, we
believe that an increasing number of China-based manufacturers are converting their open loop system to the closed loop system
and some of them have completed such conversion. The full implementation of the closed loop system by other polysilicon manufacturers
has diminished our competitive advantages provided by this system. Nevertheless, in August 2011, Chongqing Daqo entered into a
Technology License and Transfer Agreement with GTAT Corporation, a Delaware company, under which GTAT granted us a license to use,
in both our Chongqing and Xinjiang facilities, its Hydrochlorination TCS Production Technology and Chlorosilane Recovery/Waste
Neutralization Technology, which will help expand our manufacturing capacity and significantly reduce electricity consumption to
reduce our production costs to reach a more competitive level.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To achieve high efficiency in our manufacturing
process, we have also installed a distribution control system and a thermal energy recycling mechanism. The distribution control
system enables tight quality control, reduces process related variations, and improves productivity. Our thermal energy recycling
system allocates heat generated from our deposition reactors and hydrogenation reactors to many other production areas, such as
distillation facilities for TCS purification and our refrigeration station to support a large number of condensers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Moving forward, for our off-gas treatment
process we plan to adopt Hydrochlorination technology, a process which has seen increasing application in polysilicon manufacturing
in recent years. It converts TET (STC) to TCS by reacting with metallurgical grade silicon powder. Using Hydrochlorination technology,
chemical reactions take place under much higher pressure and at lower temperatures in comparison to the traditional hydrogenation
process. As a result, it consumes less electricity and offers a higher STC/TCS conversion rate. In addition, the hydrochlorination
process also does not require fresh TCS production, which further reduces production costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Wafer</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We conducted our wafer business through
tolling arrangements with third party wafer manufacturers in 2009 and 2010. In July 2011, we commenced commercial production of
multi-crystalline silicon wafers at our wafer production facilities, which have a current production capacity of 72 million pieces.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The manufacturing process of wafers typically
consists of two major steps: ingot preparation and wafering. Multi-crystalline ingots are prepared by directional solidification
in a casting furnace. Silicon ingots will then be shaped to the required sizes and sliced to wafers by wire saws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Manufacturing Capacity</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth our major
installed approximate annual production capacity objectives as of the dates indicated and includes the expected date of initial
commercial operation and fully ramped-up production of each expansion phase.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"></TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"><B>Approximate</B><BR>
        <B>Annual</B><BR>
        <B>Production</B><BR>
        <B>Capacity</B></P></TD>
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"><B>Construction
        Period</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"><B>Commercial</B><BR>
        <B>Production</B><BR>
        <B>Period</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"><B>Fully
        <BR>
Ramped-up</B><BR>         <B>Production</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Polysilicon:</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Phase
1a facilities <SUP>(1) (2)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,500MT</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">June 2007&mdash;May 2008</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July 2008&mdash;September 2012</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">March 2009</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Phase
1b facilities <SUP>(1) (2)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,800MT</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">May 2008&mdash;May 2009</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 2009&mdash;September 2012</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January 2010</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capacity enhancement of Phase 1 facilities <SUP>(1) (2)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,000MT</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 2010</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 2010&mdash;September 2012</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 2010</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Phase 2a facilities <SUP>(3)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5,000MT</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Second Quarter 2011&mdash;<BR>
September 2012</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">First Quarter 2013&mdash;Present</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">March 2013</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capacity enhancement of Phase 2a facilities <SUP>(3)</SUP> </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,150MT</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July 2013&mdash;January 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January 2014&mdash;Present</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Second Quarter 2014&nbsp;<SUP>(4)</SUP></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Phase 2b facilities <SUP>(3)</SUP> &#9;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6,000MT</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April 2014&mdash;December 2014 <SUP>(5)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 2014 <SUP>(5)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Second Quarter<BR>
2015 <SUP>(5)</SUP></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Wafer:</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Phase
    1a facilities&#9;<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">36 million pieces</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July 2010&mdash;February 2011</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July 2011&mdash;Present</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">November 2011</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Phase
    1b facilities&#9;<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">72 million pieces</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">February 2011&mdash;September 2011</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">May 2013&mdash;Present</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">November 2013</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>The facilities are located in Chongqing.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>We halted polysilicon production at these facilities in September 2012 and ultimately determined to cease production in the
second quarter of 2013.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>The facilities are located in Xinjiang.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD>Estimated and may change subject to actual conditions.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(5)</TD><TD>The estimated timetable of the Phase 2b expansion project in our Xinjiang polysilicon facilities may change subject to actual
conditions.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our annual polysilicon production capacity
reached 6,150 MT in 2013. We plan to further expand the capacity of our Xinjiang facilities to 12,150 MT in order to better take
advantage of what we believe will be lower production costs in Xinjiang, and optimize utilization of the assets being relocated
from the Phase 1 polysilicon facilities. We also plan to upgrade our off-gas treatment process from traditional Hydrogenation technology to Hydrochlorination technology. Simultaneous with our 2014 annual maintenance, we will prepare our Xinjiang facilities for expansion.
We expect to complete construction and start a trial run by the end of 2014, and we expect to fully ramp up capacity in the second
quarter of 2015. Our capacity expansion plan and technology improvement plan are preliminary and subject to risks and uncertainties
that may be out of our control. See &ldquo;Item 3. Key Information&mdash;D. Risk Factors&mdash;Risks Relating to Our Business&mdash;Our
future success depends substantially on our ability to significantly expand our polysilicon production capacity and output, which
exposes us to a number of risks and uncertainties&rdquo; and &ldquo;Item 3. Key Information&mdash;D. Risk Factors&mdash;Risks Relating
to Our Business&mdash;If we are unable to manage our expansion effectively, our business and financial results may be adversely
affected.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Materials and Inputs Used in Production</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Polysilicon</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Raw materials required for our polysilicon
manufacturing process primarily include metallurgical grade silicon, which is silicon of 95% to 99% purity, and liquid chlorine,
two widely available industrial raw materials used in our in-house production of TCS, electricity and other utilities, and other
significant inputs for production, such as argon gas, caustic soda and graphite parts. We produce liquid chlorine in our in-house
facilities. This provides us with a reliable supply of liquid chlorine and also helps us to further reduce material costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The costs of electricity are significant
in the production of polysilicon. The electricity costs in Chongqing are lower than those in coastal areas of China and those in
developed countries due to Chongqing&rsquo;s abundant hydroelectric resources. The costs of electricity in Xinjiang are over 50%
lower than even those in Chongqing due to Xinjiang&rsquo;s abundant coal resources. We also use other utilities, such as steam,
water and natural gas, for our manufacturing process. Steam supply is important to the production of polysilicon. We use both a
local supplier and our in-house capabilities to produce steam.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Wafer</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Wafer manufacturing uses solar grade polysilicon
as the primary raw material and consumables such as crucibles, wires and slurry. Our high quality polysilicon is a crucial factor
that will enable us to provide high quality silicon wafers to customers. We intend to utilize our in-house solar grade polysilicon
for high efficiency wafer production.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Equipment</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The major polysilicon production equipment
includes hydroelectrolysis devices, hydrochlorination synthesis furnaces, TCS synthesis furnaces, distillation towers, polysilicon
deposition reactors, hydrogenation reactors, exhaust gas recovery units and distribution control systems. The major wafer production
equipment includes crystal growing furnaces, crucible coating machines, squarers, wire saws, wet benches and testing tools.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have close relationships with several
of the world&rsquo;s leading equipment manufacturers and work closely with selected equipment manufacturers to develop and build
our production lines. In addition, we developed technical specifications for the design of our power supply systems and reactors
and have engaged manufacturers to construct the equipment in accordance with our specifications. Our engineers work closely with
our equipment suppliers to design our production facilities. Furthermore, to lower costs, we have purchased and will continue to
purchase equipment that can be appropriately designed and manufactured by China-based suppliers. Our technical team is responsible
for overseeing the installation of our manufacturing lines to optimize the interaction between the various individual components
of the entire production process. They work together with our equipment suppliers&rsquo; technical teams on site at the time of
installation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Quality Assurance</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We apply our quality control system at each
stage of our manufacturing process, from raw materials procurement to production and delivery, in order to ensure a consistent
quality of our products. We systematically inspect raw materials from our suppliers, such as MG-Si, liquid chlorine and various
consumables for our polysilicon business and polysilicon for our wafer business. We also test our inputs in each stage of our production
process to ensure the inputs meet all technical specifications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We sample each lot of polysilicon harvested
from the deposition reactors and keep the samples for product quality tracking purpose. We also set up a product tracking system
to trace back all shipped products to the samples we keep and to our database, which contains detailed information of each shipment.
We received the ISO 9001:2008 certification for our quality assurance system for production of polysilicon, which we believe demonstrates
our technological capabilities and inspires customer confidence. In addition, in 2009, Chongqing Science and Technology Commission
issued a three-year certificate to recognize our polysilicon as a high and new technology product. We have successfully renewed
the certificate until November 2015. We are also in the process of applying for &ldquo;High and New Technology Enterprise&rdquo;
status for our Xinjiang polysilicon facilities in Xinjiang.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For our wafer production, we inspect all
critical incoming materials, such as feedstock silicon, crucible, slurry and wire to ensure they meet our wafer production requirement.
Through manufacturing process, technical parameters such as minority lifetime, resistivity, geometry dimension and surface appearance
will be checked at various points as part of in-process quality control. As a final product, each wafer is sent to an automatic
inspection machine to be inspected against our product technical specifications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In order to facilitate our production of
photovoltaic products and ensure the quality of the finished product, we conduct analysis for raw materials, in-process products
and finished products and monitor the environmental impact and safety throughout the production process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Customers and Sales</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We currently sell polysilicon and wafers
to China-based photovoltaic product manufacturers. Our major customers include operating entities of Jiangsu Meike Silicon Energy,
Zhenjiang Daqo Solar, Hanwha SolarOne, JinkoSolar and EGing PV. We sell a substantial portion of our photovoltaic products to a
limited number of customers. Our top three customers in aggregate accounted for 38.7%, 40.9% and 38.5% of our total revenues in
2011, 2012 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The majority of our polysilicon sales are
made under framework contracts. The framework contracts typically provide binding terms for the sales volumes of our polysilicon.
The pricing terms are typically agreed upon between us and our customers based on the prevailing market prices when specific sales
orders are made. We currently sell all of our wafer products on a spot pricing basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have established nationwide marketing
capability through our sales team in China. Each member of our sales team is dedicated to a particular region. Our sales team attends
domestic and international industrial conferences and trade fairs and organizes advertising and public relations events. Our sales
and marketing team works closely with both our research and development team and our production team to coordinate our ongoing
supply and demand planning.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Research and Development</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We believe that the continual development
of our technology will be vital to maintaining our long-term competitiveness. We have one of the leading research and development
teams among polysilicon manufacturers in China. Our research and development team consists of 140 experienced researchers and engineers.
Our senior management team spearheads our research and development efforts and sets strategic directions for the advancement of
our products and production processes, focusing on efforts to improve product quality, reduce manufacturing costs and broaden our
product markets. In 2013, we completed 48 research and technology or process improvement projects to enhance our polysilicon and
wafer manufacturing processes, and successfully registered 8 patents with the State Intellectual Property Office of PRC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Intellectual Property</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our intellectual property is an essential
element of our business. We rely on patents, copyrights, trademarks, trade secrets and other intellectual property laws, as well
as non-competition and confidentiality agreements with our employees, business partners and others, to protect our intellectual
property rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of the date of this annual report, we
hold 21 patents and have 10 additional pending patent applications covering different aspects of the polysilicon manufacturing
process. We also rely heavily on a combination of proprietary process engineering, trade secrets and employee contractual protections
to establish and protect our intellectual property, as we believe that many crucial elements of our production processes involve
proprietary know-how, technology or data that are not covered by patents or patent applications, including technical processes,
equipment designs, algorithms and procedures. We have taken security measures to protect these elements. All of our research and
development personnel have entered into confidentiality and proprietary information agreements with us. These agreements address
intellectual property protection issues and require our employees to assign to us all of the inventions, designs and technologies
that they develop when primarily utilizing our resources or when performing their duties during their employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">While we continue to develop and pursue
patent protection for our own technologies, we expect to continue implementing third party license arrangements on certain key
aspects of our operation. For the risks associated with our reliance on certain third-party technologies, see &ldquo;Item 3. Key
Information&mdash;D. Risk Factors&mdash;Risks Relating to Our Business&mdash;We rely on third party intellectual property for certain
key aspects of our operation, which subjects us to the payment of license fees and potential disruption or delays in the production
of our products.&rdquo; In August, 2011, Chongqing Daqo entered into a Technology License and Transfer Agreement with GTAT Corporation,
a Delaware company, under which GTAT granted us a license to use its Hydrochlorination TCS Production Technology and Chlorosilane
Recovery/Waste Neutralization Technology for our current polysilicon production and future polysilicon production expansions in
both our Chongqing and Xinjiang facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Most of our equipment supply contracts with
international suppliers include an indemnification provision under which the supplier undertakes to indemnify us against actions,
claims, demands, costs, charges, and expenses arising from or incurred by reason of any infringement or alleged infringement of
patent, copyright, trade mark or trade name by the use of the equipment provided by the supplier. However, it is unclear whether
we will be entitled to such indemnification in the event that we use the equipment supplied by such supplier in conjunction with
other equipment not supplied by such supplier. In addition, many of our equipment supply contracts with China-based suppliers do
not provide any intellectual property indemnification provisions. See &ldquo;Item 3. Key Information&mdash;D. Risk Factors&mdash;Risks
Relating to Our Business&mdash;We may be exposed to infringement or misappropriation claims by third parties, which, if determined
adversely to us, could cause us to pay significant damage awards.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Competition</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We face competition in China and in the
international markets in which we have sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The photovoltaic market is dominated by
a few major manufacturers with a large number of small manufacturers competing for the remaining small portion of the market. We
face competition mainly from top manufacturers who have succeeded in establishing a strong brand name with solar companies. For
our polysilicon and wafer businesses, our major international competitors include Hemlock, Wacker, OCI, REC, MEMC, and Green Energy
Technology, and our China-based competitors include GCL-Poly, TBEA and China Silicon Corporation, among others. In addition, some
solar cell and module manufacturers have or have announced the intention of establishing polysilicon production or affiliate relationships
with manufacturers of polysilicon, including some of our customers and potential customers. We compete with these in-house capabilities,
which could limit our ability to expand our sales. Furthermore, the demand for our polysilicon may be adversely affected by alternative
technologies in cell manufacturing. The vast majority of silicon-based photovoltaic cell manufacturers currently use chunk or granular
polysilicon. However, alternative technologies are being developed in cell manufacturing. For example, one such technology, thin-film
cell production, uses little to no silicon in the production of solar cells. We believe that the solar cells made using thin-film
technologies generally tend to have lower energy conversion efficiency than silicon-based solar cells. In addition, the manufacturing
cost of silicon-based cells has been significantly reduced recently, which largely reduces or eliminates the historical cost advantage
of thin-film cells. Based on our management&rsquo;s industry knowledge, we believe silicon-based cells will remain the most widely
used solar photovoltaic cells in the near future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We believe that the key competitive factors
in the market for photovoltaic products include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>product quality;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>price and cost competitiveness;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>manufacturing technologies and efficiency;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>manufacturing reliability;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>economies of scale; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>reputation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We believe we differentiate ourselves from
our competitors and capture market share in the polysilicon markets through our product quality, price and cost competitiveness,
and manufacturing technologies and efficiency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Regulation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This section sets forth a summary of the
most significant regulations or requirements that affect our business activities in China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Renewable Energy Law and Other Government
Directives</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">China enacted the Renewable Energy Law in
February 2005 and amended the law in December 2009. The amended Renewable Energy Law sets forth the national policy to encourage
and support the development and use of solar and other renewable energy and its use for on-grid generation. The law also sets forth
the national policy to encourage the installation and use of solar technologies in water-heating systems, heating and cooling systems,
power generation systems and other energy utilization systems. In addition, the law provides financial incentives, such as national
funding, preferential loans and tax preferences for the development of renewable energy projects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In January 2006, the National Development
and Reform Commission, or the NDRC, issued two implementing rules relating to the Renewable Energy Law that, among other things,
provide general policies regarding the pricing of on-grid power generated by solar and other renewable energy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In May 2006, the Ministry of Finance issued
measures providing that the Chinese government shall provide certain government subsidies and financial incentives to support the
development of the renewable energy industry, including the solar energy industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In August 2006, the Ministry of Housing
and Urban-Rural Development (formerly the Ministry of Construction) and the Ministry of Finance also issued guidelines which sought
to expand the use of solar energy in residential buildings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In August 2007, the NDRC promulgated the
Medium and Long-Term Development Plan for the Renewable Energy Industry. This plan sets forth national policy to provide financial
allowance and preferential tax regulations for the renewable energy industry. A similar demonstration of the PRC government&rsquo;s
commitment to renewable energy was also set forth in the Eleventh Five-Year Plan for Renewable Energy Development, which was promulgated
by the NDRC in March 2008. The Outline of the Twelfth Five-Year Plan for National Economic and Social Development of the PRC, which
was approved by the National People&rsquo;s Congress in March 2011, also demonstrates a commitment to promote the development of
renewable energy to enhance the competitiveness of the renewable energy industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In March 2009, the Ministry of Finance promulgated
the Interim Measures for Administration of Government Subsidy Funds for Application of Solar Photovoltaic Technology in Building
Construction to support the development of solar photovoltaic technology in China. Local governments are encouraged to issue and
implement supporting policies. Also in March 2009, the Ministry of Finance and the Ministry of Housing and Urban-Rural Development
jointly promulgated the Implementation Opinion on Acceleration in the Application of Solar Photovoltaic Technology in Building
Construction. On March 8, 2011, the Ministry of Finance and Ministry of Housing and Urban-Rural Development jointly promulgated
the Notice on Further Application of Renewable Energy in Building Construction, which aims to raise the percentage of renewable
energy used in buildings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In July 2009, the Ministry of Finance, the
Ministry of Science and Technology and the National Energy Bureau jointly issued measures that provide for government subsidies
to support the photovoltaic industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In September 2009, the NDRC and nine other
governmental agencies jointly issued measures aimed at curtailing the perceived over-capacity in certain industry sectors, such
as steel, concrete, polysilicon and wind power equipment. Pending the promulgation of more specific regulations, the measures require
new projects after the date of the new measures in any of the deemed &ldquo;over-capacity industries&rdquo; to obtain approval
from the NDRC. The measures also provide that the Chinese government shall support polysilicon manufacturers with large manufacturing
capacities and advanced technologies. As a result, any entity which plans to establish a polysilicon manufacturing facility or
to expand its current manufacturing facility in China after the measures were issued must seek pre-approval from the NDRC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On January&nbsp;24, 2011, the NDRC issued
detailed regulations for the approval of new polysilicon construction projects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On July 24, 2011, the NDRC issued the Circular
on Improving the On-Grid Price Policy for Photovoltaic Power, which aims to stimulate the photovoltaic power industry by regulating
the price of photovoltaic power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On July 4, 2013, the General Office of the
State Council of China issued &ldquo;Several opinions on promoting healthy development of Solar PV industry&rdquo; which increased
the aggregated target for PV installations as of 2015 from the previously announced 21GW to 35GW.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On September 16, 2013, the Ministry of Industry
and Information Technology issued &ldquo;Regulatory Requirements to Solar PV manufacturing industry&rdquo; to set up specific requirements
for all sectors through the whole solar PV value chain regarding layout, scale, capacity, quality, efficiency, power consumption,
environmental control and certain other elements of PV production, in order to optimize industry layout, adjust industry structure,
modulate total capacity, encourage innovation and support PV applications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On January, 2014, the National Energy&nbsp;Administration
of China announced the PV installation target for 2014 to be 14GW, which includes 8GW for distributed PV systems and 6GW for large
scale PV power plants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Environmental and Safety Regulations</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We use, generate and discharge toxic, volatile
or otherwise hazardous chemicals and wastes in our research and development and manufacturing activities. China enacted the Environmental
Protection Law effective December 1989. In addition to the Environmental Protection Law, we are subject to a variety of specific
laws and regulations in China related to the storage, use and disposal of hazardous materials, including laws and regulations governing
water pollution, air pollution, solid waste pollution, noise pollution, hazardous chemicals, pollutant discharge fees and environmental
impact appraisals. We are also subject to laws and regulations governing worker safety, work safety permits and occupational disease
prevention. Our operation is subject to regulation and periodic monitoring by local environmental protection and work safety authorities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Foreign Currency Exchange</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Foreign currency exchange in China is primarily
governed by two sets of regulations issued in 1996.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the Foreign Exchange Administration
Rules, the Renminbi is freely convertible for routine current account items, including distribution of dividends, payment of interest,
and trade and service-related foreign exchange transactions. However, conversion of Renminbi for most capital account items, such
as direct investment, overseas loan, securities investment and repatriation of investment, is still subject to the approval of
SAFE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the Regulations of Settlement, Sale
and Payment of Foreign Exchange, foreign invested enterprises may only buy, sell and remit foreign currencies at authorized banks
and must comply with certain procedural requirements, such as providing valid commercial documents and, in the case of capital
account item transactions, obtaining approval from SAFE. Foreign invested enterprises are also subject to limitations on capital
investments outside of China, which include requirements to obtain approvals from the Ministry of Commerce, the NDRC and SAFE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Admission of Foreign Investment</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The principal regulation governing foreign
ownership of solar power businesses in the PRC is the Foreign Investment Industrial Guidance Catalogue. Under the current catalogue,
which was amended in 2013 and became effective May 1, 2013, the solar power related business is classified as an &ldquo;encouraged
foreign investment industry.&rdquo; Companies that operate in encouraged foreign investment industries and satisfy applicable statutory
requirements are eligible for preferential treatment, including exemption from customs and input value added taxes, or VAT, and
priority consideration in obtaining land use rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">SAFE Circular No.&nbsp;75</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SAFE Circular No.&nbsp;75, which became
effective as of November&nbsp;1, 2005, requires Chinese residents, including both legal persons and natural persons, to register
with their local SAFE branch before establishing or acquiring control of any company outside of China with assets or equity interests
in Chinese companies for the purpose of capital financing. Such a company outside of China is referred to as an &ldquo;offshore
special purpose company.&rdquo; Chinese residents must also file amendments to their registrations if their offshore companies
experience capital variation, such as changes in share capital, share transfers, mergers and acquisitions, long-term equity or
debt investments or creation of any security interest over any assets located in China or any other material change in share capital.
Failure to comply with the registration procedures may result in restrictions being imposed on the foreign exchange activities
of the relevant Chinese entity. See &ldquo;Item 3. Key Information&mdash;D. Risk Factors&mdash;Risks Relating to Doing Business
in China&mdash;Chinese regulations relating to offshore investment activities by Chinese residents may increase the administrative
burden we face and may subject our Chinese resident beneficial owners or employees to personal liabilities, limit our subsidiaries&rsquo;
ability to increase its registered capital or distribute profits to us, limit our ability to inject capital into our Chinese subsidiaries,
or may otherwise expose us to liability under Chinese law.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Regulations on Employee Stock Options
Plans</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In February 2012, SAFE promulgated the Notice
on the Administration of Foreign Exchange Matters for Domestic Individuals Participating in the Stock Incentive Plans of Overseas
Listed Companies, or the Stock Option Notice. According to the Stock Option Notice, a PRC domestic qualified agent or the PRC subsidiary
of such overseas listed company must file an application with SAFE or its local counterpart on behalf of PRC resident individuals
who participate in stock incentive plans of overseas publicly-listed companies to obtain approval for an annual allowance with
respect to the purchase of foreign exchange in connection with the stock holding or share option exercises. Our company is an &ldquo;overseas
publicly-listed company,&rdquo; and therefore, we and participants of our share incentive plan who are PRC individuals are subject
to these regulations. We have completed the registration for the options granted as of year end 2013 and are in the process of
submitting an application to register the options granted on 28 January, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Seasonality</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Due to our limited size, we do not expect
our operating results and operating cash flows to be subject to seasonal variations. This pattern may change, however, as a result
of growth, new market opportunities or new product introductions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>C.&#9;Organizational Structure</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following diagram illustrates our corporate
structure, including our principal subsidiaries, as of the date of this annual report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="image_011.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>Individual owners of Daqo Group beneficially hold equity interests in Daqo Cayman through nine personal holding companies incorporated
in the British Virgin Islands. See &ldquo;Item 6. Directors, Senior Management and Employees&mdash;E. Share Ownership.&rdquo;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(2)</TD><TD STYLE="text-align: justify">Indicates the respective shareholding percentage of the
shareholders in Daqo Cayman.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(3)</TD><TD STYLE="text-align: justify">Indicates jurisdiction of incorporation.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(4)</TD><TD STYLE="text-align: justify">Indicates companies within the listing group.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">D.&#9;Property, Plants and Equipment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are headquartered in Wanzhou,
Chongqing, China, where we own several buildings with approximately 50,465 square meters of office and manufacturing space in
total as of December 31, 2013. We have been granted land use rights to approximately 132,441 square meters of land on which
our plants or offices are situated, and such land use rights are usually valid for a period of fifty years starting from the
date of grant from the local government. Our Phase 2 production facilities in Xinjiang have approximately 92,340 square
meters of office and manufacturing space in total as of December 31, 2013. On January 1, 2014, we signed a five-year lease
agreement with Daqo New Materials for, among other things, office buildings and employee dormitories. In addition, we hold a
lease for approximately 398 square meters of office space in Shanghai, expected to expire in April 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In September 2012, we sold our 100% equity
interest in Nanjing Daqo to Daqo Group for a consideration of $9.9 million in order to concentrate on our core businesses of polysilicon
and wafer production.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We believe that our existing facilities,
together with our facilities under construction, are adequate for our current and foreseeable requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">See &ldquo;Item 5. Operating and Financial
Review and Prospects&mdash;B. Liquidity and Capital Resources&mdash;Capital Expenditures&rdquo; for a discussion of our capital
expenditures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Environmental and Safety Matters</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our manufacturing processes generate noise,
waste water, gaseous wastes and other industrial wastes. We believe we are in compliance with all present national and local environmental
protection requirements in all material respects and have all the necessary environmental permits to conduct our business in China.
We process all our waste water and waste gas through various treatments so that they meet the respective national discharge standard.
In addition, most of our solid waste can be reused and does not contain poisonous materials. We have established a pollution control
system and installed various types of anti-pollution equipment in our facilities to reduce, treat, and where feasible, recycle
the waste generated in our manufacturing process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are required to undergo environmental
protection and work safety acceptance inspections and obtain approval from relevant governmental authorities before our manufacturing
lines are permitted to commence full production. Our production facilities are subject to various pollution control regulations
with respect to noise and air pollution and the disposal of waste and other hazardous materials. We have obtained a pollutant discharge
permit, a work safety permit for storage and use of hazardous chemicals and a permit for the use of atmospheric pressure containers
we have installed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Insurance</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We maintain various insurance policies to
safeguard against risks and unexpected events. We purchased property insurance and project construction insurance policies covering
our inventory, equipment, vehicles, facilities, buildings and buildings under construction. These insurance policies cover losses
due to fire, explosion and a wide range of human accidents. We also provide social security insurance including pension insurance,
unemployment insurance, work-related injury insurance and medical insurance for our employees. We do not maintain business interruption
insurance or general third-party liability insurance. We also do not have product liability insurance or key-man life insurance.
See &ldquo;Item 3. Key Information&mdash;D. Risk Factors&mdash;Risks Relating to Our Business&mdash;We have limited insurance coverage.
In particular, we do not have any product liability insurance or business interruption insurance.&rdquo; We consider our insurance
coverage to be in line with that of other manufacturing companies of similar size in China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;4A. UNRESOLVED STAFF COMMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;5. OPERATING AND FINANCIAL REVIEW AND
PROSPECTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You should read the following discussion
and analysis of our financial condition and results of operations in conjunction with the historical consolidated financial statements
of our company for the years ended December&nbsp;31, 2011, 2012 and 2013 and related notes included elsewhere in this annual report
on Form 20-F. This discussion contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual
results and the timing of selected events could differ materially from those anticipated in these forward-looking statements as
a result of various factors, including those set forth under &ldquo;Risk Factors&rdquo; and elsewhere in this annual report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">A.&#9;Operating Results</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Overview</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are a leading polysilicon manufacturer
based in China with an annual production capacity of 6,150 MT as of the date of this annual report. We believe our production cost
for polysilicon is one of the lowest and our product quality is one of the best in China. We have expanded to the downstream photovoltaic
manufacturing business to establish facilities for wafer manufacturing. Our current wafer manufacturing annual capacity is 72 million
pieces. We had 100MW module production facilities in Nanjing, all of which we sold to Daqo Group in September 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We strive to improve our polysilicon
production efficiency and to increase our output through technological improvements, adoption of process innovation and
refinement, as well as equipment enhancement. As a result of these initiatives, we produced 4,524 MT polysilicon in 2011. In
2012, our polysilicon output was 3,349 MT<SUP>(1)</SUP>, which was less than 2011 due to the suspension of the Phase 1
polysilicon facilities and less than normal output in our Xinjiang facilities during the pilot production period in the
fourth quarter of 2012. In 2013, we produced 4,805 MT polysilicon which was all contributed by our Xinjiang facilities. We
conducted a &ldquo;debottlenecking&rdquo; project for our Xinjiang facilities and successfully completed the project and
started pilot production in December 2013. We expect to fully realize capacity of 6,150&nbsp;MT and lower production costs to
the level of $14 per kg when the newly added capacity is fully ramped up. We plan to further increase the capacity in our
Xinjiang facilities to 12,150 MT through a capacity expansion project which includes relocating machinery and equipment from
the Phase 1 polysilicon facilities and is expected to be completed by the end of 2014. We also plan to upgrade our off-gas
treatment process from traditional Hydrogenation technology to Hydrochlorination technology. Simultaneous with our 2014
annual maintenance, we will prepare our Xinjiang facilities for expansion. We currently sell polysilicon to China-based
photovoltaic product manufacturers. The majority of our sales are made under framework contracts, with the prices to be
determined at the time when specific sales orders are made. As of December 31, 2013, our major photovoltaic product customers
included operating entities of Jiangsu Meike Silicon Energy, Zhenjiang Daqo Solar, Hanwha SolarOne, JinkoSolar and
EGing PV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have expanded to the downstream photovoltaic
manufacturing business to establish facilities for wafer manufacturing. Our Phase 1a wafer manufacturing facilities in Chongqing
commenced commercial production with an annual capacity of 36 million pieces in July 2011. We gradually increased the utilization
rate of our wafer facilities in 2013 and successfully expanded the capacity to 72 million pieces in November 2013. We plan to adopt
several technical improvements in 2014 including a slurry recovery system which will enable further cost reductions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have achieved substantial growth since
we commenced commercial production of polysilicon in July 2008, though we experienced a significant downturn in terms of revenue
and net income in 2012. In 2013, with the recovery of the solar PV market, we achieved an increase of 25.5% in our revenues compared
to 2012. Our gross margin also improved from negative 43.1% in 2012 to negative 23.9% in 2013. We produced 4,524 MT, 3,349 MT<SUP>(1)
</SUP>and 4,805 MT of polysilicon and sold 3,947 MT<SUP>(3)</SUP>, 3,262 MT<SUP>(2)(3)</SUP> and 4,283 MT<SUP>(3)</SUP> in 2011,
2012 and 2013, respectively. We generated revenues from continuing operations of $232.2 million, $86.9 million and $109.0 million
in 2011, 2012 and 2013, respectively. We achieved net income attributable to Daqo New Energy Corp. shareholders of $33.3 million
in 2011. We incurred net losses attributable to Daqo New Energy Corp. shareholders of $111.9 million and $70.9 million in 2012
and 2013 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Note:<BR></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&#9;Excluding 617 MT polysilicon produced in Xinjiang facilities during the pilot production period.<BR>
(2)&#9;Excluding 323 MT polysilicon sold from Xinjiang facilities during the pilot production period.<BR>
(3) &#9;The polysilicon sales volume here only refers to the external sales. The internal sales to our in-house wafer facilities
were 454 MT, 315 MT and 770 MT in 2011, 2012 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Key Factors Affecting Our Results of Operations</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following are key factors that affect
our financial condition and results of operations and are important for understanding our business:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>demand for photovoltaic products, including government incentives to promote the usage of solar energy;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>product prices;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our product mix;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our production capacity and utilization; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our production costs, and in particular the cost of electricity.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Demand for photovoltaic products</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our business and revenue growth are, in
part, dependent on the demand for photovoltaic products. The photovoltaic industry remains at a relatively early stage of development
and it is uncertain whether solar energy will be widely adopted. Although demand for photovoltaic products has grown significantly
over the past decade, the global economic slowdown and turmoil in the global financial markets, especially the European sovereign
debt crisis that unfolded in 2010 and continued through 2013, coupled with rapid declines in petroleum and natural gas prices,
have made solar energy less cost competitive and less attractive as an alternative source of energy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Demand for photovoltaic products is driven,
in part, by government incentives that make the economic cost of solar power competitive with the cost of traditional and other
forms of energy. We believe that the near-term growth of the market for solar energy applications depends in large part on the
availability and size of government subsidies and economic incentives. Reduction in or elimination of government subsidies and
economic incentives may hinder the growth of this market or result in lower sales prices for solar energy products, which could
cause our revenues to decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Global solar PV installations in 2013 totaled
around 36.5 GW, which represents a 16% increase compared to 31.4 GW in 2012. Although the European markets shrank significantly
due to subsidy cuts in major markets like Germany, Italy and Spain, the markets in China, Japan and the US took over the leading
positions as the three biggest markets for solar PV in 2013. Currently most of the analyst reports forecast that global solar PV
installations in 2014 will be in the range of 42~45 GW, which represents growth of 15%~23%. On the premise that the global market
grows as expected and there will not be significant new supply being added into the market in 2014, we believe the average selling
price for polysilicon will be strongly supported by demand in the range of $20 per kg to $25 per kg.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Product prices</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The sales prices of our photovoltaic
products are volatile and cannot always be predicted with certainty. Our sales prices declined from mid-2008 to the middle of
2010 due to industry-wide excess supply but stabilized in the third quarter of 2010 and increased marginally in the fourth
quarter of 2010 due to end market demand. In 2011 our sales prices declined rapidly in the fourth quarter primarily due to
excess supply in the market. The decline in sales prices continued throughout 2012. Our sales prices started to recover
through 2013 due to improved demand and reduced inventory levels. The decline in the market price of polysilicon resulted in
an approximately 7% decrease in the average selling price of our polysilicon from 2010 to 2011, a further 59.3% decrease from
2011 to 2012 and a further 23.3% decrease from 2012 to 2013. The market prices for polysilicon and wafer have improved
significantly through 2013, albeit not sufficiently to reverse the year-on-year average decrease, into early 2014. For
example, the average selling price for our polysilicon increased by 17.1% from January 2013 to December 2013. Our gross
margin from continuing operations decreased from 42.8% in 2010 to 37.6% in 2011 and further decreased to negative 43.1% in
2012. In 2013, our gross margin from continuing operations improved to negative 23.9%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Company&rsquo;s polysilicon average selling prices
vs. average spot prices* (VAT excluded):</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><IMG SRC="image_003.jpg" ALT="" STYLE="height: 165.75pt; width: 416.25pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">* Average spot prices are monthly averages
based on PVinsights &ldquo;PV Poly Silicon Weekly Spot Price&rdquo; data.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Product mix</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The proportion of our revenues that are
generated from the sales of other photovoltaic products, also referred to as product mix, affects our revenues and profitability.
In addition to the revenues generated from sales of polysilicon, we also generated revenues from other products. In 2010, we generated
revenues from sales of modules and wafers and we processed wafers through tolling arrangements with third party wafer manufacturers.
In 2011, we generated revenues from sales of wafers and modules we produced in our facilities. In 2012, we generated revenue from
sales of modules for the first three quarters of the year before we sold 100% of our equity interests of Nanjing Daqo, and we also
generated revenue from sales of wafers produced in our facilities. For the year ended December 31, 2013, the revenues we generated
from our two segments included sales of polysilicon and wafers, which accounted for 70.4% and 29.6% of our total revenues from
continuing operations, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Our production capacity and utilization</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the near future, we plan to continue
to focus on our core businesses to further improve our operation efficiency, cost structure and products quality by expanding our
capacity, adopting new technologies and optimizing the manufacturing processes. For our polysilicon business, we ramped up production
at the Phase 1b facilities to their full annual capacity of 1,800 MT in 2010. We expanded the aggregate capacity of our Phase 1a
and Phase 1b facilities to 4,300 MT through a capital enhancement project in 2011. In September 2012, we halted the production
of polysilicon in our Phase 1a and 1b facilities in Chongqing and ultimately determined to cease production in the second quarter
of 2013. In September 2012, we successfully completed our Xinjiang Phase 2a facilities. Currently our annual capacity in Xinjiang
Phase 2a for polysilicon is 6,150&nbsp;MT. We plan to further increase the capacity to 12,150 MT by the end of 2014 and fully ramp
up capacity in the second quarter of 2015. For our wafer business, the Phase 1a wafer manufacturing facilities in Chongqing commenced
commercial production in July 2011 and reached the current capacity of 36 million pieces in November 2011. We gradually increased
the utilization rate of our wafer facilities in 2013 and successfully expanded the capacity to 72 million pieces in November 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Our production costs</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our polysilicon production
costs consist primarily of the costs of electricity and other utilities, raw materials, labor and depreciation.
Currently electricity is the largest component of our polysilicon production costs. In our Phase 2 facilities in Xinjiang,
because of the abundant coal resources, the local electricity rate is much lower than that in most areas in China. This cost
advantage, along with our operational expertise, enables us to become one of the lowest cost producers around the globe. Our
wafer production costs consist primarily of the costs of polysilicon, other raw materials, labor and depreciation. We plan
to implement additional measures to reduce our production costs through technology, process and equipment improvement.
For example, we are conducting a capacity expansion project in our Xinjiang polysilicon facilities to increase our capacity
from 6,150 MT to 12,150&nbsp;MT. We also plan to upgrade our off-gas treatment process from traditional Hydrogenation
technology to Hydrochlorination technology. Simultaneously with our 2014 annual maintenance, we will prepare our Xinjiang
facilities for expansion. We expect to lower the production cost to the level of $12 per kg when we fully ramp up capacity.
We also plan to adopt several technical improvements in 2014 including slurry recovery system which will enable us for
further cost reduction. Effective cost-reduction measures will have a direct impact on our financial condition and results
of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Indicative polysilicon production cost breakdown:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><IMG SRC="image_004.jpg" ALT="" STYLE="height: 244.5pt; width: 297.75pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Components of Results of Operations</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Revenues</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our revenues are primarily derived from
the sale of polysilicon and secondarily by the sale of wafers. In 2011, the revenues generated from sales of polysilicon and wafers
accounted for 94.3% and 5.7% of our total revenues, respectively. In 2012, the revenues we generated from the sales of polysilicon
and wafers accounted for 84.6% and 15.4% of our total revenues from continuing operations, respectively. In 2013, the revenues
we generated from the sales of polysilicon and wafers accounted for 70.4% and 29.6% of our total revenues from continuing operations,
respectively. The percentage increase of the sales of wafers reflected improvements in the utilization rate and capacity of our
wafer facilities. We plan to continue to focus on our current businesses to further improve operation efficiency, cost structure
and product quality. If we are successful in executing our expansion plans, we expect our polysilicon revenue to grow in relation
to our total consolidated revenues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We commenced polysilicon production in
2008. We produced 4,524 MT, 3,349 MT<SUP>(1)</SUP> and 4,805 MT of polysilicon and sold 3,947 MT<SUP>(3)</SUP>, 3,262
MT<SUP>(2)(3)</SUP> and 4,823 MT<SUP>(3)</SUP> of polysilicon in 2011, 2012 and 2013, respectively. We used approximately
54.9 MT of polysilicon to process cells through our tolling arrangements in 2011. We did not have such business arrangements
in 2012 and 2013. Our polysilicon selling prices are directly affected by global supply and demand conditions. Due to the
global oversupply of polysilicon since late 2008 and the resulting pricing pressure, the average selling price of our
polysilicon decreased by 7% in 2011 as compared to 2010, further decreased by 59.3% in 2012 as compared to 2011 and further
decreased by 23.3% in 2013 as compared to 2012. In the fourth quarter of 2012, the sales prices for polysilicon and wafer
both started to recover from historical lows due to improved demand and reduced inventory levels, and have continued to do so
through early 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We generated revenues of $232.2 million,
$86.9<SUP>(2)</SUP> million and $109.0 million from continuing operations in 2011, 2012 and 2013, respectively. We achieved net
income attributable to our shareholders of $33.3 million in 2011. We incurred net losses attributable to our shareholders of $111.9
million and $70.9 million in 2012 and 2013 respectively. In 2011, our revenues from continuing operations included $218.9 million
generated from sales of polysilicon and $13.2 million generated from sales of wafers. In 2012, our revenues from continuing operations
included $73.5 million generated from sales of polysilicon and $13.4 million generated from sales of wafers. In 2013, our revenues
from continuing operations included $76.7 million generated from sales of polysilicon and $32.3 million generated from sales of
wafers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have entered into framework agreements
with some of our customers. These contracts typically contain binding terms related to the sales volumes of our photovoltaic products
during the contract term. The pricing terms are typically agreed upon between us and our customers based on the prevailing market
prices when specific sales orders are placed. Such pricing determination method has caused, and is expected to continue to cause,
fluctuations in our revenues and results of operations. During 2011, our top three customers, Tianwei New Energy, Hanwha SolarOne
and Yingli Green Energy, accounted for approximately 14.2%, 12.3% and 12.2% of our total revenues, respectively, and the three
customers in aggregate accounted for approximately 38.7% of our total revenues. In 2012, our top three customers, Yingli Green
Energy, Solargiga and Jiangxi Sornid, accounted for approximately 25.0%, 8.6% and 7.3% of our total revenues, respectively, and
the three customers in aggregate accounted for approximately 40.9% of our total revenues. In 2013, our top three customers, Jiangsu
Meike Silicon Energy, Zhenjiang Daqo and Hanwha SolarOne , accounted for approximately 18.0%, 12.4% and 8.1% of our total revenues,
respectively, and the three customers in aggregate accounted for approximately 38.5% of our total revenues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notes:<BR>
(1)&#9;Excluding 617 MT polysilicon produced in Xinjiang facilities during the pilot production period.<BR>
(2)&#9;Excluding 323 MT polysilicon sold from Xinjiang facilities during the pilot production period.<BR>
(3)&#9;The polysilicon sales volume here only refers to the external sales. The internal sales to our in-house wafer facilities
were 454 MT, 315 MT and 770 MT in 2011, 2012 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Cost of revenues</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our cost of revenues primarily consists
of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>depreciation of property, plant and equipment;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>electricity and other utilities, such as steam, water and natural gas;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>raw materials, including metallurgical grade silicon, liquid chlorine, nitrogen, calcium oxide and hydrogen;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>direct labor, including salaries and benefits for personnel directly involved in production activities; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>processing fees paid to wafer and cell manufacturers pursuant to tolling arrangements.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Due to our capacity expansion, depreciation
in absolute terms has increased significantly. This trend will continue if we further expand our polysilicon production capacity
or conduct technology improvement as we currently plan to do. We also expect that our total cost of revenues will increase as we
increase our sales volume.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Operating expenses/income</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our operating expenses include selling,
general and administrative expenses and research and development expenses, which are partially offset by other operating income
as described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Selling, general and administrative expenses</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our selling, general and administrative
expenses consist primarily of salaries and benefits for our administrative, finance and sales personnel, packaging and shipping
costs, sales-related travel and entertainment expenses, other travel and corporate expenses, depreciation of equipment used for
administrative purposes and professional expenses. All costs in connection with start-up activities, including costs incurred prior
to commencement of production and corporate formation costs of Daqo Cayman, were expensed as incurred. We expect that the amount
of our selling, general and administrative expenses will increase as we expand our polysilicon production capacity, increase our
sales efforts, hire additional personnel, and incur professional expenses to support our operations as a listed company in the
United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Research and development expenses</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our research and development expenses consist
primarily of costs of raw materials used in research and development activities, salaries and employee benefits for research and
development personnel, and equipment costs relating to the design, development, testing and enhancement of our production process.
We expect our research and development expenses to increase in the future as we continue to hire additional research and development
personnel and focus on improvement of process technologies for our products, and expand our polysilicon manufacturing business.
In the fourth quarter of 2012, we incurred additional research and development expenses for our Xinjiang Phase 2 polysilicon facilities
to achieve the targets for product quality, capacity and cost during the pilot production period, which are not expected to recur.
Our research and development expenses in 2013 primarily resulted from continuous technology improvement projects for polysilicon
and wafer production.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Other operating income</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our other operating income reflects government
subsidies that we receive from time to time, including financial incentives from Chongqing and Xinjiang local government. We record
government subsidies as other operating income when we receive them. The amount and timing of subsidies cannot be predicted with
certainty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Fixed asset impairment loss</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We recognized $34.7 million and $42.8 million
of impairment loss for the long-lived assets of our wafer facilities in 2011 and 2012 respectively. We recognized $158.4 million
of impairment loss for the long-lived assets of our wafer facilities in 2013. The impairment loss of long-lived assets of our wafer
and polysilicon facilities reflects the impact of year-on-year market challenges and in particular reductions in average selling
prices of our products described above, without similar reductions in costs of production, that have had an adverse effect on the
profit-generating ability of these assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Interest income and expense</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our interest income represents interest
on our cash balances. Our interest expenses relate primarily to our short-term and long-term borrowings from banks, less capitalized
interest expenses to the extent they relate to our capital expenditures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Taxation</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">Cayman Islands tax</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are an exempted company incorporated
in the Cayman Islands and are not subject to tax in this jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">PRC tax</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our Chinese subsidiaries are foreign invested
enterprises in China. Under the EIT Law which took effect as of January 1, 2008, the Chinese enterprise income tax rate is 25%.
However, qualified enterprises located in central or western China may enjoy preferential tax rate under a series of national policies
adopted to encourage investment in central and western China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the EIT Law, an enterprise established
outside of China with its &ldquo;de facto management bodies&rdquo; within China may be considered a resident enterprise for Chinese
tax purposes and be subject to the enterprise income tax at the rate of 25% on its global income. The implementation rules of the
EIT Law provide that the term &ldquo;de facto management bodies&rdquo; refers to management bodies which have material management
and control over all aspects of the business, including production, operations, personnel, finance, and assets. It is unclear whether
Chinese tax authorities would determine that, notwithstanding our status as the Cayman Islands holding company of our operating
business in China, we should be classified as a resident enterprise. Currently, substantially all of our income is already China-source
income subject to Chinese taxes. However, a portion of the net proceeds received from our initial public offering were deposited
into interest bearing bank accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Chongqing Daqo, our wholly owned Chinese
subsidiary and a foreign-invested enterprise established in the central and western region in China, is entitled to a preferential
income tax rate of 15% from the date of its establishment to December&nbsp;31, 2010. Chongqing Daqo is qualified as a &ldquo;Chongqing
Municipality High and New Technology Enterprise,&rdquo; which entitles it to a preferential income tax rate of 15%. Chongqing Daqo
received its first qualification in November 2009 for a three-year period. The status was renewed in November 2012 for an additional
three years until November 2015 and the status can be renewed for additional three-year terms upon Chongqing Daqo&rsquo;s application
and the government&rsquo;s approval. Xinjiang Daqo is in the process of applying for &ldquo;High and New Technology Enterprise&rdquo;
status, which entitles it to enjoy the preferential income tax rate of 15%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Daqo New Material, formerly our consolidated
variable interest entity and a domestic Chinese enterprise, was, during 2013, subject to an income tax rate of 25%. Starting from
December 31, 2013, Daqo New Material was de-consolidated from the balance sheet as of December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the EIT Law and implementation regulations
issued by the State Council of China, dividends, interests, rent, royalties and gains on transfers of property payable by a foreign-invested
enterprise in China to its foreign investor who is a non-resident enterprise will be subject to a 10% withholding tax, unless such
non-resident enterprise&rsquo;s jurisdiction of incorporation has a tax treaty with China that provides for a reduced rate of withholding
tax and such non-resident enterprise is the beneficial owner of the dividends, interests, rent, royalties and gains on transfers
of property. The Cayman Islands, where Daqo Cayman is incorporated, does not have such a tax treaty with China. However, we intend
to reinvest all of Chongqing Daqo&rsquo;s undistributed earnings into our capacity expansion and/or technology improvement and
do not plan to distribute any of the earnings as dividends in the foreseeable future and, accordingly, we have not set aside provision
for Chinese dividend withholding tax. If we do distribute these earnings in the form of dividends, we will be subject to the withholding
tax at a rate of 10%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the Interim Regulations on Value
Added Tax and their implementation rules, all entities and individuals that are engaged in the sale of goods, the provision of
repairs and replacement services or the importation of goods in China are generally required to pay value-added tax, or VAT, at
a rate of 17% of the gross sales proceeds received, less any deductible VAT already paid or borne by the taxpayer. When exporting
certain goods, excluding polysilicon currently, the exporter is entitled to VAT refund, which amount will be a portion of or all
of the VAT that it has already paid or borne. For our sales of polysilicon products, we are subject to the 17% VAT without any
VAT refunds for such sales.<FONT STYLE="font-size: 10pt"> </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Critical Accounting Policies</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We prepare our consolidated financial statements
in accordance with U.S. GAAP, which requires us to make judgments, estimates and assumptions that affect (1)&nbsp;the reported
amounts of assets and liabilities, (2)&nbsp;disclosure of contingent assets and liabilities at the end of each reporting period,
and (3)&nbsp;the reported amounts of revenues and expenses during each reporting period. We continually evaluate these estimates
and assumptions based on historical experience, knowledge and assessment of current business and other conditions, and expectations
regarding the future based on available information and reasonable assumptions, which together form a basis for making judgments
about matters not readily apparent from other sources. Since the use of estimates is an integral component of the financial reporting
process, actual results could differ from those estimates. Some of our accounting policies require higher degrees of judgment than
others in their application. When reviewing our financial statements, you should consider (1)&nbsp;our selection of critical accounting
policies, (2)&nbsp;the judgment and other uncertainties affecting the application of such policies, and (3)&nbsp;the sensitivity
of reported results to changes in conditions and assumptions. We consider the policies discussed below to be critical to an understanding
of our financial statements as their application places the most significant demands on the judgment of our management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Revenue recognition</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We generate revenues primarily from the
sale of polysilicon and wafer and recognize revenues when all of the following conditions are met: persuasive evidence of an arrangement
exists, the sales price is fixed and determinable, delivery of the products has occurred, title and risk of loss have transferred
to customers and collectability of receivable is reasonably assured. Our polysilicon sales agreements with our customers typically
do not contain product warranties except for return and replacement of defective products within a period ranging from 3 to 30
days from delivery. In addition, our agreements do not contain post-shipment obligations or any other return or credit provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A majority of our sales contracts provide
that title and risk of loss related to the products are transferred to our customers upon receipt. We may extend credit terms to
our customers after assessing a number of factors to determine their credit worthiness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Allowance for doubtful accounts</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We conduct credit reviews for customers
to whom we extend credit terms. We estimate the amount of accounts receivable that may not be collected based on the aging of our
accounts receivable and specific evidence relating to the financial condition of our customers that may affect their ability to
pay their balances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Impairment of long-lived assets</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We evaluate our long-lived assets and finite-lived
intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group
may not be recoverable. Factors that we consider in deciding when to perform an impairment review include, but are not limited
to significant under-performance of a business or product line in relation to expectations, significant negative industry or economic
trends, and significant changes or planned changes in the use of the assets. An impairment analysis is performed at the lowest
level of identifiable independent cash flows for an asset or asset group. We make subjective judgments in determining the independent
cash flows that can be related to a specific asset group based on the asset usage model and manufacturing capabilities. We measure
the recoverability of assets that will continue to be used in the operations by comparing the carrying value of the asset group
to the estimate of the related total future undiscounted cash flows. If an asset group&rsquo;s carrying value is not recoverable
through the related undiscounted cash flows, the impairment loss is measured by comparing the difference between the asset group&rsquo;s
carrying value and its fair value. We determine the fair value of an asset or asset group utilizing estimated future discounted
cash flows and incorporate assumptions that it believes marketplace participants would utilize. The impairment charges for the
years ended December&nbsp;31, 2011, 2012 and 2013 were $34.7 million (among which $3.8 million was included in loss from discontinued
operations), $42.8 million and $158.4 million, respectively. The impairment loss incurred in fiscal year 2012 was related to the
impairment of long-lived assets of the wafer business, and was triggered primarily by the significant decrease in average selling
prices for wafers that was experienced in 2012. In 2013, the impairment loss was related to the impairment of long-lived assets
of the polysilicon facilities in Chongqing. As a result of certain difficulties in obtaining the planned reductions in cost at
the Phase 1 polysilicon facilities, combined with the plan to expand capacity at our Xinjiang plant, we concluded that the best
course of action was to (i) cease production at the Phase 1 polysilicon facilities, after which we incurred an impairment charge
of $158.4 million in the second quarter of 2013 and (ii) relocate machinery and equipment from the Phase 1 polysilicon facilities
to Xinjiang.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Share-based compensation expenses</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October&nbsp;31, 2009, we granted options
to purchase a total of 5,350,000 ordinary shares to our officers, directors, employees and consultants pursuant to our 2009 share
incentive plan. The original exercise price of all of the options was $1.38 per share, which was re-priced to $0.25 per share on
April&nbsp;3, 2013 with the approval of our board of directors. Twenty-five percent of the ordinary shares subject to the options
will vest one year following the grant date, and the remaining seventy-five percent of the ordinary shares subject to the option
will vest in 36 equal monthly installments over the next three years. We did not grant any options or other equity incentives to
any officer, director, employee or consultant before October 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October&nbsp;6, 2010, we granted options
to acquire 120,000 ordinary shares to independent directors pursuant to the 2009 Plan. Thirty percent (30%)&nbsp;of the ordinary
shares subject to the 2009 Plan will vest one year following the grant date, thirty percent (30%)&nbsp;of the ordinary shares subject
to the 2009 Plan will vest on the second year anniversary of the grant date, and the remaining forty percent (40%)&nbsp;of the
ordinary shares subject to the 2009 Plan will vest on the third year anniversary of the grant date. These options were granted
in anticipation of services to be provided during the respective service periods. The original exercise price of these options
was $1.90 per share which was re-priced to $0.25 per share on April&nbsp;3, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On December&nbsp;3, 2010, we granted options
to acquire 2,190,000 ordinary shares to certain officers, directors and employees pursuant to the 2009 Plan. The ordinary shares
subject to the 2009 Plan will vest in four equal annual installments, with the first installment vesting one year following the
grant date. These options were granted in anticipation of services to be provided during the respective service periods. The original
exercise price of these options was $2.35 per share which was re-priced to $0.25 per share on April&nbsp;3, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On January&nbsp;9, 2012, we granted options
to acquire 1,190,000 ordinary shares to certain independent directors, officers and employees pursuant to the 2009 Plan. For the
independent directors, thirty percent (30%)&nbsp;of the ordinary shares subject to the 2009 Plan will vest one year following the
grant date, thirty percent (30%)&nbsp;of the ordinary shares subject to the 2009 Plan will vest on the second year anniversary
of the grant date, and the remaining forty percent (40%)&nbsp;of the ordinary shares subject to the 2009 Plan will vest on the
third year anniversary of the grant date. For the officers and employees, twenty-five percent (25%)&nbsp;of the ordinary shares
subject to the options will vest one year following the grant date, and the remaining seventy-five percent (75%)&nbsp;of the ordinary
shares subject to the option will vest in 36 equal monthly installments over the next three years. These options were granted in
anticipation of services to be provided during the respective service periods. The original exercise price was $0.42 per share,
which was re-priced to $0.25 per share on April&nbsp;3, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On April&nbsp;3, 2013, we granted options
to acquire 140,000 ordinary shares to a certain independent director pursuant to the 2009 Plan. The exercise price is $0.25 per
share. Thirty percent (30%) of the ordinary shares subject to the 2009 Plan vested as of December 24, 2013, another thirty percent
(30%) will vest as of 24&nbsp;December 2014, and the remaining forty percent (40%) will vest as of December 24, 2015. These options
were granted in anticipation of services to be provided during the respective service periods. The exercise price is $0.25 per
share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On January 28, 2014, we granted options
to acquire 6,274,166 ordinary shares to certain officers, directors and employees pursuant to the 2009 Plan. For the independent
directors, twenty five percent (25%)&nbsp;of the ordinary shares subject to the 2009 Plan will vest 6 months following the grant
date, twenty five percent (25%)&nbsp;of the ordinary shares subject to the 2009 Plan will vest one year following the grant date,
and the remaining fifty percent (50%)&nbsp;of the ordinary shares subject to the 2009 Plan will vest in 24 equal monthly installments
over the next two years. For the officers and employees, twenty-five percent (25%)&nbsp;of the ordinary shares subject to the options
will vest 6 months following the grant date, twenty five percent (25%)&nbsp;of the ordinary shares subject to the 2009 Plan will
vest one year following the grant date, and the remaining fifty percent (50%)&nbsp;of the ordinary shares subject to the 2009 Plan
will vest in 36 equal monthly installments over the next three years. These options were granted in anticipation of services to
be provided during the respective service periods. The exercise price of these options is $1.49 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of the end of 2013, a total of 1,436,663
options have been forfeited due to grantees&rsquo; departure from our company and a total of 631,687 options have expired.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We recognize share-based compensation in
the statement of operations based on the fair value of equity awards on the date of the grant, with compensation expense recognized
over the period in which the grantee is required to provide service to us in exchange for the equity award. We have made an estimate
of expected forfeiture and is recognizing compensation costs only for those equity awards to vest. The share-based compensation
expenses have been classified as either selling, general and administrative expenses or research and development expenses, depending
on the job functions of the grantees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">With respect to options granted on
October&nbsp;6, 2010, December&nbsp;3, 2010, January 9, 2012, April 3, 2013 and January 28, 2014, we estimated the fair value
of share options granted using the binomial option pricing model with the assistance of the independent appraiser, which
requires the input of highly subjective assumptions, including the expected life of the share options, estimated forfeitures
and the price volatility of the underlying shares. The assumptions used in calculating the fair value of share options
represent management&rsquo;s best estimates. As a result, if factors change and we use different assumptions, our share-based
compensation expense could be materially different in the future. In addition, we estimate our expected forfeiture rate and
recognize the expense only for those shares expected to vest. These estimates are based on past employee-retention rates. We
will prospectively revise our estimated forfeiture rates based on actual history. Our compensation expense may change based
on changes to our actual forfeitures of these share options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Results of Operations</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth a summary
of our consolidated statements of operations for the periods. Our historical results presented below are not necessarily indicative
of the results that may be expected for any future period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Year Ended December 31,</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in; width: 61%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 10%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2011</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 10%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2012</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 10%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2013</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Revenues</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Polysilicon&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">218,915,487</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">73,450,807</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">76,721,105</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Wafers&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13,254,092</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13,407,594</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">32,278,700</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total revenue&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">232,169,579</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">86,858,401</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">108,999,805</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cost of revenues&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(144,946,025</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(124,290,384</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(135,103,408</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Gross profit (loss)&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">87,223,554</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(37,431,983</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(26,103,603</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Operating expenses/income:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Selling, general and administrative expenses&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(13,088,538</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(12,930,198</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(18,132,515</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Research and development expenses&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(744,322</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(4,130,533</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3,391,012</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other operating income&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12,029,030</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8,729,301</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5,420,777</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Long-lived asset impairment&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(34,667,577</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(42,754,481</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(158,424,827</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total operating expenses&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(36,471,407</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(51,085,911</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(174,527,577</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Income (loss) from operations&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">50,752,147</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(88,517,894</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(200,631,180</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Interest expense&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(9,258,296</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(15,408,023</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(19,349,190</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Exchange gain (loss)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">148,676</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(55,800</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11,875</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Interest income&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,846,956</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">990,117</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">149,752</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Income (loss) before income taxes&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">43,489,483</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(102,991,600</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(219,818,743</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Income tax expense&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2,717,561</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(10,253,587</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1,271,765</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net income (loss) from continuing operations&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">40,771,922</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(113,245,187</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(221,090,508</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total income (loss) from discontinued operation&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(5,857,810</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2,392,228</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net income&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">34,914,112</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(115,637,415</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(221,090,508</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net income (loss) attributable to noncontrolling interest&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,590,160</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3,708,474</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(150,147,024</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net income (loss) attributable to Daqo New Energy Corp.&rsquo;s shareholders&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">33,323,952</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(111,928,941</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(70,943,484</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Year Ended December&nbsp;31, 2013 Compared
to Year Ended December&nbsp;31, 2012 for Continuing Operations</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Total revenues</I>. Our total revenues
increased by 25.5% from $86.9 million in 2012 to $109.0 million in 2013. The increase in total revenues was primarily attributable
to higher sales volumes in both polysilicon and wafers, partially offset by lower average selling prices primarily at the beginning
of the year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Revenue from Polysilicon.</I> The revenue
derived from polysilicon increased from $73.5 million in 2012 to $76.7 million in 2013. The improvement was primarily due to higher
sales volumes that were partially offset by lower selling prices. In 2012, the polysilicon sold was mostly contributed by the Phase
1 polysilicon facilities, which halted production from September 2012 for maintenance and technology improvement projects. In September
2012, we started pilot production in our Xinjiang polysilicon facilities and fully ramped up capacity in March 2013. The polysilicon
sold in 2013 was mostly contributed by our Xinjiang facilities. Although the average selling price for our polysilicon in 2013
was still lower than 2012, the average selling price of our polysilicon increased in the second half of the year relative to the
first half, and achieved an overall increase of 17.1% from January 2013 to December 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Revenue from Wafers. </I>The revenues
derived from the sales of wafers increased from $13.4 million in 2012 to $32.3 million in 2013, primarily due to higher sales volume
partially offset by lower selling prices. Our wafer utilization rate also improved significantly in 2013 compared to 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Total Cost of revenues</I>. Our cost
of revenues increased by 8.7% from $124.3 million in 2012 to $135.1 million in 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Cost of revenue from Polysilicon.</I>
The cost of our polysilicon revenue was $85.5 million in 2013. Although our polysilicon production volume increased by 43.5% in
2013 compared to 2012, our cost of polysilicon decreased by 17.9% compared to $104.2 million in 2012 due to our cost reduction
effort in our Xinjiang facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Cost of revenue from Wafers.</I> The
cost of our wafers revenue increased by 146.8% from $20.1 million in 2012 to $49.6 million in 2013. The increase was primarily
due to much higher production volume in 2013 combined with lower unit production cost. In November 2013, we fully ramped up our
wafer facilities to a capacity of 72 million pieces per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Gross loss</I>. We had a gross loss of
$26.1 million in 2013, compared to $37.4 million in 2012. Our gross margin was negative 23.9% in 2013, compared to negative 43.1%
in 2012. The improvement in gross loss and gross margin from 2012 was primarily due to improved cost structures in polysilicon,
partially offset by lower average selling prices. In 2013, our gross margin improved quarter by quarter. The gross margin was negative
89.0%, negative 36.7%, negative 13.3% and positive 2.6% in the first, second, third and fourth quarters of 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Gross loss from Polysilicon. </I>Our
polysilicon business had a gross loss of $8.8 million in 2013, compared to $30.7 million in 2012. Our polysilicon business&rsquo;s
gross margin was negative 11.5% in 2013, compared to negative 41.8% in 2012. The improvement in gross loss and gross margin from
2012 was primarily due to improved cost structures, partially offset by lower average selling prices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Gross loss from Wafers. </I>Our wafer
business had a gross loss of $17.3 million in 2013, compared to $6.7 million in 2012. Our wafer business&rsquo;s gross margin was
negative 53.6% in 2013, compared to negative 50.0% in 2012. Although we reduced production costs in 2013 compare do 2012, our reduced
costs were not sufficient to reverse the impact of the year-on-year decrease of average selling price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Selling, general and administrative expenses.</I>
<FONT STYLE="font-family: Times New Roman, Times, Serif"> </FONT>Our selling, general and administrative expenses were $18.1 million
in 2013, compared to $12.9 million in 2012. The increase in selling, general and administrative expenses was primarily due to increased
provisions for bad debts. In 2013, we only shipped polysilicon after we received payment from our customers. Therefore there was
no additional bad debt related to polysilicon sales in 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Research and development expenses.</I>
Our research and development expenses decreased from $4.1 million in 2012 to $3.4 million in 2013, and decreased as a percentage
of total revenues from 4.7% in 2012 to 3.1% in 2013. In 2012, we incurred additional research and development expenses for our
Xinjiang Phase 2a polysilicon facilities to achieve our targets for quality, capacity and cost during the pilot production period,
which are not expected to recur. The research and development expenses in 2013 primarily resulted from continuous technology improvement
projects for polysilicon and wafer production.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Fixed asset impairment loss</I>. The
Company recognized a $158.4 million impairment loss for the long-lived assets of its Chongqing polysilicon facilities in the second
quarter of 2013. The impairment loss of long-lived assets of our polysilicon facilities was made to reflect the adverse effects
market challenges had on the profit-generating ability of the assets. The Company recognized a $42.8 million impairment loss for
the long-lived assets of its wafer facilities in the fourth quarter of 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Other operating income</I>. Other operating
income decreased from $8.7 million in 2012 to $5.4 million in 2013, which mainly consisted of unrestricted cash incentives that
we received from local government authorities, which fluctuates from period to period at the discretion of the government.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Interest expense and income</I>. Our
net interest expenses increased from $14.4 million in 2012 to $19.2 million in 2013. The increase from 2012 was primarily due to
a decrease in capitalized interest expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Income tax expense</I>. Our income tax
expenses were $1.3 million in 2013, compared to $10.3 million for 2012. In consideration of the uncertainty in the solar market,
we determined it was more likely than not that our deferred tax assets would not be utilized before they expire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Net income (loss) attributable to our
shareholders</I>. As a result of the factors described above, we had net loss attributable to our shareholders of $70.9 million,
compared to net loss attributable to our shareholders of $111.9 million for 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Year Ended December&nbsp;31, 2012 Compared
to Year Ended December&nbsp;31, 2011 for Continuing Operations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Total revenues</I>. Our total revenues
decreased by 62.6% from $232.2 million in 2011 to $86.9 million in 2012. The decrease in total revenues was primarily attributable
to precipitous fall of the sales price of our polysilicon throughout 2012. The revenues derived from wafer sales increased from
$13.3 million in 2011 to $13.4 million in 2012, which was primarily due to higher shipment offset by lower average selling price.
The revenue derived from polysilicon decreased significantly from $218.9 million in 2011 to $73.5 million in 2012, which was due
to the combined effect of a volume decrease from 3,947 MT in 2011 to 3,262 MT in 2012 exacerbated by a 54.5% decrease in polysilicon
average selling price during 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Cost of revenues</I>. Our cost of revenues
decreased by 14.2% from $144.9 million in 2011 to $124.3 million in 2012. The decrease in costs of revenues was primarily attributable
to a decrease of $20.1 million in costs of revenues for polysilicon offset by a slight increase of $0.6 million in costs of revenues
for wafers. The costs of revenues for polysilicon was primarily due to significant production volume shrinkage in 2012 as compared
to 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Gross profit (loss)</I>. Our gross profit
decreased by 142.9% from $87.2 million in 2011 to negative $37.4 million in 2012. Our gross margin decreased from 37.6% in 2011
to negative 43.1% in 2012. The decrease in profit margin was primarily due to the lower average selling price of polysilicon and
wafers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Selling, general and administrative expenses.</I>
Our selling, general and administrative expenses were $12.9 million in 2012 compared to $13.1 million in 2011. The decrease was
primarily due to our effort on cost reduction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Research and development expenses.</I>
Our research and development expenses increased from $0.7 million to $4.1 million, and increased as a percentage of total revenues
from 0.3% in 2011 to 4.7% in 2012. We incurred additional research and development expenses for our Xinjiang Phase II polysilicon
facilities to achieve the targets for quality, capacity and cost during the pilot production period, which are not expected to
recur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Fixed asset impairment loss</I>. We recognized
a $42.8 million impairment loss for the long-lived assets of our wafer business in 2012. The impairment loss of long-lived assets
of wafer was to reflect the less than expected profit-generating ability of the assets. In 2011, we recognized an impairment loss
for the long-lived assets of its wafer facilities of $34.7 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Other operating income</I>. Other operating
income decreased from $12.0 million in 2011 to $8.7 million in 2012, which mainly consisted of unrestricted cash incentives that
we received from local government authorities, which fluctuates from period to period at the discretion of the government.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Interest expense and income</I>. Our
net interest expenses increased from $7.4 million in 2011 to $14.4 million in 2012. The increase from 2011 was primarily due to
the increase of our loan balance related to Xinjiang project.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Income tax expense</I>. Our income tax
expenses were $10.3 million, compared to $2.7 million for 2011. In consideration of the uncertainty in the solar market, we determined
it was more-likely-than-not that our deferred tax assets would not be utilized before they expire. Thus a valuation allowance of
$37.7 million for deferred tax asset was recorded for the year ended December&nbsp;31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Net income (loss) attributable to our
shareholders</I>. As a result of the factors described above, we had net loss attributable to our shareholders of $111.9 million
for 2012, compared to net income of $33.3 million for 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Recent Accounting Pronouncements</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In July 2013, the FASB issued a pronouncement
which provides guidance on financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward,
a similar tax loss, or a tax credit carryforward exists. The FASB&rsquo;s objective in issuing this ASU is to eliminate diversity
in practice resulting from a lack of guidance on this topic in current U.S. GAAP. The amendments in this ASU state that an unrecognized
tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred
tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent a net operating
loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of
the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or
the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred
tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should
not be combined with deferred tax assets. This ASU applies to all entities that have unrecognized tax benefits when a net operating
loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. The amendments in this ASU are
effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted.
The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective
application is permitted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;Inflation</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In recent years, inflation in China has
not materially impacted our results of operations. According to the National Bureau of Statistics of China, the year-over-year
percent changes in the consumer price index for December 2011, 2012 and 2013 were increases of 4.1%, 2.5% and 2.5%, respectively.
Although we have not been materially affected by inflation in the past, we may be affected if China experiences higher rates of
inflation in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">B.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liquidity and Capital Resources</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Liquidity</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our liquidity situation improved in 2013
as compared to 2012 and 2011, as the majority of the capital expenditures related to Xinjiang phase 2a project were incurred in
2011 and 2012. Net cash used in investing activities was $274.1 million, $102.9 million, and $30.7 million in 2011, 2012, and 2013,
respectively. In addition, we received financial support in the form of loans from Daqo Group in the amount of $87.9 million in
2013. Net cash provided by financing activities was $112.8 million, $27.1 million and $48.8 million in 2011, 2012 and 2013, respectively.
Overall, our cash and cash equivalents balance decreased by $110.9 million and $86.0 million in 2011 and 2012, respectively, and
increased by $1.2 million in 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of December 31, 2013, although we had
a net loss for the year, we believe that our cash, cash equivalents, cash flows from operating activities, financial support from
Daqo Group and its affiliates, and continued support from financial institutions located in the PRC in the form of renewed and
additional operating loans will be sufficient to meet our working capital, capital expenditure and repayment of bank borrowings
needs that will arise in 2014 and beyond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following significant developments in
2013 have impacted our liquidity or are expected to impact our liquidity:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>In 2011 and 2012, the solar industry was negatively impacted by a number of factors including, but not limited to, excess capacity,
reduction of government incentives in key solar markets and higher import tariffs, which contributed to declining average selling
prices for our products. Our average sales price for polysilicon decreased by 59.3% in 2012 as compared to 2011 and further decreased
by 23.3% in 2013 as compared to 2012. However, in the fourth quarter of 2012, the sales prices for polysilicon and wafer both started
to increase from historical lows due to improved demand and reduced inventory levels. The average selling price for our polysilicon
increased by 17.1% from January 2013 to December 2013. This upward trend in our polysilicon selling price continued through the
first quarter of 2014.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>For the year ended December 31, 2013, we incurred an operating loss of $200.6 million, which included a non-cash fixed asset
impairment charge of $158.4 million incurred in the second quarter of 2013. Our operating loss improved in the second half of 2013
compared to the first half. Our operating loss was $4.1 million, $5.0 million, $174.9 million (including fixed asset impairment
of $158.4 million) and $16.6 million in the fourth, third, second and first quarters of 2013, respectively. We believe the positive
trend will continue into 2014.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>During the year ended December 31, 2013, we experienced negative cash flow from operations of $16.5 million. Nevertheless,
our operating cash flow improved significantly in the second half of 2013 compared to the first half. The third quarter of 2013
was the first time since the first quarter of 2012 that we achieved positive operating cash flow on a quarterly basis. In the fourth
quarter of 2013 we continued to generate positive operating cash flow. We believe the upward trend will continue into early 2014.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>As of December 31, 2013, our current liabilities exceeded our current assets by $208.0 million. Amounts due to related parties
of $88.5 million are included as current liabilities. As part of the financial support Daqo Group and its affiliates provides to
us, Daqo Group has indicated that they will not require us to repay our debt to them before January 1, 2015. While we had cash
and cash equivalents of $7.8 million, we had short-term bank borrowings of $68.8 million all due within one year and our current
portion of long-term debt amounted to $50.1 million, such long-term debt being restricted to purchases of fixed assets and not
expected to be renewed.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>In November 2013, the Board approved the capacity expansion project in our Xinjiang polysilicon facilities which will increase
our annual capacity from 6,150 MT to 12,150 MT. We expect to complete construction and start pilot production by the end of 2014.
In addition to the equipment which is being relocated from the Phase 1 polysilicon facilities to Xinjiang facilities, the total
expected capital expenditure for the project is around $100 million, which includes approximately $7.1 million of expected relocation
costs. Of the expected capital expenditure, approximately $16.6 million had already been spent as of December 31, 2013. We expect
that completion of this project will be subject to obtaining additional funding. Our expected expenditures are estimates; actual
expenditures or components of expenditures may differ from our expected expenditure based on conditions that arise or that we become
aware of in the future.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As noted above, we believe cash flow from
operating activities, combined with the financial support from Daqo Group and its affiliates, our existing cash and cash equivalents,
operating loans, facilities currently available, and those expected to be renewed will be sufficient to satisfy our obligations
when they come due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following plans and actions are being
taken to effectively manage our liquidity:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Daqo Group provides us with a certain level of financial support and has indicated that it will not require us to pay debts
owed to the Daqo Group and subsidiaries of Daqo Group, Daqo Solar and Xinjiang Daqo Investment before January 1, 2015.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Although during 2013 our operating cash flow was negative, our operating cash flow improved in the second half of 2013 compared
to the first half. We generated positive operating cash flow in the third and fourth quarter of 2013. The improvement was primarily
due to the recovery of sales prices and our cost reduction efforts. We have taken or are in the process of taking a number of cost
reduction initiatives. For example, we constructed our Phase 2a production facilities in Xinjiang and successfully ramped up capacity
to 5,000MT by the end of March 2013. We also completed a debottlenecking project prior to the end of 2013 to increase our capacity
to 6,150MT. We expect to lower our production costs to the level of $14 per kg when we fully ramp up capacity. Further, we are
in the process of conducting a capacity expansion project in Xinjiang to increase our annual capacity from 6,150 MT to 12,150 MT.
We expect to complete the construction and start pilot production by the end of 2014 and fully ramp up capacity in the second quarter
of 2015. At that time, our total production cost for polysilicon is expected to be reduced to the level of $12 per kg. We are also
in the process of implementing a slurry recovery system for our wafer facilities for further cost savings. According to our cost
reduction roadmap and based on the premise that the sales prices will remain stable through 2014, management believes our liquidity
situation will continue to improve.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>While there can be no assurance that we will be able to refinance our operating loans as they come due, historically we have
renewed or rolled over some of our operating loans upon the maturity date of the loans and have assumed we will continue to be
able to do so. In March 2014, we renewed a $16.6 million (RMB 100 million) facility from China Everbright Bank for 6 months, including
a $11.6 million (RMB 70 million) operating loan and a $5.0 million (RMB 30 million) bank accepted notes facility.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Based on the abovementioned factors, our
management believes that adequate sources of liquidity will exist to fund our working capital and capital expenditures requirements,
and to meet our short term debt obligations, other liabilities and commitments as they become due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Cash Flows and Working Capital</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Polysilicon production requires intensive
capital investment. Due to our relatively short operating history, our financing has been primarily through sales of polysilicon,
bank borrowings, financing from Daqo Group, and advances from customers.
Furthermore, a substantial portion of our outstanding indebtedness is guaranteed by Daqo Group. In the future, we may rely upon
Daqo Group to provide additional guarantees for our indebtedness or direct assistance if our cash on hand and cash flow from our
operations are insufficient for our future capital needs. The following table sets forth a summary of our cash flows for the periods
indicated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Year Ended December 31,</B>&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2011</B>&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2012</B>&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2013</B>&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="9" STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(US$ in thousands)</B>&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net cash provided by (used in) operating activities&#9;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">44,858</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(10,307</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(16,526</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net cash used in investing activities&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(274,139</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(102,922</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(30,696</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net cash provided by financing activities&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">112,781</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">27,144</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">48,827</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Effect of exchange rate changes&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5,561</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">67</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(453</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net increase (decrease) in cash and cash equivalents&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(110,939</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(86,018</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,152</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cash and cash equivalents at the beginning of the year&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">203,636</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">92,697</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6,679</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cash and cash equivalents at the end of the</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">year &#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">92,697</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6,679</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7,831</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Supplemental disclosure of cash flow information:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Interest paid&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10,991</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15,555</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3,235</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Income taxes paid&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">18,861</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8,053</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net cash inflow on the disposition&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2,656</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Supplemental schedule of non-cash investing activities:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Purchases of property, plant and equipment included in accounts payable&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">41,302</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">46,595</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">51,767</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our cash and cash equivalents decreased
by $110.9 million and $86.0 million in 2011 and 2012, respectively. In 2013, our cash and cash equivalents increased by $1.2 million.
In 2013, net cash used in investing activities decreased significantly from 2011 and 2012 which was primarily related to the wrapping
up of construction of our Xinjiang Phase 2a polysilicon facilities at the end of the third quarter of 2012. In 2013, net cash
provided by financing activities increased by $21.7 million compared to 2012. The increase was primarily due to continuous financial
support received from Daqo Group and its affiliates in 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of December 31, 2013, we had $8.8 million
in restricted cash and $7.8 million in cash and cash equivalents. Approximately $5.2 million, $6.2 million and $5.2 million of
our restricted cash and cash and cash equivalents were held by Chongqing Daqo Xinjiang Daqo and Cayman Daqo, respectively. Restricted
cash was primarily comprised of cash that we placed in our bank accounts as guarantee deposits for the banks&rsquo; issuance of
short-term letters of credit and bank notes. Cash and cash equivalents consisted of cash on hand and demand deposits, which were
unrestricted as to withdrawal and use and had maturities of three months or less.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of December 31, 2013, we had a working
capital deficit (total current assets less total current liabilities) of $208.0 million. We had cash, cash equivalents and restricted
cash of $16.7 million and short-term and long-term liabilities of $118.9 million and $134.9 million, respectively, as of December
31, 2013. In addition, we have a total capital commitment of $36.7 million. Although Daqo Group and its subsidiaries have provided financial support of $85 million to the Company and they will not ask
us to repay any of this amount before January 1, 2015, there is substantial doubt as to our ability to continue as a going concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Daqo Group and its affiliates have indicated
that they will not require us to repay our debt to them before January 1, 2015. In addition, as of December 31, 2013, we have $56.2
million of unused committed and available bank standby credit facilities. In March 2014, we renewed a $16.6 million (RMB 100 million)
facility from China Everbright Bank for 6 months, including a $11.6 million (RMB 70 million) operating loan and a $5.0 million
(RMB 30 million) bank accepted notes facility. In summary, our continuation as a going concern is dependent upon continued financial
support from Daqo Group, our ability to continue to obtain other sources of financing and our operating cash flow in 2014. See
&ldquo;Item 3. Key Information&mdash;D. Risk Factors&mdash;Risks Relating to Doing Business in China&mdash;We are facing significant
working capital pressure in the current challenging market environment. Daqo Group provides financial support to us to meet certain
of our working capital requirements and obligations as they come due. If we are not able to generate adequate operating cash flow
or obtain adequate financial support from Daqo Group or from other sources, we will face the risk of not being able to continue
as a going concern.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Operating Activities</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Net cash used in operating activities for
the year ended December&nbsp;31, 2013 was $16.5 million, primarily resulting from $120.4 million of cash we received from the sale
of our products, our payments for raw materials and utilities of $94.2 million, taxes paid of $2.8 million, employee salaries and
welfare payments of $17.7 million and interest expense payments of $18.9 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Although during 2013 our overall operating
cash flow was negative, our operating cash flow improved significantly in the second half of 2013 compared to the first half. We
generated positive operating cash flow in the third and fourth quarters of 2013. The improvement was primarily due to the recovery
of sales prices and our continuous cost reduction efforts at our Xinjiang facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Net cash used in operating activities for
the year ended December&nbsp;31, 2012 was $10.3 million, primarily resulting from $92.1 million of cash we received from the sale
of our products, our payments for raw materials and utilities of $69.2 million, taxes paid of $10.8 million, employee salaries
and welfare payments of $19.5 million and interest expense payments of $15.4 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Net cash provided by operating activities
for the year ended December&nbsp;31, 2011 was $44.9 million, primarily resulting from $239.5 million of cash we received from the
sale of our products, our payments for raw materials and utilities of $119.1 million, taxes paid of $39.0 million, employee salaries
and welfare payments of $18.7 million and interest expense payments of $9.7 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Investing Activities</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Net cash used in investing activities for
the year ended December&nbsp;31, 2013 was $30.7 million, primarily resulting from payments for the purchase of property, plant
and equipment in a total amount of $32.5 million combined with the decrease of restricted cash of $1.8 million that we placed in
our bank accounts as guarantee deposits for the banks&rsquo; issuance of short term letters of credit and the notes in support
of our purchases of property, plant and equipment. In 2013, net cash used in investing activities decreased significantly from
2011 and 2012, which was primarily related to the completion of construction of our Xinjiang Phase&nbsp;2a polysilicon facilities
at the end of third quarter of 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Net cash used in investing activities for
the year ended December&nbsp;31, 2012 was $102.9 million. Net cash used in investing activities for the year ended December&nbsp;31,
2012 primarily resulted from payments for the purchase of property, plant and equipment in a total amount of $105.7 million combined
with an increase of restricted cash of $0.08 million that we placed in our bank accounts as guarantee deposits for the banks&rsquo;
issuance of short term letters of credit and notes in support of our purchases of property, plant and equipment and $2.7 million
in net proceeds from the disposal of our module business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Net cash used in investing activities for
the year ended December&nbsp;31, 2011 was $274.1 million. Net cash was primarily the result of payments for the purchase of property,
plant and equipment in a total amount of $252.7 million combined with decrease in restricted cash of $11.5 million that we placed
in our bank accounts as guarantee deposits for the banks&rsquo; issuance of short term letters of credit and notes in support of
our purchases of property, plant and equipment and a $9.9 million net interest free loan we extended to a related party in 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Financing Activities</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Net cash provided by financing activities
for the year ended December&nbsp;31, 2013 was $48.8 million, primarily resulting from cash received from related parties in the
amount of $87.9 million and proceeds received from the bank borrowings and other borrowings in the amount of $74.6 million offset
by the repayment of bank borrowing in the amount of $113.7 million. Net cash provided by financing activities for the year ended
December&nbsp;31, 2012 was $27.1 million, primarily resulting from the proceeds received from the bank borrowings and other borrowings
in the amount of $129.5 million offset by the repayment of bank borrowing in the amount of $103.6 million. In 2013, net cash provided
by financing activities increased by $21.7 million compared to 2012. The increase was primarily due to continuous financial support
from Daqo Group and its affiliates in 2013. Daqo Group and its affiliates will not require us to repay our debt to them before
January 1, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Net cash provided by financing activities
for the year ended December&nbsp;31, 2011 was $112.8 million, primarily resulting from the proceeds received from the bank borrowings
in the amount of $186.6 million offset by the repayment of bank and other borrowings in the amount of $73.8 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Capital Expenditures</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We incurred capital expenditures of
$252.7 million and $105.7 million for the construction of our polysilicon, wafer and module production facilities and
purchase of polysilicon, wafer and module production equipments in 2011 and 2012, respectively. In 2013, we made capital
expenditures of $32.5 million for technical improvements and equipment enhancements for our wafer facilities in Chongqing and
polysilicon facilities in Xinjiang. Our capital expenditures will increase in the future. We expect that total capital
expenditures related to the capacity expansion project in our Xinjiang polysilicon facilities will be approximately $100
million. Of the $100 million in estimated expenditures, approximately $16.6 million has already been spent prior to 2014. We
expect that completion of this project will be subject to obtaining additional funding. We intend to use cash generated from
operating activities and take other actions to obtain alternative sources of financing, such as obtaining loan facilities
from financial institutions, obtaining financial support from Daqo Group and its affiliates or entering into capital
arrangements to meet our capital expenditure requirements.For additional information, see also &ldquo;&mdash;Liquidity and
Capital Resources&rdquo; and &ldquo;Item 4. Information on the Company&mdash;B. Business
Overview&mdash;Manufacturing Capacity&rdquo; in this annual report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;Research and Development, Patents and Licenses,
Etc.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">See &ldquo;Item 4. Information on the Company&mdash;B.
Business Overview&mdash;Research and Development.&rdquo; See &ldquo;Item 4. Information on the Company&mdash;B. Business Overview&mdash;Intellectual
Property.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">D.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trend Information</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Market Trends</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Global solar PV installations in 2013 totaled
around 36.5 GW, which represents a 16% increase compared to 31.4 GW in 2012. Although the European markets shrank significantly
due to subsidy cuts in major markets like Germany, Italy and Spain, the markets in China, Japan and U.S. took over the leading
positions as the three biggest markets for solar PV in 2013. Currently most analyst reports forecast that global solar PV installations
in 2014 will be in the range of 42~45 GW, which represents growth of 15%~23%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2013, annual solar PV installations in
China were reported as 11 GW, almost double that in 2012. In February 2014, China National Energy Administration confirmed a 14&nbsp;GW
target for 2014, which represents growth of 27%. In addition, in February 2014, China&rsquo;s Central Bank released guidance for
financing policies to support four strategic industries including the solar PV industry. We believe the financing environment for
the solar PV industry will improve in 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On the premise that the global market grows
as expected, that the Chinese government continues to support solar PV industry and encourage domestic applications and that there
will not be significant new supply entering into the market in 2014, we believe the prices for polysilicon and wafer will be strongly
supported by demand at the current price level.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Operational Trends</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We successfully completed the
construction of our Phase 2a facilities in Xinjiang in September 2012 and fully ramped up capacity to 5,000 MT at our Phase
2a facilities prior to the end of March 2013. We also completed a &ldquo;debottlenecking&rdquo; project prior to the end of
2013, which increased our annual capacity to 6,150MT. We expect the project to lower production costs to the level of $14 per
kg when we fully ramp up capacity. In November 2013, the Board officially approved the capacity expansion project in our
Xinjiang polysilicon facilities which will increase our annual capacity from 6,150 MT to 12,150 MT. We expect to complete
construction and start pilot production by the end of 2014. We expect to fully ramp up the newly added capacity in the second
quarter of 2015 and lower production costs to the level of $12 per kg. In April 2014, we will conduct annual maintenance in
our Xinjiang facilities, which will affect our output and costs for that month. However, we still expect to achieve 6,150 MT
production capacity in 2014 despite the annual maintenance in April 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2013, we gradually increased the utilization
rate of our wafer facilities and successfully expanded the capacity to 72 million pieces in November 2013. We plan to adopt several
technical improvements in 2014 including a slurry recovery system which will enable us to further reduce our production costs.
We expect to complete the installation of the slurry recovery system in May 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Other than as disclosed elsewhere in this
annual report, we are not aware of any trends, uncertainties, demands, commitments or events since the beginning of our fiscal
year 2013 that are reasonably likely to have a material effect on our net revenues, income from operations, profitability, liquidity
or capital resources, or that would cause the disclosed financial information to be not necessarily indicative of future operating
results or financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">E.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Off Balance Sheet Commitments and Arrangements</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have not entered into any financial guarantees
or other commitments to guarantee the payment obligations of third parties. We have not entered into any derivative contracts that
are indexed to our shares and classified as shareholders&rsquo; (deficit)/equity, or that are not reflected in our consolidated
financial statements. Furthermore, we do not have any retained or contingent interest in assets transferred to an unconsolidated
entity that serves as credit, liquidity or market risk support to such entity. We do not have any variable interest in any unconsolidated
entity that provides financing, liquidity, market risk or credit support to us or that engages in leasing, hedging or research
and development services with us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">F.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tabular Disclosure of Contractual Obligations</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth our contractual
obligations and commercial commitments as of December 31, 2013:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Payments due by Period</TD><TD STYLE="padding-bottom: 1pt; font-size: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Less than<BR> 1 Year</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">1-3<BR> Years</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">3-5<BR> Years</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">More Than<BR> 5 Years</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font-size: 10pt; font-weight: bold; text-align: center">(in thousands)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0">Contractual obligations:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 45%; font-size: 10pt; padding-left: 0.25in">Long-term debt <SUP>(1)(2)</SUP></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">184,920</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">50,050</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">134,870</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 0.25in">Capital commitments <SUP>(3)</SUP></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">36,721</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">34,148</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,573</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-left: 0.25in">Operating lease obligations <SUP>(4)</SUP></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3,268</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,122</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,146</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 0"><B>Total obligations</B></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">224,909</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">85,320</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">139,589</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin: 1pt 4.5in 1pt 0in">&nbsp;</DIV>

<DIV STYLE="text-align: left; margin: 1pt 4.5in 1pt 0in"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Excludes interest payments.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>As of December 31, 2013, long-term bank loans in the amount of $184.9 million were guaranteed by Daqo
                                                            Group.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>Represents commitments relating to our purchase of property, plant and equipment for our production capacity expansion, including
payment commitments to our project contractors.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD>Represents Chongqing Daqo&rsquo;s obligation under the lease agreement for use of its Shanghai office until April 2014 and
Chongqing Daqo&rsquo;s obligation under the lease agreement with Daqo New Materials until January 2019.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">G.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Safe Harbor</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This annual report on Form 20-F contains
forward-looking statements. These statements are made under the &ldquo;safe harbor&rdquo; provisions of Section&nbsp;21E of the
Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as &ldquo;will,&rdquo;
&ldquo;expects,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;future,&rdquo; &ldquo;intends,&rdquo; &ldquo;plans,&rdquo; &ldquo;believes,&rdquo;
&ldquo;estimates,&rdquo; &ldquo;may,&rdquo; &ldquo;intend,&rdquo; &ldquo;it is possible,&rdquo; &ldquo;subject to&rdquo; and similar
statements. Among other things, the sections titled &ldquo;Item 3. Key Information&mdash;D. Risk Factors,&rdquo; &ldquo;Item 4.
Information on the Company,&rdquo; and &ldquo;Item 5. Operating and Financial Review and Prospects,&rdquo; as well as our strategic
and operational plans, contain forward-looking statements. We may also make written or oral forward-looking statements in our filings
with the Securities and Exchange Commission, in our annual report to shareholders, in press releases and other written materials
and in oral statements made by our officers, directors or employees to third parties. Statements that are not historical facts,
including statements about our beliefs and expectations, are forward-looking statements and are subject to change, and such change
may be material and may have a material adverse effect on our financial condition and results of operations for one or more prior
periods. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual
results to differ materially from those contained, either expressly or impliedly, in any forward-looking statement in this annual
report on Form 20-F, including but not limited to the following: the demand for photovoltaic products and the development of photovoltaic
technologies; global supply and demand for polysilicon; alternative technologies in cell manufacturing; our ability to significantly
expand our polysilicon production capacity and output; and the reduction in or elimination of government subsidies and economic
incentives for solar energy applications. All information provided in this annual report on Form 20-F and in the exhibits is as
of the date of this annual report on Form 20-F, and we do not undertake any obligation to update any such information, except as
required under applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;6. DIRECTORS, SENIOR MANAGEMENT AND
EMPLOYEES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">A.&#9;Directors and Executive Officers</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth information
regarding our directors and executive officers as of the date of this annual report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 42%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.5pt solid"><b>Name</b></P></td>
    <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.5pt solid"><b>Age</b></P></td>
    <td style="width: 48%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.5pt solid"><b>Position/ Title</b></P></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Guangfu Xu</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">71</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Chairman of the board of directors</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Xiang Xu</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">43</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Director</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Dafeng Shi</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">42</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Director</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Gongda Yao</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">55</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Director and chief executive officer</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Fumin Zhuo</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">61</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Independent director</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Rongling Chen</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">71</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Independent director</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Minsong Liang</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">45</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Independent director</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Shuming Zhao</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">61</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Independent director</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Arthur Wong</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">54</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Independent director</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Bing Sun</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">42</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Chief financial officer</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Tracy Tianqun Zhou</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">52</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Chief marketing officer</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Guoping Zhu</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">42</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">Chief technology officer</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I></I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Mr.&nbsp;Guangfu Xu</I> is the chairman
of our board of directors. Mr.&nbsp;Xu is principally responsible for formulating our strategic development objectives. Mr.&nbsp;Xu
has been the chairman and general manager of Daqo Group since January 1984 and currently holds directorship positions with 27 subsidiaries
and affiliated entities of Daqo Group. Mr. Xu has served as chairman of our board of directors since our incorporation in November
2007. Mr.&nbsp;Xu joined Xinba General Company, the predecessor entity of Daqo Group, in 1966 and has been instrumental in building
Daqo Group from a small township and village enterprise to a leading manufacturer of electrical systems in China. Mr.&nbsp;Xu is
a member of the Ninth People&rsquo;s Congress of Jiangsu Province and the vice chairman of the Standing Committee of the Ninth
Yangzhong City People&rsquo;s Congress. Mr.&nbsp;Xu was named a<I> National Township and Village Entrepreneur</I> by the Ministry
of Agriculture of China in 2001 and 2002. Mr.&nbsp;Xu graduated from secondary school in 1960.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Mr.&nbsp;Xiang Xu</I> is one of our directors.
Mr.&nbsp;Xu is also the vice chairman of the board and president of Daqo Group and currently holds directorship positions with
25 subsidiaries of Daqo Group. Mr. Xu has served as a director of our Company since our incorporation in November 2007. Mr.&nbsp;Xu
served as the general manager of Jiangsu Changjiang Electric Co., Ltd., a subsidiary of Daqo Group, from January 2000 through May
2006. Mr.&nbsp;Xu received his EMBA degree from Nanjing University in 2004. Mr.&nbsp;Xiang Xu is the son of Mr.&nbsp;Guangfu Xu.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Mr.&nbsp;Dafeng Shi</I> is one of our
directors. Mr.&nbsp;Shi had served as a director of our company since its initial public offering until October 2011 and was appointed
again to be our director in February 2013. Mr.&nbsp;Shi has been the vice president for finance of Daqo Group since January 2006
and currently holds directorship positions with four subsidiaries and affiliated entities of Daqo Group. Prior to joining Daqo
Group, Mr.&nbsp;Shi served as the vice president of Yangzhong Tianyuan Accounting Firm from 2000 to 2001. Mr.&nbsp;Shi received
his bachelor&rsquo;s degree in economic management from the Correspondence Institute of the Central Party School in 1997 and his
associate degree in accounting from Nanjing University of Finance&nbsp;&amp; Economics in 1992. Mr.&nbsp;Shi received his master
degree of professional accountancy from The Chinese University of Hong Kong. Mr.&nbsp;Shi is a Certified Public Accountant in China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Dr.&nbsp;Gongda Yao</I> is one of our
directors and chief executive officer. Dr.&nbsp;Yao has served as our director and chief executive officer since August 2009. Dr.&nbsp;Yao
has extensive experience in the electronic development and manufacturing industry. Prior to joining our company, Dr.&nbsp;Yao served
as the vice president and China general manager for Applied Materials from October 2006 to July 2008. Dr.&nbsp;Yao was also the
vice president and general manager of the Integrated Metal Business Unit of Novellus Systems from October 2005 to October 2006,
and vice president of operations at Ciwest Semiconductor Company from April 2005 to October 2005. Before that, Dr.&nbsp;Yao worked
for Applied Materials at various management positions for 11 years. Dr.&nbsp;Yao received his Ph.D. in materials science&nbsp;&amp;
engineering from the State University of New York at Stony Brook in 1992, his master&rsquo;s degree in materials science from Tongji
University and the Chinese Academy of Science in 1984 and his bachelor&rsquo;s degree in theoretical physics from Shanghai University
of Science and Technology in 1982. Dr.&nbsp;Yao holds more than 10 U.S. patents and has authored or co-authored more than 40 technical
articles and papers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Mr.&nbsp;Fumin Zhuo</I> is one of our
independent directors. Mr.&nbsp;Zhuo has served as our director since November 2009. Mr.&nbsp;Zhuo has also served as independent
directors to SRE Group Ltd., a company listed on the Hong Kong Stock Exchange and China Enterprise Company Limited, a company listed
on the Shanghai Stock Exchange. Mr. Zhuo has also served as non-executive director to Besunyen Holdings Company Limited, a company
listed on the Hong Kong Stock Exchange. Mr.&nbsp;Zhuo has over two decades experience in investment and corporate management. Mr.&nbsp;Zhuo
is currently a managing partner of Granite Global Ventures III L.L.C., a general partner of SIG Capital Limited and Chairman of
Venture Star Investment (HK) Limited. Prior to joining SIG Capital Limited in July 2005, Mr.&nbsp;Zhuo served as the chairman and
chief executive officer of Vertex China Investment Company, a company concentrating in investments in the Greater China region
since July 2002. From 1995 to July 2002, Mr.&nbsp;Zhuo was the chief executive officer of Shanghai Industrial Holding Ltd. and
the chairman of SIIC Medical Science&nbsp;&amp; Technology (Group). Prior to that, starting in 1987 Mr.&nbsp;Zhuo served as chief
assistant officer of the Shanghai Economic System Reform Committee. Mr.&nbsp;Zhuo has extensive experience in venture capital fund
formation, mergers and acquisitions, and investment management. Mr.&nbsp;Zhuo received his master&rsquo;s degree in economics from
Fudan University and his bachelor&rsquo;s degree in enterprise management from Shanghai Jiaotong University&rsquo;s Electrical
Engineering School.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Mr.&nbsp;Rongling Chen</I> is one of
our independent directors. Mr.&nbsp;Chen has served as our director since October 2010. Mr.&nbsp;Chen has served as an independent
director to Tianjin Zhonghuan Semiconductor Co., Ltd., a company listed on Shenzhen Stock Exchange. Between 2010 and 2012 Mr.&nbsp;Chen
was a vice president of Applied Materials and chief administration officer of Applied Materials China. Mr.&nbsp;Chen was an executive
advisor of IMEC, a leading advanced semiconductor R&amp;D center based in Belgium, and also a senior advisor and chairman of China
advisory board to SEMI, a global industry association serving the manufacturing supply chains for the microelectronic, display
and photovoltaic industries. Mr.&nbsp;Chen started working for Applied Materials in 1984, and has served in various senior positions,
including vice president, chairman of Applied Materials China and head of China marketing and corporate affairs, before retiring
in 2012. Mr.&nbsp;Chen received his bachelor&rsquo;s degree in semiconductor devices and materials from Zhe Jiang University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Dr.&nbsp;Minsong Liang</I> is one of
our independent directors. Dr.&nbsp;Liang has served as our director since October 2011. Dr.&nbsp;Liang is currently a co-managing
partner of CLA Partners, a boutique investment banking firm in China. Dr.&nbsp;Liang serves as an independent director to Qingdao
Eastsoft Communication Technology Co. Ltd., a company listed on Shenzhen Stock Exchange and to Yunnan International Trust&nbsp;&amp;
Investment Co., Ltd., a financial services company in China. Prior to joining CLA Partners, Dr.&nbsp;Liang has held various management
positions at China Securities Regulatory Commission and State-owned Assets Management Commission of Yunnan Province. Dr.&nbsp;Liang
received his Ph.D. in economics from the University of Michigan at Ann Arbor and J.D. from New York University School of Law. He
received his bachelor&rsquo;s degree in economics from Beijing University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Mr.&nbsp;Shuming Zhao</I> is one of our
independent directors. Mr.&nbsp;Zhao has served as our director since October 2011. Mr.&nbsp;Zhao is dean of the Nanjing University
School of Business. In addition, Mr.&nbsp;Zhao is an adjunct professor at the University of Southern California Marshall School
of Business, Claremont Graduate University, Macau University of Science and Technology and Nanjing University of Post and Telecommunications.
Mr.&nbsp;Zhao serves as independent directors to Jiangsu Little Swan Ltd. in China and MFC Industrial Ltd., a NYSE-listed Canadian
company. Mr.&nbsp;Zhao received his bachelor&rsquo;s degree in English language from Nanjing University and a master&rsquo;s degree
in education and a Ph.D. in management, both from Claremont Graduate University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Mr.&nbsp;Arthur Wong</I> is one
of our independent directors. Mr. Wong has served as our director since December 2012. Mr. Arthur Wong is the Chief
Financial Officer of Beijing Radio Cultural Transmission Company Limited. He also currently serves as an independent director
and Chairman of the Audit Committee for VisionChina Media Inc. and China Automotive Systems, Inc., both listed on the NASDAQ,
and Besunyen Holdings Company Limited and Termbray Petro-King Oilfield Services Limited, both listed on the Hong Kong Stock
Exchange. He also serves as an independent director and Chairman of the Audit Committee for YOU On Demand Holdings, Inc,
listed on NASDAQ. From 2008 to 2012, Mr. Wong served as Chief Financial Officer for Asia New-Energy, Nobao Renewable Energy
and GreenTree Inns Hotel Management Group sequentially. From 1982 to 2008, Mr. Wong worked for Deloitte Touche Tohmatsu, in
Hong Kong, San Jose and Beijing over various periods of time, most recently as a partner in the Beijing office. Mr. Wong
received a bachelor&rsquo;s degree in applied economics from the University of San Francisco and a higher diploma of
accountancy from Hong Kong Polytechnic University. He is a member of the American Institute of Certified Public Accountants
and the Hong Kong Institute of Certified Public Accountants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Mr.&nbsp;Bing Sun</I> is our chief financial
officer. Mr.&nbsp;Sun joined us, as our chief financial officer in February 2012, from Shunda Holdings Co, a solar photovoltaic
company based in China, where he was the Chief Financial Officer since June 2008. Prior to Shunda Holdings, Mr.&nbsp;Sun was financial
controller at BCD Semiconductor, a leading analog integrated device manufacturer in China from April 2007 to June 2008. Mr.&nbsp;Sun&rsquo;s
earlier experiences include serving as audit manager at Deloitte Touche Tohmatsu and compliance manager at The Brinks Company.
Mr.&nbsp;Sun holds an MBA degree with a concentration in accounting from Virginia Commonwealth University and he is a U.S. Certified
Public Accountant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Dr.&nbsp;Tracy Tianqun Zhou</I> is our
chief marketing officer. Dr.&nbsp;Zhou has served as our chief marketing officer since October 2012. Dr.&nbsp;Zhou served as our
chief technology officer between January 2009 and October 2012. Prior to joining us in January 2009, Dr.&nbsp;Zhou served as a
product manager at Silicon Quest International in Santa Clara, California from January 2008. From 2004 to 2008, Dr.&nbsp;Zhou was
the senior field applications engineer at MEMC Electronics Materials, Inc. in San Jose, California. Before that, Dr.&nbsp;Zhou
was the silicon business unit manager at West Coast Quart from 2001 to 2004, operations director at Unisil Corp from 1998 to 2001
and senior process engineer at Mitsubishi Silicon America (now Sumco) from 1994 to 1998. Dr.&nbsp;Zhou received her Ph.D. in materials
science and engineering from North Carolina State University in 1993 and a master&rsquo;s degree from the Shanghai Institute of
Ceramics in 1986. Dr.&nbsp;Zhou received her bachelor&rsquo;s degree in chemistry from the University of Science and Technology
of China in 1982.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Mr.&nbsp;Guoping Zhu</I> is our chief
technology officer. Mr.&nbsp;Zhu has served as our chief technology officer since October 2012. Mr.&nbsp;Zhu joined our company
in August 2006 and was previously the deputy general manager of Xinjiang Daqo. Prior to his tenure in Xinjiang, Mr.&nbsp;Zhu served
as a technologist and deputy general manager at Chongqing Daqo Group. Mr.&nbsp;Zhu has over 18 years of experience in chemical,
materials, and electric industries. He holds a bachelor&rsquo;s degree from Tianjin University of Science and Technology.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Composition of Board of Directors</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our board of directors consists of nine
directors. A director is not required to hold any shares in our company by way of qualification. A director may vote with respect
to any contract or transaction in which he or she is materially interested provided the nature of the interest is disclosed prior
to its consideration. Subject to our Third Amended and Restated Memorandum and Articles of Association, the directors may exercise
all the powers of our company to borrow money, mortgage his or her undertaking, property and uncalled capital, and issue debentures
or other securities whether outright or as security for any debt, liability or obligation of our company or of any third party.
We have a majority independent board and fully independent audit committee, compensation committee and nominating and corporate
governance committee, and are in full compliance with applicable SEC and NYSE rules regarding the board and committee composition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">B.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;Compensation</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2013, our aggregate payments of cash
to directors or executive officers was approximately $0.8 million. In 2013, our directors and executive officers received options
under our share incentive plan. See &ldquo;&mdash;Share Incentive Plan.&rdquo; Our PRC subsidiaries and former consolidated variable
interest entity (which on December 31, 2013 ceased to be our consolidated variable interest entity) are and were required, as the
case may be, by PRC law to make contributions equal to certain percentages of each employee&rsquo;s salary for his or her pension
insurance, medical insurance, housing fund, unemployment and other statutory benefits. We have accrued or set aside, in the aggregate,
approximately $9 thousand for pension or similar retirement benefits for our executive officers and directors, as required under
PRC laws, for the fiscal year ended December 31, 2013. Other than the aforementioned statutorily required contributions, we have
not set aside or accrued any other amount to provide pension, retirement or other similar benefits to our executive officers and
directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Share Incentive Plan</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In August 2009, we adopted the 2009 share
incentive plan, or the 2009 Plan, to attract and retain the best available personnel, provide additional incentives to employees,
directors and consultants, and promote the success of our business. Our board of directors has authorized the issuance of up to
15,000,000 ordinary shares upon the exercise of awards granted under the 2009 Plan. As of the date of this annual report, excluding
the expired and cancelled options, the Company has granted options to purchase a total of 13,195,816 of our ordinary shares among
which 12,645,416 are outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following paragraphs summarize the terms
of the 2009 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Plan Administration</I></B>. Our board
of directors, or a committee designated by our board or directors, will administer the plan. The committee or the full board of
directors, as appropriate, will determine the provisions and terms and conditions of each award grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Types of Awards. </I></B>The 2009
Plan provides for the grant of stock options, restricted shares and restricted share units to a participant pursuant to the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Award Agreement</I></B>. Options and
other stock purchase rights granted under our plan are evidenced by an award agreement, as applicable, that sets forth the terms,
conditions and limitations for each grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Exercise Price</I></B>. The exercise
price subject to an option shall be determined by the plan administrator and set forth in the award agreement. The exercise price
may be amended or adjusted in the absolute discretion of the plan administrator, the determination of which shall be final, binding
and conclusive. To the extent not prohibited by applicable laws or any exchange rule, a downward adjustment of the exercise prices
of options shall be effective without the approval of the shareholders or the approval of the affected participants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Eligibility</I></B>. We may grant
awards to our employees, directors and consultants or those of any of our related entities, which include our subsidiaries or any
entities in which we hold a substantial ownership interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Term of the Options</I></B>. The term
of each option grant shall be stated in the award agreement, provided that the term shall not exceed 10 years from the date of
the grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Vesting Schedule</I></B>. In general,
the plan administrator determines, or the award agreement specifies, the vesting schedule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Transfer Restrictions</I></B>. Awards
to purchase our ordinary shares may not be transferred in any manner by the participant other than by will or the laws of succession.
An option award may be exercised during the lifetime of the optionee only by the optionee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Termination of the Plan</I></B>. Unless
terminated earlier, the plan will terminate automatically in 2019. Our board of directors has the authority to amend or terminate
the plan subject to shareholder approval to the extent necessary to comply with applicable law. However, no such action may (i)&nbsp;impair
the rights of any participant unless agreed by the participant and the plan administrator or (ii)&nbsp;affect the plan administrator&rsquo;s
ability to exercise the powers granted to it under our plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table summarizes, as of the
date of this annual report, the options granted to our senior executive officers, directors and to other individuals as a group,
without giving effect to the options that were exercised or terminated, if any.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid; padding-left: 0">Name</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Ordinary Shares Underlying Option Awarded</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Exercise Price ($/Share)</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Date of Grant</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Date of Expiration</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 46%; font-size: 10pt; text-align: left; padding-left: 0">Directors and officers as a group&#9;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">3,400,000</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">0.25</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: right; padding-left: 5.4pt">October 31, 2009</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: right; padding-left: 5.4pt">October 30, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">50,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.25</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">October 6, 2010</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">October 5, 2020</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">925,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.25</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">December 3, 2010</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">December 2, 2020</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,050,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.25</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">January 9, 2012</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">January 8, 2022</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">140,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.25</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">April 3, 2013</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">April 2, 2023</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,654,166</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">1.49</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">January 28, 2014</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">January 27, 2024</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0">Other individuals as a group&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,950,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.25</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">October 31, 2009</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">October 30, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">70,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.25</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">October 6, 2010</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">October 5, 2020</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,265,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.25</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">December 3, 2010</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">December 2, 2020</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">140,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.25</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">January 9, 2012</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">January 8, 2022</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,620,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">1.49</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">January&nbsp;28,&nbsp;2014</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">January&nbsp;27,&nbsp;2014</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt; padding-left: 0">Total&#9;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">15,264,166</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">*</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-bottom: 2.5pt; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right; padding-bottom: 2.5pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*&#9;The number of total options awarded includes options that
were exercised or terminated, if any.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">C.&#9;Board Practices</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Code of Business Conduct and Ethics</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our code of business conduct and ethics
provides that our directors and officers are expected to avoid any action, position or interest that conflicts with the interests
of our company or gives the appearance of a conflict. Directors and officers have an obligation under our code of business conduct
and ethics to advance our company&rsquo;s interests when the opportunity to do so arises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Duties of Directors</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under Cayman Islands law, our directors
have a fiduciary duty to act honestly, in good faith and with a view to our best interests. Our directors also have a duty to exercise
the skill they actually possess and such care and diligence that a reasonably prudent person would exercise in comparable circumstances.
In fulfilling their duty of care to us, our directors must ensure compliance with our memorandum and articles of association, as
amended and restated from time to time. A shareholder has the right to seek damages if a duty owed by our directors is breached.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The functions and powers of our board of
directors include, among other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>convening shareholders&rsquo; annual general meetings and reporting its work to shareholders at such meetings;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>declaring dividends and distributions;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>appointing officers and determining the term of office of officers;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>subject to our Third Amended and Restated Memorandum and Articles of Association, exercising the borrowing powers of our company
and mortgaging the property of our company; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>approving the transfer of shares of our company, including the registering of such shares in our share register.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Terms of Directors and Executive Officers</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our officers are elected by and serve at
the discretion of the board of directors. Our directors are not subject to a term of office and hold office until such time as
they are removed from office in accordance with our Third Amended and Restated Memorandum and Articles of Association. A director
will be removed from office automatically if, among other things, the director (1)&nbsp;becomes bankrupt or makes any arrangement
or composition with his creditors; or (2)&nbsp;dies or becomes of unsound mind.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Committees of the Board of Directors</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Audit Committee</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our audit committee consists of Mr.&nbsp;Arthur
Wong, Mr.&nbsp;Rongling Chen and Dr.&nbsp;Minsong Liang, and is chaired by Mr.&nbsp;Wong. All of our audit committee members satisfy
the &ldquo;independence&rdquo; requirements of Section&nbsp;303A of the Corporate Governance Rules of the New York Stock Exchange
and meet the independence standards under Rule 10A-3 under the Securities Exchange Act of 1934, as amended. We have determined
that Mr.&nbsp;Wong qualifies as an &ldquo;audit committee financial expert.&rdquo; The audit committee oversees our accounting
and financial reporting processes and the audits of the financial statements of our company. The audit committee is responsible
for, among other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>selecting our independent auditors and pre-approving all auditing and non-auditing services permitted to be performed by our
independent auditors;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>reviewing with our independent auditors any audit problems or difficulties and management&rsquo;s response to such audit problems
or difficulties;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>reviewing and approving all proposed related party transactions, as defined in Item&nbsp;404 of Regulation S-K under the Securities
Act;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>discussing the annual audited financial statements with management and our independent auditors;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>reviewing major issues as to the adequacy of our internal controls and any special audit steps adopted in light of material
control deficiencies;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>annually reviewing and reassessing the adequacy of our audit committee charter;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>such other matters that are specifically delegated to our audit committee by our board of directors from time to time;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>meeting separately and periodically with management and our internal and independent auditors; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>reporting regularly to the full board of directors.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2013, our audit committee held meetings
or passed resolutions by unanimous written consent 8 times.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Compensation Committee</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our compensation committee consists of Mr.&nbsp;Fumin
Zhuo, Mr.&nbsp;Arthur Wong and Mr.&nbsp;Rongling Chen, and is chaired by Mr.&nbsp;Zhuo. All of our compensation committee members
satisfy the &ldquo;independence&rdquo; requirements of Section&nbsp;303A of the Corporate Governance Rules of the New York Stock
Exchange. Our compensation committee assists the board in reviewing and approving the compensation structure of our directors and
executive officers, including all forms of compensation to be provided to our directors and executive officers. Members of the
compensation committee are not prohibited from direct involvement in determining their own compensation. Our chief executive officer
may not be present at any committee meeting during which his compensation is deliberated. The compensation committee is responsible
for, among other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>approving and overseeing the compensation package for our executive officers;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>reviewing and making recommendations to the board with respect to the compensation of our directors;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>reviewing and approving corporate goals and objectives relevant to the compensation of our chief executive officer, evaluating
the performance of our chief executive officer in light of those goals and objectives, and setting the compensation level of our
chief executive officer based on this evaluation; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>reviewing periodically and making recommendations to the board regarding any long-term incentive compensation or equity plans,
programs or similar arrangements, annual bonuses, employee pension and welfare benefit plans.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2013, our compensation committee held
meetings or passed resolutions by unanimous written consent twice, including passing resolutions regarding adjustments to directors&rsquo;
compensation and modification of option programs of certain directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Corporate Governance and Nominating Committee</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our corporate governance and nominating
committee consists of Mr.&nbsp;Shuming Zhao, Mr.&nbsp;Arthur Wong and Mr.&nbsp;Rongling Chen, and is chaired by Mr.&nbsp;Zhao.
All of our corporate governance and nominating committee members satisfy the &ldquo;independence&rdquo; requirements of Section&nbsp;303A
of the Corporate Governance Rules of the New York Stock Exchange. The corporate governance and nominating committee assists the
board of directors in identifying individuals qualified to become our directors and in determining the composition of the board
and its committees. The corporate governance and nominating committee is responsible for, among other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>identifying and recommending to the board nominees for election or re-election to the board, or for appointment to fill any
vacancy;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>reviewing annually with the board the current composition of the board in light of the characteristics of independence, age,
skills, experience and availability of service to us;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>identifying and recommending to the board the directors to serve as members of the board&rsquo;s committees;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>advising the board periodically with respect to significant developments in the law and practice of corporate governance as
well as our compliance with applicable laws and regulations, and making recommendations to the board on all matters of corporate
governance and on any corrective action to be taken; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>monitoring compliance with our code of business conduct and ethics, including reviewing the adequacy and effectiveness of our
procedures to ensure proper compliance.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2013, our corporate governance and nominating
committee did not hold meetings or pass resolutions by unanimous written consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Interested Transactions</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A director may vote in respect of any contract
or transaction in which he or she is interested, provided that the nature of the interest of any directors in such contract or
transaction is disclosed by him or her at or prior to its consideration and any vote on that matter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Remuneration and Borrowing</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The directors may determine remuneration
to be paid to the directors. The compensation committee will assist the directors in reviewing and approving the compensation structure
for the directors. Subject to our Third Amended and Restated Memorandum and Articles of Association, the directors may exercise
all the powers of our company to borrow money and to mortgage or charge its undertaking, property and uncalled capital, and to
issue debentures or other securities whether outright or as security for any debt obligations of our company or of any third party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Qualification</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There is no shareholding qualification for
directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Employment Agreements</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have entered into an employment agreement
with each of our executive officers. The terms of the employment agreements are substantially similar for each executive officer,
except as noted below. We may terminate an executive officer&rsquo;s employment for cause, at any time, without notice or remuneration,
for certain acts of the officer including, but not limited to, a serious criminal act, willful misconduct to our detriment or a
failure to perform agreed duties. We may terminate employment at any time without cause upon advance written notice to the executive.
The executive may resign at any time if such resignation is approved by the board or an alternative arrangement with respect to
the employment is agreed by the board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each executive officer has agreed to hold,
both during and after the termination of his or her employment agreement, in strict confidence and not to use, except as required
in the performance of his or her duties in connection with the employment or as compelled by law, any of our or our customers&rsquo;
confidential information or trade secrets. Each executive officer also agrees to comply with all material applicable laws and regulations
related to his or her responsibilities at our company as well as all material written corporate and business policies and procedures
of our company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each executive officer has agreed to be
bound by non-competition restrictions during the term of his or her employment and for two years following the termination of such
employment agreement. Specifically, each executive officer has agreed not to (1)&nbsp;assume employment with or provide services
as a director for any of our competitors who operate in a restricted area; (2)&nbsp;solicit or seek any business orders from our
customers; or (3)&nbsp;seek directly or indirectly, to solicit the services of any of our employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">D.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;&#9;Employees</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of December 31, 2013, we employed 1,330
employees, including 761 in manufacturing, 196 in equipment maintenance, 91 in quality assurance, 20 in purchasing, 68 in research
and development, 11 in sales and marketing and 144 in general and administrative. In addition, we engaged independent contractors
and temporary personnel from time to time. All of these employees and independent contractors are located at our facilities in
Chongqing and Xinjiang, China. As of December 31, 2013, we employed approximately 39 temporary personnel through third-party contractors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We had a total of 1,845, 1,545 and 1,330
employees as of December 31, 2011, 2012 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As required by regulations in China, we
participate in various employee social security plans that are administered by municipal and provincial governments, including
housing, pension, medical insurance and unemployment insurance. We are required under Chinese law to make contributions to the
employee benefit plans at specified percentages of the salaries, bonuses and certain allowance of our employees, up to a maximum
amount specified by the local government from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We typically enter into a standard confidentiality
and employment agreement with our research and development personnel. These contracts involve a covenant that prohibits them from
engaging in any activities that compete with our business within certain agreed period after the termination of their employment
with us, and during such non-competition period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We believe we maintain a good working relationship
with our employees, and we have not experienced any labor disputes or any difficulty in recruiting staff for our operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">E.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;Share Ownership</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth information
with respect to the beneficial ownership of our ordinary shares, as of the date of this annual report, by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>each of our directors and executive officers; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>each person known to us to own beneficially more than 5.0% of our ordinary shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The calculations in the table below are
based on 173,427,853 ordinary shares outstanding as of the date of this annual report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Beneficial ownership is determined in accordance
with the rules and regulations of the SEC. In computing the number of shares beneficially owned by a person and the percentage
ownership of that person, we have included shares that the person has the right to acquire within 60 days of the date of this annual
report, including through the exercise of any option, warrant or other right or the conversion of any other security. These shares,
however, are not included in the computation of the percentage ownership of any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Ordinary Shares Beneficially Owned</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Number</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>%</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Directors and Executive Officers:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="width: 74%; padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Guangfu Xu<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">40,075,000</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23.0</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Xiang Xu<SUP>(2)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15,551,250</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8.9</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Dafeng Shi<SUP>(3)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6,180,834</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.5</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Fumin Zhuo <SUP>(4)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">14,106,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8.1</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Gongda Yao<SUP>(5)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Rongling Chen<SUP>(6)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Minsong Liang<SUP>(7)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Shuming Zhao<SUP>(8)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Arthur Wong<SUP>(9)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Tracy Tianqun Zhou<SUP>(10)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Guoping Zhu<SUP>(11)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bing Sun<SUP>(12)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">All directors and executive officers as a group&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">77,944,501</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">44.7</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Principal Shareholders:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Gold Intellect Limited<SUP>(13)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">39,000,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">22.5</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Plenty China Limited<SUP>(14)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">14,820,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8.5</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Granite Global Ventures III L.P.<SUP>(15)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11,885,641</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.9</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">NewMargin Growth Fund, L.P.<SUP>(16)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11,615,513</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.7</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ruian International Limited<SUP>(17)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10,890,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.3</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Best Mount International Limited<SUP>(18)</SUP>&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8,760,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.1</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">____________________________</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*&#9;Beneficially owns less than 1% of our ordinary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Consists of 39,000,000 shares held by Gold Intellect Limited, a British Virgin Islands company wholly owned and controlled
by Mr.&nbsp;Guangfu Xu, and 1,075,000 shares issuable upon exercise of options held by Mr.&nbsp;Xu that are exercisable within
60 days of the date of this annual report. Mr.&nbsp;Guangfu Xu&rsquo;s business address is c/o No.&nbsp;11, Daquan Road, Xinba,
Yangzhong, Jiangsu Province, PRC. Mr.&nbsp;Guangfu Xu is the chairman of the board of directors of our company and he is the father
of Mr.&nbsp;Xiang Xu.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Consists of 14,820,000 shares held by Plenty China Limited, a British Virgin Islands company wholly owned and controlled by
Mr.&nbsp;Xiang Xu, and 731,250 shares issuable upon exercise of options held by Mr.&nbsp;Xu that are exercisable within 60 days
of the date of this annual report. Mr.&nbsp;Xiang Xu&rsquo;s business address is c/o No.&nbsp;11, Daquan Road, Xinba, Yangzhong,
Jiangsu Province, PRC. Mr.&nbsp;Xiang Xu is a director of our company and he is the son of Mr.&nbsp;Guangfu Xu.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>Consists of 5,449,584 shares held by Lucky Prosper Investments Limited, a British Virgin Islands company wholly owned and controlled
by Mr. Dafeng Shi, and 731,250 shares issuable upon exercise of options held by Mr.&nbsp;Shi that are exercisable within 60 days
of the date of this annual report. Mr.&nbsp;Dafeng Shi&rsquo;s business address is c/o No.&nbsp;11, Daquan Road, Xinba, Yangzhong,
Jiangsu Province, PRC. Mr. Shi is a director of our company.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD>Consists of (1)&nbsp;11,695,471 ordinary shares held by Granite Global Ventures III L.P., (2)&nbsp;190,170 ordinary shares
held by GGV III Entrepreneurs Fund L.P., and (3)&nbsp;2,161,026 ordinary shares held by Venture Star Investment (HK) Limited and
(4) 60,000 shares issuable upon exercise of options held by Mr.&nbsp;Zhuo that are exercisable within 60 days of the date of this
annual report. Mr. Zhuo is a managing director of Granite Global Ventures III L.L.C., which is the sole general partner of Granite
Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Mr.&nbsp;Zhuo is also the chairman of Venture Star Investment (HK)
Limited. Mr.&nbsp;Zhuo disclaims beneficial ownership of the shares beneficially owned by Granite Global Ventures III L.P., GGV
III Entrepreneurs Fund L.P. and Venture Star Investment (HK) Limited except to the extent of his pecuniary interests therein. Mr.&nbsp;Zhuo&rsquo;s
business address is c/o Granite Global Ventures III L.P., 2494 Sand Hill Road, Suite 100, Menlo Park, CA 94025, United States.
Mr.&nbsp;Zhuo is a director of our company.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(5)</TD><TD>The business address for Mr.&nbsp;Yao is No.666, Longdu Avenue, Wanzhou District, Chongqing City, PRC.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(6)</TD><TD>The business address of Mr.&nbsp;Chen is No.585, Jianguoxi Road, Shanghai, PRC.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(7)</TD><TD>The business address of Mr.&nbsp;Liang is Room 806, Tower C, Vantone Center, No.&nbsp;6 Chaoyangmenwai Street, Chaoyang District,
Beijing, PRC.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(8)</TD><TD>The business address of Mr.&nbsp;Zhao is 2002 Anzhong Building, School of Business, Nanjing University, 16 Jinyin Jie, Nanjing,
PRC.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(9)</TD><TD>The business address for Mr.&nbsp;Wong is Room 906, 16<SUP>th</SUP> Floor, Huamao Building, No.&nbsp;89 Jianguo Road, Chaoyang
District, Beijing, PRC.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(10)</TD><TD>The business address of Dr.&nbsp;Zhou is No.666, Longdu Avenue, Wanzhou District, Chongqing City, PRC.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(11)</TD><TD>The business address of Mr.&nbsp;Zhu is No.666, Longdu Avenue, Wanzhou District, Chongqing City, PRC.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(12)</TD><TD>The business address of Mr.&nbsp;Sun is No.666, Longdu Avenue, Wanzhou District, Chongqing City, PRC.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(13)</TD><TD>Gold Intellect Limited is a company incorporated in the British Virgin Islands wholly owned by Mr.&nbsp;Guangfu Xu. Its registered
office is at c/o 11 Daquan Road, Xinba, Yangzheng, Jiangsu Province, PRC. Mr.&nbsp;Guangfu Xu has the sole voting and dispositive
power over the shares of our company held by Gold Intellect Limited.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(14)</TD><TD>Plenty China Limited is a company incorporated in the British Virgin Islands wholly owned by Mr.&nbsp;Xiang Xu. Its registered
office is at c/o 11 Daquan Road, Xinba, Yangzheng, Jiangsu Province, PRC. Mr.&nbsp;Xiang Xu has the sole voting and dispositive
power over the shares of our company held by Plenty China Limited.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(15)</TD><TD>Consists of 11,695,471 ordinary shares held by Granite Global Ventures III L.P., and 190,170 ordinary shares held by GGV III
Entrepreneurs Fund L.P. in the form of our ADSs. Granite Global Ventures L.L.C. is the sole general partner of Granite Global Ventures
III L.P. and GGV III Entrepreneurs Fund L.P. Scott Bonham, Hany Nada, Glenn Soloman, Thomas Ng, Jixun Foo, Jenny Lee, Jessie Jin
and Fumin Zhuo are managing directors of Granite Global Ventures L.L.C. and share voting and dispositive power over all such shares
held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. These individuals disclaim beneficial ownership of
the shares beneficially owned by the above entities except to the extent of their pecuniary interests therein. The business address
of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. is 2494 Sand Hill Road, Suite 100, Menlo Park, CA 94025,
United States.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(16)</TD><TD>NewMargin Growth Ventures LLC is the sole general partner of NewMargin Growth Fund, L.P. Messrs. Tao Feng, Greg W. Ye, Shuiwen
Zhou, Cary Zhou and Hans Xu are members of the investment committee of NewMargin Growth Ventures LLC and share voting and dispositive
power over all such shares held by NewMargin Growth Fund, L.P. These individuals disclaim beneficial ownership of the shares beneficially
owned by the above entities except to the extent of their pecuniary interests therein. NewMargin Growth Fund, L.P.&rsquo;s business
address is Radisson Plaza (Xing Guo) Hotel, 8 Xing Guo Road, Villa 3, Shanghai, China 200052.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(17)</TD><TD>Ruian International Limited is a company incorporated in the British Virgin Islands wholly owned by Mr.&nbsp;Fei Ge. Its registered
office is at c/o 11 Daquan Road, Xinba, Yangzheng, Jiangsu Province, PRC. Mr.&nbsp;Fei Ge has the sole voting and dispositive power
over the shares of our company held by Ruian International Limited.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(18)</TD><TD>Best Mount International Limited is a company incorporated in the British Virgin Islands. Its registered office is at P.O.
Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands. Best Mount International Limited&rsquo;s shareholders
are Yueping Liu, Shaoxian Ge, Sheng Xue, Xiaorong Hou, Benjiang Chang, Yuhua Jing, Jilin Ye, Jianrong Tang and Chaohui Chen and
these shareholders share voting and dispositive power over all the shares held by Best Mount International Limited.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of April 13, 2014, 173,427,853 of our
ordinary shares were issued and outstanding. To our knowledge, 57,885,640 ordinary shares, representing approximately 33.4% of
our total outstanding shares, were held by one record holder in the United States, which was JPMorgan Chase Bank, N.A., the depositary
of our ADS program. The number of beneficial owners of our ADSs in the United States is likely to be much larger than the number
of record holders of our ordinary shares in the United States. None of our directors or executive officers that are shareholders
or principal shareholders has different voting rights from other shareholders. We are not aware of any arrangement that may, at
a subsequent date, result in a change of control of our company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;7. MAJOR SHAREHOLDERS AND RELATED PARTY
TRANSACTIONS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">A.&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Major Shareholders</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Please refer to &ldquo;Item 6. Directors,
Senior Management and Employees&mdash;E. Share Ownership.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">B.&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Related Party Transactions</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Related party transactions with Daqo
Group</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2011, the Company purchased auxiliary
electricity transmission and system equipment totaling $15.8 million from Daqo Group. Daqo Group and its subsidiaries are mainly
engaged in production of High-Low-Voltage Electrical System, Components, Environmental Protection, and High-speed Railway Equipment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2011, the Company received an interest
fee loan of $3,095,120 from Daqo Group, which was fully repaid during the same year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2012, the Company sold a 100% equity
interest in Nanjing Daqo to Daqo Group for consideration of $9,888,742 and Daqo Group owed the Company $5,110,085 in connection
with this transaction as of December 31, 2013. In addition, the Company purchased fixed assets totaling $7,849,533 from Daqo Group
and had $5,359,007 due to Daqo Group as of December 31, 2012. Separately, a further $1,330,044 was prepaid to purchase fixed assets
as of December 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2013, the Company received an interest
free loan of $813,105 from Daqo Group, which was fully repaid during the same year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Related party transactions with Zhenjiang
Daqo</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2011, the Company sold $6,958,317 in
wafers, purchased cells in the amount of $3,314,115, and paid processing fees of $1,209,769 to Zhenjiang Daqo for tolling arrangements
of cells.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2012, the Company sold $2,179,723 in
wafers and $619,705 in polysilicon to Zhenjiang Daqo.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2013, the Company sold $8,871,220 in
wafers and $4,600,646 in polysilicon to Zhenjiang Daqo.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Related party transactions with Daqo
Solar</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2011, the Company received loans of $72,199,600
from Daqo Solar, which were fully repaid during the same year and accrued interest of $1,552,126. As of December&nbsp;31, 2011,
the Company provided an interest free loan of $9,898,458 to Daqo Solar.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2012, the Company entered into a polysilicon
sales contract with Daqo Solar, and $13,497,973 in advance payments was received as of December 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2013, the Company received interest free
loans of $76,881,392 from Daqo Solar and repaid $28,379,679 during the same year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Related party transactions with Xinjiang
Daqo Investment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2012, the Company entered into a polysilicon
sales contract with Xinjiang Daqo Investment, and $2,354,620 in advance payments was received as of December 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2013, the Company received interest free
loans of $58,389,643 from Xinjiang Daqo Investment and repaid $40,193,785 during the same year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Related party transactions with Nanjing
Daqo</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In August 2012, the Company entered into
a one-year loan agreement with Nanjing Daqo, to lend Nanjing Daqo $1,584,820 (RMB10 million). The interest rate is fixed at 6%.
In addition, the Company also sold $80,126 in cells to Nanjing Daqo.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2013, the Company agreed with Nanjing
Daqo to extend the loan for one more year, interest free.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Related party transactions with other
subsidiaries of Daqo Group</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2011, the Company purchased auxiliary
electricity transmission and system equipment of $2.0 million from Daqo Group subsidiaries. The Company also sold modules of $427,302
to, purchased raw materials of $300,574 from and paid service fees of $71,426 to other subsidiaries of Daqo Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2012, the Company purchased equipment
and raw material from other subsidiaries of Daqo Group at the cost of $202,556 and $5,282, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2013, the Company purchased equipment
from other subsidiaries of Daqo Group at the cost of $157,742.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Employment Agreements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">See &ldquo;Item 6. Directors, Senior Management
and Employees&mdash;C. Board Practices&mdash;Employment Agreements.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Share Incentives</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">See &ldquo;Item 6. Directors, Senior Management
and Employees&mdash;B. Compensation&mdash;Share Incentive Plan&rdquo; for a description of stock options and other stock purchase
rights we have granted to our directors, officers and other individuals as a group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">C.&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interests of Experts and Counsel</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;8. FINANCIAL INFORMATION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">A.&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated Statements and Other Financial
Information</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">See &ldquo;Item 18. Financial Statements.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Legal Proceedings</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are currently not a party to any material
legal or administrative proceedings and we are not aware of any material legal or administrative proceedings threatened against
us. We may from time to time be subject to various legal or administrative proceedings arising in the ordinary course of business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Dividend Policy</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have not declared or paid any dividends
on our ordinary shares or ADSs. We have no present plan to declare and pay any dividends on our shares or ADSs in the near future.
We currently intend to retain our available funds and any future earnings to operate and expand our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are a holding company incorporated in
the Cayman Islands. We rely on dividends from our subsidiaries in China for our cash needs. Current PRC regulations restrict the
ability of our subsidiaries to pay dividends to us. See &ldquo;Item 3. Key Information&mdash;D. Risk Factors&mdash;Risks Relating
to Doing Business in China&mdash;We rely principally on dividends and other distributions on equity paid by our wholly owned operating
subsidiaries to fund any cash and financing requirements we may have, and any limitation on the ability of our operating subsidiaries
to pay dividends to us could have a material adverse effect on our ability to borrow money or pay dividends.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to our Third Amended and Restated
Memorandum and Articles of Association and the applicable laws, our board of directors has complete discretion as to whether to
recommend a distribution of dividends to shareholders, and any distribution is further subject to the approval of our shareholders.
Even if our board of directors decides to recommend dividends, the form, frequency and amount will depend upon our future operations
and earnings, capital requirements and surplus, general financial condition, contractual restrictions and other factors that our
board of directors may deem relevant. If we pay dividends, we will pay our ADS holders to the same extent as holders of our ordinary
shares, subject to the terms of the deposit agreement, including the fees and expenses payable thereunder. Cash dividends on our
ADSs and ordinary shares, if any, will be paid in U.S. dollars.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">B.&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Significant Changes</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as disclosed elsewhere in this annual
report, we have not experienced any significant changes since the date of our audited consolidated financial statements included
in this annual report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;9. THE OFFER AND LISTING</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">A.&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Offering and Listing Details</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our ADSs, each representing 25 ordinary
shares, have been listed on the New York Stock Exchange since October&nbsp;7, 2010 and trade under the symbol &ldquo;DQ.&rdquo;
Prior to December&nbsp;21, 2012, each of our ADS represented five ordinary shares. We effected a change of the ADS to ordinary
share ratio on December&nbsp;21, 2012 from one ADS representing five ordinary shares to one ADS representing 25 ordinary shares.
The ratio change had the same effect as a 1-for-5 reverse ADS split. The following table provides the high and low trading prices
for our ADSs on the New York Stock Exchange for the periods indicated. For ease of comparison, the ADS prices before December&nbsp;21,
2012 have been retroactively adjusted to reflect the ADS to ordinary share ratio change that took effect on December&nbsp;21, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Trading Price</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 5.4pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>High</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Low</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Annual High and Low</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="width: 74%; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2010 (from October&nbsp;7, 2010)&#9;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">77.15</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">48.50</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">74.85</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7.05</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2012&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">20.75</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.40</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2013&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">49.59</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.02</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Quarterly Highs and Lows</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">First Quarter of 2012&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">20.75</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8.75</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Second Quarter of 2012&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.75</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.90</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Third Quarter of 2012&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.10</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.70</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Fourth Quarter of 2012&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9.66</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.40</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">First Quarter of 2013&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">16.70</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.65</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Second Quarter of 2013&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.66</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.02</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Third Quarter of 2013&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">34.80</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7.60</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Fourth Quarter of 2013&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">49.59</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23.10</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">First Quarter of 2014&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">56.98</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">33.71</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Monthly Highs and Lows</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">October 2013&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">43.13</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23.10</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">November 2013&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">49.59</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">31.10</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 2013&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">39.21</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">29.75</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January 2014&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">47.13</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">33.71</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">February 2014&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">46.06</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">38.66</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">March 2014&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">56.98</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">35.60</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April 2014 (through April&nbsp;11, 2014)&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">46.75</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">39.43</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><B>B.&#9;&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plan of Distribution</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">C.&#9;&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markets</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">See &ldquo;&mdash;A. Offering and Listing
Details.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">D.&#9;&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling Shareholders</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">E.&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;Dilution</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">F.&#9;&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expenses of the Issue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;10. ADDITIONAL INFORMATION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">A.&#9;&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share Capital</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">B.&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;Memorandum and Articles of Association</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are a Cayman Islands company and our
affairs are governed by our memorandum and articles of association, as amended from time to time, and the Companies Law of the
Cayman Islands, as amended from time to time, which is referred to as the Companies Law below. The following are summaries of material
provisions of our Third Amended and Restated Memorandum and Articles of Association in effect as of the date of this annual report
insofar as they relate to the material terms of our ordinary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Board of Directors</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are managed by a board of directors which
shall consist of no less than five members. Our board of directors currently consists of nine members. An appointment of a director
may be in terms that the director shall automatically retire at the next or a subsequent annual general meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Meetings of the board of directors may be
convened at any time deemed necessary by any members of the board of directors in accordance with our Third Amended and Restated
Memorandum and Articles of Association.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A meeting of the board of directors shall
be competent to make lawful and binding decisions if a quorum is present. Under our Third Amended and Restated Memorandum and Articles
of Association, the quorum necessary for the transaction of the business of our board of directors may be fixed by the board of
directors and unless so fixed shall be a majority of the directors then in office. At any meeting of the directors, each director,
be it by his presence or by his alternate, is entitled to one vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Questions arising at a meeting of the board
of directors are required to be decided by simple majority votes of the members of the board of directors present or represented
at the meeting. In the case of a tie vote, the resolution shall fail. Our board of directors may also pass resolutions without
a meeting by unanimous written consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">See also &ldquo;Item 6. Directors, Senior
Management and Employees&mdash;C. Board Practices&mdash;Duties of Directors&rdquo; and &ldquo;&mdash;Terms of Directors and Executive
Officers.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Ordinary Shares</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">General</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All of our outstanding ordinary shares are
fully paid and non-assessable. Certificates representing the ordinary shares are issued in registered form. Our shareholders who
are non-residents of the Cayman Islands may freely hold and vote their shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Dividend Rights</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The holders of our ordinary shares are entitled
to such dividends as may be declared by our board of directors subject to the Companies Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Voting Rights</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each ordinary share is entitled to one vote
on all matters upon which the ordinary shares are entitled to vote. Voting at any meeting of shareholders is by show of hands unless
a poll is demanded. A poll may be demanded by the chairman of our board of directors or any other shareholder holding at least
ten percent of the shares given a right to vote at the meeting, present in person or by proxy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A quorum required for a meeting of shareholders
consists of at least shareholders holding not less than an aggregate of one-third of all voting share capital of our company in
issue present in person or by proxy and entitled to vote. Shareholders&rsquo; meetings may be held annually and may be convened
by our board of directors on its own initiative or upon a request to the directors by shareholders holding in aggregate not less
than one third of our share capital as at that date carries the right of voting at general meeting of our company. Advance notice
of at least seven days is required for the convening of our annual general meeting and other shareholders meetings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">An ordinary resolution to be passed by the
shareholders requires the affirmative vote of a simple majority of the votes attaching to the ordinary shares cast in a general
meeting, while a special resolution requires the affirmative vote of no less than two-thirds of the votes cast attaching to the
ordinary shares. A special resolution is required for important matters such as a change of name. Holders of the ordinary shares
may effect certain changes by ordinary resolution, including alter the amount of our authorized share capital, consolidate and
divide all or any of our share capital into shares of larger amount than our existing share capital, and cancel any shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Transfer of Shares</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the restrictions of our Third
Amended and Restated Memorandum and Articles of Association, as applicable, any of our shareholders may transfer all or any of
his or her ordinary shares by an instrument of transfer in the usual or common form or any other form approved by our board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our board of directors may, in its absolute
discretion, decline to register any transfer of any ordinary share which is not fully paid up or on which we have a lien. Our directors
may also decline to register any transfer of any ordinary share unless (a)&nbsp;the instrument of transfer is lodged with us, accompanied
by the certificate for the ordinary shares to which it relates and such other evidence as our board of directors may reasonably
require to show the right of the transferor to make the transfer; (b)&nbsp;the shares conceded are free of any lien in favor of
us; or (c)&nbsp;a fee of such maximum sum as the New York Stock Exchange may determine to be payable, or such lesser sum as our
board of directors may from time to time require, is paid to us in respect thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If our directors refuse to register a transfer,
they shall, within two months after the date on which the instrument of transfer was lodged, send to each of the transferor and
the transferee notice of such refusal. The registration of transfers may, on 14 days&rsquo; notice being given by advertisement
in such one or more newspapers or by electronic means, be suspended and the register closed at such times and for such periods
as our board of directors may from time to time determine, provided, however, that the registration of transfers shall not be suspended
nor the register closed for more than 30 days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Liquidation</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On a return of capital on winding up or
otherwise (other than on conversion, redemption or purchase of shares), assets available for distribution among the holders of
ordinary shares shall be distributed among the holders of the ordinary shares on a pro rata basis. If our assets available for
distribution are insufficient to repay all of the paid-up capital, the assets will be distributed so that the losses are borne
by our shareholders proportionately.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Redemption of Shares</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the provisions of the Companies
Law, we may issue shares on terms that are subject to redemption, at our option or at the option of the holders, on such terms
and in such manner as may be determined by special resolution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Variations of Rights of Shares</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All or any of the special rights attached
to any class of shares may, subject to the provisions of the Companies Law, be varied either with the written consent of the holders
of three-fourths of the issued shares of that class or with the sanction of a special resolution passed at a general meeting of
the holders of the shares of that class.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Inspection of Books and Records</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Holders of our ordinary shares will have
no general right under Cayman Islands law to inspect or obtain copies of our list of shareholders or our corporate records. However,
we will provide our shareholders with annual audited financial statements. See &ldquo;&mdash;H. Documents on Display.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Limitations on the Right to Own Shares</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There are no limitations on the right to
own our shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Disclosure of Shareholder Ownership</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There are no provisions in our amended and
restated memorandum and articles of association governing the ownership threshold above which shareholder ownership must be disclosed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Demand Registration Rights and Form F-3
Registration Rights</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">When we are eligible for registration on
Form F-3, holders of at least 10% of our outstanding registrable securities have the right to request that we file registration
statements under Form F-3 covering the offer and sale of their securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We, however, are not obligated to effect
a demand registration or a Form F-3 registration if, among other things, (1)&nbsp;we notify the requesting holder of the registrable
securities of our intention to make a public offering within 180 days, (2)&nbsp;the dollar amount of securities to be sold is of
an aggregate price to the public of less than $5,000,000, or (3)&nbsp;we provide the requesting holders a certificate signed by
our chief executive officer stating that in the good faith judgment of the board of directors the filing of such a registration
statement will be materially detrimental to us and our shareholders. In the case of (3), we cannot exercise the deferral right
more than once in any 12-month period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">No Sinking Fund</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our ordinary shares are not subject to sinking
fund provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">C.&#9;&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Material Contracts</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have not entered into any material contracts
other than in the ordinary course of business and other than those described in &ldquo;Item 4. Information on the Company&mdash;B.
Business Overview&rdquo; or elsewhere in this annual report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">D.&#9;&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exchange Controls</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">See &ldquo;Item 4. Information on the Company&mdash;B.
Business Overview&mdash;Regulation&mdash;Foreign Currency Exchange.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">E.&#9;&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxation</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following discussion of the material
Cayman Islands, PRC and United States federal tax consequences of an investment in the ordinary shares or ADSs is based upon laws
and relevant interpretations thereof in effect as of the date of this annual report, all of which are subject to change. This discussion
does not deal with all possible tax consequences relating to an investment in the shares or ADSs, such as the tax consequences
under U.S. state, local and other tax laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Cayman Islands Taxation</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Cayman Islands currently levies no taxes
on individuals or corporations based upon profits, income, gains or appreciation and there is no taxation in the nature of inheritance
tax or estate duty. There are no other taxes likely to be material to us levied by the Government of the Cayman Islands except
for stamp duties which may be applicable on instruments executed in, or brought within the jurisdiction of the Cayman Islands.
The Cayman Islands is not party to any double tax treaties. There are no exchange control regulations or currency restrictions
in the Cayman Islands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Chinese Taxation</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the PRC tax laws effective prior to
January&nbsp;1, 2008, dividends paid to foreign investors by foreign-invested enterprises, such as dividends paid to us by our
PRC subsidiaries, were exempt from PRC withholding tax. Under the PRC Enterprise Income Tax Law and its implementation rules effective
on January&nbsp;1, 2008, all domestic and foreign-invested companies in China are subject to a uniform enterprise income tax at
the rate of 25% and dividends from a PRC subsidiary to its foreign parent company are subject to a withholding tax at the rate
of 10%, unless such foreign parent company&rsquo;s jurisdiction of incorporation has a tax treaty with China that provides for
a reduced rate of withholding tax, or the tax is otherwise exempted or reduced pursuant to the PRC tax laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the EIT Law, enterprises organized
under the laws of jurisdictions outside China with their &ldquo;de facto management bodies&rdquo; located within China are considered
PRC resident enterprises and therefore be subject to PRC enterprise income tax at the rate of 25% on their worldwide income. Under
the implementation rules of the EIT Law, &ldquo;de facto management bodies&rdquo; is defined as the bodies that have material and
overall management and control over the business operations, personnel and human resources, finances and treasury, and acquisition
and disposition of properties and other assets of an enterprise. In addition, a circular issued by the State Administration of
Taxation on April&nbsp;22, 2009 provides that a &ldquo;foreign enterprise controlled by a PRC company or a PRC company group&rdquo;
will be classified as a &ldquo;resident enterprise&rdquo; with its &ldquo;de facto management bodies&rdquo; located within China
if the following requirements are satisfied: (i)&nbsp;the senior management and core management departments in charge of its daily
operations function mainly in the PRC; (ii)&nbsp;its financial and human resources decisions are subject to determination or approval
by persons or bodies in the PRC; (iii)&nbsp;its major assets, accounting books, company seals, and minutes and files of its board
and shareholders&rsquo; meetings are located or kept in the PRC; and (iv)&nbsp;more than half of the enterprise&rsquo;s directors
or senior management with voting rights reside in the PRC. However, it remains unclear how PRC tax authority will treat an overseas
company controlled by PRC natural persons rather than PRC enterprises like Daqo Cayman. The criteria set forth above do not apply
to Daqo Cayman directly because Daqo Cayman is currently beneficially owned by Chinese individuals and is not a &ldquo;foreign
enterprise controlled by a PRC company or a PRC company group.&rdquo; However, such criteria may be considered relevant in determining
Daqo Cayman&rsquo;s residence. Therefore, we cannot assure you that Daqo Cayman will not be deemed a PRC resident enterprise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If Daqo Cayman were classified as a PRC
resident enterprise under the EIT Law, enterprise ADS holders who are not Chinese residents may be subject to a 10% withholding
tax (20% in the case of individual ADS holders who are not Chinese residents) upon dividends payable by Daqo Cayman, and 10% tax
on gains realized upon the sale or other disposition of our ADSs (20% in the case of individual ADS holders who are not Chinese
residents). In addition, the EIT law and regulations also provide that, if a resident enterprise directly invests in another resident
enterprise, the dividends received by the investing resident enterprise from the invested resident enterprise are exempted from
income tax, subject to certain conditions. Therefore, if Daqo Cayman is classified as resident enterprise under the EIT Law, the
dividends we receive from our Chinese subsidiaries may be exempted from withholding tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Material United States Federal Income Tax Considerations</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following is a discussion of the material
United States federal income tax considerations relating to the acquisition, ownership, and disposition of our ADSs or ordinary
shares by U.S. Holders (as defined below) that will hold ADSs or ordinary shares as &ldquo;capital assets&rdquo; (generally, property
held for investment) under the United States Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;). This discussion
is based upon existing U.S. federal income tax law as in effect on the date of this annual report, which is subject to differing
interpretations or change, possibly with retroactive effect. This discussion does not address all aspects of United States federal
income taxation that may be important to particular investors in light of their individual investment circumstances, including
investors subject to special tax rules (for example, financial institutions, insurance companies, broker-dealers, partnerships
and their partners, and tax-exempt organizations (including private foundations)), investors who are not U.S. Holders, investors
who own (directly, indirectly, or constructively) 10% or more of our voting stock, investors that will hold their ADSs or ordinary
shares as part of a straddle, hedge, conversion, constructive sale, or other integrated transaction for United States federal income
tax purposes, investors that are traders in securities that have elected the mark-to-market method of accounting, or investors
that have a functional currency other than the United States dollar, all of whom may be subject to tax rules that differ significantly
from those discussed below. In addition, this discussion does not address any non-United States, alternative minimum tax, state,
or local tax considerations or the Medicare tax. Each U.S. Holder is urged to consult its tax advisor regarding the United States
federal, state, local, and non-United States income and other tax considerations of an investment in ADSs or ordinary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">General</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For purposes of this discussion, a &ldquo;U.S.
Holder&rdquo; is a beneficial owner of our ADSs or ordinary shares that is, for United States federal income tax purposes, (i)&nbsp;an
individual who is a citizen or resident of the United States, (ii)&nbsp;a corporation, or other entity taxable as a corporation
for United States federal income tax purposes, created in, or organized under the law of the United States or any state thereof
or the District of Columbia, (iii)&nbsp;an estate the income of which is includible in gross income for United States federal income
tax purposes regardless of its source, or (iv)&nbsp;a trust (A)&nbsp;the administration of which is subject to the primary supervision
of a United States court and which has one or more United States persons who have the authority to control all substantial decisions
of the trust or (B)&nbsp;that has otherwise validly elected to be treated as a United States person under the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If a partnership (or other entity treated
as a partnership for United States federal income tax purposes) is a beneficial owner of our ADSs or ordinary shares, the tax treatment
of a partner in the partnership will generally depend upon the status of the partner and the activities of the partnership. Partnerships
and partners of a partnership holding our ADSs or ordinary shares are urged to consult their tax advisors regarding an investment
in our ADSs or ordinary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For United States federal income tax purposes,
a U.S. Holder of ADSs will generally be treated as the beneficial owner of the underlying shares represented by the ADSs. Accordingly,
deposits or withdrawals of ordinary shares for ADSs will generally not be subject to United States federal income tax. The United
States Treasury has expressed concerns that parties to whom American depositary shares are released before shares are delivered
to the depositary (a &ldquo;pre-release transaction&rdquo;), or intermediaries in the chain of ownership between holders of American
depositary shares and the issuer of the security underlying the American depositary shares, may be taking actions that are inconsistent
with the claiming of foreign tax credits by holders of American depositary shares. These actions would also be inconsistent with
the claiming of the reduced rate of tax, described below, applicable to dividends received by certain non-corporate holders. Accordingly,
the creditability of any PRC taxes, and the availability of the reduced tax rate for dividends received by certain non-corporate
U.S. Holders, each described below, could be affected by actions taken by such parties or intermediaries in respect of a pre-release
transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Passive Foreign Investment Company Considerations</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A non-United States corporation, such as
our company, will be classified as a &ldquo;passive foreign investment company&rdquo; (or a &ldquo;PFIC&rdquo;), for United States
federal income tax purposes for any taxable year, if either (i)&nbsp;75% or more of its gross income for such year consists of
certain types of &ldquo;passive&rdquo; income or (ii)&nbsp;50% or more of the value of its assets (determined on the basis of a
quarterly average) produce or are held for the production of passive income. For this purpose, cash and assets readily convertible
into cash are categorized as passive assets and the company&rsquo;s unbooked intangibles are generally taken into account for determining
the value of its assets. We will be treated as owning our proportionate share of the assets and earning our proportionate share
of the income of any other corporation in which we own, directly or indirectly, more than 25% (by value) of the stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We do not believe that we were a PFIC, for
United States federal income tax purposes, for the taxable year ended 2013. Although we do not currently expect that our assets
or activities will change in a manner that would cause us to become a PFIC for our current taxable year or the foreseeable future,
there can be no assurance our business plans will not change in a manner that will affect our PFIC status. Because there are uncertainties
in the application of the relevant rules and PFIC status is a fact-intensive determination made on an annual basis, no assurance
can be given that we are not or will not become classified as a PFIC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The discussion below under &ldquo;Dividends&rdquo;
and &ldquo;Sale or Other Disposition of ADSs or Ordinary Shares&rdquo; is written on the basis that we will not be classified as
a PFIC for United States federal income tax purposes. The United States federal income tax rules that apply if we are classified
as a PFIC for the current taxable year or any subsequent taxable year are generally discussed below under &ldquo;Passive Foreign
Investment Company Rules.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Dividends</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the PFIC rules discussed below,
any cash distributions (including the amount of any taxes withheld) paid on ADSs or ordinary shares out of our current or accumulated
earnings and profits, as determined under United States federal income tax principles, will generally be includible in the gross
income of a U.S. Holder as dividend income on the day actually or constructively received by the depositary in the case of ADSs
or by a U.S. Holder in the case of ordinary shares. Because we do not intend to determine our earnings and profits on the basis
of United States federal income tax principles, any distribution paid will generally be reported as a &ldquo;dividend&rdquo; for
United States federal income tax purposes. A non-corporate recipient will be subject to tax at the lower capital gain tax rate
applicable to &ldquo;qualified dividend income,&rdquo; provided that certain conditions are satisfied, including that (1)&nbsp;the
ADSs or ordinary shares, as applicable, are readily tradable on an established securities market in the United States, or, in the
event that our company is deemed to be a PRC resident enterprise under the PRC Enterprise Income Tax Law, our company is eligible
for the benefits of the United States-PRC treaty, (2)&nbsp;we are neither a passive foreign investment company nor treated as such
with respect to you (as discussed below) for the taxable year in which the dividend was paid and the preceding taxable year, and
(3)&nbsp;certain holding period requirements are met. United States Treasury guidance indicates that ordinary shares, or ADSs representing
such shares, are considered for the purpose of clause (1)&nbsp;above to be readily tradable on an established securities market
in the United States if they are listed on the New York Stock Exchange, as are our ADSs (but not our ordinary shares). There can
be no assurance that our ADSs will be considered readily tradable on an established securities market in the United States in later
years. Since we do not expect that our ordinary shares will be listed on an established securities market in the United States,
it is unclear whether the dividends that we pay on our ordinary shares that are not backed by ADSs currently meet the conditions
required for the reduced tax rate. Dividends received on the ADSs or ordinary shares are not expected to be eligible for the dividends
received deduction allowed to corporations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Dividends will generally be treated as income
from foreign sources for United States foreign tax credit purposes. In the event that we are deemed to be a PRC &ldquo;resident
enterprise&rdquo; under the PRC Enterprise Income Tax Law, a U.S. Holder may be subject to PRC withholding taxes on dividends paid
on our ADSs or ordinary shares. A U.S. Holder may be eligible, subject to a number of complex limitations, to claim a foreign tax
credit in respect of any foreign withholding taxes imposed on dividends received on ADSs or ordinary shares. A U.S. Holder who
does not elect to claim a foreign tax credit for foreign tax withheld may instead claim a deduction for United States federal income
tax purposes, in respect of such withholdings, but only for a year in which such holder elects to do so for all creditable foreign
income taxes. The rules governing the foreign tax credits are complex. Accordingly, each U.S. Holder is advised to consult with
its tax advisor regarding the availability of a foreign tax credit under its particular circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Sale or Other Disposition of ADSs or
Ordinary Shares</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the PFIC rules discussed below,
a U.S. Holder will generally recognize capital gain or loss upon the sale or other disposition of ADSs or ordinary shares in an
amount equal to the difference between the amount realized upon the disposition and the holder&rsquo;s adjusted tax basis in such
ADSs or ordinary shares. Any capital gain or loss will be long-term if the ADSs or ordinary shares have been held for more than
one year and will generally be United States source gain or loss for United States foreign tax credit purposes. Long-term capital
gain of noncorporate U.S. Holders is generally eligible for a reduced rate of tax. The deductibility of a capital loss may be subject
to limitations. In the even that we are treated as a PRC &ldquo;resident enterprise&rdquo; under the PRC Enterprise Income Tax
Law and gain from the disposition of ADSs or ordinary shares is subject to the tax in the PRC, a U.S. Holder that is eligible for
the benefits of the income tax treaty between the United States and the PRS may elect to treat the gain as PRC source income. U.S.
Holders are urged to consult with their tax advisors regarding the tax consequences if a foreign withholding tax is imposed on
a disposition of our ADSs or ordinary shares, including the availability of a foreign tax credit under their particular circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Passive Foreign Investment Company</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If we are classified as a PFIC for any taxable
year during which a U.S. Holder holds our ADSs or ordinary shares, and unless the U.S. Holder makes a mark-to-market election (as
described below), the U.S. Holder will generally be subject to special tax rules that have a penalizing effect, regardless of whether
we remain a PFIC, on (i)&nbsp;any excess distribution that we make to the U.S. Holder (which generally means any distribution paid
during a taxable year to a U.S. Holder that is greater than 125 percent of the average annual distributions paid in the three preceding
taxable years or, if shorter, the U.S. Holder&rsquo;s holding period for the ADSs) or ordinary shares and (ii)&nbsp;any gain realized
on the sale or other disposition, including a pledge, of ADSs or ordinary shares. Under these PFIC rules:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>such excess distribution or gain will be allocated ratably over the U.S. Holder&rsquo;s holding period for the ADSs or ordinary
shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the amount allocated to the current taxable year, and any taxable years in the U.S. Holder&rsquo;s holding period prior to
the first taxable year in which we were a PFIC (a &ldquo;pre-PFIC year&rdquo;), will be taxable as ordinary income;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the amount allocated to each prior taxable year, other than a pre-PFIC year, will be subject to tax at the highest tax rate
in effect applicable to the U.S. Holder for each such year; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an interest charge generally applicable to underpayments of tax will be imposed on the tax attributable to each prior taxable
year, other than a pre-PFIC year.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A U.S. Holder of &ldquo;marketable stock&rdquo;
(as defined below) in a PFIC may make a mark-to-market election for such stock to elect out of the tax treatment discussed above.
If a U.S. Holder makes a mark-to-market election for the ADSs (but not our ordinary shares), such holder will include in income
for each year that we are treated as a PFIC with respect to such holder an amount equal to the excess, if any, of the fair market
value of the ADSs as of the close of the holder&rsquo;s taxable year over the holder&rsquo;s adjusted basis in such ADSs. A U.S.
Holder will be allowed a deduction for the excess, if any, of the adjusted basis of the ADSs over their fair market value as of
the close of the taxable year. However, deductions will be allowable only to the extent of any net mark-to-market gains on the
ADSs included in a U.S. Holder&rsquo;s income for prior taxable years. Amounts included in a U.S. Holder&rsquo;s income under a
mark-to-market election, as well as gain on the actual sale or other disposition of the ADSs, will be treated as ordinary income.
Ordinary loss treatment will also apply to the deductible portion of any mark-to-market loss on the ADSs, as well as to any loss
realized on the actual sale or disposition of the ADSs, to the extent that the amount of such loss does not exceed the net mark-to-market
gains previously included for such ADSs. A U.S. Holder&rsquo;s basis in the ADSs will be adjusted to reflect any such income or
loss amounts. If a U.S. Holder makes a valid mark-to-market election, the tax rules that apply to distributions by corporations
which are not PFICs would apply to distributions by us, except that the lower capital gains rate applicable to qualified dividend
income (discussed above under &ldquo;&mdash;Dividends&rdquo;) would not apply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The mark-to-market election is available
only for &ldquo;marketable stock,&rdquo; which is stock that is traded in other than de minimis quantities on at least 15 days
during each calendar quarter (&ldquo;regularly traded&rdquo;) on a qualified exchange or other market, as defined in applicable
United States Treasury regulations. Our ADSs are listed on the New York Stock Exchange, which is a qualified exchange or market
for these purposes. Consequently, if the ADSs continue to be listed on the New York Stock Exchange and are regularly traded, and
a U.S. Holder holds ADSs, we expect that the mark-to-market election would be available to such U.S. Holder were we to be or become
a PFIC. Because a mark-to-market election cannot be made for equity interests in any lower-tier PFICs that we own, a U.S. Holder
may continue to be subject to the PFIC rules with respect to its indirect interest in any investments held by us that are treated
as an equity interest in a PFIC for United States federal income tax purposes. In the case of a U.S. Holder who has held ADSs during
any taxable year in respect of which we were classified as a PFIC and continues to hold such ADSs (or any portion thereof) and
has not previously determined to make a mark-to-market election, and who is now considering making a mark-to-market election, special
tax rules may apply relating to purging the PFIC taint of such ADSs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We do not intend to prepare or provide the
information that would enable a U.S. Holder to make a qualified electing fund election (&ldquo;QEF Election&rdquo;), which, if
available, would result in tax treatment different from the general tax treatment for PFICs described above. Accordingly, each
U.S. Holder should assume that the QEF Election will not be available.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If a U.S. Holder holds ADSs or ordinary
shares in any year in which we are treated as a PFIC with respect to such U.S. Holder, the U.S. Holder would generally be required
to file United States Internal Revenue Service Form 8621. U.S. Holders are urged to consult their tax advisors regarding the application
of the PFIC rules to their investment in ADSs or ordinary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Information Reporting and Backup Withholding</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">U.S. Holders may be subject to information
reporting to the Internal Revenue Service with respect to dividends on and proceeds from the sale or other disposition of our ADSs
or ordinary shares. Dividend payments with respect to our ADS or ordinary shares and proceeds from the sale or other disposition
of our ADSs or common shares are not generally subject to United States backup withholding (provided that certain certification
requirements are satisfied). Each U.S. Holder is advised to consult its tax advisor regarding the application of the United States
information reporting and backup withholding rules to its particular circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Individuals and certain others who are U.S.
Holders, and who hold &ldquo;specified foreign financial assets,&rdquo; including stock of a non-U.S. corporation that is not held
in an account maintained by a U.S. &ldquo;financial institution,&rdquo; whose aggregate value exceeds $50,000 during the tax year,
may be required to attach to their tax return for the year certain specified information. A U.S. Holder who fails to timely furnish
the required information may be subject to a penalty. Each U.S. Holder is advised to consult its tax advisor regarding its reporting
obligations under this legislation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">F.&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;Dividends and Paying Agents</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">G.&#9;&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Statement by Experts</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">H.&#9;&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Documents on Display</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are subject to the periodic reporting
and other informational requirements of the Securities Exchange Act of 1934 or the Exchange Act. Under the Exchange Act, we are
required to file reports and other information with the SEC. Specifically, we are required to file annually a Form 20-F (1)&nbsp;within
six months after the end of each fiscal year, which is December&nbsp;31, for fiscal years ending before December&nbsp;15, 2011;
and (2)&nbsp;within four months after the end of each fiscal year for fiscal years ending on or after December&nbsp;15, 2011. The
SEC maintains a website at www.sec.gov that contains reports, proxy and information statements, and other information regarding
registrants that make electronic filings with the SEC using its EDGAR system. Copies of reports and other information, when filed,
may also be inspected without charge and may be obtained at prescribed rates at the public reference facilities maintained by the
SEC at 100 F Street, N.E., Room 1580, Washington, D.C. 20549. The public may obtain information regarding the Washington, D.C.
Public Reference Room by calling the SEC at 1-800-SEC-0330. As a foreign private issuer, we are exempt from the rules under the
Exchange Act prescribing the furnishing and content of quarterly reports and proxy statements, and officers, directors and principal
shareholders are exempt from the reporting and short-swing profit recovery provisions contained in Section&nbsp;16 of the Exchange
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will furnish JPMorgan Chase Bank, N.A.,
the depositary of our ADSs, with our annual reports, which will include a review of operations and annual audited consolidated
financial statements prepared in conformity with U.S. GAAP, and all notices of shareholders&rsquo; meetings and other reports and
communications that are made generally available to our shareholders. The depositary will make such notices, reports and communications
available to holders of ADSs and, upon our request, will mail to all record holders of ADSs the information contained in any notice
of a shareholders&rsquo; meeting received by the depositary from us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">I.&#9;&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subsidiary Information</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For a listing of our subsidiaries, see &ldquo;Item
4. Information on the Company&mdash;C. Organizational Structure.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;11. QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Interest Rate Risk</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our exposure to interest rate risk primarily
relates to interest expense incurred on our short-term and long-term borrowings and interest income generated by excess cash which
is mostly held in interest-bearing bank deposits. We have not used any derivative financial instruments to manage our interest
rate risk exposure. As of December 31, 2013, we had outstanding long-term bank borrowings of $184.9 million mostly bearing floating
rates which are subject to adjustment every 12 months based upon the PRC government&rsquo;s standard interest rate. The weighted
average interest rate as of December 31, 2013 for the long-term bank borrowings was 7.2%. We are currently not engaged in any interest
rate hedging activities. A hypothetical five percentage point increase in interest rates would have resulted in an increase of
approximately $9.2 million in our interest expense for the year ended December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Foreign Exchange Risk</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Substantially all of our revenues and most
of our expenses are denominated in RMB. Our exposure to foreign exchange risk primarily relates to (1)&nbsp;the Euro or U.S. dollar
income or that we may generate in the future for sale of our photovoltaic products in the international market, (2)&nbsp;the U.S.
dollar proceeds of a small portion of our initial public offering in October 2010, most or substantially all of which we expect
to convert into RMB over time for the uses discussed under &ldquo;Item 14. Material Modifications to the Rights of Security Holders
Use of Proceeds&rdquo; and (3)&nbsp;the U.S. dollar and Euro denominated equipment purchase prices that we need to pay from time
to time. We believe the impact of foreign currency risk is not material and we have not used any forward contracts, currency borrowings
or derivative instruments to hedge our exposure to foreign currency exchange risk. Although in general our exposure to foreign
exchange risks should be limited, the value of your investment in our ADSs will be affected by the foreign exchange rate between
U.S. dollars and RMB because the value of our business is effectively denominated in RMB, while we use the U.S. dollar as our functional
and reporting currency and the ADSs will be traded in U.S. dollars. The value of the RMB against the U.S. dollar and other currencies
is affected by, among other things, changes in China&rsquo;s political and economic conditions and China&rsquo;s foreign exchange
policies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To the extent that we need to convert
U.S. dollars into RMB for our operations, acquisitions or other uses within China, appreciation of the RMB against the U.S.
dollar would have an adverse effect on the RMB amount we receive from the conversion. To the extent that we seek to convert
RMB into U.S. dollars, depreciation of the RMB against the U.S. dollar would have an adverse effect on the U.S. dollar amount
we receive from the conversion. As of December 31, 2013, we had RMB-denominated cash, cash equivalents and short-term
investments of RMB69.4 million and U.S. dollar-denominated cash, cash equivalents and short-term investments of $5.3 million.
Assuming we had converted the U.S. dollar-denominated cash, cash equivalents and short-term investments of $5.3 million into
RMB at the exchange rate of $1.00 for RMB6.054 as of December 31, 2013, this cash, cash equivalents and short-term
investments would have been RMB32.1 million. Assuming a 10% appreciation of the RMB against the U.S. dollar, this cash, cash
equivalents and short-term investments would have decreased to RMB28.9 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;12. DESCRIPTION OF SECURITIES OTHER
THAN EQUITY SECURITIES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">A.&#9;&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt Securities</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">B.&#9;&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Warrants and Rights</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">C.&#9;&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Securities</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">D.&#9;&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Depositary Shares</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Fees and Charges Our ADS Holders May Have to
Pay</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As an ADS holder, you will be required to
pay the following service fees to the depositary bank:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The depositary may charge each person to
whom ADSs are issued, including, without limitation, issuances against deposits of shares, issuances in respect of share distributions,
rights and other distributions, issuances pursuant to a stock dividend or stock split declared by us or issuances pursuant to a
merger, exchange of securities or any other transaction or event affecting the ADSs or deposited securities, and each person surrendering
ADSs for withdrawal of deposited securities or whose ADSs are cancelled or reduced for any other reason, $5.00 for each 100 ADSs
(or any portion thereof) issued, delivered, reduced, cancelled or surrendered, as the case may be. The depositary may sell (by
public or private sale) sufficient securities and property received in respect of a share distribution, rights and/or other distribution
prior to such deposit to pay such charge.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following additional charges shall be
incurred by the ADS holders, by any party depositing or withdrawing shares or by any party surrendering ADSs or to whom ADSs are
issued (including, without limitation, issuance pursuant to a stock dividend or stock split declared by us or an exchange of stock
regarding the ADSs or the deposited securities or a distribution of ADSs), whichever is applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a fee of $1.50 per ADR or ADRs for transfers of certificated or direct registration ADRs;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a fee of up to $0.05 per ADS for any cash distribution made pursuant to the deposit agreement;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a fee of up to $0.05 per ADS per calendar year (or portion thereof) for services performed by the depositary in administering
the ADRs (which fee may be charged on a periodic basis during each calendar year and shall be assessed against holders of ADRs
as of the record date or record dates set by the depositary during each calendar year and shall be payable in the manner described
in the next succeeding provision);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>reimbursement of such fees, charges and expenses as are incurred by the depositary and/or any of the depositary&rsquo;s agents
(including, without limitation, the custodian and expenses incurred on behalf of holders in connection with compliance with foreign
exchange control regulations or any law or regulation relating to foreign investment) in connection with the servicing of the shares,
the delivery of deposited securities or otherwise in connection with the depositary&rsquo;s or its custodian&rsquo;s compliance
with applicable law, rule or regulation (which charge shall be assessed on a proportionate basis against holders as of the record
date or dates set by the depositary and shall be payable at the sole discretion of the depositary by billing such holders or by
deducting such charge from one or more cash dividends or other cash distributions);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a fee for the distribution of securities (or the sale of securities in connection with a distribution), such fee being in an
amount equal to the fee for the execution and delivery of ADSs which would have been charged as a result of the deposit of such
securities (treating all such securities as if they were shares) but which securities or the net cash proceeds from the sale thereof
are instead distributed by the depositary to those holders entitled thereto;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>stock transfer or other taxes and other governmental charges;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>cable, telex and facsimile transmission and delivery charges incurred at your request in connection with the deposit or delivery
of shares;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>transfer or registration fees for the registration of transfer of deposited securities on any applicable register in connection
with the deposit or withdrawal of deposited securities; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>expenses of the depositary in connection with the conversion of foreign currency into U.S. dollars.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">ADR holders must pay any tax or other governmental
charge payable by the custodian or the depositary on any ADS or ADR, deposited security or distribution. If an ADR holder owes
any tax or other governmental charge, the depositary may (i)&nbsp;deduct the amount thereof from any cash distributions, or (ii)&nbsp;sell
deposited securities (by public or private sale) and deduct the amount owing from the net proceeds of such sale. In either case
the ADR holder remains liable for any shortfall. Additionally, if any tax or governmental charge is unpaid, the depositary may
also refuse to effect any registration, registration of transfer, split-up or combination of deposited securities or withdrawal
of deposited securities until such payment is made. If any tax or governmental charge is required to be withheld on any cash distribution,
the depositary may deduct the amount required to be withheld from any cash distribution or, in the case of a non-cash distribution,
sell the distributed property or securities (by public or private sale) to pay such taxes and distribute any remaining net proceeds
to the ADR holders entitled thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will pay all other charges and expenses
of the depositary and any agent of the depositary (except the custodian) pursuant to agreements from time to time between us and
the depositary. The depositary collects its fees for issuance and cancellation of ADSs directly from investors depositing shares
or surrendering ADSs for the purpose of withdrawal or from intermediaries acting for them. The depositary collects fees for making
distributions to investors by deducting those fees from the amounts distributed or by selling a portion of distributable property
to pay the fees. The depositary may collect its annual fee for depositary services by deduction from cash distributions, or by
directly billing investors, or by charging the book-entry system accounts of participants acting for them. The depositary may generally
refuse to provide services to any holder until the fees and expenses owing by such holder for those services or otherwise are paid.
The charges described above may be amended from time to time by agreement between us and the depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Fees and Other Payments Made by the Depositary
to Us</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The depositary bank may reimburse us for
certain expenses incurred by us in respect of the ADR program established pursuant to the deposit agreement, by making available
a set amount or a portion of the depositary fees charged in respect of the ADR program or otherwise, upon such terms and conditions
as we and the depositary bank may agree from time to time. For the year ended December 31, 2013, we have received US$496,132.84
from the depository as reimbursement for our expenses incurred in connection with the establishment and maintenance of the ADS
program. In December 2012, we instructed the depositary bank to change the ratio of shares of our company by each ADS from five
shares to twenty five shares per ADS. In accordance with the agreement between our company and the depositary bank, the latter
ceased any reimbursement and waives, and charged &ldquo;Termination/Revision Fees&rdquo; of $1 million to our company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">PART II</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;13. DEFAULTS, DIVIDEND ARREARAGES AND
DELINQUENCIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;14. MATERIAL MODIFICATIONS TO THE RIGHTS
OF SECURITY HOLDERS AND USE OF PROCEEDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following &ldquo;Use of Proceeds&rdquo;
information relates to the registration statement on Form F-1, as amended (File Number 333-164307) for our initial public offering
of 9,200,000 ADSs, representing 46,000,000 ordinary shares, which registration statement was declared effective by the SEC on October
6, 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of December 31, 2013, we have used all
of the net proceeds received from our initial public offering. We estimate that we used approximately $69.5 million to expand our
polysilicon manufacturing facilities; and approximately $10.0 million to finance capital expenditures for our wafer manufacturing
business. None of the payments described in this Item were direct or indirect payments to our directors, officers, general partners
or their associates, or any persons owning 10% or more of our ordinary shares, or our affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;15. CONTROLS AND PROCEDURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Disclosure Controls and Procedures</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We maintain disclosure controls and procedures
designed to provide reasonable assurance that information required to be disclosed in reports filed under the Exchange Act is recorded,
processed, summarized and reported within the specified time periods and accumulated and communicated to our management, including
our chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.
Our management, with the participation of our chief executive officer and chief financial officer, evaluated the effectiveness
of our disclosure controls and procedures, as defined in Rules 13a-15(e) or 15d-15(e) promulgated under the Exchange Act, at December
31, 2013. Based on that evaluation, our chief executive officer and chief financial officer concluded that, as of that date, our
disclosure controls and procedures required by Rules 13a-15(b) or 15d-15(b) were effective as of December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Management&rsquo;s Report On Internal Control
Over Financial Reporting</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our management is responsible for establishing
and maintaining adequate internal control over financial reporting, as such term is defined in Rules 13a-15(f) and 15d-15(f) under
the Exchange Act of 1934. Our internal control over financial reporting is a process designed to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of consolidated financial statements in accordance with U.S. GAAP. Because
of its inherent limitations, a system of internal control over financial reporting may not prevent or detect misstatements. Projections
of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes
in conditions, or that the degree of compliance with the policies and procedures may deteriorate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our management conducted an assessment of
the effectiveness of our internal control over financial reporting as of December 31, 2013. In making this assessment, it used
the criteria established within the Internal Control&mdash;Integrated Framework issued by the Committee of Sponsoring Organizations
of the Treadway Commission (COSO). Based on this assessment, our management has concluded that, as of December 31, 2013, our internal
control over financial reporting was effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Changes in Internal Control over Financial Reporting</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There have not been any changes in
our internal control over financial reporting in the year ended December 31, 2013, which have materially affected, or are reasonably
likely to materially affect, our internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;16A. AUDIT COMMITTEE FINANCIAL EXPERT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our board of directors has determined that
Mr.&nbsp;Arthur Wong, an independent director (under the standards set forth in Section&nbsp;303A of the Corporate Governance Rules
of the New York Stock Exchange and Rule 10A-3 under the Exchange Act), and the chairman of our audit committee, is our audit committee
financial expert.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;16B. CODE OF ETHICS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our board of directors has adopted a code
of ethics that applies to our directors, officers, employees and agents, including certain provisions that specifically apply to
our chief executive officer, chief financial officer, chief marketing officer, chief operating officer, chief technology officer,
vice presidents and any other persons who perform similar functions for us. We have posted a copy of our code of business conduct
and ethics on our website at http://dqsolar.investorroom.com/.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;ITEM&nbsp;16C. PRINCIPAL ACCOUNTANT FEES
AND SERVICES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth the aggregate
fees by categories specified below in connection with certain professional services rendered by Deloitte Touche Tohmatsu Certified
Public Accountants LLP, our independent registered public accounting firm, for the periods indicated. We did not pay any other
fees to our independent registered public accounting firm during the periods indicated below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Year&nbsp;Ended&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-size: 10pt; font-weight: bold; text-align: center">(in US$ thousands)</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%; font-size: 10pt; padding-left: 5.4pt"><font style="font-size: 10pt">Audit fees<sup>(1)</sup>&#9;</font></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">900</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">700</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">700</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 5.4pt"><font style="font-size: 10pt">Tax fees<sup>(2)</sup>&#9;</font></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&mdash;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>&ldquo;Audit fees&rdquo; means the aggregate fees billed for professional services rendered by our independent registered public
accounting firm for the audit of our annual financial statements and the review of our comparative interim financial statements.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>&ldquo;Tax fees&rdquo; represents the aggregate fees billed for professional services rendered by our independent registered
public accounting firm for tax compliance, tax advice, and tax planning.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The policy of our audit committee is to
pre-approve all audit and non-audit services provided by Deloitte Touche Tohmatsu Certified Public Accountants LLP, including audit
services, audit-related services, tax services and other services as described above, other than those for de minimis services
which are approved by the audit committee prior to the completion of the audit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;16D. EXEMPTIONS FROM THE LISTING STANDARDS
FOR AUDIT COMMITTEES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;16E. PURCHASES OF EQUITY SECURITIES
BY THE ISSUER AND AFFILIATED PURCHASERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On July&nbsp;23, 2013, our board of directors
authorized a share repurchase program, whereby our company may repurchase of up to US$3 million of our ordinary shares or ADSs
from July&nbsp;23, 2013 to July 22, 2014. The share repurchase program was publicly announced on July&nbsp;23, 2013. The following
table sets forth some additional information about our repurchases made under this program as of the date of this annual report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Total Number&nbsp;of ADSs Purchased</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Average&nbsp;Price Paid&nbsp;per&nbsp;ADS ($)</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Total&nbsp;Number of&nbsp;ADSs Purchased&nbsp;as Part of Publicly Announced Plans or Programs</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Maximum Dollar Value of ADSs that May Yet be Purchased Under the Plans or Programs ($)</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 48%; font-size: 10pt; padding-left: 0">July 23, 2013 &mdash; July 31, 2013&#9;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">0</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 0">August 1, 2013 &mdash; August 31, 2013&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-left: 0">September 1, 2013 &mdash; September 30, 2013&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 0">October 1, 2013 &mdash; October 31, 2013&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-left: 0">November 1, 2013 &mdash; November 30, 2013&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 0">December 1, 2013 &mdash; December&nbsp;31, 2013&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-left: 0">Total&#9;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;16F. CHANGE IN REGISTRANT&rsquo;S CERTIFYING
ACCOUNTANT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;16G. CORPORATE GOVERNANCE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Certain corporate governance practices in
the Cayman Islands, which is our home country, differ significantly from the New York Stock Exchange corporate governance listing
standards. For example, neither the Companies Law of the Cayman Islands nor our memorandum and articles of association requires
a majority of our directors to be independent and we could include non-independent directors as members of our compensation committee
and nominating committee, and our independent directors would not necessarily hold regularly scheduled meetings at which only independent
directors are present. Currently, we do not plan to rely on home country practice with respect to our corporate governance. However,
if we choose to follow home country practice in the future, our shareholders may be afforded less protection than they otherwise
would under the New York Stock Exchange corporate governance listing standards applicable to U.S. domestic issuers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;16H. MINE SAFETY DISCLOSURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">PART III</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM&nbsp;17. FINANCIAL STATEMENTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have elected to provide financial statements
pursuant to &ldquo;Item 18. Financial Statements.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM 18. FINANCIAL STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The consolidated financial statements of
Daqo New Energy Corp. are included at the end of this annual report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ITEM 19. EXHIBITS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <TD STYLE="width: 10%; padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><b>Exhibit
        Number</b></P></td>
    <TD STYLE="width: 90%; padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><b>Description
        of Document</b></P></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">1.1</font></td>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">Third Amended and Restated Memorandum and Articles of Association of the Registrant (incorporated herein by reference to Exhibit 4.2 to the registration statement on Form F-1, as amended (File No. 333-164307))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">2.1*</font></td>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">Deposit Agreement among the Registrant, JPMorgan Chase Bank, N.A. as depositary, and holders and beneficial owners of American Depositary Shares evidenced by American Depositary Receipts issued thereunder</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">2.2*</font></td>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><FONT STYLE="font-size: 10pt">Amendment No.
1 to Deposit Agreement among Daqo New Energy Corp. and JPMorgan Chase Bank, N.A. as depositary, and holders of American Depositary
Receipts</FONT></td></tr>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center; border-bottom: Black 1pt solid"><B>Exhibit Number</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center; border-bottom: Black 1pt solid"><B>Description
    of Document</B></TD></TR>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center; width: 9%"><font style="font-size: 10pt">4.1</font></td>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt; width: 90%"><font style="font-size: 10pt">2009 Share Incentive Plan (incorporated herein by reference to Exhibit 10.1 to the registration statement on Form F-1, as amended (File No. 333-164307))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.2</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">Form of Indemnification Agreement with the Registrant&rsquo;s directors and officers (incorporated herein by reference to Exhibit 10.2 to the registration statement on Form F-1, as amended (File No. 333-164307))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.3</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">Form of Employment Agreement between the Registrant and an Executive Officer of the Registrant (incorporated herein by reference to Exhibit 10.3 to the registration statement on Form F-1, as amended (File No. 333-164307))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.4</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">English translation of the Loan Agreement between Daqo New Material and China Construction Bank, Wanzhou Branch dated as of September&nbsp;30, 2007 (incorporated herein by reference to Exhibit 10.19 to the registration statement on Form F-1, as amended (File No. 333-164307))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.5</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">English translation of the Loan Agreement between Daqo New Material and China Construction Bank, Wanzhou Branch dated as of February&nbsp;28, 2008 (incorporated herein by reference to Exhibit 10.20 to the registration statement on Form F-1, as amended (File No. 333-164307))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.6</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">English translation of the Loan Agreement between Chongqing Daqo and China Construction Bank, Wanzhou Branch dated as of January&nbsp;21, 2009 (incorporated herein by reference to Exhibit 10.22 to the registration statement on Form F-1, as amended (File No. 333-164307))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.7</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">English translation of the Syndicated Loan Agreement among Chongqing Daqo, China Construction Bank, Chongqing Branch, China Construction Bank, Wanzhou Branch, and China Merchants Bank, Chongqing Jiangbei Sub-branch dated as of August&nbsp;28, 2009 (incorporated herein by reference to Exhibit 10.25 to the registration statement on Form F-1, as amended (File No. 333-164307))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.8</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">English translation of the Supplemental Agreement to the Syndicated Loan Agreement among Chongqing Daqo, China Construction Bank, Chongqing Branch, China Construction Bank, Wanzhou Branch, China Merchants Bank, Chongqing Jiangbei Sub-branch, China CITIC Bank, Chongqing Branch, Daqo Group, Guangfu Xu and Xiang Xu dated as of December&nbsp;10, 2009, pursuant to which China CITIC Bank joined the bank syndicate as a lender (incorporated herein by reference to Exhibit 10.26 to the registration statement on Form F-1, as amended (File No. 333-164307))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.9</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">English translation of the Trademark License Agreement among Daqo Group, Chongqing Daqo and Nanjing Daqo dated as of May&nbsp;8, 2009 (incorporated herein by reference to Exhibit 10.27 to the registration statement on Form F-1, as amended (File No. 333-164307))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.10</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">Non-Competition Agreement among Daqo Group, Daqo Cayman (formerly known as Mega Stand International Limited) and Chongqing Daqo dated as of July&nbsp;1, 2008 (incorporated herein by reference to Exhibit 10.28 to the registration statement on Form F-1, as amended (File No. 333-164307))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.13</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">English translation of Construction Contract Between Xinjiang Daqo New Energy Co., Ltd. and China National Chemical Engineering Third Construction Co., Ltd. dated as of January 2011 (Incorporated herein by reference to Exhibit 4.40 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission April&nbsp;25, 2011 (File No. 001-34602))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.14</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">English translation of Construction Contract Between Xinjiang Daqo New Energy Co., Ltd. and China National Chemical Engineering Third Construction Co., Ltd. dated as of March 2011 (Incorporated herein by reference to Exhibit 4.41 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission April&nbsp;25, 2011 (File No. 001-34602))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.15</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">English translation of the Loan Agreement between Xinjiang Daqo and Bank of China, Shihezi Branch dated as of September&nbsp;30, 2011 (incorporated herein by reference to Exhibit 4.22 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 30, 2012 (File No. 001-34602))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.16</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">English translation of the Loan Agreement between Chongqing Daqo and Chongqing Rural Commercial Bank dated as of October&nbsp;26, 2011 (incorporated herein by reference to Exhibit 4.23 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 30, 2012 (File No. 001-34602))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.17</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">English translation of the short-term Syndicated Loan Agreement among Chongqing Daqo, China Construction Bank, Wanzhou Branch and China Everbright Bank, Chongqing Branch dated March&nbsp;1, 2011 (incorporated herein by reference to Exhibit 4.24 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 30, 2012 (File No. 001-34602))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.18</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">English translation of the Loan Agreement between Chongqing Daqo and Huaxia Bank, Wanzhou Branch dated October&nbsp;20, 2011 (incorporated herein by reference to Exhibit 4.25 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 30, 2012 (File No. 001-34602))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.19</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">English translation of the Loan Agreement between Chongqing Daqo and Huaxia Bank, Wanzhou Branch dated October&nbsp;26, 2011 (incorporated herein by reference to Exhibit 4.26 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 30, 2012 (File No. 001-34602))</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><font style="font-size: 10pt">4.20</font></td>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt"><font style="font-size: 10pt">English translation of the Supplemental Agreement between Chongqing Daqo and Daqo New Material entered into in December 2012 with respect to the Amended and Restated Lease Agreement (incorporated herein by reference to Exhibit 4.20 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 23, 2013 (File No. 001-34602)) </font></td></tr>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="margin: 0"></P>
<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit<BR>
Number</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;<B>Description of Document</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.21*</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 87%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">English summary of Comprehensive credit agreement
    with Everbright Bank dated as of March 20, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.22*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">English summary of Loan agreement with Everbright Bank dated as of March 20, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.23*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">English summary of Loan agreement with China Construction Bank dated as of April 17, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.24*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">English summary of Loan agreement with China Construction Bank dated as of November 6, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.25*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">English summary of Loan agreement with Chongqing Three Gorges Bank dated as of December 18, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.26*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">English translation of Lease Contract (Revised Edition) between Daqo New Material and Chongqing Daqo effective as of January 1, 2009</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.27*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">English translation of Lease Contract between Daqo New Material and Chongqing Daqo effective as of January 1, 2012</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.28*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">English translation of Supplemental Agreement to the Lease Contract between Daqo New Material and Chongqing Daqo effective as of October 1, 2012</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.29*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">English translation of Supplemental Agreement to the Lease Contract between Daqo New Material and Chongqing Daqo effective as of January 1, 2014</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; width: 12%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8.1*</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 87%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Subsidiaries of the Registrant</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Code of Business Conduct and Ethics of the Registrant (incorporated herein by reference to Exhibit 99.1 to the registration statement on Form F-1, as amended (File No. 333-164307))</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12.1*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CEO Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12.2*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CFO Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13.1**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CEO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13.2**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CFO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15.1*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consent of Deloitte Touche Tohmatsu Certified Public Accountants LLP</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">101.INS**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">XBRL Instance Document</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">101.SCH**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">XBRL Taxonomy Extension Schema Document</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">101.CAL**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">XBRL Taxonomy Extension Calculation Linkbase Document</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">101.DEF**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">XBRL Taxonomy Extension Definition Linkbase Document</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">101.LAB**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">XBRL Taxonomy Extension Label Linkbase Document</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">101.PRE**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">XBRL Taxonomy Extension Presentation Linkbase Document</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*&#9;Filed with this annual report on Form 20-F</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">**&#9;Furnished with this annual report on Form 20-F</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The registrant hereby certifies that it
meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this annual
report on its behalf.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>DAQO NEW ENERGY CORP.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 99%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Gongda Yao</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:</FONT>&nbsp;&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Gongda Yao</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: April 14, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INDEX TO CONSOLIDATED FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="width: 85%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Report
    of Independent Registered Public Accounting Firm</FONT></TD>
    <TD STYLE="width: 15%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">F-2</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consolidated Balance
    Sheets as of December&nbsp;31, 2012 and 2013</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">F-3&nbsp;&ndash; F-4</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consolidated Statements
    of Operations for the Years Ended December&nbsp;31, 2011, 2012 and 2013</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">F-5</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consolidated Statements
    of Comprehensive Income (Loss) for the Years Ended December&nbsp;31, 2011, 2012 and 2013</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">F-6</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consolidated Statements
    of Changes in Equity for the Years Ended December&nbsp;31, 2011, 2012 and 2013</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">F-7</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consolidated Statements
    of Cash Flows for the Years Ended December&nbsp;31, 2011, 2012 and 2013</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">F-8&nbsp;&ndash;&nbsp;F-9</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Notes to Consolidated
    Financial Statements for the Years Ended December&nbsp;31, 2011, 2012 and 2013</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">F-10&nbsp;&ndash;&nbsp;F-38</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Financial Statement
    Schedule I</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">F-39 &ndash;&nbsp;F-43</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.5pt; text-indent: -11.5pt">TO THE BOARD OF DIRECTORS
AND SHAREHOLDERS OF</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.5pt; text-indent: -11.5pt">DAQO NEW ENERGY CORP.:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">We have audited the accompanying consolidated
balance sheets of Daqo New Energy Corp. and its subsidiaries and variable interest entity (the &ldquo;Company&rdquo;) as of December&nbsp;31,
2012, and 2013, and the related consolidated statements of operations, comprehensive income (loss), changes in equity, and cash
flows for each of the three years in the period ended December&nbsp;31, 2013 and the related financial statement schedule included
in Schedule I. These financial statements and financial statement schedule are the responsibility of the Company&rsquo;s management.
Our responsibility is to express an opinion on the financial statements and financial statement schedule based on our audits.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">We conducted our audits in accordance with
the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits
included consideration of internal control over financial reporting as a basis for designing the audit procedures that are appropriate
in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company&rsquo;s internal control
over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide
a reasonable basis for our opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In our opinion, such consolidated financial
statements present fairly, in all material respects, the financial position of Daqo New Energy Corp. and its subsidiaries and variable
interest entity as of December&nbsp;31, 2012, and 2013, and the results of their operations and their cash flows for each of the
three years in the period ended December&nbsp;31, 2013, in conformity with accounting principles generally accepted in the United
States of America. Also, in our opinion, such financial statement schedule, when considered in relation to the basic consolidated
financial statements taken as a whole, presents fairly, in all material respects, the information set forth therein.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ DELOITTE&nbsp;TOUCHE&nbsp;TOHMATSU&nbsp;CERTIFIED
    PUBLIC ACCOUNTANTS LLP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Shanghai, China</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April&nbsp;14,
    2014</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CONSOLIDATED BALANCE SHEETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>DECEMBER 31, 2012
AND 2013&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">ASSETS:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Current assets:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-align: left; text-indent: 14.2pt">Cash and cash equivalents</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">6,679,024</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">7,831,084</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 5.7pt; padding-left: 8.5pt">Restricted cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,649,745</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,826,110</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -14.15pt; padding-left: 28.35pt">Accounts receivable, net of allowance for doubtful accounts of $1,592,467 and $7,160,782 as of December&nbsp;31, 2012 and 2013</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,822,799</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,909,662</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 5.7pt; padding-left: 8.5pt">Notes receivables</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,631,370</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,929,627</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: 5.7pt; padding-left: 8.5pt">Prepaid expenses and other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,933,967</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,870,690</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -11.3pt; padding-left: 25.5pt">Advances to suppliers</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">737,794</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">860,546</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: 5.7pt; padding-left: 8.5pt">Inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,135,522</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,500,256</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -11.3pt; padding-left: 25.5pt">Amount due from related parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,562,487</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,416,452</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: 5.7pt; padding-left: 8.5pt">Deferred tax assets - current</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">358,435</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Total current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">96,511,143</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">91,144,427</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 5.7pt; padding-left: 8.5pt">Property, plant and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">677,895,274</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">488,504,183</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -11.3pt; padding-left: 25.5pt">Prepaid land use rights</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,157,610</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,377,493</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 5.7pt; padding-left: 8.5pt">Deferred tax assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,057,066</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -11.3pt; padding-left: 25.5pt">Other non-current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,686,711</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">173,440</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">TOTAL ASSETS</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">816,307,804</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">610,199,543</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">LIABILITIES:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Current liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -11.3pt; padding-left: 25.5pt">Short-term borrowings, including current portion of long-term borrowings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">120,279,760</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">118,870,857</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 5.7pt; padding-left: 8.5pt">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,346,063</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,695,490</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -11.3pt; padding-left: 25.5pt">Notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,334,082</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,573,646</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -11.3pt; padding-left: 25.5pt">Advances from customers</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29,396,238</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,217,775</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -14.15pt; padding-left: 28.35pt">Payables for purchases of property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45,468,680</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">51,766,695</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -11.3pt; padding-left: 25.5pt">Accrued expenses and other current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,617,455</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,461,621</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -14.15pt; padding-left: 28.35pt">Amount due to related parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,708,363</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">88,537,790</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -11.3pt; padding-left: 25.5pt">Income tax payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">160,480</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">260,311,121</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">299,123,874</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: -11.3pt; padding-left: 25.5pt">Long-term borrowings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">187,520,880</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">134,870,287</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 5.7pt; padding-left: 8.5pt">Long-term payables for purchase of property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,126,255</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: 5.7pt; padding-left: 8.5pt">Advance from customers</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,924,121</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 5.7pt; padding-left: 8.5pt">Deferred government subsidies</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,472,135</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,954,700</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">475,430,391</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">472,872,982</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Commitments (Note 17)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED BALANCE SHEETS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DECEMBER 31, 2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">EQUITY:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Daqo New Energy Corp. shareholders&rsquo; equity:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Ordinary shares;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; text-indent: -14.15pt; padding-left: 28.35pt">$0.0001 per value 500,000,000 shares authorized as of
    December 31, 2012 and 2013; 175,714,103 and 175,714,103 shares issued as of December 31, 2012 and 2013, respectively and 172,877,433
    and 173,427,853 shares outstanding as of December 31, 2012 and 2013, respectively</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">17,288</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">17,343</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Additional paid in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">144,755,902</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">146,676,163</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Retained earnings (accumulated losses)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38,276,015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(32,667,469</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Accumulated other comprehensive income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,551,006</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,699,196</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in">Treasury Stock, at cost (2,836,670
    and 2,286,250 shares as of December 31, 2012 and 2013, respectively)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(494,928</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(398,672</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total Daqo New Energy Corp. shareholders&rsquo; equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">202,105,283</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">137,326,561</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Noncontrolling interest</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">138,772,130</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">340,877,413</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">137,326,561</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">TOTAL LIABILITIES AND EQUITY</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">816,307,804</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">610,199,543</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">See notes to consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED STATEMENTS OF OPERATIONS
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2011</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Revenues</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 58%; text-align: left; text-indent: 14.2pt">- Sales to third parties</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">224,781,989</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">81,929,050</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">74,903,630</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: 14.2pt">- Sales to related parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,387,590</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,799,427</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32,278,700</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 14.2pt; padding-bottom: 1pt">- Service fee</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">2,129,924</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,817,475</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total revenues</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">232,169,579</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">86,858,401</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">108,999,805</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Cost of revenues</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: 14.2pt">- Sales to third parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(138,037,240</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(121,222,871</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(123,974,774</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 14.2pt; padding-bottom: 1pt">- Sales to related parties</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(6,908,785</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(3,067,513</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(11,128,634</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total cost of revenues</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(144,946,025</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(124,290,384</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(135,103,408</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Gross profit (loss)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">87,223,554</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(37,431,983</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(26,103,603</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Operating (expenses) income:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 14.2pt">Selling, general and administrative expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(13,088,538</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,930,198</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(18,132,515</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: 14.2pt">Research and development expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(744,322</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,130,533</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,391,012</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 14.2pt">Other operating income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,029,030</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,729,301</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,420,777</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: 14.2pt">Long-lived asset impairment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(34,667,577</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(42,754,481</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(158,424,827</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total operating expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(36,471,407</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(51,085,911</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(174,527,577</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Income (loss) from operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,752,147</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(88,517,894</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(200,631,180</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,258,296</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(15,408,023</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(19,349,190</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Interest income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,846,956</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">990,117</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">149,752</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Exchange gain (loss)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">148,676</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(55,800</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,875</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Income (loss) before income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43,489,483</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(102,991,600</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(219,818,743</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Income tax expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,717,561</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(10,253,587</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,271,765</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Net income (loss) from continuing operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,771,922</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(113,245,187</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(221,090,508</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total loss from discontinued operations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(5,857,810</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,392,228</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Net Income (loss)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,914,112</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(115,637,415</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(221,090,508</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net income (loss) attributable to non-controlling interest</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,590,160</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3,708,474</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(150,147,024</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net income (loss) attributable to Daqo New Energy Corp.
    ordinary shareholders</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">33,323,952</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(111,928,941</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(70,943,484</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">NET EARNINGS (LOSS) PER ORDINARY SHARE</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: 28.35pt">&mdash;Continuing operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.22</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.63</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.41</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-indent: 28.35pt">&mdash;Discontinued operations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(0.03</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(0.01</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: 14.2pt">Basic&mdash;ordinary shares&#9;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.19</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.64</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.41</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 28.35pt">&mdash;Continuing operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.22</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.63</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.41</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: 28.35pt; padding-bottom: 1pt">&mdash;Discontinued operations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(0.03</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(0.01</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: 14.2pt">Diluted&mdash;ordinary shares</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.19</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.64</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.41</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">ORDINARY SHARES USED IN CALCULATING EARNINGS PER ORDINARY SHARE</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Basic&mdash;ordinary shares</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">175,714,103</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">175,067,343</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">173,068,420</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Diluted&mdash;diluted shares</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">175,714,103</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">175,067,343</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">173,068,420</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">See notes to consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED STATEMENTS OF COMPREHENSIVE
INCOME (LOSS)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 58%; text-align: left">Net income (loss)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">34,914,112</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">(115,637,415</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">(221,090,508</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other comprehensive income:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Foreign currency translation adjustments</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">18,483,256</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,838,790</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,543,033</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total other comprehensive income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">18,483,256</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,838,790</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,543,033</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Comprehensive income (loss)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53,397,368</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(111,798,625</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(215,547,475</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Comprehensive income (loss) attributable to noncontrolling interest</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,906,161</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,075,866</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(148,752,181</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Comprehensive income (loss) attributable to Daqo New Energy Corp. shareholders</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">45,491,207</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(109,722,759</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(66,795,294</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">See notes to consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED STATEMENTS OF CHANGES IN
EQUITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 7pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">Ordinary shares</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Treasury <BR>
Stock</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Additional<BR> paid in<BR> capital</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 7pt"><B>Retained</B><BR> <B>earnings</B></FONT></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 7pt"><B>Accumulated</B></FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 7pt"><B>other</B><BR> <B>comprehensive</B><BR> <B>income</B></FONT></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Noncontrolling<BR> interest</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">$</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 28%">Balance at January&nbsp;1, 2011</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">175,714,103</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">17,571</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">140,305,556</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">116,881,004</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">6,276,868</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">132,941,835</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">396,422,834</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Net income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,323,952</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,590,160</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,914,112</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other comprehensive income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,167,255</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,316,001</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,483,256</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Share-based compensation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,206,025</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,206,025</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Balance at December&nbsp;31, 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">175,714,103</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,571</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">142,511,581</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">150,204,956</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,444,123</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">140,847,996</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">452,026,227</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Net loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(111,928,941</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,708,474</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(115,637,415</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other comprehensive income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,206,182</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,632,608</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,838,790</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Share-based compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,249,834</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,249,834</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Stock Repurchases</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,836,670</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(283</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(494,928</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,513</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(500,724</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Disposal of Nanjing Daqo New Energy Co., Ltd.</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(1,099,299</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(1,099,299</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Balance at December&nbsp;31, 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">172,877,433</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,288</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(494,928</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">144,755,902</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38,276,015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,551,006</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">138,772,130</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">340,877,413</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Net loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(70,943,484</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(150,147,024</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(221,090,508</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other comprehensive income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,148,190</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,394,843</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,543,033</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Share-based compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,881,401</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,881,401</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deconsolidation of Daqo New Material Co., Ltd.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,980,051</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,980,051</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Options Exercise</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">550,420</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">55</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">96,256</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">38,860</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">135,171</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Balance at December&nbsp;31, 2013</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">173,427,853</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">17,343</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(398,672</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">146,676,163</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(32,667,469</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">23,699,196</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">137,326,561</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">See notes to consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED STATEMENTS OF CASH FLOWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FOR THE YEARS ENDED
DECEMBER 31, 2011, 2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2011</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 55%; text-align: left; padding-left: 0.25in">Net income (loss)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">34,914,112</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(115,637,415</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(221,090,508</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 34.2pt">Adjustments to reconcile net income (loss) to net
    cash provided by (used in) operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Long-lived assets impairment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38,512,376</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">42,754,481</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">158,424,827</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 0.25in">Share-based compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,206,025</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,249,834</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,881,401</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.35in">Inventory write-down</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,252,701</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,821,620</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><P STYLE="margin: 0pt 0">29,905,734</P>


</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Allowance for doubtful accounts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,202,940</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">359,733</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,482,019</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Depreciation of property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">35,479,645</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,371,791</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52,250,595</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Gain on disposition of Nanjing Daqo</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,099,299</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 34.2pt">Changes in operating assets and liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.75in">Accounts receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,985,616</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,295,169</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,431,119</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.75in">Notes receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,868,419</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,633,764</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,496,473</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.75in">Prepaid expenses and other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,723,463</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(15,042,913</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29,616</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.75in">Advances to suppliers</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,279,347</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,098,761</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(122,753</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.75in">Inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(26,579,763</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,745,803</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><P STYLE="margin: 0pt 0">(25,270,470</P>


</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.5in">&nbsp;&nbsp;Amount due from related parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,390,878</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,418,601</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,853,965</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.75in">Prepaid land use rights</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(26,718,866</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(841,195</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">264,549</TD><TD STYLE="text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.75in">Other non-current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,197,546</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,645,277</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,513,271</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.75in">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,716,493</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,249,172</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,349,428</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.75in">Notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,557,116</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,776,966</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(19,760,436</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.5in">&nbsp;&nbsp;Accrued expenses and other current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,947,970</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(150,005</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">468,946</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.75in">Accrued warranty cost</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">297,244</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.75in">Income tax payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,431,902</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8,052,589</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(160,480</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.5in">&nbsp;&nbsp;Advances from customers</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8,967,939</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8,794,585</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,254,342</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.5in">&nbsp;&nbsp;Amount due to related party</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,993,223</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,047,531</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(415,960</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 52.2pt">Deferred government subsidies</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,127,831</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">618,958</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">482,563</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 52.2pt; padding-bottom: 1pt">Deferred tax assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(21,732,585</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">11,572,778</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,415,502</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Net cash provided by (used in) operating activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,857,910</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,307,234</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(16,525,817</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Investing activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Purchases of property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(252,704,147</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(105,659,395</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(32,504,507</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Increase/(decrease) in restricted cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,536,224</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">80,435</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,823,635</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Interest free loan to related parities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,898,458</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Proceeds from disposition of Nanjing Daqo</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,656,490</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.2pt; padding-bottom: 1pt">Decrease in cash on deconsolidation of Daqo New Material</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(15,241</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Net cash used in investing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(274,138,829</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(102,922,470</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(30,696,113</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: 0">Financing activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in; width: 55%">Proceeds from related parties loans</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">75,294,720</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">1,645,923</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">157,271,287</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Repayment of related parities loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(75,294,720</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(69,386,568</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Proceeds from bank borrowings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">186,558,358</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">128,047,530</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">39,200,480</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Proceeds from other borrowings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,524,560</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">35,351,511</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Repayment of bank borrowings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(71,079,431</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(103,573,459</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(113,745,197</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Repayment of other borrowings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,697,397</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Purchase and retirement of treasury shares</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(500,724</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Options exercised</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">135,171</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0">Net cash provided by financing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">112,781,530</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,143,830</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48,826,684</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0">Effect of exchange rate changes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,560,689</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">67,800</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(452,694</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Net increase (decrease) in cash and cash equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(110,938,700</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(86,018,074</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,152,060</TD><TD STYLE="text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt; padding-bottom: 1pt">Cash and cash equivalents at the beginning of the year</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">203,635,798</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">92,697,098</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">6,679,024</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 0; padding-top: 0">Cash and cash equivalents at the end of the year</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">92,697,098</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">6,679,024</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,831,084</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">See notes to consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED STATEMENTS OF CASH FLOWS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December 31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2011</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Supplemental disclosure of cash flow information:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 55%; text-align: left; padding-left: 0in">Interest paid</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">10,991,064</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">15,555,495</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">3,234,715</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0in">Income taxes paid</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">18,861,460</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8,052,589</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Disposition of Nanjing Daqo:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: 14.2pt">Total consideration</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9,888,742</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: 14.2pt">Less: amount due from Daqo Group</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(5,110,085</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: 14.2pt">Total cash consideration received</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,778,657</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: 14.2pt">Less: cash and cash equivalents disposed</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,122,167</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: 7.1pt; padding-left: 0.125in">Net cash inflow on the disposition</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,656,490</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Supplemental schedule of non-cash investing activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0in">Purchases of property, plant and equipment included in payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">41,302,426</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">46,594,935</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">51,766,695</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0in">Purchase of property, plant and equipment included in amount due to related parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">822,840</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,678,393</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">940,135</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0in">Balance netting-off agreements with different subsidiaries of Daqo Group</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11,729,514</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">See notes to consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1. ORGANIZATION AND PRINCIPAL ACTIVITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The consolidated financial statements include
the financial statements of Daqo New Energy Corp. (the &ldquo;Company&rdquo;), its wholly owned subsidiaries, Chongqing Daqo New
Energy Co., Ltd. (&ldquo;Chongqing Daqo&rdquo;), Nanjing Daqo New Energy Co., Ltd. (&ldquo;Nanjing Daqo&rdquo;) (which was disposed
to Daqo Group Co., Ltd. (&quot;Daqo Group&quot;) on September 28, 2012), Xinjiang Daqo New Energy Co., Ltd (&ldquo;Xinjiang Daqo&rdquo;),
Daqo Solar Energy North America (&ldquo;Daqo America&rdquo;) (which was liquidated in 2013) and Daqo New Energy Holdings (Canada)
Ltd.(&ldquo;Daqo Canada&rdquo;) (which was liquidated in 2013) and its consolidated variable interest entity (&ldquo;VIE&rdquo;)
Daqo New Material Co., Ltd. (&ldquo;Daqo New Material&rdquo;) (which was deconsolidated on December 31, 2013) (collectively, the
&ldquo;Group&rdquo;).</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Company was incorporated on November&nbsp;22,
2007 in the Cayman Islands. Chongqing Daqo, Nanjing Daqo and Xinjiang Daqo were incorporated by the Company on January&nbsp;14,
2008, December&nbsp;20, 2007 and February&nbsp;22, 2011, respectively, in the Peoples&rsquo; Republic of China (&ldquo;PRC&rdquo;).
Daqo America was incorporated by the Company in January 2009, in California, USA. Daqo Canada was incorporated by the Company
in April 2011, in Hamilton, Ontario, Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Daqo New Material and the Company were under
common control by Daqo New Material&rsquo;s ultimate shareholders prior to November 11, 2009. Daqo New Material was established
by Daqo Group, an affiliate of the Company on November&nbsp;16, 2006, for the primary purpose of developing a photovoltaic business.
Daqo New Material&rsquo;s activities included acquiring land use rights and constructing certain polysilicon production infrastructure,
including buildings and production machinery and equipment. Chongqing Daqo acquired additional machinery and equipment that are
used in connection with Daqo New Material&rsquo;s land and production infrastructure.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Subsequent to its establishment, Chongqing
Daqo entered into a lease agreement with Daqo New Material to rent all of Daqo New Material&rsquo;s land, production infrastructure
and machinery and equipment for the Group&rsquo;s polysilicon production. The lease period is from July&nbsp;1, 2008 to December&nbsp;31,
2013, with monthly lease payments that have been renegotiated periodically and are eliminated in consolidation. The lease agreement
also provided that if Daqo New Material transferred the ownership of the leased assets to any third party, the lease agreement
would remain effective and enforceable against the new owner. One month before the expiry of the lease period, Chongqing Daqo had
the option to renew the lease on the same terms and conditions for an additional five-year periods. Furthermore, Chongqing Daqo
has the option to purchase, or to designate any person to purchase, the leased assets at the then fair value at any time during
the lease period or within one year following the lease period, if permitted by the PRC laws and regulations. If Daqo New Material
desires to transfer the ownership of the leased assets to a third party, Chongqing Daqo has the right of first refusal to acquire
the leased assets under the same conditions. If the leased assets are transferred to a third party, the lease agreement will remain
effective and enforceable against the new owner.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Because the aggregate value of the monthly
rental payments that Chongqing Daqo is contractually obligated to make to Daqo New Material represents the majority of the value
of Daqo New Material&rsquo;s assets, Chongqing Daqo has the majority of investment risk in Daqo New Material. Further, the Group
has concluded that the arrangement results in Chongqing Daqo providing an implicit guarantee to protect Daqo Group from absorbing
losses incurred by Daqo New Energy, thus Daqo New Material is considered to be a variable interest entity of Chongqing Daqo. Furthermore,
the operating activities of Daqo New Material are most closely associated with Chongqing Daqo and the management of Chongqing Daqo
also acts as the management of Daqo New Material. Based on these factors, Chongqing Daqo has the power to control Daqo New Material
and is considered the primary beneficiary of Daqo New Material. The assets and liabilities of Daqo New Material are consolidated
at historical cost given they were held by entities under common control at the time of the lease agreement. Daqo Group&rsquo;s
total equity interests in Daqo New Material are presented as a noncontrolling interest.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">On December 31, 2013, Chongqing Daqo and
Daqo New Material terminated the lease agreement. As a result, the Company deconsolidated Daqo New Material on December 31, 2013.
As of December 31, 2013, the Company is in the process of relocating significant production assets from Daqo New Material to its
Xinjiang plant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In the periods presented, the Company manufactured
and sold polysilicon and wafers through Chongqing Daqo and Xinjiang Daqo, and sold modules through Nanjing Daqo before September
28, 2012 when Nanjing Daqo was sold to the Daqo Group.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>2. SUMMARY OF PRINCIPAL ACCOUNTING POLICIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(a) Basis of presentation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The consolidated financial statements of
the Group have been prepared in accordance with generally accepted accounting principles in the United States (&quot;U.S. GAAP&quot;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The accompanying consolidated financial
statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of
assets and the satisfaction of liabilities in the normal course of business. The realization of assets and the satisfaction of
liabilities in the normal course of business are dependent on, among other things, the Company&rsquo;s ability to generate cash
flows from operations, and the Company&rsquo;s ability to arrange adequate financing arrangements, including the renewal or rollover
of its bank borrowings, to support its working capital requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The following factors raise substantial
doubt about the Company's ability to continue as a going concern for the foreseeable future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">The solar industry is being negatively impacted by a number of factors
including excess capacity, reduction of government incentives in key solar markets and higher import tariffs. These factors have
contributed to declining average selling prices for our products. The average selling price (&quot;ASP&quot;) of polysilicon has
fallen from about $60 per kilogram (&quot;kg&quot;) in 2010 to $18 per kg in 2013. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">For the year ended December 31, 2013, the Company incurred an operating
loss of $200,631,180.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">During the year December 31, 2013, the Company experienced negative
cash flow from operations of $16,525,818, primarily as a result of the net loss incurred by the Company. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">As of December 31, 2013, the Company&rsquo;s current liabilities exceed
its current assets by $207,979,447. While the Company had cash and cash equivalents of $7,831,084, it had short-term borrowings
of $68,821,014 all due within one year and the current portion of long-term borrowings amounting to $50,049,843, which is restricted
to purchase fixed assets and not expected to be renewed.</FONT></TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">These factors are mitigated by the following
actions and plans:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">On March 30, 2014, the Company obtained an irrevocable, legally enforceable letter of financial support from Daqo Group which has committed to provide sufficient financial support to the Company to ensure the Company has the funds required to satisfy its obligations as they come due in the normal course during the year ending December 31, 2014.  Further, the support letter provides that Daqo Group will not require the Company to pay the amount owed to the Daqo Group and subsidiaries of Daqo Group, Daqo Solar and Xinjiang Daqo Investment as of December 31, 2013, before January 1, 2015.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">The Company has or in the process of taking a number of cost reduction
initiatives. For example, the Company has constructed its phase II production facilities in Xinjiang and began commercial production
in January 2013. The cash cost to produce polysilicon at the Xinjiang facilities is approximately $11 per kg, which is significantly
lower than current ASPs</FONT></TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">The Company has performed a review of its cash flow forecast for the twelve months ending December 31, 2014. The Company believes that its operating cash flow will improve significantly in 2014 and that its operating cash flow will be positive. While management believes the forecast is based on reasonable assumptions, significant assumptions of this forecast include: the ASP is estimated to be approximately $22 per kilogram for the year ending December 31, 2014 and the unit cash cost of Xinjiang will be approximately $11 per kilogram for the year ending December 31, 2014 as a result of the low electricity cost and certain technology improvements. The preliminary results for the first quarter of 2014 shows an increase in the ASP, which increased to $21 per kilogram as of March 31, 2014. This trend is consistent with the Company's expectation.  As of December 31, 2013, the Company has a plan to expand the capacity at the Xinjiang plant and is in the process of relocating significant production assets from Chongqing Daqo to its Xinjiang plant, completion of which is subject to obtaining additional funding.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 59pt; text-indent: -0.25in"></P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">While there can be no assurance that the Company will be able to refinance its short-term bank borrowings as they become due, historically, the Company has renewed or rolled over most of its short-term bank loans upon the maturity date of the loans and believes it will continue to be able to do so. From January 1, 2014 to April 14, 2014, the Company rolled over a short-term bank borrowing of $11.2 million and a bank acceptance note credit facility of $4.8 million.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 59pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Based on the above factors, management believes
that adequate sources of liquidity will exist to fund the Company&rsquo;s working capital and capital expenditures requirements,
and to meet its short term debt obligations, other liabilities and commitments as they become due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(b) Basis of consolidation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The consolidated financial statements include
the financial statements of the Group. All intercompany transactions and balances have been eliminated on consolidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(c) Use of estimates</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The preparation of consolidated financial
statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements
and the amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. The company
bases its estimates on historical experience and various other factors believed to be reasonable under the circumstances, the results
of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from
other sources. Management has made significant estimates in a variety of areas, including but not limited to allowance for doubtful
accounts, inventories valuation, useful lives and residual values of long-lived assets, impairment for long lived assets, consolidation
of Daqo New Material, valuation allowances for deferred tax assets, interest capitalization, warranty accrual and certain assumption
used in the computation of share-based compensation and related forfeiture rates.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(d) Concentration of credit risk</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Financial instruments that potentially expose
the Group to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivables.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group places its cash and cash equivalents
in various financial institutions in the PRC. The Group believes that no significant credit risk exists as these banks are principally
government-owned financial institutions with high credit ratings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Accounts receivable represent those receivables
derived in the ordinary course of business. The Group conducts credit evaluations of customers to whom credit terms are extended.
The Group establishes an allowance for doubtful accounts mainly based on aging of the receivables and other factors surrounding
the credit risk of specific customers. The allowance for doubtful accounts is $1,592,467 and $7,160,782 as of December&nbsp;31,
2012 and 2013, respectively, based on the aging of the receivables and the Company&rsquo;s assessment of the customers&rsquo;
credit risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The following customers accounted for 10%
or more of accounts receivable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>December&nbsp;31,</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 0.75pt solid"><B>Accounts<BR>
 receivable</B></P></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2012</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2013</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Customer A</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12,529,889</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Customer D</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,568,910</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3,673,455 </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Customer C</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,225,831</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Customer K</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">-</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,507,576</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 97%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Represents less than 10%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Sales of polysilicon to the Group&rsquo;s
largest customers whose sales constitute over 10% of revenue accounted for approximately 50%, 25% and 30% of revenues for the
years ended December&nbsp;31, 2011, 2012 and 2013, respectively. The Group was substantially dependent upon the continued participation
of these customers in order to maintain its total revenues. Significantly reducing the Group&rsquo;s dependence on these customers
is likely to take time and there can be no guarantee that the Group will succeed in reducing that dependence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Furthermore, all of the Company's long-term
borrowings are guaranteed by Daqo Group, our related party, who has also committed to provide financial support to meet the Company's
short term borrowings obligations, other liabilities and commitments as they become due (see Note 2(a)). The Company's access
to credit is significantly reliant on Daqo Group's ability and willingness to continue to provide sufficient financial support.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(e) Cash and cash equivalents</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Cash and cash equivalents consist of cash
on hand and demand deposits, which are unrestricted as to withdrawal and use, and which have maturities of three months or less
when purchased.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(f) Restricted cash</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Restricted cash amounted to $10,649,745
and $8,826,110 as of December&nbsp;31, 2012 and 2013, respectively, and are deposited in bank accounts as deposits for short-term
letters of credit and notes issued by several banks for purchases of raw materials, plant and equipment. These deposits carry
fixed interest rates and will be released when the related letters of credit or notes are settled by the Group. The Group considers
the restricted cash balances as equivalent to an investment whose return of principal requires the satisfaction of conditions
(i.e., settlement of letters of credit or notes) rather than a withdrawal demand. Therefore, deposits and withdrawals of principal
balances in restricted cash accounts represent the creation or return of investment and, accordingly, the Group has presented
such deposits and withdrawals as investing activities in the consolidated statements of cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(g) Allowance for Doubtful Accounts</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group determines its allowance for doubtful
accounts by actively monitoring the financial condition of its customers to determine the potential for any nonpayment of trade
receivables. In determining its allowance for doubtful accounts, the Group also considers other economic factors, such as aging
trends. The Group believes that its process of specific review of customers combined with overall analytical review provides an
effective evaluation of ultimate collectability of trade receivables.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(h) Inventories</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Inventories are stated at lower of cost
or market. Costs are determined using weighted average costs. Costs comprise direct materials, direct labor and overhead costs
incurred in bringing the inventories to their present location and condition. The Group writes down the cost of excess inventories
to the estimated market value based on historical and forecasted demand. Estimated market value is measured as the estimated selling
price of each class of inventory in the ordinary course of business less estimated costs of completion and disposal. The charges
to inventory for the years ended December&nbsp;31, 2011, 2012 and 2013 were $14,252,701, $ 14,821,620 and $29,905,734, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group has outsourced portions of its
manufacturing process, including cutting ingots into wafers, and converting wafers into solar cells, to various third-party manufacturers.
These outsourcing arrangements may or may not include transfer of title of the raw material inventory (ingots, wafers or cells)
to the third-party manufacturers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">For those outsourcing arrangements in which
title does not transfer, the Group maintains the inventory in the balance sheet as raw materials inventory while it is in physical
possession of the third-party manufacturers. Upon receipt of the processed inventory from the third-party manufacturers, it is
reclassified to work-in-progress inventory with the processing fee capitalized as cost of inventory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">For those outsourcing arrangements in which
title (including risk of loss) does transfer to the third-party manufacturer, the Group is contractually obligated to repurchase
the processed inventory. To accomplish this, it enters into raw material sales agreements and processed inventory purchase agreements
simultaneously with the third-party manufacturer. In such instances, where they are, in substance tolling arrangements, the Group
retains the inventory in the consolidated balance sheets while it is in the physical possession of the third-party manufacturer.
The cash received from the third-party manufacturer is recorded as a current liability on the balance sheet rather than revenue
or deferred revenue. Upon receipt of the processed inventory, it is reclassified from raw materials to work-in-progress inventory
and the processing fee paid to the third-party manufacturer is added to inventory cost. Cash payments for outsourcing arrangements
which require prepayment for repurchase of the processed inventory are classified as current assets on the balance sheet. If there
is no legal right of offset established by these arrangements, the associated assets and liabilities are presented separately
on the balance sheet until the processed inventory is returned to the Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(i) Property, plant and equipment</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Property, plant and equipment are recorded
at cost less accumulated depreciation. Depreciation is recognized on a straight-line basis over the following estimated useful
lives:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 85%; border-collapse: collapse; margin-left: 0.6in">
<TR>
    <TD STYLE="vertical-align: top; width: 82%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Buildings and plant</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 18%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">20&nbsp;years</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Machinery and equipment</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10 years</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Furniture, fixtures and equipment</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3-5&nbsp;years</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Motor vehicles</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6 years</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Costs incurred on construction are capitalized
and transferred to property, plant and equipment upon completion, at which time depreciation commences.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Interest expense incurred for construction
of property, plant, and equipment is capitalized as part of the cost of such assets. The Company capitalizes interest to the extent
that expenditures to construct an asset have occurred and interest costs have been incurred. Interest expense capitalized for
the years ended December&nbsp;31, 2011, 2012 and 2013 was $3,429,496, $7,245,747 and $nil, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(j) Prepaid land use rights</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">All land in the PRC is owned by the PRC
government. The PRC government, according to PRC law, may sell the land use rights for a specified period of time. The Group&rsquo;s
land use rights in the PRC are stated at cost less recognized lease expenses. Lease expense is recognized over the term of the
agreement on a straight-line basis. The Group recorded lease expenses of $166,355, $958,558 and $ 781,706, for the years ended
December&nbsp;31, 2011, 2012 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(k) Impairment of long-lived assets</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group evaluates its long-lived assets
for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable.
Factors that the Group considers in deciding when to perform an impairment review include, but are not limited to significant under-performance
of a business or product line in relation to expectations, significant negative industry or economic trends, and significant changes
or planed changes in the use of the assets. An impairment analysis is performed at the lowest level of identifiable independent
cash flows for an asset or asset group. The Group makes subjective judgments in determining the independent cash flows that can
be related to a specific asset group based on the asset usage model and manufacturing capabilities. The Group measures the recoverability
of assets that will continue to be used in the operations by comparing the carrying value of the asset group to the estimate of
the related total future undiscounted cash flows. If an asset group&rsquo;s carrying value is not recoverable through the related
undiscounted cash flows, the impairment loss is measured by comparing the difference between the asset group&rsquo;s carrying value
and its fair value. The Group determines the fair value of an asset or asset group utilizing estimated future discounted cash flows
and incorporates assumptions that it believes marketplace participants would utilize. The impairment charges for the years ended
December&nbsp;31, 2011, 2012 and 2013 were $38,512,376 (among which $3,844,799 was included in loss from discontinued operations),
$42,754,481 and $158,424,827, respectively.&nbsp;The impairment loss incurred in fiscal year 2012 was related to the impairment
of long-lived assets of the wafer business, and was triggered primarily by the significant decrease in average selling prices for
wafers that was experienced in 2012. The impairment loss incurred in fiscal year 2013 was related to the buildings and plant in
Chongqing Daqo and Daqo New Material, and was triggered primarily by the significant decrease in average selling prices for polysilicon
and the Group's decision of relocating significant machinery and equipment located at Chongqing Daqo to Xinjiang Daqo as a part
of its expansion plan.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(l) Revenue recognition</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"><U>Product sales</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group recognizes revenue when persuasive
evidence of an arrangement exists, the sales price is fixed or determinable, delivery of the product has occurred, title and risk
of loss have transferred to the customers and collectability of the receivable is reasonably assured. The majority of the sales
contracts transfer title and risk of loss to customers upon receipt. Sales agreements for polysilicon and wafers typically do not
contain product warranties except for return and replacement of defective products within a period generally ranging from 3 to
30 days from delivery. Sales agreements typically do not contain post-shipment obligations or other return or credit provisions.
The Group may extend credit terms after assessing a number of factors to determine the customers&rsquo; credit worthiness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group sold approximately $36,916,531,
$19,862,424 and $32,278,700 in photovoltaic wafers and cells in 2011, 2012 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Customers frequently pay for products prior
to the delivery of the products. Advance payments are recorded as advances from customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"><U>Service revenue</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Company also provides OEM services to
customers and recognizes revenue when there is persuasive evidence of an arrangement, the service has been rendered, the sales
price is fixed or determinable and collectability is reasonably assured.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(m) Cost of revenues</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Cost of revenues consists of production
related costs including costs of silicon raw materials, electricity and other utilities, consumables, direct labor, overhead costs,
depreciation of property, plant and equipment, and manufacturing waste treatment processing fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(n) Shipping and handling</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Costs to ship products to customers are
recorded as selling expenses in the consolidated statements of operations. Costs to ship products to customers were $1,215,110,
$1,033,808 and $1,901,384 respectively for the years ended December&nbsp;31, 2011, 2012 and 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(o) Research and development expenses</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Research and development expenses include
materials and utilities consumed in research and development activities, payroll and related costs and depreciation of property
and equipment associated with the research and development activities, which are expensed when incurred. In the years ended December
31, 2012 and 2013, the Company incurred additional research and development expenses for its Xinjiang Phase II polysilicon facilities
to achieve the targets for quality, capacity and cost during the pilot production period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(p) Government subsidies</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group receives unrestricted cash subsidies
from local government agencies. The government agencies use their discretion to determine the amount of the subsidies with reference
to land use right fees, value-added tax and income taxes paid, bank loan interest expenses paid or electricity consumed by the
Group, however, these subsidies do not represent tax refunds or reimbursements of expenditures. The subsidies are unrestricted
as to use and can be utilized by the Group in any manner it deems appropriate. The Group has utilized, and expects to continue
to utilize, these subsidies to fund general operating expenses. The Group records unrestricted cash government subsidies as other
operating income in the consolidated statements of operations. Unrestricted cash government subsidies received for the years ended
December&nbsp;31, 2011, 2012 and 2013 were $11,484,768, $9,250,296 and $5,249,788, respectively.&nbsp;Government grants related
to assets are recorded as long term liabilities and are recognized as an offset to depreciation expense on a straight-line basis
over the useful life of the associated asset. The Company received government grants related to assets of $25,895,226, $1,383,487
and $1,172,160 during the years ended December&nbsp;31, 2011, 2012 and 2013, respectively, and recognized $42,047, $764,528 and
$ 1,454,125 as an offset to depreciation expense for the years ended December&nbsp;31, 2011, 2012 and 2013, respectively. The
Company had deferred government grants related to assets of $25,853,179, $26,472,137 and $26,954,700 as of December&nbsp;31, 2011,
2012 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(q) Income taxes</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Deferred income taxes are recognized for
temporary differences between the tax bases of assets and liabilities and their reported amount in the consolidated financial
statements, net operating loss carry-forwards and credits by applying enacted tax rates applicable to future years. Deferred tax
assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or
all of the deferred tax assets will not be realized. Current income taxes are provided in accordance with the laws of the relevant
taxing authorities. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in
which temporary differences are expected to be realized or settled. The effect on deferred tax assets and liabilities of changes
in tax rates is recognized in the statement of operations in the period of the enactment of the change. The components of the
deferred tax assets and liabilities are individually classified as current and non-current based on the characteristics of the
underlying assets and liabilities, or the expected timing of their use when they do not relate to a specific asset or liability.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(r) Share-based compensation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group recognizes share-based compensation
in the statement of operations based on the fair value of equity awards on the date of the grant, with compensation expense recognized
over the period in which the grantee is required to provide service to the Group in exchange for the equity award. The Group has
made an estimate of expected forfeiture and is recognizing compensation costs only for those equity awards expected to vest. The
share-based compensation expenses have been categorized as either selling, general and administrative expenses, research and development
expenses and cost of sales, depending on the job functions of the grantees. For the years ended December&nbsp;31, 2011, 2012 and
2013, the Group recognized share-based compensation expense of $2,206,025, $2,249,834 and $1,881,401 respectively, which was classified
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%; text-align: left; text-indent: -10pt; padding-left: 10pt">Selling, general and administrative expenses</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">2,068,115</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">2,018,817</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,743,768</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Research and development expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,508</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">175,242</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">60,987</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; padding-bottom: 1pt">Cost of sales</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">62,402</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">55,775</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">76,646</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-indent: -10pt; padding-left: 10pt; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">2,206,025</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">2,249,834</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">1,881,401</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(s) Earnings (loss) per share</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Basic earnings (loss) per ordinary share
are computed by dividing the net income (loss) attributable to ordinary shares by the weighted average number of ordinary shares
outstanding during the year.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Diluted earnings per share is calculated
by dividing net income attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares,
if any, by the weighted average number of ordinary shares and dilutive ordinary share equivalents outstanding during the year.
Diluted earnings per share is computed using the treasury stock method. During the years ended December&nbsp;31, 2011, 2012 and
2013, there are no ordinary shares issuable upon the exercise of outstanding share options included in the calculation of dilutive
earnings per share as they were anti-dilutive.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(t) Foreign currency translation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The reporting currency of the Group is the
United States dollar (&ldquo;U.S. dollar&rdquo;). The functional currency of the Company is the U.S. dollar. Monetary assets and
liabilities denominated in other currencies other than the U.S. dollar are translated into U.S. dollar at the rates of exchange
in effect at the balance sheet dates. Transactions dominated in currencies other than the U.S. dollar during the year are converted
into U.S. dollar at the applicable rates of exchange prevailing when the transactions occur. Transaction gains and losses are
recorded in the statements of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The financial records of the Company&rsquo;s
PRC subsidiaries and VIE are maintained in Chinese Renminbi (&ldquo;RMB&rdquo;), which is their functional currency. Assets and
liabilities are translated at the exchange rates at the balance sheet date. Equity accounts are translated at historical exchange
rates. Revenues, expenses, gains and losses are translated at average rate of exchange prevailing during the periods presented.
Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive
income in the statement of changes in equity and comprehensive income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The RMB is not a freely convertible currency.
The State Administration for Foreign Exchange of People&rsquo;s Republic of China, under the authority of the People&rsquo;s Bank
of China, controls the conversion of RMB into foreign currencies. The value of the RMB is subject to changes in central government
policies and to international economic and political developments affecting supply and demand in the China foreign exchange trading
system market. The Group&rsquo;s aggregate amount of cash and cash equivalents and restricted cash denominated in RMB amounted
to $11,589,709 and $11,436,370 as of December&nbsp;31, 2012 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(u) Comprehensive income (loss)</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Our financial statements include the Consolidated
Statements of Comprehensive Income (Loss) as required by new accounting guidance, which we early adopted during 2010.
As of December 31, 2012 and 2013, Accumulated Other Comprehensive Income was comprised entirely of foreign currency translation
adjustments.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(v) Fair value of financial instruments</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Company estimates fair value of financial
assets and liabilities as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date (also referred to as an exit price). The fair value measurement guidance establishes
a hierarchy for inputs used in measuring fair value that gives the highest priority to observable inputs and the lowest priority
to unobservable inputs. Valuation techniques used to measure fair value shall maximize the use of observable inputs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 3%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 92%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Level 1&mdash;Valuation
    techniques in which all significant inputs are unadjusted quoted prices from active markets for assets or liabilities that
    are identical to the assets or liabilities being measured.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 3%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 92%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Level 2&mdash;Valuation
    techniques in which significant inputs include quoted prices from active markets for assets or liabilities that are similar
    to the assets or liabilities being measured and/or quoted prices for assets or liabilities that are identical or similar to
    the assets or liabilities being measured from markets that are not active. Also, model-derived valuations in which all significant
    inputs and significant value drivers are observable in active markets are Level 2 valuation techniques.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 3%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 92%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Level 3&mdash;Valuation
    techniques in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are
    valuation technique inputs that reflect the Group&rsquo;s own assumptions about the assumptions that market participants would
    use to price an asset or liability.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">When available, the Group measures the fair
value of financial instruments based on quoted market prices in active markets, valuation techniques that use observable market-based
inputs or unobservable inputs that are corroborated by market data. Pricing information the Group obtains from third parties is
internally validated for reasonableness prior to use in the consolidated financial statements. When observable market prices are
not readily available, the Group generally estimates fair value using valuation techniques that rely on alternate market data
or inputs that are generally less readily observable from objective sources and are estimated based on pertinent information available
at the time of the applicable reporting periods. In certain cases, fair values are not subject to precise quantification or verification
and may fluctuate as economic and market factors vary and the Group&rsquo;s evaluation of those factors changes. Although the
Group uses its best judgment in estimating the fair value of these financial instruments, there are inherent limitations in any
estimation technique. In these cases, a minor change in an assumption could result in a significant change in its estimate of
fair value, thereby increasing or decreasing the amounts of the Group&rsquo;s consolidated assets, liabilities, shareholders&rsquo;
equity and net income or loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group&rsquo;s financial instruments
include cash and cash equivalents, restricted cash, accounts receivable, other current assets, amount due from related parties,
accounts payable, other current liabilities, payables for purchase of property, plant and equipment, amounts due to related parties
and short-term and current portion of long-term borrowings. The carrying amounts of these short-term financial instruments approximate
their fair values due to the short-term maturity of these instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The fair values of the Company&rsquo;s non-current
portion of payables for purchase of property, plant and equipment and long-term bank borrowings as of December&nbsp;31, 2012 and
2013 are estimated by discounted cash flow technique using an interest rate corresponding to debt with similar maturities and risks
on the measurement date.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(w) Variable Interest Entity</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Company uses a qualitative approach in
assessing the consolidation requirement for variable interest entities. The approach focuses on identifying which enterprise has
the power to direct the activities that most significantly impact the variable interest entity's economic performance and which
enterprise has the obligation to absorb losses or the right to receive benefits from the variable interest entity. In the event
that the Company is the primary beneficiary of a variable interest entity, the assets, liabilities, and results of operations of
the variable interest entity will be included in the Company's Consolidated Financial Statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(x) Noncontrolling interest</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The noncontrolling interest represents Daqo
Group&rsquo;s equity interest in Daqo New Material. The Group classified the ownership interest in the consolidated entity held
by a party other than the Company to noncontrolling interest in the consolidated financial statements. It also reported the consolidated
net income at amounts that include the amounts attributable to both the parent and the noncontrolling interest on the face of the
consolidated statements of operations and comprehensive income. On December 31, 2013, Daqo New Material was deconsolidated, therefore
the noncontrolling interest was $nil as of December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(y) Treasury Stock</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">On July 9, 2012, the Company's Board of
Directors authorized the Company to repurchase up to $5 million in aggregate value of its outstanding ordinary shares through
open market or other legally permissible means prior to December 31, 2012 in accordance with applicable securities laws.. During
the year ended December 31, 2012, the Company repurchased 2,836,670 shares for a total purchase price of $500,724. The Company
has legal title to the shares, and no other party has the voting rights associated with these shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(z) Recent accounting pronouncements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In July 2013, the FASB issued a pronouncement
which provides guidance on financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward,
a similar tax loss, or a tax credit carryforward exists. The FASB&rsquo;s objective in issuing this ASU is to eliminate diversity
in practice resulting from a lack of guidance on this topic in current U.S. GAAP. The amendments in this ASU state that an unrecognized
tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a
deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent a net
operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the
tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax
position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use,
the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability
and should not be combined with deferred tax assets. This ASU applies to all entities that have unrecognized tax benefits when
a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. The amendments
in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption
is permitted. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date.
Retrospective application is permitted.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>3. EXIT and DISPOSAL ACTIVITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(a) Disposal of Nanjing Daqo</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">On September 28, 2012, in order to focus
on the Company's core competency and enhance operating efficiency, the Company sold 100% equity interests on Nanjing Daqo to our
related party, Daqo Group, after the Group failed to identify a third party investor from its public bidding procedure undertaken
through the Nanjing Property Right Trading Center for a total consideration of RMB62 million (US$9.9 million). The sales price
was determined with reference to the valuation result as of March 31, 2012 performed by an independent third party valuer which
determined the fair value to approximate the net asset value of approximately $12.0 million, less the operating loss of Nanjing
Daqo incurred during the period from April 1, 2012 to September 28, 2012 of approximately $2.1 million. The loss from discontinued
operation of $2,392,228 represents the aggregation of the loss incurred by Nanjing Daqo during the period from January 1, 2012
to September 28, 2012 of $3,491,527 and the gain on disposition of $1,099,299, which was the reclassification of foreign currency
translation gain from other comprehensive income of $1,099,299. There were no remaining assets or liabilities associated with discontinued
operations in the consolidated balance sheet as of December 31, 2012. As of December 31, 2013, $4.8 million of the consideration
had been received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The discontinued operations were retrospectively reflected for
all the prior years presented in the consolidated statements of operations. The operating results reported as discontinued operations
for the years ended December 31, 2011, 2012 and 2013, are summarized as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 95%; font: 10pt Times New Roman, Times, Serif; margin-left: 23pt">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2011</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 55%">Revenues</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">29,082,384</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">6,454,830</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Operating costs and expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(36,943,483</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(9,946,357</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Loss from discontinued operations before income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,861,099</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,491,527</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Income tax benefit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,003,289</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Loss from discontinued operations</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(5,857,810</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(3,491,527</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(b) Relocation of Polysilicon Operations to Xinjiang</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">As of December 31, 2013, the Company has
a plan to expand the capacity at the Xinjiang plant and is in the process of relocating significant production assets, with a
carrying value of $ 144.7 million, from Chongqing Daqo to its Xinjiang plant. In connection with this relocation plan, the Company
determined i) to cease a retooling project at its polysilicon production line located at Chongqing Daqo in the second quarter
of 2013, and ii) it was more practical to relocate its machinery and equipment located at Chongqing Daqo, to Xinjiang as part
of the expansion plan. Therefore, the Company recorded an impairment charge in connection with this decision of $158.4 million
in the second quarter of 2013 and subsequently terminated its lease arrangement with Daqo New Material on December 30, 2013. The
Company expects to complete the relocation by the end of 2014. The Company has incurred approximately $0.8 million in employee
termination costs associated with the closure of the polysilicon operations at Chongqing Daqo and $0.5 million in connection with
relocation costs to date, all of which were recorded in selling, general and administrative expenses, which were recorded in selling,
general and administrative expenses. No other material costs, including contract termination costs, have been incurred and no
material liabilities as of December 31, 2013 are recorded in connection with this relocation plan, which the Company expects to
complete by the end of 2014. The Company expects to incur capital expenditure for the project of around $100 million, which includes
approximately $7.1 million of expected relocation costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>4. ALLOWANCES FOR DOUBTFUL RECEIVABLES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Company made provisions for doubtful
accounts receivables in the aggregate amount of $1,202,940, $359,733 and $5,482,019 during the year ended December 31, 2011, 2012
and 2013, respectively. <B> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Analysis of allowances for accounts receivable
is as follows:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 95%; font: 10pt Times New Roman, Times, Serif; margin-left: 23pt">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2011</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 55%; text-align: left">Beginning of the year</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">1,202,940</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">1,592,467</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Allowances made during the year</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,202,940</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">359,733</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,482,019</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Foreign exchange effect</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">29,794</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">86,296</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Closing balance</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,202,940</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,592,467</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,160,782</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>5. PREPAID EXPENSE AND OTHER CURRENT ASSETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Prepaid expense and other current assets
consist of the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 95%; font: 10pt Times New Roman, Times, Serif; margin-left: 23pt">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 70%; text-align: left; text-indent: -10pt; padding-left: 10pt">Spare parts</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">3,975,860</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">6,264,805</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Prepaid Value added tax (&ldquo;VAT&rdquo;)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,705,984</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,546,880</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Prepaid insurance fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">471,721</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,016,625</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Others</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">780,402</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,042,380</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">23,933,967</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">23,870,690</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>6. INVENTORIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Inventories consist of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 95%; font: 10pt Times New Roman, Times, Serif; margin-left: 23pt">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 70%; text-align: left; text-indent: -10pt; padding-left: 10pt">Raw materials</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">976,374</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">2,084,050</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">Work-in-process</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,759,153</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,666,821</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Finished goods</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,399,995</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,749,385</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">15,135,522</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">10,500,256</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Inventory write-down was $14,252,701, $14,821,620
and $221,025 for the years ended December&nbsp;31, 2011, 2012 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>7. PROPERTY, PLANT AND EQUIPMENT, NET</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Property, plant and equipment, net, consist
of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 95%; font: 10pt Times New Roman, Times, Serif; margin-left: 23pt">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">Cost</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; text-align: left; text-indent: -10pt; padding-left: 10pt">Buildings and plant</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">437,805,571</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">235,690,310</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Machinery and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">344,782,948</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">355,429,034</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Furniture, fixtures and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,233,575</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,329,752</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Motor vehicles</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">519,923</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">262,562</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Less: Accumulated depreciation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(133,746,851</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(145,031,744</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Property, plant and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">658,595,166</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">467,679,944</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Construction in process</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">19,300,108</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">20,824,239</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">677,895,274</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">488,504,183</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Depreciation expense was $35,479,645, $37,371,791
and $52,250,595 for the years ended December&nbsp;31, 2011, 2012 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Due to the challenging solar market conditions
resulting in lower ASP for polysilicon and wafers, combined with structural cost issues at Chongqing Daqo, the Company recognized
impairments for long-lived assets of <FONT STYLE="font: 10pt Times New Roman, Times, Serif">$38,512,376, $42,754,481 and $158,424,827
during the years ended December 31, 2011, 2012 and 2013, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>8. BORROWINGS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group&rsquo;s bank borrowings consisted
of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 95%; font: 10pt Times New Roman, Times, Serif; margin-left: 23pt">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 70%; text-align: left; text-indent: -10pt; padding-left: 10pt">Short-term bank borrowings</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">49,748,800</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">39,643,440</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Long-term bank borrowings, current portion</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69,006,400</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,049,843</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Other short-term borrowing</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,524,560</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">29,177,574</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Total borrowings, current</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">120,279,760</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">118,870,857</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Long-term bank borrowings, non-current portion</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">187,520,880</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">134,870,287</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">307,800,640</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">253,741,144</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Short-term borrowings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group&rsquo;s short-term bank borrowing
consisted of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 95%; font: 10pt Times New Roman, Times, Serif; margin-left: 23pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 70%; text-align: left">Short-term borrowing guaranteed by Daqo Group</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">1,604,800</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">28,080,770</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Short-term borrowing guaranteed by Daqo Group and Mr.&nbsp;Guangfu Xu and Mr.&nbsp;Xiang Xu</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48,144,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Short-term borrowing guaranteed by Daqo Group and a third party</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">11,562,670</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">49,748,800</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">39,643,440</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Company has $nil and $18.2 million short-term
bank facilities with various banks were available as of December 31, 2012 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 23pt">The interest rate on
the short-term bank borrowing was 7.0% and 6.4% as of December&nbsp;31, 2012 and 2013. The other short term borrowing was discounted
bank notes with recourse to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Long-term borrowings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The major bank borrows are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">On January&nbsp;21, 2009, Chongqing Daqo
entered into a six-year long term facility agreement with China Construction Bank. Such borrowing is restricted to the purchase
of fixed assets and has a maximum borrowing amount $66.1 million (RMB400 million), bearing standard five-year long term interest
rate issued by People&rsquo;s Bank of China. The borrowing is guaranteed by Daqo Group. As of December&nbsp;31, 2013, Chongqing
Daqo had drawn down $66.1 million (RMB400 million), repaid $60.0 million (RMB357 million) and had no facility available for future
draw down. There are no financial covenants associated with the facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 23pt">On
September&nbsp;28, 2011, Chongqing Daqo entered into a four-year credit facility agreement with Huaxia Bank with
maximum amount of $66.1 million (RMB400 million). Chongqing Daqo drew down $62.8 million (RMB380 million), including: $21.5
million (RMB130 million) with fixed interest rate of 6.65%, which is designated for working capital and $41.3 million
(RMB250 million) with fixed interest rate of 6.9% which is restricted to the purchase of fixed assets. Chongqing Daqo used
the remaining facility of $3.3 million (RMB20 million) through use of bank acceptance notes. As of December 31, 2013,
Chongqing Daqo had repaid 27.1 million (RMB164 million) and had no facility available for future draw down. This credit
facility is guaranteed by Daqo Group and also collateralized by Chongqing Daqo&rsquo;s land use right and plant, with a book
value of $8.5 million (RMB52 million). The facility contains a covenant which requires the Company to maintain a certain debt
to asset ratio, which Chongqing Daqo was in compliance with as of December&nbsp;31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">On September&nbsp;30, 2011, Xinjiang Daqo
entered into a six-year bank borrowing agreement with Bank of China. Such borrowing is restricted to the purchase of fixed assets
and has a maximum borrowing amount of $161.9 million (RMB980 million) and bears interest at standard five-year long term interest
rate issued by People&rsquo;s Bank of China plus 5%. The borrowing contains a debt to asset ratio financial covenant, which Xinjiang
Daqo was in compliance with as of December&nbsp;31, 2013. The borrowing is guaranteed by Daqo Group, Daqo New Material, two affiliated
companies under Daqo Group and Mr.&nbsp;Guangfu Xu. As of December&nbsp;31, 2013, Xinjiang Daqo had drawn down $123.9 million
(RMB750 million) and had $38.0 million (RMB230 million) facility available for future draw down. The loan was in compliance with
the covenants as of December&nbsp;31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 23pt">On October&nbsp;26,
2011, Chongqing Daqo entered into a four-year credit facility agreement with Chongqing Rural Commercial Bank. Such borrowing is
restricted to the purchase of fixed assets and has a maximum borrowing amount $40.6 million (RMB 245.5 million) and bears interest
at three to five-year long term interest rate issued by People&rsquo;s Bank of China plus 10%. The borrowing is guaranteed by Daqo
Group, and two directors of the Company. As of December&nbsp;31, 2013, Chongqing Daqo had drawn down $40.6 million (RMB 245.5 million)
and repaid $22.3 million (RMB 135 million). There are no financial covenants associated with the facility.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The weighted average interest rate as of
December&nbsp;31, 2012 and 2013 for the Group&rsquo;s long-term bank borrowings was 7.2% and 7.2%, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The principal maturities of these long-term
bank borrowings as of December&nbsp;31, 2013 are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 23pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>December&nbsp;31,</B></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 85%; text-align: left; text-indent: -10pt; padding-left: 10pt">2014</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">50,049,843</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">77,056,937</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">2016</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">57,813,350</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">184,920,130</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>9. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Accrued expenses and other current liabilities
consist of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 23pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 70%; text-align: left">Accrued payroll and welfare </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">2,526,701</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">2,588,312</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accrued professional fees </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">700,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">624,825</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Other tax payable </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,830,815</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,378,963</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Interest payable </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">612,968</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">305,087</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Government subsidy </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">882,640</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">908,496</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Others </TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,064,331</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,655,938</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">Total </TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">7,617,455</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">7,461,621</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>10. ADVANCES FROM CUSTOMERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Advances from customers represent prepayments
from customers and are recognized as revenue in accordance with the Group&rsquo;s revenue recognition policy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Advances from customers consist of the following
and is analyzed as long and short portion respectively:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.32in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 70%; text-align: left; text-indent: -10pt; padding-left: 10pt">Customer D*</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">15,532,572</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">15,987,573</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Customer J</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,852,496</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,220,355</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Customer G</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,462,084</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,996,550</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Customer F</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,532,632</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Others</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,016,454</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,937,418</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">29,396,238</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">25,141,896</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Less: Current portion of Advance from customers</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">29,396,238</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><P STYLE="margin: 0pt 0">13,217,775</P>


</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Long term advance from customers</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><P STYLE="margin: 0pt 0">11,924,121</P>


</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* Pursuant to the terms of the Company's revised supply agreement
with this customer the Company will deliver monthly amounts of polysilicon, totaling no less than RMB2.4 million from April 2014
to September 2016, or until such time as the advance has been fully utilized.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>11. FAIR VALUE MEASUREMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The following table presents the financial
instruments for which fair value does not approximate carrying value as of December&nbsp;31, 2012 and 2013:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">As&nbsp;of&nbsp;December&nbsp;31,&nbsp;2012</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">As&nbsp;of&nbsp;December&nbsp;31,&nbsp;2013</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Carrying&nbsp;Value</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Fair&nbsp;Value</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Carrying<BR> Value</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Fair&nbsp;Value</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 48%; text-align: left; text-indent: -10pt; padding-left: 10pt">Long-term bank borrowing</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">187,520,880</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">166,148,388</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">134,870,287</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">124,047,823</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Payables for purchase of property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,126,255</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,014,716</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Nonrecurring Fair Value Measurements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The following table displays assets and liabilities
that were measured at fair value on a non-recurring basis after initial recognition;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 95%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.2in">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Year&nbsp;ended&nbsp;December&nbsp;31,&nbsp;2012</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Description</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><P STYLE="margin: 0pt 0">Carrying<BR>
amount</P>


</TD><TD STYLE="font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Quoted&nbsp;Prices&nbsp;in<BR>
    Active&nbsp;Markets<BR> for&nbsp;Identical<BR> Assets&nbsp;(Level&nbsp;1)</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Significant<BR>
    Other<BR> Observable<BR> Inputs&nbsp;(Level&nbsp;2)</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Significant<BR>
    Unobservable<BR> Inputs&nbsp;(Level&nbsp;3)</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total&nbsp;Losses</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 35%; text-align: left; text-indent: -9.5pt; padding-left: 9.5pt; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Long-lived
    assets held and used</FONT></TD><TD STYLE="width: 1%; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 10%; text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">53,287,118</FONT></TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 10%; text-align: right; border-bottom: Black 2.5pt double"></TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 10%; text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 10%; text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,532,637</FONT></TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 10%; text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">42,754,481</FONT></TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21.3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 95%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.2in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year&nbsp;ended&nbsp;December&nbsp;31,&nbsp;2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">Description</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><P STYLE="margin: 0pt 0">Carrying<BR>
amount</P>


</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Quoted&nbsp;Prices&nbsp;in<BR> Active&nbsp;Markets<BR> for&nbsp;Identical<BR> Assets&nbsp;(Level&nbsp;1)</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Significant<BR> Other<BR> Observable<BR> Inputs&nbsp;(Level&nbsp;2)</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Significant<BR> Unobservable<BR> Inputs&nbsp;(Level&nbsp;3)</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Total&nbsp;Losses</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 35%; text-align: left; padding-left: 0in; padding-bottom: 2.5pt">Long-lived assets held and used</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="width: 10%; text-align: right; border-bottom: Black 2.5pt double">307,942,362</TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="width: 10%; text-align: right; border-bottom: Black 2.5pt double"></TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="width: 10%; text-align: right; border-bottom: Black 2.5pt double">149,517,535</TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="width: 10%; text-align: right; border-bottom: Black 2.5pt double">&mdash;</TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="width: 10%; text-align: right; border-bottom: Black 2.5pt double">158,424,827</TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21.3pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21.3pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21.3pt">During the year ended December 31, 2012,
long-lived assets held and used with a carrying amount of $53.3 million were written down to their fair value of $10.5 million,
resulting in an impairment charge of $42.8 million. The fair values of the productive assets were estimated using a discounted
cash flow model under the income approach. The discounted cash flow method involves forecasting the future cash flows and then
discounting them back to a present value at an appropriate discount rate. The discount rate is estimated based on a weighted average
cost of capital method, which measures a Company&rsquo;s cost of debt and equity financing weighted by the percentage of debt and
equity in a Company&rsquo;s target capital structure as determined through reference to the identified guideline companies. The
cost of equity was derived from the CAPM and the cost of debt was benchmarked to the People&rsquo;s Bank of China&rsquo;s long
term borrowing rate in China.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21.3pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21.3pt">During the year ended December 31, 2013,
long-lived assets held and used with a carrying amount of $308 million were written down to their fair value of $150 million, resulting
in an impairment charge of $158 million, about $143 million of this amount related to Daqo New Material. Based on the nature of
the property being assessed, buildings and land use rights, the fair value was estimated using direct comparison method under the
market approach. The direct comparison method is a set of procedures in which a value indication is derived by comparing the real
estate being appraised to similar real estate that have been sold recently. Then applying appropriate units of comparison and making
adjustments to the sale prices of the comparable based on the elements of comparison such as differences in location, size, decoration
and year of completion, etc. to derive at the fair value of the real estate.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>12. MAINLAND CHINA CONTRIBUTION PLAN AND PROFIT APPROPRIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(a) China Contribution Plan</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Full time employees of the Group in the PRC
participate in a government-mandated, multi-employer, defined contribution plan pursuant to which certain pension benefits, medical
care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees. PRC labor regulations
require the Group to accrue for these benefits based on a certain percentage of the employees&rsquo; salaries. Contributions to
defined contribution plans are expensed as incurred. During the years ended December&nbsp;31, 2011, 2012 and 2013, the Group recognized
$2,189,273, $3,325,383 and $3,142,213 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(b) Statutory Reserves</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Foreign invested enterprises in PRC are required
under PRC laws to provide for certain statutory reserves, such as a general reserve, an enterprise expansion fund and a staff welfare
and bonus fund. These entities are required to allocate at least 10% of their after tax profits as reported in their PRC statutory
financial statements to the general reserve and have the right to discontinue allocations to the general reserve if the balance
of such reserve have reached 50% of their registered capital. These statutory reserves are not available for distribution to the
owners (except in liquidation) and may not be transferred in the form of loans, advances or cash dividends. As of December&nbsp;31,
2012 and 2013, $16,803,191 and $16,803,191 was respectively appropriated from the retained earnings of Chongqing Daqo. As a result
of these PRC laws and regulations, the Company&rsquo;s PRC subsidiaries are restricted in their abilities to transfer the registered
capital and statutory reserves to the Company in the form of dividends, loans or advances and the restricted portion amounted to
$124,814,365 and $124,814,365 as of December&nbsp;31, 2012 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>13. INCOME TAXES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>Cayman Islands Tax</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Company is incorporated in the Cayman
Islands and is not subject to tax in this jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>PRC Tax</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Company&rsquo;s subsidiaries are registered
in the PRC as foreign invested enterprises. Under the Laws of the People&rsquo;s Republic of China on Enterprise Income Tax (the
&ldquo;EIT Law&rdquo;) which are effective January&nbsp;1, 2008, the statutory enterprise income tax rate is 25%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Chongqing Daqo is a foreign invested enterprise
located in Chongqing. In accordance with a PRC tax regulation which encourages investment in China&rsquo;s southwest region, Chongqing
Daqo is entitled to a preferential tax rate of 15% from its establishment through 2012. On November 19, 2012, Chongqing Daqo obtained
a High and New Technology Enterprise (&ldquo;HTNE&rdquo;) certificate for a valid period of 3 years till 2014. During the years
ended December 31, 2012 and 2013, Chongqing Daqo was entitled to a preferential tax rate of 15% because of its HTNE status.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Daqo New Material, which was deconsolidated
on December 31, 2013, is a domestic enterprise registered in Chongqing and is subject to an income tax rate of 25% for each of
the three years ended December&nbsp;31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Nanjing Daqo is a foreign-invested enterprise
established on December&nbsp;20, 2007 located in Nanjing. The company started to carry out its operation from July, 2011, and was
disposed on September 28, 2012. It is subject to an income tax rate of 25% for each of the three years ended December&nbsp;31,
2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Xinjiang Daqo is a foreign-invested enterprise
established on February, 2012 located in Shihezi Economic Development Area in Xinjiang Autonomous Region. The entity was subject
to an income tax rate of 25% for the years ended December&nbsp;31, 2012 and 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>United States</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Daqo America was liquidated in 2013 and it
was subject to United States income tax at a combined federal and state tax rate of 40% in 2011, 2012 and 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Under the current EIT Law and implementation
regulations issued by the PRC State Council, an income tax rate of 10% is applicable to interest and dividends payable to investors
that are &ldquo;non-resident enterprises&rdquo;, which do not have an establishment or place of business in the PRC, or which have
such establishment or place of business but the relevant income is not effectively connected with the establishment or place of
business, to the extent such interest or dividends have their sources within the PRC. The Company's PRC subsidiaries did not have
retained earnings as of December&nbsp;31, 2013, therefore, no provision for PRC dividend withholding tax has been provided thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group made its assessment of the level
of authority for each tax position (including the potential application of interests and penalties) based on the tax positions&rsquo;
technical merits, and measured the unrecognized benefits associated with the tax positions. The Group did not have any unrecognized
tax benefits as of December&nbsp;31, 2012 and 2013. The Group does not anticipate that unrecognized tax benefits will significantly
increase or decrease within the next twelve months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">According to PRC Tax Administration and Collection
Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer
or withholding agent. The statute of limitations will be extended five years under special circumstances, which are not clearly
defined (but an underpayment of tax liability exceeding RMB0.1 million is specifically listed as a special circumstance). In the
case of a related party transaction, the statute of limitations is ten years. There is no statute of limitations in the case of
tax evasion. From inception to 2013, the Group&rsquo;s PRC subsidiaries are subject to examination of the PRC tax authorities.
The Group classifies interest and penalties associated with taxes as income tax expense. Such charges were immaterial in the years
ended December&nbsp;31, 2011, 2012 and 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Income tax expenses comprise:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.65in">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year&nbsp;ended&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2011</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 55%; text-align: left; text-indent: -10pt; padding-left: 10pt">Current Tax Expenses (Benefit)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">20,647,400</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(1,894,736</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(162,621</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Deferred Tax Expenses (Benefit)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(19,933,128</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,148,323</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,434,386</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">714,272</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">10,253,587</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,271,765</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The principal components of deferred income
tax assets and liabilities are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.65in">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 70%; text-align: left; text-indent: -10pt; padding-left: 10pt">Net operating loss carried forward</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">13,984,909</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">29,784,578</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Depreciation of property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">554,227</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">493,800</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">Inventory write-down</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,687,349</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,531,750</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Bad debt provision</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">349,466</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,518,953</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Government grants related to assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">320,960</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">423,938</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Long-lived asset impairment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,810,832</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,590,196</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; padding-bottom: 1pt">Others</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">390,491</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">290,652</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Sub-total</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">39,098,234</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,633,867</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Valuation Allowance</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(37,682,733</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(56,633,867</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,415,501</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Deferred tax assets are analyzed as:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">Current</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">358,435</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">Non-current</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,057,066</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group uses the asset and liability method
to record related deferred tax assets and liabilities. In assessing the reliability of deferred tax assets, the Group considers
whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization
of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences
become deductible. Based on the continuous operating losses suffered and the level of projections for future taxable income over
the periods in which the deferred tax assets are deductible, the Group believes it is not more likely than not that the Group will
realize the benefits of these deductible differences of Chongqing Daqo and Xinjiang Daqo as at December&nbsp;31, 2013. The amount
of the deferred tax asset considered realizable, however, could be reduced in the near term if estimates of future taxable income
during the carry-forward period are reduced. Xinjiang Daqo and Chongqing Daqo had net operating losses carried forward of approximately
$12,894,429 and $106,243,882, respectively, which would expire if not used before December 31, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The effective income tax rate of the Group
is different from the expected PRC statutory rate as a result of the following items:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year&nbsp;ended&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2011</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 55%; text-align: left; text-indent: -10pt; padding-left: 10pt">PRC Enterprise Income Tax</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">25</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">25</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">25</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Preferential income tax rate of a subsidiary</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12</TD><TD STYLE="text-align: left">)%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9</TD><TD STYLE="text-align: left">)%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Effect of different reversal rate</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14</TD><TD STYLE="text-align: left">)%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Additional tax deductions</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">Non-deductible expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Different tax rate in other jurisdictions</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1</TD><TD STYLE="text-align: left">)%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Changes in valuation allowance</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(35</TD><TD STYLE="text-align: left">)%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(26</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Prior year adjustment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Effective tax rate</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(10</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(1</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)%</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The aggregate amount and per share effect
of the tax holiday are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year&nbsp;ended&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2011</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">$</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">$</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">$</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 55%; text-align: left">The aggregate dollar effect (in thousands) </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">4,388</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Per share effect-basic </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.02</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Per share effect-diluted </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.02</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>14. SHARE BASED COMPENSATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">On August&nbsp;5, 2009, the Company adopted
the 2009 Share Incentive Plan (the &ldquo;Option Plan&rdquo;) to attract and retain the best available personnel, provide additional
incentives to employees, directors and consultants, and promote the success of the Company&rsquo;s business. As of December&nbsp;31,
2009, share options to purchase of no more than 15,000,000 ordinary shares were authorized and 5,350,000 share options were granted
under the Option Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">During the years ended December&nbsp;31,
2011, 2012 and 2013, the Company granted nil, 1,190,000 and 140,000 share options respectively to its officers, directors and employees,
respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">On January 9, 2012, the Company modified
the exercise price for a total number of 6,520,000 options granted before to $0.42, in order to provide appropriate incentives
to the relevant employees and executive officers of the Company. The fair value of the options under revised terms for three batches
granted on October 31, 2009, October 6, 2010 and December 3, 2010 was $0.22, $0.23 and $0.23, respectively. The total incremental
cost associated with the modification was $638,700, of which $284,123 was recognized immediately for the options vested prior to
the date of the modification and the remaining share based compensation charges of $354,577 will be recognized over a weighted-average
period of 2.12 years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">On January 9, 2012, the Company granted options
to acquire 300,000 ordinary shares to independent directors pursuant to the Option Plan. Thirty percent (30%) of the options will
vest one year following the grant date, thirty percent (30%) of the options will vest on the second year of the vesting commencement
date, and the remaining forty percent (40%) of the options will vest on the third anniversary of the vesting commencement date.
At the same time, the Company granted options to acquire 890,000 ordinary shares to certain officers and employees pursuant to
the Option Plan. Twenty-five percent (25%) of the options will vest one year following the grant date, and the remaining seventy-five
percent (75%) of the options will vest in thirty-six equal installments over the next three years. These options were granted in
anticipation of services to be provided during the respective service periods. The exercise price is $0.42.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">On April 3, 2013, the Company modified the
exercise price for a total number of 6,796,975 options granted before to $0.25, in order to provide appropriate incentives to the
relevant employees and executive officers of the Company. The fair value of the options under revised terms for four batches granted
on October 31, 2009, October 6, 2010, December 3, 2010, January 9, 2012 was $0.11, $0.12, $0.11 and $0.13, respectively. The total
incremental cost associated with the modification was $191,000, of which $153,085 was recognized immediately for the options vested
prior to the date of the modification and the remaining share-based compensation charges of $37,915 will be recognized over a weighted-average
period of 1.21 years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">On April 3, 2013, the Company granted options
to acquire 140,000 ordinary shares to an independent director pursuant to the Option Plan. Thirty percent (30%) of the options
will vest one year following the service inception date, thirty percent (30%) of the options will vest on the second year of service
inception date, and the remaining forty percent (40%) of the options will vest on the third anniversary of the service inception
date. The exercise price is $0.25.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Company utilized the Binomial option
pricing model to evaluate the fair value of the stock options with reference to the closing price of the Company on the measurement
dates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The following assumptions were used in the
Binomial option pricing model:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.55in">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year Ended December&nbsp;31, 2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">Options<BR>
granted</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Average<BR> risk-free<BR> rate of<BR> return</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Exercise<BR> multiple</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Volatility<BR> rate</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Dividend<BR> yield</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Post-<BR> vesting<BR> forfeiture<BR> rate</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 35%; text-indent: -10pt; padding-left: 10pt">January 9, 2012</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">2.05%</TD><TD STYLE="width: 1%; text-align: left"></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="width: 10%; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2.2 ~ 3.0 times</font></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">58.7%</TD><TD STYLE="width: 1%; text-align: left"></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">0%</TD><TD STYLE="width: 1%; text-align: left"></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">3-9.5%</TD><TD STYLE="width: 1%; text-align: left"></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.55in">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year Ended December&nbsp;31, 2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">Options<BR>
granted</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Average<BR> risk-free<BR> rate of<BR> return</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Exercise<BR> multiple</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Volatility<BR> rate</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Dividend<BR> yield</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Post-<BR> vesting<BR> forfeiture<BR> rate</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 35%; text-indent: -10pt; padding-left: 10pt">April 3, 2013</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">2.29%</TD><TD STYLE="width: 1%; text-align: left"></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2.8 times</font></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">51.78%</TD><TD STYLE="width: 1%; text-align: left"></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">0%</TD><TD STYLE="width: 1%; text-align: left"></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">3%</TD><TD STYLE="width: 1%; text-align: left"></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The risk-free rate of return is based
on the yield curve of China USD sovereign bond commensurate with the same maturity at the respective grant dates. The
exercise multiple is estimated by reference to the proprietary research and empirical studies. The expected volatility is
based on the average of historical daily annualized share price volatility of 6 comparable companies over a normalized period
that commensurate with the option life of 10 years. The post-vesting forfeiture rate is based on the historical data and
management&rsquo;s best</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">estimation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">A summary of the aggregate option activity
and information regarding options outstanding as of December&nbsp;31, 2012 is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.55in">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number&nbsp;of<BR> Options</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<BR> Average<BR> Exercise<BR> Price</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<BR> Average<BR> Remaining<BR> Contract&nbsp;Life</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Aggregate<BR> Intrinsic<BR> Value</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 40%; text-indent: -0.1in; padding-left: 0.1in">Options outstanding on January&nbsp;1, 2013 (after modification of exercise price)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">7,179,500</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">0.25</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Granted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">140,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.25</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt">Forfeited</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(304,912</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.25</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Expired</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(92,918</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.25</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt; padding-bottom: 2.5pt">Exercised</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">(550,420</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">0.25</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in; padding-bottom: 2.5pt">Options outstanding on December&nbsp;31, 2013</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">6,371,250</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">0.25</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">6.42</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in; padding-bottom: 2.5pt">Options vested or expected to vest on December&nbsp;31, 2013</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">5,915,969</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">0.25</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">6.37</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in; padding-bottom: 2.5pt">Options exercisable on December&nbsp;31, 2013</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">5,364,292</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">0.25</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">6.43</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The share-based compensation charge related
to the share options of approximately$2,206,025, $2,249,834 and $1,881,401 was recognized by the Company for the years ended December&nbsp;31,
2011, 2012 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The weighted average grant date fair value
of options granted during the year ended December&nbsp;31, 2011, 2012 and 2013 was $ nil, $0.23 and $0.11, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">As of December&nbsp;31, 2013, there was $
$524,535 in total unrecognized compensation cost related to non-vested stock options, which is expected to be recognized over a
weighted-average period of 1.40 years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>15. RELATED PARTY TRANSACTIONS AND BALANCES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 23pt"><font style="font: 10pt Times New Roman, Times, Serif">(1) &nbsp;</font></td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">The relationships between the Group and related party are as follows:</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 23pt">
<tr style="vertical-align: bottom">
    <TD STYLE="width: 52%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 0.75pt solid"><b>Name of the related party</b></P></td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 46%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 0.75pt solid"><b>Relationship</b></P></td></tr>
<tr>
    <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Daqo Group</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif">An affiliated company representing the parent company of Daqo New Material holding 100% equity ownership of Daqo New Material. Daqo Group and the Company are controlled by same group of shareholders.</font></td></tr>
<tr>
    <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Zhengjiang&nbsp;Daqo&nbsp;Solar&nbsp;Co.&nbsp;Ltd(&ldquo;Zhenjiang&nbsp;Daqo)&nbsp;</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif">An affiliated company which is 100% held by Daqo Group</font></td></tr>
<tr>
    <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Daqo Solar Co. Ltd (&ldquo;Daqo Solar&rdquo;) </font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif">An affiliated company which is 100% held by Daqo Group</font></td></tr>
<tr>
    <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Nanjing Daqo</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif">An affiliated company which was 100% held by the Company before September 28, 2012 and is 100% held by Daqo Group since September 28, 2012</font></td></tr>
<tr>
    <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Daqo Xinjiang Investment Co., Ltd. (&quot;Xinjiang Daqo Investment&quot;)</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif">An affiliated company which is 100% held by Daqo Group</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 23pt"><font style="font: 10pt Times New Roman, Times, Serif">(2) &nbsp;</font></td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">Related party balances:</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The balance with Daqo Group and its subsidiaries
was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The balances due from related parties mainly
include the consideration for the transfer of 100% ownership of Nanjing Daqo to Daqo Group amount due from Zhenjiang Daqo for the
sales of wafer and polysilicon. Such balances are unsecured, interest-free, and are payable on demand. The balances are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.55in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Amount due from related party</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; text-align: left; text-indent: -10pt; padding-left: 10pt">Zhenjiang Daqo</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">10,744</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">6,898,980</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Daqo Group</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,440,129</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,465,561</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Others</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">111,614</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">51,911</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">6,562,487</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">13,416,452</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Balances due to related parties related to
interest free loans received primarily for working capital purposes from Daqo Solar and Xinjiang Daqo Investment, wholly-owned
subsidiaries of Daqo Group. The balances are payable on demand and are as follows:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.55in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Amount due to related party</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; text-align: left; text-indent: -10pt; padding-left: 10pt">Daqo Group</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">5,359,007</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">461,796</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Xinjiang Daqo Investment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,354,620</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,482,300</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Nanjing Daqo</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,645,923</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,651,810</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Daqo Solar</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,497,973</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">66,750,009</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Others</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">850,840</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,191,875</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">23,708,363</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">88,537,790</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 23pt">(3)</TD><TD>The transactions with Daqo Group and its subsidiaries were as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 95%; font: 10pt Times New Roman, Times, Serif; margin-left: 23pt">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Transaction</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Year
    Ended December 31,</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Name of Related parties</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Nature</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">2011</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">2012</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">2013</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 15%; text-align: left"><FONT STYLE="font-size: 8pt">Daqo Group</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%"><FONT STYLE="font-size: 8pt">Sales</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 8pt">1,971</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Purchase-Fixed asset</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">15,787,658</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7,849,533</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Financing-cash in</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,095,120</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">813,105</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Financing-cash out</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,095,120</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">813,105</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Disposition of 100% equity interest of Nan Jing Daqo</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">9,888,742</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Zhenjiang Daqo</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Sales</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">6,958,317</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,799,428</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">13,471,866</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Purchase of cells</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,314,115</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Processing fee</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,209,769</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Daqo Solar</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Purchase-Fixed asset</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">20,562,272</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Prepayment received</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">13,497,973</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Financing-cash in</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">72,199,600</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">76,881,392</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Financing-cash out</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">72,199,600</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">28,379,678</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Interest charged</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,552,126</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Short-term interest free loan extended to Daqo Solar</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">9,898,458</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Nanjing Daqo</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Sales</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">80,126</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Related party interest bearing loan</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,584,820</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Interest charged</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">40,611</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Xinjiang Daqo Investment</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Prepayment received</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,354,620</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Financing-cash in</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">58,389,643</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Financing-cash out</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">40,193,785</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Others subsidiaries under Daqo Group</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Sales</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">427,302</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Purchase-Fixed asset</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,027,001</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">202,556</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">157,742</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">Purchase-Raw material</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">300,574</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5,282</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Rental expense</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">612,856</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Service expense</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">71,426</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Total</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Sales</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">7,387,590</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">2,799,427</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">13,471,866</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Disposition of 100% equity interest in Nanjing
    Daqo</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">9,888,742</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Purchase-Fixed asset</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">38,376,931</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">8,052,089</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">157,742</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Purchase-Raw material</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">3,614,689</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">5,282</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Processing fee</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">1,209,769</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Rental expense</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">612,856</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Service expense</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">71,426</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Interest expense</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">1,552,126</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">40,611</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Prepayment received*</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">15,852,593</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Proceeds from interest free loans</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">75,294,720</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">1,584,820</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">136,084,140</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Repayment of interest free loans</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">85,193,178</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">69,386,568</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* Prepayment has been considered a related party loan given there has been no deliveries since the prepayment was provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Related party transactions with Daqo Group</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2011, the Group purchased auxiliary electricity
transmission and system equipment totaling $15.8 million from Daqo Group. Daqo Group and its subsidiaries are mainly engaged in
High-Low-voltage Electrical System, Components, Environmental Protection, and High-speed Railway Equipment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2011, the Company received an interest
fee loan of $3,095,120 from Daqo Group, which was fully repaid during the year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2012, the Company sold 100% equity interest
in Nanjing Daqo to Daqo Group for a consideration of $9,888,742 and $5,110,085 was owed by Daqo Group as of December 31, 2012.
In addition, the Company purchased fixed assets totaling $7,849,533 from Daqo Group and had $5,359,007 due to Daqo Group as of
December 31, 2012. Furthermore, $1,330,044 was prepaid to purchase fixed assets separately as of December 31, 2012.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2013, the Company received an interest
free loan of $813,105 from Daqo Group, which was fully repaid during the year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Related party transactions with Zhenjiang Daqo</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2011, the Company sold $6,958,317 wafers,
and purchased cells of $3,314,115, and paid processing fees of $1,209,769 to Zhenjiang Daqo for tolling arrangements on cells.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2012, the Company sold wafers totaling
of $ 2,179,723 and polysilicon of $619,705 to Zhenjiang Daqo.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2013, the Company sold wafers totaling
of $8,871,220 and polysilicon of $4,600,646 to Zhenjiang Daqo.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Related party transactions with Daqo Solar</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2011, the Company received loans of $72,199,600
from Daqo Solar, which were fully repaid during the year and accrued interest of $1,552,126. As of December&nbsp;31, 2011, the
Company provided an interest free loan of $9,898,458 to Daqo Solar.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2012, the Company entered into a
polysilicon sales contract with Daqo Solar, and $13,497,973 payment in advance was received as of December 31, 2012. The
prepayment was transfer to an interest free loan in 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2013, the Company received interest free
loans of $76,881,392 from Daqo Solar and repaid $28,379,678 during the year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><B><U>Related party transactions
with Xinjiang Daqo Investment</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2012, the Company entered into a polysilicon
sales contract with Xinjiang Daqo Investment, and $2,354,620 payment in advance was received as of December 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2013, the Company received interest free
loans of $58,389,643 from Xinjiang Daqo Investment and repaid $40,193,785 during the year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Related party transactions with Nanjing Daqo</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In August 2012, the Company entered into
a one-year loan agreement with Nanjing Daqo, of $1,584,820 (RMB10 million). The interest rate is fixed at 6%. In addition, the
Company sold cells of $80,126 to Nanjing Daqo.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2013, the Company agreed with Nanjing
Daqo to extend the loan for one more year, interest free.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Related party transactions with other subsidiaries of
Daqo Group</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2011, the Group purchased auxiliary electricity
transmission and system equipment of $2.0 million from Daqo Group subsidiaries. The Group also sold modules of $427,302 to, purchased
raw materials of $300,574 from and paid service fees of $71,426 to other subsidiaries of Daqo Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2012, the Company purchased equipment
and raw material from other subsidiaries of Daqo Group at the cost of $ 202,556 and $ 5,282, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In 2013, the Company purchase equipment from
other subsidiaries of Daqo Group at the cost of $157,742.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>16. EARNINGS PER SHARE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The calculation of earnings per share is
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Numerator used in basic and diluted earnings per share:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left; padding-bottom: 1pt">Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders&mdash;basic and diluted</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">33,323,952</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">(111,928,891</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">(70,943,484</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Denominator used in basic and diluted earnings per share:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Share options</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Weighted average number of ordinary shares outstanding used in computing earnings per share&mdash;basic and diluted</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">175,714,103</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">175,067,343</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">173,068,420</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">NET INCOME (LOSS) ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE&mdash;Basic and Diluted</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.19</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.64</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.41</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Outstanding employee options totaling of
6,805,000, 7,179,500 and 6,371,250 were excluded from the computation of diluted earnings per share as their effects would have
been anti-dilutive for the year ended December&nbsp;31, 2011, 2012 and 2013, respectively.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>17. COMMITMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>Capital commitments</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">As of December&nbsp;31, 2013, commitments
outstanding for the purchase of property, plant and equipment approximated $36.7 million, which will be due subsequent to receipt
of the purchases.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>Lease commitments</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group has operating lease commitments
principally for its office in Shanghai. The lease expense was $612,856, $580,724 and $164,811 for the year ended December&nbsp;31,
2011, 2012 and 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Future minimum lease payments are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif; margin-left: 1in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left">Year ending December&nbsp;31</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">USD</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 80%; text-align: left; text-indent: -10pt; padding-left: 30pt">2014</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 17%; text-align: right">1,121,476</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 30pt">2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,073,299</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 30pt">2016</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,073,299</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: -10pt; padding-left: 30pt; text-align: left; padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">3,268,074</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>18. VARIABLE INTEREST ENTITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The equity interests in Daqo New Material,
the VIE, are funded by Daqo Group. Daqo New Material was structured to acquire land use rights and to erect certain facilities
for the future use of the Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The lease agreement with the VIE is structured
such that Chongqing Daqo protect Daqo Group from potential losses from Daqo New Material. As a result of this agreement, Chongqing
Daqo is the primary beneficiary of Daqo New Material. Lease income and expenses and associated receivables and payables are eliminated
upon consolidation as intercompany transactions. Net income of the VIE is reflected as an adjustment to noncontrolling interest.
The Company relies on the lease agreements with Daqo New Material for material property, plant and equipment necessary for production.
If Daqo New Material fails to perform or terminates the lease agreement for any reason, including, for example, due to its breach
of the agreement or the unavailability of any required governmental approvals, or if it refuses to extend or renew the lease agreement
when the agreement expires, and the Company cannot find an immediately available alternative source for leasing similar property,
plant and equipment, then the Company&rsquo;s ability to carry on the operations will be impaired. If Daqo New Material fails to
perform its obligations, the Company may need to initiate legal procedures to enforce the agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">On December 31, 2013, Chongqing Daqo and
Daqo New Material terminated this lease agreement. As a result of the change, Chongqing Daqo no longer has the power to direct
the activities that most significantly impact Daqo New Material's operations, and as such Chongqing Daqo ceased to be the primary
beneficiary of Daqo New Material and deconsolidated the entity on the date the lease arrangement was terminated, December 30, 2013.
No gain or loss was recorded on termination of VIE arrangement. After deconsolidation, Daqo New Material remains a related party
of the Group. On January 1, 2014, Chongqing Daqo signed a new operating lease agreement with Daqo New Material with respect to
certain limited facilities, including the dining hall, office space and portions of the employee dormitory which it uses for its
wafer business located nearby. The term of the lease is three years and the annual rental for these facilities is approximately
$1 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Daqo New Material leased all of its assets
for use in the Group&rsquo;s operations. Significant assets, liabilities, revenues, operating costs and expenses and net income
of the VIE are as follows:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-indent: -10pt; padding-left: 10pt">Cash</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">189,312</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">162,396,825</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Prepaid land use rights</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,632,643</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Total Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">173,450,176</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Short-term borrowings, including current portion of long-term borrowings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">19,257,600</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Accrued expenses and other current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">512,708</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Amount due to related party</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">467,568</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">Long-term borrowings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14,443,200</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Total Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">34,678,046</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%; text-indent: -10pt; padding-left: 10pt">Revenues*</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">16,852,928</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">10,743,336</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">**</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Operating costs and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">15,262,768</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14,451,810</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">150,147,024</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Net income (loss)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,590,160</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(3,708,474</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(150,147,024</TD><TD STYLE="text-align: left">)</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*Rental income, eliminated in consolidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">** The lease term was amended at the beginning of 2013 and reduced the rent to 0 per month and was later
terminated on December 30, 2013.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>19. SEGMENT INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group&rsquo;s chief operating decision
maker has been identified as the chief executive officer, who reviews consolidated results when making decisions about allocating
resources and assessing performance of the Group. Following the further expansion of module business and entering into the wafer
business in 2011, the Group operated and viewed its performance in three segments. However, on September 28, 2012, the module business
was disposed (see Note 3). Therefore, only two segments remained in 2012 and 2013 and the segment information in prior years was
restated to be consistent with the current year reportable segments. The following tables summarized the Company&rsquo;s revenue
and cost generated from different revenue streams. Substantially all of its revenues are derived in the PRC. The Group&rsquo;s
long-lived assets and operations are substantially all located in the PRC.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The following table summarizes the Group&rsquo;s
revenue by segment:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Year ended December&nbsp;31, 2011</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Polysilicon</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Wafer</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Elimination</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 48%; text-align: left">Revenue - External</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">218,915,487</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">13,254,092</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">232,169,579</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Revenue - Intersegment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,696,573</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(1,696,573</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total revenue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">220,612,060</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">13,254,092</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(1,696,573</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">232,169,579</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Cost</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">125,962,033</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">20,680,565</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(1,696,573</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">144,946,025</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Gross profit (loss)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">94,650,027</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">(7,426,473</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">&mdash;</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">87,223,554</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Year ended December&nbsp;31, 2012</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Polysilicon</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Wafer</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Elimination</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 48%; text-align: left">Revenue - External</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">73,450,807</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">13,407,594</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">86,858,401</TD><TD STYLE="width: 1%; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Revenue - Intersegment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">6,067,339</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(6,067,339</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Total revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">79,518,146</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,407,594</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,067,339</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">86,858,401</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Cost</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">110,243,043</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">20,114,680</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(6,067,339</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">124,290,384</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Gross profit (loss)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">(30,724,897</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">(6,707,086</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">&mdash;</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">(37,431,983</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">)</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Year ended December&nbsp;31, 2013</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Polysilicon</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Wafer</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Elimination</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 48%; text-align: left">Revenue &ndash; External</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">76,721,105</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">32,278,700</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">108,999,805</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Revenue - Intersegment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13,195,838</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(13,195,838</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Total revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">89,916,943</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32,278,700</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(13,195,838</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">108,999,805</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Cost</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">98,684,325</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">49,614,921</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(13,195,838</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">135,103,408</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Gross profit (loss)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(8,767,382</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(17,336,221</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(26,103,603</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The following customers accounted for 10%
or more of revenues:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif; margin-left: 1in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December&nbsp;31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 52%; text-align: left">Customer A</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">28,219,079</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">21,749,284</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Customer B</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">27,214,590</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Customer D</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">33,140,475</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Customer G</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">28,570,338</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Customer I</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> *</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">19,644,488</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Customer L</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">13,471,873</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 97%; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Represents less than 10%</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>20. SUBSEQUENT EVENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 16.45pt"></TD><TD STYLE="width: 21.75pt">(a)</TD><TD>(a)	On January 28, 2014, the Company granted options to acquire 6,274,166 ordinary shares respectively to independent directors, executive officers and employees pursuant to the Option Plan. Twenty-five percent (25%) of the options will vest six months after the grant date, Twenty-five percent (25%) of the options will vest twelve months after the grant date, and the remaining fifty percent (50%) of the options will vest ratably over the twenty- four month period after the anniversary of the grant date. These options were granted in anticipation of services to be provided during the respective service periods. The exercise price is $1.49.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FINANCIAL STATEMENT SCHEDULE I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FINANCIAL INFORMATION OF PARENT COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BALANCE SHEET</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DECEMBER 31, 2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">ASSETS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">CURRENT ASSETS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-align: left; padding-left: 0.25in">Cash and cash equivalents</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">5,669,834</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">5,187,046</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Prepaid expenses and other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">593,707</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">177,487</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Amount due from related party</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,110,085</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,110,085</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Total current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,373,626</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,474,618</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Investments in subsidiaries, net</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">190,945,888</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">127,203,565</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">TOTAL ASSETS</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">202,319,514</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">137,678,183</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 2.25pt">&nbsp;</TD>
    <TD STYLE="font-size: 2.25pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 2.25pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 2.25pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">LIABILITIES AND SHAREHOLDERS&rsquo; EQUITY</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">CURRENT LIABILITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Accrued expenses and other current liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">214,231</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">351,621</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total current liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">214,231</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">351,621</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>EQUITY</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.35in">Ordinary shares ($0.0001 per value 500,000,000 shares authorized as of December 31, 2012 and 2013; 175,714,103 and 175,714,103 shares issued as of December 31, 2012 and 2013, respectively and 172,877,433 and 173,427,853 shares outstanding as of December 31, 2012 and 2013, respectively)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,288</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,343</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Additional paid in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">144,755,902</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">146,676,163</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Retained earnings (accumulated losses)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38,276,015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(32,667,469</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accumulated other comprehensive income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,551,006</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,699,196</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Treasury stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(494,928</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(398,672</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total shareholders&rsquo; equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">202,105,283</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">137,326,561</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">TOTAL LIABILITIES AND EQUITY</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">202,319,514</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">137,678,183</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 135; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FINANCIAL STATEMENT SCHEDULE I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FINANCIAL INFORMATION OF PARENT COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>STATEMENT OF OPERATIONS AND COMPREHENSIVE
INCOME (LOSS) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December&nbsp;31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">OPERATING EXPENSES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left; padding-left: 0.25in">General and administrative</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(2,355,174</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(3,528,728</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(2,979,454</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Research and development</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(75,508</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(175,242</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(76,646</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Total operating expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,430,682</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3,703,970</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3,056,100</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">LOSS FROM OPERATION</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,430,682</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,703,970</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,056,100</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Interest income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">24,852</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,074</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,130</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">NET LOSS BEFORE SHARE OF RESULTS OF SUBSIDIARIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,405,830</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,700,896</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,052,970</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in"><P STYLE="margin: 0pt 0">Equity in earnings (losses) of subsidiaries</P>


</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">35,729,782</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(108,228,045</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(67,890,514</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Net income (loss) attributable to Daqo New Energy Corporation ordinary shareholders</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">33,323,952</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(111,928,941</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(70,943,484</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Other comprehensive income:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Foreign currency translation adjustments</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,167,255</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,206,182</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,148,190</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total other comprehensive income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,167,255</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,206,182</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,148,190</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Comprehensive income (loss)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">45,491,207</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">(109,722,759</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">(66,795,294</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 136; Value: 1 -->
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FINANCIAL STATEMENT SCHEDULE I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FINANCIAL INFORMATION OF PARENT COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>STATEMENT OF CHANGES IN EQUITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR YEARS ENDED DECEMBER 31, 2011, 2012
AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars, except share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Ordinary
    shares</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Treasury
    Stock</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Additional<BR>
    paid in capital</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Retained<BR>
    earnings (accumulated<BR>
    losses)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Accumulated
    <BR>other<BR> comprehensive<BR> income</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Total</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">Number</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 23%"><FONT STYLE="font-size: 8pt">Balance at January&nbsp;1, 2011</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">175,714,103</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">17,571</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">140,305,556</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">116,881,004</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">6,276,868</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">263,480,999</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Net income</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">33,323,952</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">33,323,952</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Other comprehensive income</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">12,167,255</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">12,167,255</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Share-based compensation</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2,206,025</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2,206,025</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 8pt">Balance at December&nbsp;31, 2011</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">175,714,103</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">17,571</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">142,511,581</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">150,204,956</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">18,444,123</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">311,178,231</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Net loss</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(111,928,941</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(111,928,941</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Other comprehensive income</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,206,182</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,206,182</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 8pt">Share-based compensation</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,249,834</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,249,834</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">Repurchase</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(2,836,670</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(283</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(494,928</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(5,513</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(500,724</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Deconsolidation of Nanjing Daqo New Energy
    Co.,Ltd</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">(1,099,299</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">(1,099,299</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 8pt">Balance at December&nbsp;31, 2012</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">172,877,433</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">17,288</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(494,928</FONT></TD><TD STYLE="text-align: left">)<FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">144,755,902</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">38,276,015</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">19,551,006</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">202,105,283</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Net loss</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(70,943,484</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(70,943,484</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Other comprehensive income</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,148,190</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,148,190</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 8pt">Share-based compensation</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,881,401</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,881,401</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Option Exercised</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">550,420</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">55</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">96,256</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">38,860</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">135,171</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Deconsolidation of VIE</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Balance at December&nbsp;31, 2013</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">173,427,853</FONT></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">17,343</FONT></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">(398,672</FONT></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">146,676,163</FONT></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">(32,667,469</FONT></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">23,699,196</FONT></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">137,326,561</FONT></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 137; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FINANCIAL STATEMENT SCHEDULE I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FINANCIAL INFORMATION OF PARENT COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>STATEMENT OF CASH FLOWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2011,
2012 AND 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In U.S. dollars)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year ended December&nbsp;31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">OPERATING ACTIVITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left; padding-left: 0.25in">Net income (loss)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">33,323,952</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(111,928,941</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(70,943,484</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 0.25in">Share of results of subsidiaries</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(35,729,782</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">108,228,045</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">67,890,514</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in">Share-based compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,206,025</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,249,834</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,881,401</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Adjustments to reconcile net income to net cash used in operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.5in">Prepaid expenses and other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(142,001</TD><TD STYLE="text-align: left">))</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(31,207</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">344,717</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0.5in">Changes in other current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(916,531</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">214,231</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">137,390</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.5in">Amount due from related party</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(210,523</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net cash used in operating activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,258,337</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,478,561</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(689,462</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">INVESTING ACTIVITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Capital contributed to subsidiaries</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(37,990,278</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,811,175</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Cash collected from subsidiaries when liquidation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,390,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">71,503</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Disposition of Nanjing Daqo</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,778,657</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Cash used in investing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(37,827,297</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,357,732</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">71,503</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">FINANCING ACTIVITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in">Repurchase of ordinary shares</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(500,724</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.25in">Issuance cost of ordinary shares</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">135,171</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Cash provided by financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(500,724</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">135,171</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">NET INCREASE IN CASH AND CASH EQUIVALENTS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(39,085,634</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,378,447</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(482,788</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">42,377,021</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,291,387</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,669,834</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">CASH AND CASH EQUIVALENTS AT END OF PERIOD</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">3,291,387</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">5,669,834</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">5,187,046</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Supplemental disclosure of cash flow information:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Disposition of Nanjing Daqo:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Total consideration</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9,888,742</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Less: amount due from Daqo Group</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(5,110,085</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0.25in; padding-bottom: 1pt">Total cash consideration received</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">4,778,657</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">-</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FINANCIAL STATEMENT SCHEDULE I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Notes to Schedule I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.4in">1.</TD><TD STYLE="text-align: justify">Schedule I has been provided pursuant to the requirements of Rule 12-04(a) and 5-04(c) of Regulation
S-X, which require condensed financial information as to the financial position, changes in financial position and results of operations
of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been
presented when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end
of the most recently completed fiscal year.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4in; text-align: justify; text-indent: -0.4in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.4in">2.</TD><TD STYLE="text-align: justify">The condensed financial information of Daqo New Energy Corp has been prepared using the same accounting
policies as set out in the accompanying consolidated financial statements except that the equity method has been used to account
for investments in its subsidiaries.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4in; text-align: justify; text-indent: -0.4in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.4in">3.</TD><TD STYLE="text-align: justify">Certain information and footnote disclosures normally included in financial statements prepared
in accordance with U.S. GAAP have been condensed or omitted. The footnote disclosures contain supplemental information relating
to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the Consolidated
Financial Statements of the Company.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.4in">4.</TD><TD STYLE="text-align: justify">As of December&nbsp;31, 2013, there were no material contingencies, significant provisions of long-term
obligations, mandatory dividend or redemption requirements of redeemable stocks or guarantees of the Company, except for those
which have been separately disclosed in the Consolidated Financial Statement, if any.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4in; text-align: justify; text-indent: -0.4in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*</P>

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<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>v371885_ex2-1.htm
<DESCRIPTION>EXHIBIT 2.1
<TEXT>
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<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif; color: #000000; margin-top: 0pt; margin-bottom: 0pt">J.P.Morgan</P>

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    <TD STYLE="text-align: left; vertical-align: top; width: 19%; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">PARTIES</FONT></TD>
    <TD STYLE="vertical-align: top; width: 69%">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; width: 12%; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">RECITALS</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
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    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 1.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Certain Definitions</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ADR Register</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ADRs; Direct Registration ADRs</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ADS</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Custodian</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(e)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Deliver, execute, issue et al</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(f)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Delivery Order</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(g)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Deposited Securities</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(h)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Direct Registration System</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(i)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Holder</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(j)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Securities Act of 1933</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(k)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Securities Exchange Act of 1934</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(l)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Shares</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(m)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Transfer Office</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(n)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Withdrawal Order</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 2.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ADRs</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 3.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Deposit of Shares</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 4.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Issue of ADRs</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 5.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Distributions on Deposited Securities</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 6.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Withdrawal of Deposited Securities</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 7.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Substitution of ADRs</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 8.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cancellation and Destruction of ADRs, Maintenance of Records</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 9.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The Custodian</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 10.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Co-Registrars and Co-Transfer Agents</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 11.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Lists of Holders</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 12.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Depositary's Agents</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 13.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Successor Depositary</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 14.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Reports</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 15.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Additional Shares</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 16.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Indemnification</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 17.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Notices</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 18.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Miscellaneous</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section 19.</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consent to Jurisdiction</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9</FONT></TD></TR>
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    <TD COLSPAN="2" STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>TESTIMONIUM</B></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>SIGNATURES</B></FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11</FONT></TD></TR>
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<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><B>EXHIBIT A</B></P>

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    <TD COLSPAN="2" STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>FORM OF FACE OF ADR</B></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-1</FONT></TD></TR>
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    <TD STYLE="vertical-align: top; width: 18%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 65%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 17%">&nbsp;</TD></TR>
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    <TD COLSPAN="2" STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Introductory Paragraph</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-1</FONT></TD></TR>
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    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Issuance of ADRs and Pre-Release of ADRs</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-2</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Withdrawal of Deposited Securities</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-3</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Transfers of ADRs</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-3</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(4)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Certain Limitations</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-4</FONT></TD></TR>
<TR STYLE="background-color: #cceeff">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(5)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Taxes</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-5</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(6)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Disclosure of Interests</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-5</FONT></TD></TR>
<TR STYLE="background-color: #cceeff">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(7)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Charges of Depositary</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-6</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(8)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Available Information</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-7</FONT></TD></TR>
<TR STYLE="background-color: #cceeff">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(9)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Execution</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-7</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: #cceeff">
    <TD COLSPAN="2" STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Signature of Depositary</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-7</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: #cceeff">
    <TD COLSPAN="2" STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Address of Depositary's Office</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-7</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: #cceeff">
    <TD COLSPAN="2" STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>FORM OF REVERSE OF ADR</B></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-8</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: #cceeff">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(10)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Distributions on Deposited Securities</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-8</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(11)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Record Dates</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-9</FONT></TD></TR>
<TR STYLE="background-color: #cceeff">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(12)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Voting of Deposited Securities</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-9</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(13)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Changes Affecting Deposited Securities</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-10</FONT></TD></TR>
<TR STYLE="background-color: #cceeff">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(14)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Exoneration</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-11</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(15)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Resignation and Removal of Depositary; the Custodian</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-11</FONT></TD></TR>
<TR STYLE="background-color: #cceeff">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(16)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amendment</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-12</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(17)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Termination</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-12</FONT></TD></TR>
<TR STYLE="background-color: #cceeff">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(18)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Appointment</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-13</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="text-align: left; vertical-align: top; padding-left: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(19)</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Waiver</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A-13</FONT></TD></TR>
</TABLE>
<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin: 0pt 0"></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">DEPOSIT AGREEMENT
dated as of October 6, 2010 (the "Deposit Agreement") among DAQO NEW ENERGY CORP. and its successors (the
"Company"), JPMORGAN CHASE BANK, N.A., as depositary hereunder (the "Depositary"), and all holders from time to time of
American Depositary Receipts issued hereunder ("ADRs") evidencing American Depositary Shares ("ADSs") representing deposited
Shares (defined below).&#160;&#160;The Company hereby appoints the Depositary as depositary for the Deposited Securities and
hereby authorizes and directs the Depositary to act in accordance with the terms set forth in this Deposit
Agreement.&#160;&#160;All capitalized terms used herein have the meanings ascribed to them in Section 1 or elsewhere in this
Deposit Agreement. The parties hereto agree as follows:</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">1.&#160;&#160;<U>Certain
Definitions</U>.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<U>ADR
Register</U>" is defined in paragraph (3) of the form of ADR.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<U>ADRs</U>"
mean the American Depositary Receipts executed and delivered hereunder. ADRs may be either in physical certificated form or Direct
Registration ADRs.&#160;&#160;ADRs in physical certificated form, and the terms and conditions governing the Direct Registration
ADRs (as hereinafter defined), shall be substantially in the form of Exhibit A annexed hereto (the "<U>form of ADR</U>").&#160;&#160;&#160;The
term "<U>Direct Registration ADR</U>" means an ADR, the ownership of which is recorded on the Direct Registration System. References
to "ADRs" shall include certificated ADRs and Direct Registration ADRs, unless the context otherwise requires. The form of ADR
is hereby incorporated herein and made a part hereof; the provisions of the form of ADR shall be binding upon the parties hereto.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Subject
to paragraph (13) of the form of ADR, each "<U>ADS</U>" evidenced by an ADR represents the right to receive five Shares and a pro
rata share in any other Deposited Securities.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<U>Custodian</U>"
means the agent or agents of the Depositary (singly or collectively, as the context requires) and any additional or substitute
Custodian appointed pursuant to Section 9.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
terms "<U>deliver</U>", "<U>execute</U>", "<U>issue</U>", "<U>register</U>", "<U>surrender</U>", "<U>transfer</U>" or "<U>cancel</U>",
when used with respect to Direct Registration ADRs, shall refer to an entry or entries or an electronic transfer or transfers in
the Direct Registration System, and, when used with respect to ADRs in physical certificated form, shall refer to the physical
delivery, execution, issuance, registration, surrender, transfer or cancellation of certificates representing the ADRs.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<U>Delivery
Order</U>" is defined in Section 3.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin: 0pt 0"></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<U>Deposited
Securities</U>" as of any time means all Shares at such time deposited under this Deposit Agreement and any and all other Shares,
securities, property and cash at such time held by the Depositary or the Custodian in respect or in lieu of such deposited Shares
and other Shares, securities, property and cash.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"Direct
Registration System" means the system for the uncertificated registration of ownership of securities established by The Depository
Trust Company ("<U>DTC</U>") and utilized by the Depositary pursuant to which the Depositary may record the ownership of ADRs without
the issuance of a certificate, which ownership shall be evidenced by periodic statements issued by the Depositary to the Holders
entitled thereto. For purposes hereof, the Direct Registration System shall include access to the Profile Modification System maintained
by DTC which provides for automated transfer of ownership between DTC and the Depositary.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<U>Holder</U>"
means the person or persons in whose name an ADR is registered on the ADR Register.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<U>Securities
Act of 1933</U>" means the United States Securities Act of 1933, as from time to time amended.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<U>Securities
Exchange Act of 1934</U>" means the United States Securities Exchange Act of 1934, as from time to time amended.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<U>Shares</U>"
mean the ordinary shares of the Company, and shall include the rights to receive Shares specified in paragraph (1) of the form
of ADR.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<U>Transfer
Office</U>" is defined in paragraph (3) of the form of ADR.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<U>Withdrawal
Order</U>" is defined in Section 6.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">2.&#160;&#160;<U>ADRs</U>.&#160;&#160;(a)&#160;&#160;ADRs
in certificated form shall be engraved, printed or otherwise reproduced at the discretion of the Depositary in accordance with
its customary practices in its American depositary receipt business, or at the request of the Company typewritten and photocopied
on plain or safety paper, and shall be substantially in the form set forth in the form of ADR, with such changes as may be required
by the Depositary or the Company to comply with their obligations hereunder, any applicable law, regulation or usage or to indicate
any special limitations or restrictions to which any particular ADRs are subject.&#160;&#160;ADRs may be issued in denominations
of any number of ADSs.&#160;&#160;ADRs in certificated form shall be executed by the Depositary by the manual or facsimile signature
of a duly authorized officer of the Depositary.&#160;&#160;ADRs in certificated form bearing the facsimile signature of anyone
who was at the time of execution a duly authorized officer of the Depositary shall bind the Depositary, notwithstanding that such
officer has ceased to hold such office prior to the delivery of such ADRs.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;&#160;</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(b)&#160;&#160;<U>Direct
Registration ADRs</U>. Notwithstanding anything in this Deposit Agreement or in the form of ADR to the contrary, ADSs shall be
evidenced by Direct Registration ADRs, unless certificated ADRs are specifically requested by the Holder.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(c)&#160;&#160;Holders
shall be bound by the terms and conditions of this Deposit Agreement and of the form of ADR, regardless of whether their ADRs are
Direct Registration ADRs or certificated ADRs.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">3.&#160;&#160;<U>Deposit
of Shares</U>.&#160;&#160;In connection with the deposit of Shares hereunder, the Depositary or the Custodian may require the following
in form satisfactory to it:&#160;&#160;(a) a written order directing the Depositary to issue to, or upon the written order of,
the person or persons designated in such order a Direct Registration ADR or ADRs evidencing the number of ADSs representing such
deposited Shares (a "<U>Delivery Order</U>"); (b) proper endorsements or duly executed instruments of transfer in respect of such
deposited Shares; (c) instruments assigning to the Depositary, the Custodian or a nominee of either any distribution on or in respect
of such deposited Shares or indemnity therefor; and (d) proxies entitling the Custodian to vote such deposited Shares.&#160;&#160;As
soon as practicable after the Custodian receives Deposited Securities pursuant to any such deposit or pursuant to paragraph (10)
or (13) of the form of ADR, the Custodian shall present such Deposited Securities for registration of transfer into the name of
the Depositary, the Custodian or a nominee of either, to the extent such registration is practicable, at the cost and expense of
the person making such deposit (or for whose benefit such deposit is made) and shall obtain evidence satisfactory to it of such
registration.&#160;&#160;Deposited Securities shall be held by the Custodian for the account and to the order of the Depositary
at such place or places and in such manner as the Depositary shall determine.&#160;&#160;Deposited Securities may be delivered
by the Custodian to any person only under the circumstances expressly contemplated in this Deposit Agreement. To the extent that
the provisions of or governing the Shares make delivery of certificates therefor impracticable, Shares may be deposited hereunder
by such delivery thereof as the Depositary or the Custodian may reasonably accept, including, without limitation, by causing them
to be credited to an account maintained by the Custodian for such purpose with the Company or an accredited intermediary, such
as a bank, acting as a registrar for the Shares, together with delivery of the documents, payments and Delivery Order referred
to herein to the Custodian or the Depositary.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">4.&#160;&#160;<U>Issue
of ADRs</U>.&#160;&#160;After any such deposit of Shares, the Custodian shall notify the Depositary of such deposit and of the
information contained in any related Delivery Order by letter, first class airmail postage prepaid, or, at the request, risk and
expense of the person making the deposit, by cable, telex or facsimile transmission.&#160;&#160;After receiving such notice from
the Custodian, the Depositary, subject to this Deposit Agreement, shall properly issue at the Transfer Office, to or upon the order
of any person named in such notice, an ADR or ADRs registered as requested and evidencing the aggregate ADSs to which such person
is entitled.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">5.&#160;&#160;<U>Distributions
on Deposited Securities</U>.&#160;&#160;To the extent that the Depositary determines in its reasonable discretion that any distribution
pursuant to paragraph (10) of the form of ADR is not practicable with respect to any Holder, the Depositary may make such distribution
as it so deems practicable, including the distribution of foreign currency, securities or property (or appropriate documents evidencing
the right to receive foreign currency, securities or property) or the retention thereof as Deposited Securities with respect to
such Holder's ADRs (without liability for interest thereon or the investment thereof).</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">6.&#160;&#160;<U>Withdrawal
of Deposited Securities</U>.&#160;&#160;In connection with any surrender of an ADR for withdrawal of the Deposited Securities represented
by the ADSs evidenced thereby, the Depositary may require proper endorsement in blank of such ADR (or duly executed instruments
of transfer thereof in blank) and the Holder's written order directing the Depositary to cause the Deposited Securities represented
by the ADSs evidenced by such ADR to be withdrawn and delivered to, or upon the written order of, any person designated in such
order (a "<U>Withdrawal Order</U>"). Directions from the Depositary to the Custodian to deliver Deposited Securities shall be given
by letter, first class airmail postage prepaid, or, at the request, risk and expense of the Holder, by cable, telex or facsimile
transmission.&#160;&#160;Delivery of Deposited Securities may be made by the delivery of certificates (which, if required by law
shall be properly endorsed or accompanied by properly executed instruments of transfer or, if such certificates may be registered,
registered in the name of such Holder or as ordered by such Holder in any Withdrawal Order) or by such other means as the Depositary
may deem practicable, including, without limitation, by transfer of record ownership thereof to an account designated in the Withdrawal
Order maintained either by the Company or an accredited intermediary, such as a bank, acting as a registrar for the Deposited Securities.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">7.&#160;&#160;<U>Substitution
of ADRs</U>.&#160;&#160;The Depositary shall execute and deliver a new Direct Registration ADR in exchange and substitution for
any mutilated certificated ADR upon cancellation thereof or in lieu of and in substitution for such destroyed, lost or stolen certificated
ADR, unless the Depositary has notice that such ADR has been acquired by a bona fide purchaser, upon the Holder thereof filing
with the Depositary a request for such execution and delivery and a sufficient indemnity bond and satisfying any other reasonable
requirements imposed by the Depositary.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">8.&#160;&#160;<U>Cancellation
and Destruction of ADRs; Maintenance of Records</U>.&#160;&#160;All ADRs surrendered to the Depositary shall be cancelled by the
Depositary.&#160;&#160;The Depositary is authorized to destroy ADRs in certificated form so cancelled in accordance with its customary
practices.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">The Depositary agrees to
maintain or cause its agents to maintain records of all ADRs surrendered and Deposited Securities withdrawn under Section 6 hereof
and paragraph (2) of the form of ADR, substitute ADRs delivered under Section 7 hereof, and canceled or destroyed ADRs under this
Section 8, in keeping with the procedures ordinarily followed by stock transfer agents located in the City of New York or as required
by the laws or regulations governing the Depositary.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin: 0pt 0"></P>

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<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">9.&#160;&#160;<U>The Custodian</U>.&#160;&#160;Any
Custodian in acting hereunder shall be subject to the directions of the Depositary and shall be responsible solely to it. The Depositary
shall be responsible for the compliance by the Custodian with any applicable provisions of the Deposit Agreement.&#160;&#160;The
Depositary reserves the right to add, replace or remove a Custodian.&#160;&#160;The Depositary will give prompt notice of any such
action, which will be advance notice if practicable.&#160;&#160;Each Custodian so appointed (other than JPMorgan Chase Bank, N.A.)
shall give written notice to the Company and the Depositary accepting such appointment and agreeing to be bound by the applicable
terms hereof.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Any Custodian may resign
from its duties hereunder by at least 30 days written notice to the Depositary.&#160;&#160;The Depositary may discharge any Custodian
at any time upon notice to the Custodian being discharged.&#160;&#160;Any Custodian ceasing to act hereunder as Custodian shall
deliver, upon the instruction of the Depositary, all Deposited Securities held by it to a Custodian continuing to act. If upon
the effectiveness of such resignation there would be no Custodian acting hereunder, the Depositary shall, promptly after receiving
such notice, appoint a substitute custodian or custodians, each of which shall thereafter be a Custodian hereunder.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">10.&#160;&#160;<U>Co-Registrars
and Co-Transfer Agents</U>.&#160;&#160;The Depositary may appoint and remove (i) co-registrars to register ADRs and transfers,
combinations and split-ups of ADRs and to countersign ADRs in accordance with the terms of any such appointment and (ii) co-transfer
agents for the purpose of effecting transfers, combinations and split-ups of ADRs at designated transfer offices in addition to
the Transfer Office on behalf of the Depositary.&#160;&#160;Each co-registrar or co-transfer agent (other than JPMorgan Chase Bank,
N.A.) shall give notice in writing to the Company and the Depositary accepting such appointment and agreeing to be bound by the
applicable terms of this Deposit Agreement.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">11.&#160;&#160;<U>Lists
of Holders</U>.&#160;&#160;The Company shall have the right to inspect transfer records of the Depositary and its agents and the
ADR Register, take copies thereof and require the Depositary and its agents to supply copies of such portions of such records as
the Company may request.&#160;&#160;The Depositary or its agent shall furnish to the Company promptly upon the written request
of the Company, a list of the names, addresses and holdings of ADSs by all Holders as of a date within seven days of the Depositary's
receipt of such request.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">12.&#160;&#160;<U>Depositary's
Agents</U>.&#160;&#160;The Depositary may perform its obligations under this Deposit Agreement through any agent appointed by it,
provided that the Depositary shall notify the Company of such appointment and shall remain responsible for the performance of such
obligations as if no agent were appointed, subject to paragraph (14) of the form of ADR.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin: 0pt 0"></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">13.&#160;&#160;<U>Successor
Depositary</U>.&#160;&#160;The Depositary may at any time resign as Depositary hereunder by written notice of its election so to
do delivered to the Company, such resignation to take effect upon the appointment of a successor depositary and its acceptance
of such appointment as hereinafter provided.&#160;&#160;The Depositary may at any time be removed by the Company by providing no
less than 90 days prior written notice of such removal to the Depositary, such removal to take effect the later of (i) the 90<FONT STYLE="vertical-align: text-top">th</FONT>
day after such notice of removal is first provided and (ii) the appointment of a successor depositary and its acceptance of such
appointment as hereinafter provided. Notwithstanding the foregoing, if upon the resignation or removal of the Depositary a successor
depositary is not appointed within the applicable 45-day period (in the case of resignation) or 90-day period (in the case of removal)
as specified in paragraph (17) of the form of ADR, then the Depositary may elect to terminate this Deposit Agreement and the ADR
and the provisions of said paragraph (17) shall thereafter govern the Depositary's obligations hereunder.&#160;&#160;In case at
any time the Depositary acting hereunder shall resign or be removed, the Company shall use its best efforts to appoint a successor
depositary, which shall be a bank or trust company having an office in the Borough of Manhattan, The City of New York.&#160;&#160;Every
successor depositary shall execute and deliver to its predecessor and to the Company an instrument in writing accepting its appointment
hereunder, and thereupon such successor depositary, without any further act or deed, shall become fully vested with all the rights,
powers, duties and obligations of its predecessor.&#160;&#160;The predecessor depositary, only upon payment of all sums due to
it and on the written request of the Company, shall (i) execute and deliver an instrument transferring to such successor all rights
and powers of such predecessor hereunder (other than its rights to indemnification and fees owing, each of which shall survive
any such removal and/or resignation), (ii)&#160;duly assign, transfer and deliver all right, title and interest to the Deposited
Securities to such successor, and (iii) deliver to such successor a list of the Holders of all outstanding ADRs.&#160;&#160;Any
such successor depositary shall promptly mail notice of its appointment to such Holders.&#160;&#160;&#160;Any bank or trust company
into or with which the Depositary may be merged or consolidated, or to which the Depositary shall transfer substantially all its
American depositary receipt business, shall be the successor of the Depositary without the execution or filing of any document
or any further act.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">14.&#160;&#160;<U>Reports</U>.&#160;&#160;On
or before the first date on which the Company makes any communication available to holders of Deposited Securities or any securities
regulatory authority or stock exchange, by publication or otherwise, the Company shall transmit to the Depositary a copy thereof
in English or with an English translation or summary.&#160;&#160;The Company has delivered to the Depositary, the Custodian and
any Transfer Office, a copy of all provisions of or governing the Shares and any other Deposited Securities issued by the Company
and, promptly upon any change thereto, the Company shall deliver to the Depositary, the Custodian and any Transfer Office, a copy
(in English or with an English translation) of such provisions as so changed.&#160;&#160;The Depositary and its agents may rely
upon the Company's delivery thereof for all purposes of this Deposit Agreement.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">15.&#160;&#160;<U>Additional
Shares</U>.&#160;&#160;Neither the Company nor any company controlling, controlled by or under common control with the Company
shall issue additional Shares, rights to subscribe for Shares, securities convertible into or exchangeable for Shares or rights
to subscribe for any such securities or shall deposit any Shares under this Deposit Agreement, except under circumstances complying
in all respects with the Securities Act of 1933.&#160;&#160;The Depositary will use reasonable efforts to comply with written instructions
of the Company not to accept for deposit hereunder any Shares identified in such instructions at such times and under such circumstances
as may reasonably be specified in such instructions in order to facilitate the Company's compliance with securities laws in the
United States.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">16.&#160;&#160;<U>Indemnification</U>.
The Company shall indemnify, defend and save harmless each of the Depositary and its agents against any loss, liability or expense
(including reasonable fees and expenses of counsel) which may arise out of acts performed or omitted, in connection with the provisions
of this Deposit Agreement and of the ADRs, as the same may be amended, modified or supplemented from time to time in accordance
herewith by either the Depositary or its agents or their respective directors, employees, agents and affiliates, except, subject
to the penultimate paragraph of this Section 16, for any liability or expense directly arising out of the negligence or willful
misconduct of the Depositary or its agents acting in their capacity as such hereunder.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">The indemnities set forth
in the preceding paragraph shall also apply to any liability or expense which may arise out of any misstatement or alleged misstatement
or omission or alleged omission in any registration statement, proxy statement, prospectus (or placement memorandum), or preliminary
prospectus (or preliminary placement memorandum) relating to the offer or sale of ADSs, except to the extent any such liability
or expense arises out of (i) information relating to the Depositary or its agents (other than the Company), as applicable, furnished
in writing by the Depositary and not changed or altered by the Company expressly for use in any of the foregoing documents or (ii)
if such information is provided, the failure to state a material fact necessary to make the information provided not misleading.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Except as provided in the
next succeeding paragraph, the Depositary shall indemnify, defend and save harmless the Company against any loss, liability or
expense (including reasonable fees and expenses of counsel) incurred by the Company in respect of this Deposit Agreement to the
extent such loss, liability or expense is due to the negligence or willful misconduct of the Depositary or its agents acting in
their capacity as such hereunder.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin: 0pt 0"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Notwithstanding any other
provision of this Deposit Agreement or the ADRs to the contrary, neither the Company nor the Depositary, nor any of their agents,
shall be liable to the other for any indirect, special, punitive or consequential damages (collectively "Special Damages") except
(i) to the extent such Special Damages arise from the gross negligence or willful misconduct of the party from whom indemnification
is sought or (ii) to the extent Special Damages arise from or out of a claim brought by a third party (including, without limitation,
Holders) against the Depositary or its agents, except to the extent such Special Damages arise out of the gross negligence or willful
misconduct of the party seeking indemnification hereunder.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">The obligations set forth
in this Section 16 shall survive the termination of this Deposit Agreement and the succession or substitution of any indemnified
person.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">17.&#160;&#160;<U>Notices</U>.&#160;&#160;Notice
to any Holder shall be deemed given when first mailed, first class postage prepaid, to the address of such Holder on the ADR Register
or received by such Holder. Failure to notify a Holder or any defect in the notification to a Holder shall not affect the sufficiency
of notification to other Holders or to the beneficial owners of ADSs held by such other Holders.&#160;&#160;Notice to the Depositary
or the Company shall be deemed given when first received by it at the address or facsimile transmission number set forth in (a)
or (b), respectively, or at such other address or facsimile transmission number as either may specify to the other by written notice:</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 108pt">&nbsp;</TD>
    <TD STYLE="width: 36pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">JPMorgan Chase Bank, N.A.</FONT></TD></TR>
</TABLE>
<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0 0pt 144pt; font: 10pt Times New Roman, Times, Serif">Four New York
Plaza</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0 0pt 144pt; font: 10pt Times New Roman, Times, Serif">New York, New
York 10004</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0 0pt 144pt; font: 10pt Times New Roman, Times, Serif">Attention:&#160;&#160;ADR
Administration</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0 0pt 144pt; font: 10pt Times New Roman, Times, Serif">Fax: (212) 623-0079</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 108pt">&nbsp;</TD>
    <TD STYLE="width: 36pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Daqo New Energy Corp.</FONT></TD></TR>
</TABLE>
<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0 0pt 144pt; font: 10pt Times New Roman, Times, Serif">666 Longdu Avenue</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0 0pt 144pt; font: 10pt Times New Roman, Times, Serif">Wanzhou, Chongqing
404000</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0 0pt 144pt; font: 10pt Times New Roman, Times, Serif">People&#8217;s
Republic of China</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0 0pt 144pt; font: 10pt Times New Roman, Times, Serif">Attention:
Chief Financial Officer</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0 0pt 144pt; font: 10pt Times New Roman, Times, Serif">Fax: +86.23.6486.6688</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">18.&#160;&#160;<U>Miscellaneous</U>.&#160;&#160;This
Deposit Agreement is for the exclusive benefit of the Company, the Depositary, the Holders, and their respective successors hereunder,
and shall not give any legal or equitable right, remedy or claim whatsoever to any other person.&#160;&#160;The Holders and owners
of ADRs from time to time shall be parties to this Deposit Agreement and shall be bound by all of the provisions hereof.&#160;&#160;If
any such provision is invalid, illegal or unenforceable in any respect, the remaining provisions shall in no way be affected thereby.&#160;&#160;This
Deposit Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which shall
constitute one instrument.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin: 0pt 0"></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">19.&#160;&#160;<U>Consent
to Jurisdiction</U>.&#160;&#160;The Company irrevocably agrees that any legal suit, action or proceeding against the Company brought
by the Depositary or any Holder, arising out of or based upon this Deposit Agreement or the transactions contemplated hereby, may
be instituted in any state or federal court in New York, New York, and, to the fullest extent permitted by law, irrevocably waives
any objection which it may now or hereafter have to the laying of venue of any such proceeding, and irrevocably submits to the
non-exclusive jurisdiction of such courts in any such suit, action or proceeding. The Company also irrevocably agrees that any
legal suit, action or proceeding against the Depositary brought by the Company, arising out of or based upon this Deposit Agreement
or the transactions contemplated hereby, may only be instituted in a state or federal court in New York, New York. The Company
has appointed Law Debenture Corporate Services Inc., 400 Madison Avenue, 4th Floor, New York, New York 10017, as its authorized
agent (the "Authorized Agent") upon which process may be served in any such action arising out of or based on this Deposit Agreement
or the transactions contemplated hereby which may be instituted in any state or federal court in New York, New York by the Depositary
or any Holder, and, to the fullest extent permitted by law, waives any other requirements of or objections to personal jurisdiction
with respect thereto.&#160;&#160;The Company represents and warrants that the Authorized Agent has agreed to act as said agent
for service of process, and the Company agrees to take any and all action, including the filing of any and all documents and instruments,
that may be necessary to continue such appointment in full force and effect as aforesaid. Service of process upon the Authorized
Agent and written notice of such service to the Company shall be deemed, in every respect, effective service of process upon the
Company. If, for any reason, the Authorized Agent named above or its successor shall no longer serve as agent of the Company to
receive service of process in New York, the Company shall promptly appoint a successor acceptable to the Depositary, so as to serve
and will promptly advise the Depositary thereof.&#160;&#160;In the event the Company fails to continue such designation and appointment
in full force and effect, the Company hereby waives personal service of process upon it and consents that any such service of process
may be made by certified or registered mail, return receipt requested, directed to the Company at its address last specified for
notices hereunder, and service so made shall be deemed completed five (5) days after the same shall have been so mailed.&#160;&#160;&#160;Notwithstanding
the foregoing, any action based on this Deposit Agreement may be instituted by the Depositary or any Holder in any competent court
in the Cayman Islands or the People's Republic of China (including the Hong Kong Special Administrative Region).</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">To the extent that the
Company or any of its properties, assets or revenues may have or may hereafter be entitled to, or have attributed to it, any right
of immunity, on the grounds of sovereignty or otherwise, from any legal action, suit or proceeding, from the giving of any relief
in any respect thereof, from setoff or counterclaim, from the jurisdiction of any court, from service of process, from attachment
upon or prior to judgment, from attachment in aid of execution or judgment, or from execution of judgment, or other legal process
or proceeding for the giving of any relief or for the enforcement of any judgment, in any jurisdiction in which proceedings may
at any time be commenced, with respect to its obligations, liabilities or other matter under or arising out of or in connection
with the Shares or Deposited Securities, the ADSs, the ADRs or this Deposit Agreement, the Company, to the fullest extent permitted
by law, hereby irrevocably and unconditionally waives, and agrees not to plead or claim, any such immunity and consents to such
relief and enforcement.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin: 0pt 0"></P>

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<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">EACH PARTY TO THIS DEPOSIT
AGREEMENT (INCLUDING, FOR AVOIDANCE OF DOUBT, EACH HOLDER AND BENEFICIAL OWNER AND/OR HOLDER OF INTERESTS IN ADRS) HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING
AGAINST THE DEPOSITARY AND/OR THE COMPANY DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THE SHARES OR OTHER DEPOSITED SECURITIES,
THE ADSs OR THE ADRs, THE DEPOSIT AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREIN OR THEREIN, OR THE BREACH HEREOF OR THEREOF
(WHETHER BASED ON CONTRACT, TORT, COMMON LAW OR ANY OTHER THEORY).</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0">&#160;</P>

<P STYLE="text-indent: 0pt; margin: 0pt 0"></P>

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<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0">&#160;</P>

<P STYLE="text-align: left; text-indent: 108pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">IN WITNESS WHEREOF, DAQO
NEW ENERGY CORP. and JPMORGAN CHASE BANK, N.A. have duly executed this Deposit Agreement as of the day and year first above set
forth and all holders of ADRs shall become parties hereto upon acceptance by them of ADRs issued in accordance with the terms hereof.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 216pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">DAQO NEW ENERGY CORP.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 216pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">By: <U>/s/ Gongda Yao&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="text-align: left; text-indent: 216pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Name: Gongda Yao</P>

<P STYLE="text-align: left; text-indent: 216pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Title: Director and
Chief Executive Officer</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 216pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">JPMORGAN CHASE BANK, N.A.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 216pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">By: <U>/s/ Joseph M.
Leinhause&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="text-align: left; text-indent: 216pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Name: Joseph M. Leinhause</P>

<P STYLE="text-align: left; text-indent: 216pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Title:&#160;&#160;Vice
President</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin: 0pt 0"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">EXHIBIT A</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">ANNEXED TO AND INCORPORATED
IN</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><U>DEPOSIT AGREEMENT</U></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">[FORM OF FACE OF ADR]</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0">&#160;</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="background-color: white; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="width: 25%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">____&#160;</FONT></TD>
    <TD STYLE="width: 25%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">No. of ADSs:</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: left; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Number</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP>
        <P STYLE="margin-top: 0pt; margin-bottom: 0pt">&#160;</P>
        <P STYLE="margin-top: 0pt; margin-bottom: 0pt">Each ADS represents<BR>
        <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Five Shares</FONT></P>
        <P STYLE="margin-top: 0pt; margin-bottom: 0pt">&#160;</P>
        <P STYLE="margin-top: 0pt; margin-bottom: 0pt">CUSIP:</P></TD></TR>
</TABLE>
<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0">&#160;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">AMERICAN DEPOSITARY RECEIPT</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">evidencing</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">AMERICAN DEPOSITARY SHARES</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">representing</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">ORDINARY SHARES</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">of</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">DAQO NEW ENERGY CORP.</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(Incorporated under the
laws of the Cayman Islands)</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 81pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">JPMORGAN CHASE BANK,
N.A., a national banking association organized under the laws of the United States of America, as depositary hereunder (the
"Depositary"), hereby certifies
that&#160;<U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U>&#160;is the registered
owner (a "Holder") of <U>&#160;</U> American Depositary Shares ("ADSs"), each (subject to paragraph (13)) representing five
ordinary shares (including the rights to receive Shares described in paragraph (1), "Shares" and, together with any
other securities, cash or property from time to time held by the Depositary in respect or in lieu of deposited Shares, the
"Deposited Securities"), of Daqo New Energy Corp., a corporation organized under the laws of the Cayman Islands (the
"Company"), deposited under the Deposit Agreement dated as of October 6, 2010 (as amended from time to time,
the "Deposit Agreement") among the Company, the Depositary and all Holders from time to time of American Depositary Receipts
issued thereunder ("ADRs"), each of whom by accepting an ADR becomes a party thereto.&#160;&#160;The Deposit Agreement and
this ADR (which includes the provisions set forth on the reverse hereof) shall be governed by and construed in accordance
with the laws of the State of New York.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(1)&#160;&#160;<U>Issuance
of ADRs; Pre-Release</U>.&#160;&#160;This ADR is one of the ADRs issued under the Deposit Agreement.&#160;&#160;Subject to paragraph
(4), the Depositary may so issue ADRs for delivery at the Transfer Office (defined in paragraph (3)) only against deposit of:&#160;&#160;(a)
Shares in form satisfactory to the Custodian; (b) rights to receive Shares from the Company or any registrar, transfer agent, clearing
agent or other entity recording Share ownership or transactions; or, (c) in accordance with the next paragraph of this paragraph
(1).</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">In its capacity as Depositary,
the Depositary shall not lend Shares or ADSs; provided, however, that the Depositary may issue ADSs prior to the receipt of Shares
(each such transaction a "Pre-Release"). The Depositary may receive ADSs in lieu of Shares to close out a Pre-Release (which ADSs
will promptly be canceled by the Depositary upon receipt by the Depositary). Each such Pre-Release will be subject to a written
agreement whereby the person or entity (the "Applicant") to whom ADSs are to be delivered (a) represents that at the time of the
Pre-Release the Applicant or its customer owns the Shares that are to be delivered by the Applicant under such Pre-Release, (b)
agrees to indicate the Depositary as owner of such Shares in its records and to hold such Shares in trust for the Depositary until
such Shares are delivered to the Depositary or the Custodian, (c) unconditionally guarantees to deliver to the Depositary or the
Custodian, as applicable, such Shares, and (d) agrees to any additional restrictions or requirements that the Depositary deems
appropriate. Each such Pre-Release will be at all times fully collateralized with cash, U.S. government securities or such other
collateral as the Depositary deems appropriate, terminable by the Depositary on not more than five (5) business days' notice and
subject to such further indemnities and credit regulations as the Depositary deems appropriate. The Depositary will normally limit
the number of ADSs involved in such Pre-Release at any one time to thirty percent (30%) of the ADSs outstanding (without giving
effect to Pre-Released ADSs outstanding), provided, however, that the Depositary reserves the right to change or disregard such
limit from time to time as it deems appropriate. The Depositary may also set limits with respect to the number of ADSs involved
in Pre-Release with any one person on a case-by-case basis as it deems appropriate. The Depositary may retain for its own account
any compensation received by it in conjunction with the foregoing. Collateral provided as described above, but not the earnings
thereon, shall be held for the benefit of the Holders (other than the Applicant).</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

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<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Every person depositing
Shares under the Deposit Agreement represents and warrants that such Shares are validly issued and outstanding, fully paid, nonassessable
and free of pre-emptive rights, that the person making such deposit is duly authorized so to do and that such Shares (A) are not
"restricted securities" as such term is defined in Rule 144 under the Securities Act of 1933 ("Restricted Securities") unless at
the time of deposit the requirements of paragraphs (c), (e), (f) and (h) of Rule 144 shall not apply and such Shares may be freely
transferred and may otherwise be offered and sold freely in the United States or (B) have been registered under the Securities
Act of 1933. To the extent the person depositing Shares is an "affiliate" of the Company as such term is defined in Rule 144, the
person also represents and warrants that upon the sale of the ADSs, all of the provisions of Rule 144 which enable the Shares to
be freely sold (in the form of ADSs) will be fully complied with and, as a result thereof, all of the ADSs issued in respect of
such Shares will not be on the sale thereof, Restricted Securities.&#160;&#160;Such representations and warranties shall survive
the deposit of Shares and issuance of ADRs.&#160;&#160;The Depositary will not knowingly accept for deposit under the Deposit Agreement
any Shares required to be registered under the Securities Act of 1933 and not so registered; the Depositary may refuse to accept
for such deposit any Shares identified by the Company in order to facilitate the Company's compliance with such Act.</P>

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<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(2)&#160;&#160;<U>Withdrawal
of Deposited Securities</U>.&#160;&#160;Subject to paragraphs (4) and (5), upon surrender of (i) a certificated ADR in form satisfactory
to the Depositary at the Transfer Office or (ii) proper instructions and documentation in the case of a Direct Registration ADR,
the Holder hereof is entitled to delivery at, or to the extent in dematerialized form from, the Custodian's office of the Deposited
Securities at the time represented by the ADSs evidenced by this ADR.&#160;&#160;At the request, risk and expense of the Holder
hereof, the Depositary may deliver such Deposited Securities at such other place as may have been requested by the Holder.&#160;&#160;Notwithstanding
any other provision of the Deposit Agreement or this ADR, the withdrawal of Deposited Securities may be restricted only for the
reasons set forth in General Instruction I.A.(1) of Form F-6 (as such instructions may be amended from time to time) under the
Securities Act of 1933.</P>

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<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(3)&#160;&#160;<U>Transfers
of ADRs</U>.&#160;&#160;The Depositary or its agent will keep, at a designated transfer office (the "Transfer Office"), (a) a register
(the "ADR Register") for the registration, registration of transfer, combination and split-up of ADRs, and, in the case of Direct
Registration ADRs, shall include the Direct Registration System, which at all reasonable times will be open for inspection by Holders
and the Company for the purpose of communicating with Holders in the interest of the business of the Company or a matter relating
to the Deposit Agreement and (b) facilities for the delivery and receipt of ADRs. The term ADR Register includes the Direct Registration
System.&#160;&#160;&#160;Title to this ADR (and to the Deposited Securities represented by the ADSs evidenced hereby), when properly
endorsed (in the case of ADRs in certificated form) or upon&#160;&#160;delivery to the Depositary of proper instruments of transfer,
is transferable by delivery with the same effect as in the case of negotiable instruments under the laws of the State of New York;
<U>provided</U> that the Depositary, notwithstanding any notice to the contrary, may treat the person in whose name this ADR is
registered on the ADR Register as the absolute owner hereof for all purposes and neither the Depositary nor the Company will have
any obligation or be subject to any liability under the Deposit Agreement to any holder of an ADR, unless such holder is the Holder
thereof.&#160;&#160;Subject to paragraphs (4) and (5), this ADR is transferable on the ADR Register and may be split into other
ADRs or combined with other ADRs into one ADR, evidencing the aggregate number of ADSs surrendered for split-up or combination,
by the Holder hereof or by duly authorized attorney upon surrender of this ADR at the Transfer Office properly endorsed (in the
case of ADRs in certificated form) or upon&#160;&#160;delivery to the Depositary of proper instruments of transfer and duly stamped
as may be required by applicable law; <U>provided</U> that the Depositary may close the ADR Register at any time or from time to
time when deemed expedient by it or <U>when reasonably </U>requested by the Company<U> in order to comply with applicable law</U>.&#160;&#160;At
the request of a Holder, the Depositary shall, for the purpose of substituting a certificated ADR with a Direct Registration ADR,
or vice versa, execute and deliver a certificated ADR or a Direct Registration ADR, as the case may be, for any authorized number
of ADSs requested, evidencing the same aggregate number of ADSs as those evidenced by the certificated ADR or Direct Registration
ADR, as the case may be, substituted.</P>

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<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(4)&#160;&#160;<U>Certain
Limitations</U>.&#160;&#160;Prior to the issue, registration, registration of transfer, split-up or combination of any ADR, the
delivery of any distribution in respect thereof, or, subject to the last sentence of paragraph (2), the withdrawal of any Deposited
Securities, and from time to time in the case of clause (b)(ii) of this paragraph (4), the Company, the Depositary or the Custodian
may require:&#160;&#160;(a) payment with respect thereto of (i) any stock transfer or other tax or other governmental charge, (ii)
any stock transfer or registration fees in effect for the registration of transfers of Shares or other Deposited Securities upon
any applicable register and (iii) any applicable charges as provided in paragraph (7) of this ADR; (b) the production of proof
satisfactory to it of (i) the identity of any signatory and genuineness of any signature and (ii) such other information, including
without limitation, information as to citizenship, residence, exchange control approval, beneficial ownership of any securities,
compliance with applicable law, regulations, provisions of or governing Deposited Securities and terms of the Deposit Agreement
and this ADR, as it may deem necessary or proper; and (c) compliance with such regulations as the Depositary may establish consistent
with the Deposit Agreement.&#160;&#160;The issuance of ADRs, the acceptance of deposits of Shares, the registration, registration
of transfer, split-up or combination of ADRs or, subject to the last sentence of paragraph (2), the withdrawal of Deposited Securities
may be suspended, generally or in particular instances, when the ADR Register or any register for Deposited Securities is closed
or when any such action is deemed advisable by the Depositary or when reasonably requested by the Company in order to comply with
applicable law.</P>

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<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(5)&#160;&#160;<U>Taxes</U>.&#160;&#160;If
any tax or other governmental charge shall become payable by or on behalf of the Custodian or the Depositary with respect to this
ADR, any Deposited Securities represented by the ADSs evidenced hereby or any distribution thereon, such tax or other governmental
charge shall be paid by the Holder hereof to the Depositary.&#160;&#160;The Depositary may refuse to effect any registration, registration
of transfer, split-up or combination hereof or, subject to the last sentence of paragraph (2), any withdrawal of such Deposited
Securities until such payment is made.&#160;&#160;The Depositary may also deduct from any distributions on or in respect of Deposited
Securities, or may sell by public or private sale for the account of the Holder hereof any part or all of such Deposited Securities
(after attempting by reasonable means to notify the Holder hereof prior to such sale), and may apply such deduction or the proceeds
of any such sale in payment of such tax or other governmental charge, the Holder hereof remaining liable for any deficiency, and
shall reduce the number of ADSs evidenced hereby to reflect any such sales of Shares. In connection with any distribution to Holders,
the Company will remit to the appropriate governmental authority or agency all amounts (if any) required to be withheld and owing
to such authority or agency by the Company; and the Depositary and the Custodian will remit to the appropriate governmental authority
or agency all amounts (if any) required to be withheld and owing to such authority or agency by the Depositary or the Custodian.
The Depositary will forward to the Company such information from its records as the Company may reasonably request to enable the
Company to file any necessary reports with governmental authorities or agencies.&#160;&#160;If the Depositary determines that any
distribution in property other than cash (including Shares or rights) on Deposited Securities is subject to any tax that the Depositary
or the Custodian is obligated to withhold, the Depositary may dispose of all or a portion of such property in such amounts and
in such manner as the Depositary deems necessary and practicable to pay such taxes, by public or private sale, and the Depositary
shall distribute the net proceeds of any such sale or the balance of any such property after deduction of such taxes to the Holders
entitled thereto. Each Holder of an ADR or an interest therein agrees to indemnify the Depositary, the Company, the Custodian and
any of their respective directors, employees, agents and affiliates against, and hold each of them harmless from, any claims by
any governmental authority with respect to taxes, additions to tax, penalties or interest arising out of any refund of taxes, reduced
rate of withholding at source or other tax benefit obtained.</P>

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<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(6) <U>Disclosure of Interests</U>.&#160;&#160;To
the extent that the provisions of or governing any Deposited Securities may require disclosure of or impose limits on beneficial
or other ownership of Deposited Securities, other Shares and other securities and may provide for blocking transfer, voting or
other rights to enforce such disclosure or limits, Holders and all persons holding ADRs agree to comply with all such disclosure
requirements and ownership limitations and to comply with any reasonable Company instructions in respect thereof. The Depositary
agrees to forward, upon the request and at the expenses of the Company, any written request for beneficial ownership information
from the Company to the Holders, and at the Company's expense, to promptly forward to the Company any responses received by the
Depositary.&#160;&#160;The Company reserves the right to instruct Holders to deliver their ADSs for cancellation and withdrawal
of the Deposited Securities so as to permit the Company to deal directly with the Holder thereof as a holder of Shares and Holders
agree to comply with such instructions.&#160;&#160;&#160;The Depositary agrees to cooperate with the Company in its efforts to
inform Holders of the Company's exercise of its rights under this paragraph and agrees to consult with, and provide reasonable
assistance without risk, liability or expense on the part of the Depositary, to the Company on the manner or manners in which it
may enforce such rights with respect to any Holder.</P>

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<P STYLE="text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(7)&#160;&#160;<U>Charges
of Depositary</U>.&#160;&#160;The Depositary may charge, and collect from, (i) each person to whom ADSs are issued,&#160;including,
without limitation, issuances&#160;against deposits of Shares,&#160;issuances in respect of Share Distributions, Rights and Other
Distributions (as such terms are defined in paragraph (10)),&#160;issuances pursuant to a stock dividend or stock split declared
by the Company, or issuances pursuant to a merger,&#160;exchange of securities or any other transaction or event affecting the
ADSs or the Deposited Securities, and&#160;(ii) each person surrendering ADSs for withdrawal of Deposited Securities or whose ADSs
are cancelled or reduced for any other reason, U.S.$5.00 for each 100 ADSs (or portion thereof) issued, delivered, reduced, cancelled&#160;or
surrendered (as the case may be). The Depositary may sell (by public or private sale) sufficient securities and property received
in respect of Share Distributions, Rights and Other Distributions prior to such deposit to pay such charge. The following additional
charges shall be incurred by the Holders, by any party depositing or withdrawing Shares or by any party surrendering ADSs, to whom
ADSs are issued (including, without limitation, issuance pursuant to a stock dividend or stock split declared by the Company or
an exchange of stock regarding the ADSs or the Deposited Securities or a distribution of ADSs pursuant to paragraph (10)), whichever
is applicable (i) a fee of up to U.S.$0.02 per ADS for any Cash distribution made pursuant to the Deposit Agreement, (ii) a fee
of U.S.$1.50 per ADR or ADRs for transfers made pursuant to paragraph (3) hereof, (iii) a fee for the distribution or sale of securities
pursuant to paragraph (10) hereof, such fee being in an amount equal to the fee for the execution and delivery of ADSs referred
to above which would have been charged as a result of the deposit of such securities (for purposes of this paragraph (7) treating
all such securities as if they were Shares) but which securities or the net cash proceeds from the sale thereof are instead distributed
by the Depositary to Holders entitled thereto,<B>&#160;</B>(iv) an aggregate fee of up to U.S.$0.02 per ADS per calendar year (or
portion thereof) for services performed by the Depositary in administering the ADRs (which fee may be charged on a periodic basis
during each calendar year and shall be assessed against Holders as of the record date or record dates set by the Depositary during
each calendar year and shall be payable at the sole discretion of the Depositary by billing such Holders or by deducting such charge
from one or more cash dividends or other cash distributions), and (v) reimbursement of such fees, charges and expenses as are incurred
by the Depositary and/or any of the Depositary's agents (including, without limitation, the Custodian and expenses incurred on
behalf of Holders in connection with compliance with foreign exchange control regulations or any law or regulation relating to
foreign investment) in connection with the servicing of the Shares or other Deposited Securities, the delivery of Deposited Securities
or otherwise in connection with the Depositary's or its Custodian's compliance with applicable law, rule or regulation (which charge
shall be assessed on a proportionate basis against Holders as of the record date or dates set by the Depositary and shall be payable
at the sole discretion of the Depositary by billing such Holders or by deducting such charge from one or more cash dividends or
other cash distributions). The Company will pay all other charges and expenses of the Depositary and any agent of the Depositary
(except the Custodian) pursuant to agreements from time to time between the Company and the Depositary, except (i) stock transfer
or other taxes and other governmental charges (which are payable by Holders or persons depositing Shares), (ii) cable, telex and
facsimile transmission and delivery charges incurred at the request of persons depositing, or Holders delivering Shares, ADRs or
Deposited Securities (which are payable by such persons or Holders), (iii) transfer or registration fees for the registration or
transfer of Deposited Securities on any applicable register in connection with the deposit or withdrawal of Deposited Securities
(which are payable by persons depositing Shares or Holders withdrawing Deposited Securities; there are no such fees in respect
of the Shares as of the date of the Deposit Agreement), and (iv) expenses of the Depositary in connection with the conversion of
foreign currency into U.S. dollars (which are paid out of such foreign currency). Such charges may at any time and from time to
time be changed by agreement between the Company and the Depositary.</P>

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<P STYLE="text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(8)&#160;&#160;<U>Available
Information</U>.&#160;&#160;The Deposit Agreement, the provisions of or governing Deposited Securities and any written communications
from the Company, which are both received by the Custodian or its nominee as a holder of Deposited Securities and made generally
available to the holders of Deposited Securities, are available for inspection by Holders at the offices of the Depositary and
the Custodian and at the Transfer Office.&#160;&#160;The Depositary will distribute copies of such communications (or English translations
or summaries thereof) to Holders when furnished by the Company. The Company is subject to the periodic reporting requirements of
the Securities Exchange Act of 1934 and accordingly files certain reports with the United States Securities and Exchange Commission
(the "Commission").&#160;&#160;Such reports and other information may be inspected and copied at public reference facilities maintained
by the Commission located at the date hereof at 100 F Street, NE, Washington, DC 20549.</P>

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<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(9)&#160;&#160;<U>Execution</U>.&#160;&#160;This
ADR shall not be valid for any purpose unless executed by the Depositary by the manual or facsimile signature of a duly authorized
officer of the Depositary.</P>

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<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Dated:</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 216pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">JPMORGAN CHASE BANK, N.A.,
as Depositary</P>

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<P STYLE="text-align: left; text-indent: 216pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">By ...............................................................................</P>

<P STYLE="text-align: left; text-indent: 216pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Authorized Officer</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">The Depositary's office
is located at 4 New York Plaza, New York, New York 10004.</P>

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<P STYLE="text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">[FORM OF REVERSE OF ADR]</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(10)&#160;&#160;<U>Distributions
on Deposited Securities</U>.&#160;&#160;Subject to paragraphs (4) and (5), to the extent practicable, the Depositary will distribute
to each Holder entitled thereto on the record date set by the Depositary therefor at such Holder's address shown on the ADR Register,
in proportion to the number of Deposited Securities (on which the following distributions on Deposited Securities are received
by the Custodian) represented by ADSs evidenced by such Holder's ADRs:&#160;&#160;(a) <U>Cash</U>.&#160;&#160;Any U.S. dollars
available to the Depositary resulting from a cash dividend or other cash distribution or the net proceeds of sales of any other
distribution or portion thereof authorized in this paragraph (10) ("Cash"), on an averaged or other practicable basis, subject
to (i) appropriate adjustments for taxes withheld, (ii) such distribution being impermissible or impracticable with respect to
certain Holders, and (iii) deduction of the Depositary's expenses in (1) converting any foreign currency to U.S. dollars by sale
or in such other manner as the Depositary may determine to the extent that it determines that such conversion may be made on a
reasonable basis, (2) transferring foreign currency or U.S. dollars to the United States by such means as the Depositary may determine
to the extent that it determines that such transfer may be made on a reasonable basis, (3) obtaining any approval or license of
any governmental authority required for such conversion or transfer, which is obtainable at a reasonable cost and within a reasonable
time and (4) making any sale by public or private means in any commercially reasonable manner.&#160;&#160;(b) <U>Shares</U>.&#160;&#160;(i)
Additional ADRs evidencing whole ADSs representing any Shares available to the Depositary resulting from a dividend or free distribution
on Deposited Securities consisting of Shares (a "Share Distribution") and (ii) U.S. dollars available to it resulting from the
net proceeds of sales of Shares received in a Share Distribution, which Shares would give rise to fractional ADSs if additional
ADRs were issued therefor, as in the case of Cash. (c) <U>Rights</U>.&#160;&#160;(i) Warrants or other instruments in the discretion
of the Depositary representing rights to acquire additional ADRs in respect of any rights to subscribe for additional Shares or
rights of any nature available to the Depositary as a result of a distribution on Deposited Securities ("Rights"), to the extent
that the Company timely furnishes to the Depositary evidence satisfactory to the Depositary that the Depositary may lawfully distribute
the same (the Company has no obligation to so furnish such evidence), or (ii) to the extent the Company does not so furnish such
evidence and sales of Rights are practicable, any U.S. dollars available to the Depositary from the net proceeds of sales of Rights
as in the case of Cash, or (iii) to the extent the Company does not so furnish such evidence and such sales cannot practicably
be accomplished by reason of the nontransferability of the Rights, limited markets therefor, their short duration or otherwise,
nothing (and any Rights may lapse).&#160;&#160;(d) <U>Other Distributions</U>.&#160;&#160;(i) Securities or property available
to the Depositary resulting from any distribution on Deposited Securities other than Cash, Share Distributions and Rights&#160;&#160;("Other
Distributions"), by any means that the Depositary may deem equitable and practicable, or (ii) to the extent the Depositary deems
distribution of such securities or property not to be equitable and practicable, any U.S. dollars available to the Depositary from
the net proceeds of sales of Other Distributions as in the case of Cash. Such U.S. dollars available will be distributed by checks
drawn on a bank in the United States for whole dollars and cents. Fractional cents will be withheld without liability and dealt
with by the Depositary in accordance with its then current practices.</P>

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<P STYLE="text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(11)&#160;&#160;<U>Record
Dates</U>.&#160;&#160;The Depositary may, after consultation with the Company if practicable, fix a record date (which, to the
extent applicable, shall be as near as practicable to any corresponding record date set by the Company) for the determination of
the Holders who shall be responsible for the fee assessed by the Depositary for administration of the ADR program and for any expenses
provided for in paragraph (7) hereof as well as for the determination of the Holders who shall be entitled to receive any distribution
on or in respect of Deposited Securities, to give instructions for the exercise of any voting rights, to receive any notice or
to act in respect of other matters and only such Holders shall be so entitled or obligated.</P>

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<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(12)&#160;&#160;<U>Voting
of Deposited Securities</U>.&#160;&#160;As soon as practicable after receipt from the Company of notice of any meeting or solicitation
of consents or proxies of holders of Shares or other Deposited Securities, the Depositary shall distribute to Holders a notice
stating (a) such information as is contained in such notice and any solicitation materials, (b) that each Holder on the record
date set by the Depositary therefor will, subject to any applicable provisions of Cayman Island law, be entitled to instruct the
Depositary as to the exercise of the voting rights, if any, pertaining to the Deposited Securities represented by the ADSs evidenced
by such Holder's ADRs and (c) the manner in which such instructions may be given, including instructions to give a discretionary
proxy to a person designated by the Company.&#160;&#160;Upon receipt of instructions of a Holder on such record date in the manner
and on or before the date established by the Depositary for such purpose, the Depositary shall endeavor insofar as practicable
and permitted under the provisions of or governing Deposited Securities to vote or cause to be voted the Deposited Securities represented
by the ADSs evidenced by such Holder's ADRs in accordance with such instructions.&#160;&#160;The Depositary will not itself exercise
any voting discretion in respect of any Deposited Securities.&#160;&#160;To the extent voting instruction cards are not so received
by the Depositary from any Holder, the Depositary shall deem such Holder to have so instructed the Depositary to give a discretionary
proxy to a person designated by the Company and the Depositary shall endeavor insofar as practicable and permitted under the provisions
of or governing Deposited Securities to give a discretionary proxy to a person designated by the Company to vote the Deposited
Securities represented by the ADSs evidenced by such Holder's ADRs as to which such deemed instructions are so given, provided
that no such instruction shall be deemed given and no discretionary proxy shall be given (i) with respect to any matter as to which
the Company informs the Depositary (and the Company agrees to provide such information promptly in writing when and if applicable)
that (x) the Company does not wish such proxy to be given, (y) substantial opposition exists with respect to any agenda item for
which the proxy would be given or (z) materially affects the rights of holders of Shares and (ii) unless, with respect to such
meeting, the Depositary has been provided with an opinion of counsel to the Company, in form and substance satisfactory to the
Depositary, to the effect that (a) the granting of such discretionary proxy does not subject the Depositary to any reporting obligations
in the Cayman Islands, (b) the granting of such proxy will not result in a violation of Cayman Island law, rule, regulation or
permit, (c) the voting arrangement and deemed instruction as contemplated herein will be given effect under Cayman Island law upon
a discretionary proxy being granted in the manner as aforesaid, and (d)&#160;the granting of such discretionary proxy alone will
not result in the Shares represented by the ADSs being considered subject to attachment or appropriation by creditors of the Custodian
or the Depositary under Cayman Island law, to the extent Cayman Island law is relevant.</P>

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<P STYLE="text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">There is no guarantee that
Holders generally or any Holder in particular will receive the notice described above with sufficient time to enable such Holder
to return any voting instructions to the Depositary in a timely manner.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(13)&#160;&#160;<U>Changes
Affecting Deposited Securities</U>.&#160;&#160;Subject to paragraphs (4) and (5), the Depositary may, in its discretion, amend
this ADR or distribute additional or amended ADRs (with or without calling this ADR for exchange) or cash, securities or property
on the record date set by the Depositary therefor to reflect any change in par value, split-up, consolidation, cancellation or
other reclassification of Deposited Securities, any Share Distribution or Other Distribution not distributed to Holders or any
cash, securities or property available to the Depositary in respect of Deposited Securities from (and the Depositary is hereby
authorized to surrender any Deposited Securities to any person and, irrespective of whether such Deposited Securities are surrendered
or otherwise cancelled by operation of law, rule, regulation or otherwise, to sell by public or private sale any property received
in connection with) any recapitalization, reorganization, merger, consolidation, liquidation, receivership, bankruptcy or sale
of all or substantially all the assets of the Company, and to the extent the Depositary does not so amend this ADR or make a distribution
to Holders to reflect any of the foregoing, or the net proceeds thereof, whatever cash, securities or property results from any
of the foregoing shall constitute Deposited Securities and each ADS evidenced by this ADR shall automatically represent its pro
rata interest in the Deposited Securities as then constituted.</P>

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<P STYLE="text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(14)&#160;&#160;<U>Exoneration</U>.&#160;&#160;The
Depositary, the Company, their agents and each of them shall: (a) incur no liability (i) if any present or future law, rule, regulation
, fiat, order or decree of the United&#160;&#160;States, the Cayman Islands, The People's Republic of China (including the Hong
Kong Special Administrative Region, the People's Republic of China) or any other country, or of any governmental or regulatory
authority or any securities exchange or market or automated quotation system, the provisions of or governing any Deposited Securities,
any present or future provision of the Company's charter, any act of God, war, terrorism or other circumstance beyond its control
shall prevent or delay, or shall cause any of them to be subject to any civil or criminal penalty in connection with, any act which
the Deposit Agreement or this ADR provides shall be done or performed by it or them (including, without limitation, voting pursuant
to paragraph (12) hereof), or (ii) by reason of any exercise or failure to exercise any discretion given it in the Deposit Agreement
or this ADR; (b) assume no liability except to perform its obligations to the extent they are specifically set forth in this ADR
and the Deposit Agreement without gross negligence or bad faith; (c) in the case of the Depositary and its agents, be under no
obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of any Deposited Securities or this
ADR; (d) in the case of the Company and its agents hereunder be under no obligation to appear in, prosecute or defend any action,
suit or other proceeding in respect of any Deposited Securities or this ADR, which in its opinion may involve it in expense or
liability, unless indemnity satisfactory to it against all expense (including fees and disbursements of counsel) and liability
be furnished as often as may be required; or (e) not be liable for any action or inaction by it in reliance upon the advice of
or information from legal counsel, accountants, any person presenting Shares for deposit, any Holder, or any other person believed
by it to be competent to give such advice or information. The Depositary shall not be liable for the acts or omissions made by
any securities depository, clearing agency or settlement system in connection with or arising out of book-entry settlement of Deposited
Securities or otherwise, so long as such acts or omissions are not caused as a direct result of the gross negligence or willful
misconduct of the Depositary.&#160;&#160;&#160;&#160;The Depositary shall not be responsible for, and shall incur no liability
in connection with or arising from, the insolvency of any Custodian that is not a branch or affiliate of JPMorgan Chase Bank, N.A.&#160;&#160;&#160;The
Depositary, its agents and the Company may rely and shall be protected in acting upon any written notice, request, direction or
other document believed by them to be genuine and to have been signed or presented by the proper party or parties.&#160;&#160;The
Depositary and its agents will not be responsible for any failure to carry out any instructions to vote any of the Deposited Securities,
for the manner in which any such vote is cast or for the effect of any such vote.&#160;&#160;The Depositary and its agents may
own and deal in any class of securities of the Company and its affiliates and in ADRs. Notwithstanding anything to the contrary
set forth in the Deposit Agreement or an ADR, the Depositary and its agents may fully respond to any and all demands or requests
for information maintained by or on its behalf in connection with the Deposit Agreement, any Holder or Holders, any ADR or ADRs
or otherwise related hereto or thereto to the extent such information is requested or required by or pursuant to any lawful authority,
including without limitation laws, rules, regulations, administrative or judicial process, banking, securities or other regulators.&#160;&#160;&#160;None
of the Depositary, the Custodian or the Company shall be liable for the failure by any Holder or beneficial owner to obtain the
benefits of credits on the basis of non-U.S. tax paid against such Holder's or beneficial owner's income tax liability. The Depositary
and the Company shall not incur any liability for any tax consequences that may be incurred by Holders and beneficial owners on
account of their ownership of the ADRs or ADSs.&#160;&#160;The Company has agreed to indemnify the Depositary and its agents under
certain circumstances and the Depositary has agreed to indemnify the Company under certain circumstances.&#160;&#160;Neither the
Company nor the Depositary nor any of their agents shall be liable to Holders or beneficial owners of interests in ADSs for any
indirect, special, punitive or consequential damages (including, without limitation, lost profits) of any form incurred by any
person or entity, whether or not foreseeable and regardless of the type of action in which such a claim may be brought. No disclaimer
of liability under the Securities Act of 1933 is intended by any provision hereof.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(15)&#160;&#160;<U>Resignation
and Removal of Depositary; the Custodian</U>. The Depositary may resign as Depositary by written notice of its election so to do
delivered to the Company, such resignation to take effect&#160;upon the appointment of a successor depositary and its acceptance
of such appointment as provided in the Deposit Agreement. &#160;The Depositary may at any time be removed by the Company by no
less than 90 days prior written notice of such removal, to become effective upon the later of (i) the 90th day after delivery of
the notice to the Depositary and (ii) the appointment of a successor depositary and its acceptance of such appointment as provided
in the Deposit Agreement. The Depositary may appoint substitute or additional Custodians and the term "<U>Custodian</U>" refers
to each Custodian or all Custodians as the context requires.</P>

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<P STYLE="text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(16)&#160;&#160;<U>Amendment</U>.&#160;&#160;Subject
to the last sentence of paragraph (2), the ADRs and the Deposit Agreement may be amended by the Company and the Depositary, <U>provided</U>
that any amendment that imposes or increases any fees or charges (other than stock transfer or other taxes and other governmental
charges, transfer or registration fees, cable, telex or facsimile transmission costs, delivery costs or other such expenses), or
that shall otherwise prejudice any substantial existing right of Holders, shall become effective 30 days after notice of such amendment
shall have been given to the Holders.&#160;&#160;Every Holder of an ADR at the time any amendment to the Deposit Agreement so becomes
effective shall be deemed, by continuing to hold such ADR, to consent and agree to such amendment and to be bound by the Deposit
Agreement as amended thereby.&#160;&#160;In no event shall any amendment impair the right of the Holder of any ADR to surrender
such ADR and receive the Deposited Securities represented thereby, except in order to comply with mandatory provisions of applicable
law. Any amendments or supplements which (i) are reasonably necessary (as agreed by the Company and the Depositary) in order for
(a) the ADSs to be registered on Form F-6 under the Securities Act of 1933 or (b) the ADSs or Shares to be traded solely in electronic
book-entry form and (ii) do not in either such case impose or increase any fees or charges to be borne by Holders, shall be deemed
not to prejudice any substantial rights of Holders.&#160;&#160;&#160;Notwithstanding the foregoing, if any governmental body or
regulatory body should adopt new laws, rules or regulations which would require amendment or supplement of the Deposit Agreement
or the form of ADR to ensure compliance therewith, the Company and the Depositary may amend or supplement the Deposit Agreement
and the ADR at any time in accordance with such changed laws, rules or regulations.&#160;&#160;Such amendment or supplement to
the Deposit Agreement in such circumstances may become effective before a notice of such amendment or supplement is given to Holders
or within any other period of time as required for compliance.&#160;Notice of any amendment to the Deposit Agreement or form of
ADRs shall not need to describe in detail the specific amendments effectuated thereby, and failure to describe the specific amendments
in any such notice shall not render such notice invalid, provided, however, that, in each such case, the notice given to the Holders
identifies a means for Holders to retrieve or receive the text of such amendment (i.e., upon retrieval from the Commission's, the
Depositary's or the Company's website or upon request from the Depositary).</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(17)&#160;&#160;<U>Termination</U>.&#160;&#160;The
Depositary may, and shall at the written direction of the Company, terminate the Deposit Agreement and this ADR by mailing notice
of such termination to the Holders at least 30 days prior to the date fixed in such notice for such termination; provided, however,
if the Depositary shall have (i) resigned as Depositary hereunder, notice of such termination by the Depositary shall not be provided
to Holders unless a successor depositary shall not be operating hereunder within 45 days of the date of such resignation, or (ii)
been removed as Depositary hereunder, notice of such termination by the Depositary shall not be provided to Holders unless a successor
depositary shall not be operating hereunder on the 90<FONT STYLE="vertical-align: text-top">th</FONT> day after the Company's notice
of removal was first provided to the Depositary.&#160;&#160;&#160;After the date so fixed for termination, the Depositary and its
agents will perform no further acts under the Deposit Agreement and this ADR, except to receive and hold (or sell) distributions
on Deposited Securities and deliver Deposited Securities being withdrawn.&#160;&#160;As soon as practicable after the expiration
of six months from the date so fixed for termination, the Depositary shall sell the Deposited Securities and shall thereafter (as
long as it may lawfully do so) hold in a segregated account the net proceeds of such sales, together with any other cash then held
by it under the Deposit Agreement, without liability for interest, in trust for the <U>pro</U> <U>rata</U> benefit of the Holders
of ADRs not theretofore surrendered.&#160;&#160;After making such sale, the Depositary shall be discharged from all obligations
in respect of the Deposit Agreement and this ADR, except to account for such net proceeds and other cash.&#160;&#160;After the
date so fixed for termination, the Company shall be discharged from all obligations under the Deposit Agreement except for its
obligations to the Depositary and its agents.</P>

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<P STYLE="text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(18) <U>Appointment.</U>&#160;&#160;&#160;Each
Holder and each person holding an interest in ADSs, upon acceptance of any ADSs (or any interest therein) issued in accordance
with the terms and conditions of the Deposit Agreement shall be deemed for all purposes to (a) be a party to and bound by the terms
of the Deposit Agreement and the applicable ADR(s), and (b) appoint the Depositary its attorney-in-fact, with full power to delegate,
to act on its behalf and to take any and all actions contemplated in the Deposit Agreement and the applicable ADR(s), to adopt
any and all procedures necessary to comply with applicable law and to take such action as the Depositary in its sole discretion
may deem necessary or appropriate to carry out the purposes of the Deposit Agreement and the applicable ADR(s), the taking of such
actions to be the conclusive determinant of the necessity and appropriateness thereof.</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">(19) <U>Waiver</U>.&#160;
EACH PARTY TO THE DEPOSIT AGREEMENT (INCLUDING, FOR AVOIDANCE OF DOUBT, EACH HOLDER AND BENEFICIAL OWNER AND/OR HOLDER OF INTERESTS
IN ADRS) HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY
IN ANY SUIT, ACTION OR PROCEEDING AGAINST THE DEPOSITARY AND/OR THE COMPANY DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO
THE SHARES OR OTHER DEPOSITED SECURITIES, THE ADSs OR THE ADRs, THE DEPOSIT AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREIN OR
THEREIN, OR THE BREACH HEREOF OR THEREOF (WHETHER BASED ON CONTRACT, TORT, COMMON LAW OR ANY OTHER THEORY).</P>

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<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P>&#160;</P>

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<P>&#160;<IMG SRC="image_008.jpg" ALT=""></P>

<P STYLE="text-indent: 0pt; margin-right: 0; margin-left: 0">&nbsp;</P>

<P>&nbsp;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif; color: #000000">J.P.Morgan</P>

<P STYLE="text-align: left">&#160;</P>

<P></P>

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<P STYLE="text-align: center">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif; color: #000000">J.P.Morgan</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>AMENDMENT
NO. 1, </B>dated as of December&#160;11, 2012 (the "Amendment"), to the Deposit Agreement dated as of October 6, 2010
(the "Deposit Agreement") among Daqo New Energy Corp., incorporated under the laws of the Cayman Islands (the "Company"), JPMorgan
Chase Bank, N.A., as depositary (the "Depositary"), and all holders from time to time of American depositary receipts ("ADRs")
issued thereunder.</P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><U>W</U>
<U>I</U> <U>T</U> <U>N</U> <U>E</U> <U>S</U> <U>S</U> <U>E</U> <U>T</U> <U>H</U>:</P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">WHEREAS,
the Company and the Depositary executed the Deposit Agreement for the purposes set forth therein; and</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">WHEREAS,
pursuant to paragraph (16) of the ADRs, the form of which is contained in the Deposit Agreement, the Company and the Depositary
desire to amend the terms of the Deposit Agreement and ADRs.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>NOW,
THEREFORE, </B>for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and
the Depositary hereby agree to amend the Deposit Agreement as follows:</P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>ARTICLE
I</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B><U>DEFINITIONS</U></B></P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
1.01.&#160;&#160;<U>Definitions</U></B>.&#160;&#160;Unless otherwise defined in this Amendment, all capitalized terms used, but
not otherwise defined, herein shall have the meaning given to such terms in the Deposit Agreement.</P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>ARTICLE
II</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B><U>AMENDMENTS
TO DEPOSIT AGREEMENT</U></B></P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
2.01.</B>&#160; All references in the Deposit Agreement to the term "Deposit Agreement" shall, as of the date hereof, refer to
the Deposit Agreement, dated as of October 6, 2010 as further amended by this Amendment.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
2.02.</B>&#160;&#160;As of the open of business (NY time) on December 21, 2012, the number of Shares represented by each ADS is
amended so that each ADS represents twenty five Shares.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
2.03.</B>&#160;&#160;The first two sentences of Section 3 of the Deposit Agreement are amended to read as follows:</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">In
connection with the deposit of Shares hereunder, the Depositary or the Custodian shall require a written order, in a form reasonably
satisfactory to the Depositary, directing the Depositary to issue to, or upon the written order of, the person or persons designated
in such order a Direct Registration ADR or ADRs evidencing the number of ADSs representing such deposited Shares (a "Delivery Order").&#160;&#160;Shares
presented for deposit shall, at the time of such deposit, be registered in the name of JPMorgan Chase Bank, N.A., as depositary
for the benefit of holders of ADRs or in such other name as the Depositary shall direct.</P>

<P STYLE="text-indent: 0pt"></P>

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<P>&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-indent: 0pt"><BR>
&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
2.04.</B>&#160;&#160;Section 9 of the Deposit Agreement is amended to include the following at the conclusion thereof:</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">Notwithstanding
anything to the contrary contained in this Deposit Agreement (including the ADRs), the Depositary shall not be responsible for,
and shall incur no liability in connection with or arising from, any act or omission to act on the part of the Custodian except
to the extent that the Custodian has (i) committed fraud or willful misconduct in the provision of custodial services to the Depositary
or (ii) failed to use reasonable care in the provision of custodial services to the Depositary as determined in accordance with
the standards prevailing in the jurisdiction in which the Custodian is located.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 36pt; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
2.05.</B>&#160;&#160;Section 15 of the Deposit Agreement is amended to include the following immediately after the first sentence
thereof:</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">At
the reasonable request of the Depositary where it deems necessary, the Company will furnish the Depositary with legal opinions,
in a form and from counsel reasonably acceptable to the Depositary, dealing with such issues requested by the Depositary.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
2.06.</B>&#160;&#160;Section 19 of the Deposit Agreement is amended to read as follows:</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">19.&#160;&#160;<U>Consent
to Jurisdiction; Service of Process</U>.&#160;&#160;(a) The Company irrevocably agrees that any legal suit, action or proceeding
against the Company brought by the Depositary or any Holder, arising out of or based upon this Deposit Agreement or the transactions
contemplated hereby, may be instituted in any state or federal court in New York, New York, and irrevocably waives any objection
which it may now or hereafter have to the laying of venue of any such proceeding, and irrevocably submits to the non-exclusive
jurisdiction of such courts in any such suit, action or proceeding. The Company also irrevocably agrees that any legal suit, action
or proceeding against the Depositary brought by the Company, arising out of or based upon this Deposit Agreement or the transactions
contemplated hereby, may only be instituted in a state or federal court in New York, New York.&#160;&#160;Notwithstanding the
foregoing, any action against the Company based on this Deposit Agreement or the transactions contemplated hereby may be instituted
by the Depositary and Holders in any competent court in the Cayman Islands, Hong Kong, the People's Republic of China and/or the
United States, or by the Depositary through the commencement of an arbitration pursuant to Section 19(b) of this Deposit Agreement.</P>

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<P>&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan<BR>
&#160;</P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">The
Company has appointed Law Debenture Corporate Services Inc., 400 Madison Avenue, 4th Floor, New York, New York 10017, as its authorized
agent (the "Authorized Agent") upon which process may be served in any action or proceeding arising out of or based on this Deposit
Agreement or the transactions contemplated hereby by the Depositary or any Holder, and waives any other requirements of or objections
to personal jurisdiction with respect thereto. Such appointment shall be irrevocable. The Company represents and warrants that
the Authorized Agent has agreed to act as said agent for service of process and the Company agrees to take any and all action,
including the filing of any and all documents and instruments, that may be necessary to continue such appointment in full force
and effect.&#160;&#160;The Company further hereby irrevocably consents and agrees to the service of any and all legal process,
summons, notices and documents in any suit, action or proceeding against the Company, by service by mail of a copy thereof upon
the Authorized Agent (whether or not the appointment of such Authorized Agent shall for any reason prove to be ineffective or such
Authorized Agent shall fail to accept or acknowledge such service), with a copy mailed to the Company by registered or certified
air mail, postage prepaid, to its address provided in Section 17(b) hereof. The Company agrees that the failure of the Authorized
Agent to give any notice of such service to the Company shall not impair or affect in any way the validity of such service or any
judgment or award rendered in any action or proceeding based thereon. If, for any reason, the Authorized Agent named above or its
successor shall no longer serve as agent of the Company to receive service of process, notice or papers, the Company shall promptly
advise the Depositary thereof and shall promptly appoint a successor acceptable to the Depositary to serve as Authorized Agent
hereunder.&#160;&#160;In the event the Company fails to continue such designation and appointment in full force and effect as aforesaid,
the Company hereby waives personal service of process upon it and consents that any such service of process may be made by certified
or registered mail, return receipt requested, directed to the Company at its address last specified for notices hereunder, and
service of process so made shall be deemed completed five (5) days after the same shall have been so mailed.</P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 36pt; margin-left: 36pt">&#160;</P>

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<P></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 36pt; margin-left: 36pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Optional
Arbitration.&#160;&#160;Notwithstanding anything in this Deposit Agreement to the contrary, each of the parties hereto (i.e. the
Company, the Depositary and all Holders from time to time of ADRs issued hereunder (and any persons holding interests in ADSs))
agrees that: (i) the Depositary may, in its sole discretion, elect to institute any action, controversy, claim or dispute directly
or indirectly based on, arising out of or relating to this Deposit Agreement or the ADRs or the transactions contemplated hereby
or thereby, including without limitation any question regarding its or their existence, validity, interpretation, performance or
termination (a &#8220;Dispute&#8221;) against any other party or parties hereto (including, without limitation, Disputes brought
against Holders and owners of interests in ADSs), by having the Dispute referred to and finally resolved by an arbitration conducted
under the terms set out below, and (ii) the Depositary may in its sole discretion require, by written notice to the relevant party
or parties, that any Dispute, legal suit, action or proceeding brought by any party or parties hereto (including, without limitation,
Disputes, legal suits, actions or proceedings brought by Holders and owners of interests in ADSs) against the Depositary shall
be referred to and finally settled by an arbitration conducted under the terms set out below. Any such arbitration shall at the
Depositary&#8217;s election be conducted either in New York, New York in accordance with the Commercial Arbitration Rules of the
American Arbitration Association or in Hong Kong following the arbitration rules of the United Nations Commission on International
Trade Law (UNCITRAL) with the Hong Kong International Arbitration Centre serving as the appointing authority, and the language
of any such arbitration shall be English.&#160;&#160;A notice of arbitration may be mailed to the Company at its address last specified
for notices under this Deposit Agreement, and, if applicable, to any Holders at their addresses on the ADR Register.&#160;&#160;In
any case where the Depositary exercises its right to arbitrate hereunder, arbitration of the Dispute shall be mandatory and any
pending litigation arising out of or related to such Dispute shall be stayed. Judgment upon the award rendered by the arbitrators
may be entered in any court having jurisdiction thereof.&#160;&#160;The number of arbitrators shall be three, each of whom shall
be disinterested in the dispute or controversy, shall have no connection with any party thereto, and shall be an attorney experienced
in international securities transactions. Each of the Company and the Depositary shall appoint one arbitrator and the two arbitrators
shall select a third arbitrator who shall serve as chairperson of the tribunal. If a Dispute shall involve more than two parties,
the parties shall attempt to align themselves in two sides (i.e., claimant and respondent), each of which shall appoint one arbitrator
as if there were only two parties to such Dispute. If either or both parties fail to select an arbitrator, or if such alignment
(in the event there are more than two parties) shall not have occurred, within thirty (30) calendar days after the Depositary serves
the arbitration demand or the two arbitrators fail to select a third arbitrator within thirty (30) calendar days of the selection
of the second arbitrator, the American Arbitration Association in the case of an arbitration in New York, or the Hong Kong International
Arbitration Centre in the case of an arbitration in Hong Kong, shall appoint the remaining arbitrator or arbitrators in accordance
with its rules. The parties and the American Arbitration Association and/or the Hong Kong International Arbitration Centre, as
the case may be, may appoint the arbitrators from among the nationals of any country, whether or not the appointing party or any
other party to the arbitration is a national of that country.&#160;&#160;&#160;The arbitrators shall have no authority to award
damages against any party not measured by the prevailing party's actual damages and shall have no authority to award any consequential,
special or punitive damages against any party and may not, in any event, make any ruling, finding or award that does not conform
to the terms and conditions of this Deposit Agreement. In all cases, the fees of the arbitrators and other costs incurred by the
parties in connection with such arbitration shall be paid by the party (or parties) that is (or are) unsuccessful in such arbitration.&#160;No
party hereto shall be entitled to join or consolidate disputes by or against others in any arbitration, or to include in any arbitration
any dispute as a representative or member of a class, or act in any arbitration in the interest of the general public or in a private
attorney general capacity.</P>

<P STYLE="text-indent: 0pt">&#160;</P>

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<P>&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan<BR>
&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">(c)
To the extent that the Company or any of its properties, assets or revenues may have or may hereafter be entitled to, or have
attributed to it, any right of immunity, on the grounds of sovereignty or otherwise, from any legal action, suit or proceeding
(including any arbitration), from the giving of any relief in respect thereof, from setoff or counterclaim, from the jurisdiction
of any court, from service of process, from attachment upon or prior to judgment, from attachment in aid of execution or judgment,
or from execution of judgment, or other legal process or proceeding for the giving of any relief or for the enforcement of any
judgment or arbitral award, in any jurisdiction in which proceedings may at any time be commenced, with respect to its obligations,
liabilities or other matters under or arising out of or in connection with the Shares or Deposited Securities, the ADSs, the ADRs
or this Deposit Agreement, the Company, to the fullest extent permitted by law, hereby irrevocably and unconditionally waives,
and agrees not to plead or claim, any such immunity and consents to such relief and enforcement.</P>

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<P></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-indent: 0pt"><BR>
&#160;</P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">(d)&#160;&#160;Consent.&#160;&#160;By
holding an ADS or an interest therein, Holders and owners of ADSs each irrevocably agree that any legal suit, action or proceeding
against or involving the Company or the Depositary, arising out of or based upon this Deposit Agreement or the transactions contemplated
hereby, may only be instituted in a state or federal court in New York, New York, and by holding an ADS or an interest therein
each irrevocably waives any objection which it may now or hereafter have to the laying of venue of any such proceeding, and irrevocably
submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">(e)&#160;&#160;Waiver.&#160;&#160;EACH
PARTY TO THIS DEPOSIT AGREEMENT (INCLUDING, FOR AVOIDANCE OF DOUBT, EACH HOLDER AND BENEFICIAL OWNER AND/OR HOLDER OF INTERESTS
IN ADRS) HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY
IN ANY SUIT, ACTION OR PROCEEDING AGAINST THE DEPOSITARY AND/OR THE COMPANY DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO
THE SHARES OR OTHER DEPOSITED SECURITIES, THE ADSs OR THE ADRs, THE DEPOSIT AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREIN OR
THEREIN, OR THE BREACH HEREOF OR THEREOF (WHETHER BASED ON CONTRACT, TORT, COMMON LAW OR ANY OTHER THEORY).</P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>ARTICLE
III</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B><U>AMENDMENTS
TO THE FORM OF ADR</U></B></P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
3.01.</B>&#160;&#160;As of the open of business (NY time) on December 21, 2012, the form of ADR, and all outstanding ADRs, are
amended to reflect that each ADS represents twenty five Shares.</P>

<P STYLE="text-indent: 0pt"></P>

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<P></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-indent: 0pt"><BR>
&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
3.02</B>.&#160;&#160;The first sentence of paragraph (5) of the form of ADR and all outstanding ADRs is amended to read as follows:</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">If
any tax or other governmental charges (including any penalties and/or interest) shall become payable by or on behalf of the Custodian
or the Depositary with respect to this ADR, any Deposited Securities represented by the ADSs evidenced hereby or any distribution
thereon, including, without limitation, any Chinese Enterprise Income Tax owing if the Circular Guoshuifa [2009] No. 82 issued
by the Chinese State Administration of Taxation (SAT) or any other circular, edict, order or ruling, as issued and as from time
to time amended, is applied or otherwise, such tax or other governmental charge shall be paid by the Holder hereof to the Depositary
and by holding or having held an ADR the Holder and all prior Holders hereof, jointly and severally, agree to indemnify, defend
and save harmless each of the Depositary and its agents in respect thereof.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 36pt; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
3.03</B>.&#160;&#160;Paragraph (7) of the form of ADR and all outstanding ADRs is amended to read as follows:</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">(7)&#160;&#160;Charges
of Depositary.&#160;&#160;The Depositary may charge, and collect from, (i) each person to whom ADSs are issued, including, without
limitation, issuances against deposits of Shares, issuances in respect of Share Distributions, Rights and Other Distributions (as
such terms are defined in paragraph (10)), issuances pursuant to a stock dividend or stock split declared by the Company, or issuances
pursuant to a merger, exchange of securities or any other transaction or event affecting the ADSs or the Deposited Securities,
and (ii) each person surrendering ADSs for withdrawal of Deposited Securities or whose ADSs are cancelled or reduced for any other
reason, U.S.$5.00 for each 100 ADSs (or portion thereof) issued, delivered, reduced, cancelled or surrendered (as the case may
be). The Depositary may sell (by public or private sale) sufficient securities and property received in respect of Share Distributions,
Rights and Other Distributions prior to such deposit to pay such charge. The following additional charges shall be incurred by
the Holders, by any party depositing or withdrawing Shares or by any party surrendering ADSs, to whom ADSs are issued (including,
without limitation, issuance pursuant to a stock dividend or stock split declared by the Company or an exchange of stock regarding
the ADSs or the Deposited Securities or a distribution of ADSs pursuant to paragraph (10)), whichever is applicable (i) a fee of
up to U.S.$0.05 per ADS for any Cash distribution made pursuant to the Deposit Agreement, (ii) a fee of U.S.$1.50 per ADR or ADRs
for transfers made pursuant to paragraph (3) hereof, (iii) a fee for the distribution or sale of securities pursuant to paragraph
(10) hereof, such fee being in an amount equal to the fee for the execution and delivery of ADSs referred to above which would
have been charged as a result of the deposit of such securities (for purposes of this paragraph (7) treating all such securities
as if they were Shares) but which securities or the net cash proceeds from the sale thereof are instead distributed by the Depositary
to Holders entitled thereto, (iv) an aggregate fee of up to U.S.$0.05 per ADS per calendar year (or portion thereof) for services
performed by the Depositary in administering the ADRs (which fee may be charged on a periodic basis during each calendar year and
shall be assessed against Holders as of the record date or record dates set by the Depositary during each calendar year and shall
be payable at the sole discretion of the Depositary by billing such Holders or by deducting such charge from one or more cash dividends
or other cash distributions), and (v) a fee for the reimbursement of such fees, charges and expenses as are incurred by the Depositary
and/or any of its agents (including, without limitation, the Custodian and expenses incurred on behalf of Holders in connection
with compliance with foreign exchange control regulations or any law or regulation relating to foreign investment) in connection
with the servicing of the Shares or other Deposited Securities, the sale of securities (including, without limitation, Deposited
Securities), the delivery of Deposited Securities or otherwise in connection with the Depositary's or its Custodian's compliance
with applicable law, rule or regulation (which fees and charges shall be assessed on a proportionate basis against Holders as of
the record date or dates set by the Depositary and shall be payable at the sole discretion of the Depositary by billing such Holders
or by deducting such charge from one or more cash dividends or other cash distributions). The Company will pay all other charges
and expenses of the Depositary and any agent of the Depositary (except the Custodian) pursuant to agreements from time to time
between the Company and the Depositary, except (i) stock transfer or other taxes and other governmental charges (which are payable
by Holders or persons depositing Shares), (ii) cable, telex and facsimile transmission and delivery charges incurred at the request
of persons depositing, or Holders delivering Shares, ADRs or Deposited Securities (which are payable by such persons or Holders),
(iii) transfer or registration fees for the registration or transfer of Deposited Securities on any applicable register in connection
with the deposit or withdrawal of Deposited Securities (which are payable by persons depositing Shares or Holders withdrawing Deposited
Securities; there are no such fees in respect of the Shares as of the date of the Deposit Agreement), and (iv) in connection with
the conversion of foreign currency into U.S. dollars, JPMorgan Chase Bank, N.A. shall deduct out of such foreign currency the fees
and expenses charged by it and/or its agent (which may be a division, branch or affiliate) so appointed&#160;&#160;in connection
with such conversion. Such charges may at any time and from time to time be changed by agreement between the Company and the Depositary.</P>

<P STYLE="text-indent: 0pt"></P>

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<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">The
Depositary anticipates reimbursing the Company for certain expenses incurred by the Company that are related to the establishment
and maintenance of the ADR program upon such terms and conditions as the Company and the Depositary may agree from time to time.&#160;&#160;The
Depositary may make available to the Company a set amount or a portion of the Depositary fees charged in respect of the ADR program
or otherwise&#160;upon such terms and conditions as the Company and the Depositary may agree from time to time.</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 36pt; margin-left: 36pt">&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">The
right of the Depositary to receive payment of fees, charges and expenses as provided above shall survive the termination of the
Deposit Agreement. As to any Depositary, upon the resignation or removal of such Depositary, such right shall extend for those
fees, charges and expenses incurred prior to the effectiveness of such resignation or removal.</P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
3.04.</B>&#160;&#160;Paragraph (10) of the form of ADR and all outstanding ADRs is amended to read as follows:</P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">(10)&#160;&#160;<U>Distributions
on Deposited Securities</U>.&#160;&#160;Subject to paragraphs (4) and (5), to the extent practicable, the Depositary will distribute
to each Holder entitled thereto on the record date set by the Depositary therefor at such Holder's address shown on the ADR Register,
in proportion to the number of Deposited Securities (on which the following distributions on Deposited Securities are received
by the Custodian) represented by ADSs evidenced by such Holder's ADRs:&#160;&#160;(a) <U>Cash</U>.&#160;&#160;Any U.S. dollars
available to the Depositary resulting from a cash dividend or other cash distribution or the net proceeds of sales of any other
distribution or portion thereof authorized in this paragraph (10) ("Cash"), on an averaged or other practicable basis, subject
to (i) appropriate adjustments for taxes withheld, (ii) such distribution being impermissible or impracticable with respect to
certain Holders, and (iii) deduction of the Depositary's or its agents' fees and expenses in (1) converting any foreign currency
to U.S. dollars by sale or in such other manner as the Depositary may determine to the extent that it determines that such conversion
may be made on a reasonable basis, (2) transferring foreign currency or U.S. dollars to the United States by such means as the
Depositary may determine to the extent that it determines that such transfer may be made on a reasonable basis, (3) obtaining any
approval or license of any governmental authority required for such conversion or transfer, which is obtainable at a reasonable
cost and within a reasonable time and (4) making any sale by public or private means in any commercially reasonable manner.&#160;&#160;(b)
<U>Shares</U>.&#160;&#160;(i) Additional ADRs evidencing whole ADSs representing any Shares available to the Depositary resulting
from a dividend or free distribution on Deposited Securities consisting of Shares (a "Share Distribution") and (ii) U.S. dollars
available to it resulting from the net proceeds of sales of Shares received in a Share Distribution, which Shares would give rise
to fractional ADSs if additional ADRs were issued therefor, as in the case of Cash. (c) <U>Rights</U>.&#160;&#160;(i) Warrants
or other instruments in the discretion of the Depositary representing rights to acquire additional ADRs in respect of any rights
to subscribe for additional Shares or rights of any nature available to the Depositary as a result of a distribution on Deposited
Securities ("Rights"), to the extent that the Company timely furnishes to the Depositary evidence satisfactory to the Depositary
that the Depositary may lawfully distribute the same (the Company has no obligation to so furnish such evidence), or (ii) to the
extent the Company does not so furnish such evidence and sales of Rights are practicable, any U.S. dollars available to the Depositary
from the net proceeds of sales of Rights as in the case of Cash, or (iii) to the extent the Company does not so furnish such evidence
and such sales cannot practicably be accomplished by reason of the nontransferability of the Rights, limited markets therefor,
their short duration or otherwise, nothing (and any Rights may lapse).&#160;&#160;(d) <U>Other Distributions</U>.&#160;&#160;(i)
Securities or property available to the Depositary resulting from any distribution on Deposited Securities other than Cash, Share
Distributions and Rights&#160;&#160;("Other Distributions"), by any means that the Depositary may deem equitable and practicable,
or (ii) to the extent the Depositary deems distribution of such securities or property not to be equitable and practicable, any
U.S. dollars available to the Depositary from the net proceeds of sales of Other Distributions as in the case of Cash. The Depositary
reserves the right to utilize a division, branch or affiliate of JPMorgan Chase Bank, N.A. to direct, manage and/or execute any
public and/or private sale of securities and/or conversion of foreign currency hereunder.&#160;&#160;&#160;&#160;Any U.S. dollars
available will be distributed by checks drawn on a bank in the United States for whole dollars and cents. Fractional cents will
be withheld without liability and dealt with by the Depositary in accordance with its then current practices.</P>

<P STYLE="text-indent: 0pt"></P>

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<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-indent: 0pt"><BR>
</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
3.05.</B>&#160;&#160;Paragraph (12) of the form of ADR and all outstanding ADRs is amended to include the following at the conclusion
thereof:</P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">Notwithstanding
anything contained in the Deposit Agreement or any ADR, the Depositary may, to the extent not prohibited by law or regulations,
or by the requirements of the stock exchange on which the ADSs are listed, in lieu of distribution of the materials provided to
the Depositary in connection with any meeting of, or solicitation of consents or proxies from, holders of Deposited Securities,
distribute to the Holders a notice that provides Holders with, or otherwise publicizes to Holders, instructions on how to retrieve
such materials or receive such materials upon request (i.e., by reference to a website containing the materials for retrieval or
a contact for requesting copies of the materials).</P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">The
Depositary has been advised by the Company that under the Cayman Islands law and the Memorandum and Articles of Association of
the Company, each as in effect as of the date of the Deposit Agreement, voting at any meeting of shareholders of the Company is
by show of hands unless a poll is (before or on the declaration of the results of the show of hands) demanded.&#160;&#160;&#160;In
the event that voting on any resolution or matter is conducted on a show of hands basis in accordance with the Memorandum and
Articles of Association, the Depositary will refrain from voting and the voting instructions (or the deemed voting instructions,
as set out above) received by the Depositary from Holders shall lapse. The Depositary will not demand a poll or join in demanding
a poll, whether or not requested to do so by Holders of ADSs.</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
3.06.</B>&#160;&#160;Paragraph (14) of the form of ADR and all outstanding ADRs is amended to read as follows:</P>

<P STYLE="text-indent: 0pt"></P>

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<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">(14)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<U>Exoneration</U>.&#160;&#160;The
Depositary, the Company, their agents and each of them shall: (a) incur no liability (i) if any present or future law, rule, regulation
, fiat, order or decree of the United&#160;&#160;States, the Cayman Islands, The People's Republic of China (including the Hong
Kong Special Administrative Region, the People's Republic of China) or any other country, or of any governmental or regulatory
authority or any securities exchange or market or automated quotation system, the provisions of or governing any Deposited Securities,
any present or future provision of the Company's charter, any act of God, war, terrorism or other circumstance beyond its control
shall prevent or delay, or shall cause any of them to be subject to any civil or criminal penalty in connection with, any act
which the Deposit Agreement or this ADR provides shall be done or performed by it or them (including, without limitation, voting
pursuant to paragraph (12) hereof), or (ii) by reason of any exercise or failure to exercise any discretion given it in the Deposit
Agreement or this ADR (including, without limitation, any failure to determine that any distribution or action may be lawful or
reasonably practicable); (b) assume no liability except to perform its obligations to the extent they are specifically set forth
in this ADR and the Deposit Agreement without gross negligence or willful misconduct; (c) in the case of the Depositary and its
agents, be under no obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of any Deposited
Securities or this ADR; (d) in the case of the Company and its agents hereunder be under no obligation to appear in, prosecute
or defend any action, suit or other proceeding in respect of any Deposited Securities or this ADR, which in its opinion may involve
it in expense or liability, unless indemnity satisfactory to it against all expense (including fees and disbursements of counsel)
and liability be furnished as often as may be required; or (e) not be liable for any action or inaction by it in reliance upon
the advice of or information from legal counsel, accountants, any person presenting Shares for deposit, any Holder, or any other
person believed by it to be competent to give such advice or information. The Depositary shall not be liable for the acts or omissions
made by, or the insolvency of, any securities depository, clearing agency or settlement system. The Depositary shall not be responsible
for, and shall incur no liability in connection with or arising from, the insolvency of any Custodian that is not a branch or
affiliate of JPMorgan Chase Bank, N.A.&#160;&#160;The Depositary shall have not any liability for the price received in connection
with any sale of securities, the timing thereof or any delay in action or omission to act nor shall it be responsible for any
error or delay in action, omission to act, default or negligence on the part of the party so retained in connection with any such
sale or proposed sale.&#160;&#160;Further, the Depositary and its agents disclaim to the maximum extent permitted by law any and
all liability for the price received in connection with any sale of securities or the timing thereof. Notwithstanding anything
to the contrary contained in the Deposit Agreement or this ADR, the Depositary shall not be responsible for, and shall incur no
liability in connection with or arising from, any act or omission to act on the part of the Custodian except to the extent that
the Custodian has been determined by a final non-appealable judgment of a court of competent jurisdiction to have (i) committed
fraud or willful misconduct in the provision of custodial services to the Depositary or (ii) failed to use reasonable care in
the provision of custodial services to the Depositary&#160;&#160;as determined in accordance with the standards prevailing in
the jurisdiction in which the Custodian is located.&#160;&#160;The Depositary, its agents and the Company may rely and shall be
protected in acting upon any written notice, request, direction, instruction or document believed by them to be genuine and to
have been signed, presented or given by the proper party or parties.&#160;&#160;The Depositary shall be under no obligation to
inform Holders or any other holders of an interest in an ADS about the requirements of Cayman Island or People's Republic of China
(including the Hong Kong Special Administrative Region, the People's Republic of China) law, rules or regulations or any changes
therein or thereto. The Depositary and its agents will not be responsible for any failure to carry out any instructions to vote
any of the Deposited Securities, for the manner in which any such vote is cast or for the effect of any such vote. The Depositary
may rely upon instructions from the Company or its counsel in respect of any governmental or agency approval or license required
for any currency conversion, transfer or distribution.&#160;&#160;The Depositary and its agents may own and deal in any class
of securities of the Company and its affiliates and in ADRs. Notwithstanding anything to the contrary set forth in the Deposit
Agreement or an ADR, the Depositary and its agents may fully respond to any and all demands or requests for information maintained
by or on its behalf in connection with the Deposit Agreement, any Holder or Holders, any ADR or ADRs or otherwise related hereto
or thereto to the extent such information is requested or required by or pursuant to any lawful authority, including without limitation
laws, rules, regulations, administrative or judicial process, banking, securities or other regulators.&#160;&#160;&#160;None of
the Depositary, the Custodian or the Company shall be liable for the failure by any Holder or beneficial owner to obtain the benefits
of credits on the basis of non-U.S. tax paid against such Holder's or beneficial owner's income tax liability. The Depositary
and the Company shall not incur any liability for any tax consequences that may be incurred by Holders and beneficial owners on
account of their ownership of the ADRs or ADSs. The Depositary shall not incur any liability for the content of any information
submitted to it by or on behalf of the Company for distribution to the Holders or for any inaccuracy of any translation thereof,
for any investment risk associated with acquiring an interest in the Deposited Securities, for the validity or worth of the Deposited
Securities, for the credit-worthiness of any third party, for allowing any rights to lapse upon the terms of this Deposit Agreement
or for the failure or timeliness of any notice from the Company.&#160;&#160;Notwithstanding anything herein or in the Deposit
Agreement to the contrary, the Depositary and the Custodian(s) may use third party delivery services and providers of information
regarding matters such as pricing, proxy voting, corporate actions, class action litigation and other services in connection herewith
and the Deposit Agreement, and use local agents to provide extraordinary services such as attendance at annual meetings of issuers
of securities. Although the Depositary and the Custodian will use reasonable care (and cause their agents to use reasonable care)
in the selection and retention of such third party providers and local agents, they will not be responsible for any errors or
omissions made by them in providing the relevant information or services.&#160;&#160;The Depositary shall not be liable for any
acts or omissions made by a successor depositary whether in connection with a previous act or omission of the Depositary or in
connection with any matter arising wholly after the removal or resignation of the Depositary, provided that in connection with
the issue out of which such potential liability arises the Depositary performed its obligations without negligence or willful
misconduct while it acted as Depositary.&#160;&#160;By holding an ADS or an interest therein, Holders and owners of ADSs each
irrevocably agree that any legal suit, action or proceeding against or involving the Company or the Depositary, arising out of
or based upon this Deposit Agreement or the transactions contemplated hereby, may only be instituted in a state or federal court
in New York, New York, and by holding an ADS or an interest therein each irrevocably waives any objection which it may now or
hereafter have to the laying of venue of any such proceeding, and irrevocably submits to the exclusive jurisdiction of such courts
in any such suit, action or proceeding. The Company has agreed to indemnify the Depositary and its agents under certain circumstances
and the Depositary has agreed to indemnify the Company under certain circumstances. Neither the Company nor the Depositary nor
any of their agents shall be liable to Holders or beneficial owners of interests in ADSs for any indirect, special, punitive or
consequential damages (including, without limitation, lost profits) of any form incurred by any person or entity, whether or not
foreseeable and regardless of the type of action in which such a claim may be brought. No disclaimer of liability under the Securities
Act of 1933 is intended by any provision hereof.</P>

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<P STYLE="text-indent: 0pt">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
3.07.</B>&#160;&#160;Paragraph (17) of the form of ADR and all outstanding ADRs is amended to read as follows:</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 36pt; margin-left: 36pt; font: 10pt Times New Roman, Times, Serif">(17)&#160;&#160;<U>Termination</U>.&#160;&#160;The
Depositary may, and shall at the written direction of the Company, terminate the Deposit Agreement and this ADR by mailing notice
of such termination to the Holders at least 30 days prior to the date fixed in such notice for such termination; provided, however,
if the Depositary shall have (i) resigned as Depositary hereunder, notice of such termination by the Depositary shall not be provided
to Holders unless a successor depositary shall not be operating hereunder within 45 days of the date of such resignation, or (ii)
been removed as Depositary hereunder, notice of such termination by the Depositary shall not be provided to Holders unless a successor
depositary shall not be operating hereunder on the 90th day after the Company's notice of removal was first provided to the Depositary.&#160;&#160;&#160;After
the date so fixed for termination, (a) all Direct Registration ADRs shall cease to be eligible for the Direct Registration System
and shall be considered ADRs issued on the ADR Register and (b) the Depositary shall use its reasonable efforts to ensure that
the ADSs cease to be DTC eligible so that neither DTC nor any of its nominees shall thereafter be a Holder.&#160;&#160;At such
time as the ADSs cease to be DTC eligible and/or neither DTC nor any of its nominees is a Holder, the Depositary shall (a) instruct
its Custodian to deliver all Deposited Securities to the Company along with a general stock power that refers to the names set
forth on the ADR Register and (b) provide the Company with a copy of the ADR Register (which copy may be sent by email or by any
means permitted under the notice provisions of the Deposit Agreement). Upon receipt of such Deposited Securities and the ADR Register,
the Company shall use its best efforts to issue to each Holder a Share certificate representing the Shares represented by the
ADSs reflected on the ADR Register in such Holder's name and to deliver such Share certificate to the Holder at the address set
forth on the ADR Register.&#160;&#160;After providing such instruction to the Custodian and delivering a copy of the ADR Register
to the Company, the Depositary and its agents will perform no further acts under the Deposit Agreement and this ADR and shall
cease to have any obligations under the Deposit Agreement and/or the ADRs.&#160;&#160;After the Company receives the copy of the
ADR Register and the Deposited Securities, the Company shall be discharged from all obligations under the Deposit Agreement except
(i) to distribute the Shares to the Holders entitled thereto and (ii) for its obligations to the Depositary and its agents.</P>

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<P>&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 36pt; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
3.08.</B>&#160;&#160;The form of ADR, reflecting the amendments set forth in this Article III, is amended and restated to read
as set forth in Exhibit A hereto.</P>

<P STYLE="text-indent: 0pt">&#160;</P>

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<P>&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-indent: 0pt">&#160;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>ARTICLE
IV</B></P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B><U>REPRESENTATIONS
AND WARRANTIES</U></B></P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
4.01.</B>&#160;&#160;<B><U>Representations and Warranties</U></B>.&#160;&#160;The Company represents and warrants to, and agrees
with, the Depositary, that:</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(a)&#160;&#160;This
Amendment, when executed and delivered by the Company, will be duly and validly authorized, executed and delivered by the Company,
and it and the Deposit Agreement as amended hereby constitute the legal, valid and binding obligations of the Company, enforceable
against the Company in accordance with their respective terms, subject to bankruptcy, insolvency, fraudulent transfer, moratorium
and similar laws of general applicability relating to or affecting creditors&#8217; rights and to general equity principles; and</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(b)&#160;&#160;In
order to ensure the legality, validity, enforceability or admissibility into evidence of this Amendment or the Deposit Agreement
as amended hereby,&#160;&#160;neither of such agreements need to be filed or recorded with any court or other authority in the
Cayman Islands, nor does any stamp or similar tax or governmental charge need to be paid in the Cayman Islands on or in respect
of such agreements.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>ARTICLE
V</B></P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B><U>MISCELLANEOUS</U></B></P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
5.01.</B>&#160;&#160;<B><U>Indemnification</U></B>.&#160;&#160;The parties hereto shall be entitled to the benefits of the indemnification
provisions of Section 16 of the Deposit Agreement in connection with any and all liability it or they may incur as a result of
the terms of this Amendment and the transactions contemplated herein.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
5.02.</B>&#160;&#160;<B><U>Effective Time</U>.</B>&#160;&#160;This Agreement is dated, and shall be effective, as of the date set
forth above; provided, however, any amendment that imposes or increases any fees or charges (other than stock transfer or other
taxes and other governmental charges, transfer or registration fees, cable, telex or facsimile transmission costs, delivery costs
or other such expenses), or that shall otherwise prejudice any substantial existing right of Holders, shall not become effective
until 30 days after notice hereof shall have been given to the Holders&#160;&#160;&#160;After the effective time, each Holder shall
be deemed, by continuing to hold ADRs, to have consented and agreed to this Agreement and to be subject to and bound by all of
the terms and conditions of the Deposit Agreement, as amended by this Amendment.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>SECTION
5.03.</B>&#160;&#160;<B><U>Counterparts</U>.&#160;&#160;&#160;</B>This Amendment may be executed in any number of counterparts,
each of which shall be deemed an original and all of which taken together shall constitute one instrument.</P>

<P STYLE="text-indent: 0pt"></P>

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<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-align: left; text-indent: 72pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">IN WITNESS
WHEREOF,&#160;DAQO NEW ENERGY CORP. and JPMORGAN CHASE BANK, N.A. have duly executed this Amendment No. 1 to Deposit Agreement
as of the day and year first above set forth and all holders of ADRs shall become parties hereto upon acceptance by them of ADRs
issued in accordance with the terms hereof.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 216pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">DAQO
NEW ENERGY CORP.</P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 216pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">By:
<U>/s/ Gongda Yao&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="text-align: left; text-indent: 216pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Name: Gongda Yao</P>

<P STYLE="text-align: left; text-indent: 216pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Title:
Chief Executive Officer</P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 216pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">JPMORGAN
CHASE BANK, N.A.</P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 216pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">By:
<U>/s/ Gregory A. Levendis&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="text-align: left; text-indent: 216pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Name:&#160;Gregory A. Levendis</P>

<P STYLE="text-align: left; text-indent: 216pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Title:
Vice President</P>

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<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-indent: 0pt">&#160;</P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">EXHIBIT
A</P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0">&#160;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">ANNEXED
TO AND INCORPORATED IN</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">AMENDMENT
NO. 1 TO&#160;&#160;DEPOSIT AGREEMENT</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">No.
of ADSs:</P>

<P>&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="background-color: white; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top; width: 50%">
        <P>____</P>
        <P>Number&#160;</P></TD>
    <TD STYLE="width: 50%">
        <P>Each ADS represents</P>
        <P>25 Shares</P>
        <P>CUSIP:</P></TD></TR>
</TABLE>
<P>&#160;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">AMERICAN
DEPOSITARY RECEIPT&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">evidencing&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">AMERICAN
DEPOSITARY SHARES&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">representing</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">ORDINARY
SHARES</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">of</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">DAQO
NEW ENERGY CORP.</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(Incorporated
under the laws of the Cayman Islands)</P>

<P STYLE="text-align: left; text-indent: 81pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">JPMORGAN
CHASE BANK, N.A., a national banking association organized under the laws of the United States of America, as depositary hereunder
(the "Depositary"), hereby certifies that <U>&#160;</U> is the registered owner (a "Holder") of <U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</U>&#160;American Depositary Shares ("ADSs"), each (subject to paragraph (13)) representing twenty five ordinary shares (including
the rights to receive Shares described in paragraph (1), "Shares" and, together with any other securities, cash or property from
time to time held by the Depositary in respect or in lieu of deposited Shares, the "Deposited Securities"), of Daqo New Energy
Corp., a corporation organized under the laws of the Cayman Islands (the "Company"), deposited under the Deposit Agreement dated
as of October 6, 2010 (as amended from time to time, the "Deposit Agreement") among the Company, the Depositary and all Holders
from time to time of American Depositary Receipts issued thereunder ("ADRs"), each of whom by accepting an ADR becomes a party
thereto.&#160;&#160;The Deposit Agreement and this ADR (which includes the provisions set forth on the reverse hereof) shall be
governed by and construed in accordance with the laws of the State of New York.</P>

<P STYLE="text-indent: 0pt"></P>

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<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(1)&#160;&#160;<U>Issuance
of ADRs; Pre-Release</U>.&#160;&#160;This ADR is one of the ADRs issued under the Deposit Agreement.&#160;&#160;Subject to paragraph
(4), the Depositary may so issue ADRs for delivery at the Transfer Office (defined in paragraph (3)) only against deposit of:&#160;&#160;(a)
Shares in form satisfactory to the Custodian; (b) rights to receive Shares from the Company or any registrar, transfer agent,
clearing agent or other entity recording Share ownership or transactions; or, (c) in accordance with the next paragraph of this
paragraph (1).</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">In its
capacity as Depositary, the Depositary shall not lend Shares or ADSs; provided, however, that the Depositary may issue ADSs prior
to the receipt of Shares (each such transaction a "Pre-Release"). The Depositary may receive ADSs in lieu of Shares to close out
a Pre-Release (which ADSs will promptly be canceled by the Depositary upon receipt by the Depositary). Each such Pre-Release will
be subject to a written agreement whereby the person or entity (the "Applicant") to whom ADSs are to be delivered (a) represents
that at the time of the Pre-Release the Applicant or its customer owns the Shares that are to be delivered by the Applicant under
such Pre-Release, (b) agrees to indicate the Depositary as owner of such Shares in its records and to hold such Shares in trust
for the Depositary until such Shares are delivered to the Depositary or the Custodian, (c) unconditionally guarantees to deliver
to the Depositary or the Custodian, as applicable, such Shares, and (d) agrees to any additional restrictions or requirements that
the Depositary deems appropriate. Each such Pre-Release will be at all times fully collateralized with cash, U.S. government securities
or such other collateral as the Depositary deems appropriate, terminable by the Depositary on not more than five (5) business days'
notice and subject to such further indemnities and credit regulations as the Depositary deems appropriate. The Depositary will
normally limit the number of ADSs involved in such Pre-Release at any one time to thirty percent (30%) of the ADSs outstanding
(without giving effect to Pre-Released ADSs outstanding), provided, however, that the Depositary reserves the right to change or
disregard such limit from time to time as it deems appropriate. The Depositary may also set limits with respect to the number of
ADSs involved in Pre-Release with any one person on a case-by-case basis as it deems appropriate. The Depositary may retain for
its own account any compensation received by it in conjunction with the foregoing. Collateral provided as described above, but
not the earnings thereon, shall be held for the benefit of the Holders (other than the Applicant).</P>

<P STYLE="text-indent: 0pt">&#160;</P>

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<P>&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Every
person depositing Shares under the Deposit Agreement represents and warrants that such Shares are validly issued and outstanding,
fully paid, nonassessable and free of pre-emptive rights, that the person making such deposit is duly authorized so to do and
that such Shares (A) are not "restricted securities" as such term is defined in Rule 144 under the Securities Act of 1933 ("Restricted
Securities") unless at the time of deposit the requirements of paragraphs (c), (e), (f) and (h) of Rule 144 shall not apply and
such Shares may be freely transferred and may otherwise be offered and sold freely in the United States or (B) have been registered
under the Securities Act of 1933. To the extent the person depositing Shares is an "affiliate" of the Company as such term is
defined in Rule 144, the person also represents and warrants that upon the sale of the ADSs, all of the provisions of Rule 144
which enable the Shares to be freely sold (in the form of ADSs) will be fully complied with and, as a result thereof, all of the
ADSs issued in respect of such Shares will not be on the sale thereof, Restricted Securities.&#160;&#160;Such representations
and warranties shall survive the deposit of Shares and issuance of ADRs.&#160;&#160;The Depositary will not knowingly accept for
deposit under the Deposit Agreement any Shares required to be registered under the Securities Act of 1933 and not so registered;
the Depositary may refuse to accept for such deposit any Shares identified by the Company in order to facilitate the Company's
compliance with such Act.</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(2)&#160;&#160;<U>Withdrawal
of Deposited Securities</U>.&#160;&#160;Subject to paragraphs (4) and (5), upon surrender of (i) a certificated ADR in form satisfactory
to the Depositary at the Transfer Office or (ii) proper instructions and documentation in the case of a Direct Registration ADR,
the Holder hereof is entitled to delivery at, or to the extent in dematerialized form from, the Custodian's office of the Deposited
Securities at the time represented by the ADSs evidenced by this ADR.&#160;&#160;At the request, risk and expense of the Holder
hereof, the Depositary may deliver such Deposited Securities at such other place as may have been requested by the Holder.&#160;&#160;Notwithstanding
any other provision of the Deposit Agreement or this ADR, the withdrawal of Deposited Securities may be restricted only for the
reasons set forth in General Instruction I.A.(1) of Form F-6 (as such instructions may be amended from time to time) under the
Securities Act of 1933.</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(3)&#160;&#160;<U>Transfers
of ADRs</U>.&#160;&#160;The Depositary or its agent will keep, at a designated transfer office (the "Transfer Office"), (a) a register
(the "ADR Register") for the registration, registration of transfer, combination and split-up of ADRs, and, in the case of Direct
Registration ADRs, shall include the Direct Registration System, which at all reasonable times will be open for inspection by Holders
and the Company for the purpose of communicating with Holders in the interest of the business of the Company or a matter relating
to the Deposit Agreement and (b) facilities for the delivery and receipt of ADRs. The term ADR Register includes the Direct Registration
System.&#160;&#160;&#160;Title to this ADR (and to the Deposited Securities represented by the ADSs evidenced hereby), when properly
endorsed (in the case of ADRs in certificated form) or upon&#160;&#160;delivery to the Depositary of proper instruments of transfer,
is transferable by delivery with the same effect as in the case of negotiable instruments under the laws of the State of New York;
<U>provided</U> that the Depositary, notwithstanding any notice to the contrary, may treat the person in whose name this ADR is
registered on the ADR Register as the absolute owner hereof for all purposes and neither the Depositary nor the Company will have
any obligation or be subject to any liability under the Deposit Agreement to any holder of an ADR, unless such holder is the Holder
thereof.&#160;&#160;Subject to paragraphs (4) and (5), this ADR is transferable on the ADR Register and may be split into other
ADRs or combined with other ADRs into one ADR, evidencing the aggregate number of ADSs surrendered for split-up or combination,
by the Holder hereof or by duly authorized attorney upon surrender of this ADR at the Transfer Office properly endorsed (in the
case of ADRs in certificated form) or upon&#160;&#160;delivery to the Depositary of proper instruments of transfer and duly stamped
as may be required by applicable law; <U>provided</U> that the Depositary may close the ADR Register at any time or from time to
time when deemed expedient by it or <U>when reasonably </U>requested by the Company<U> in order to comply with applicable law</U>.&#160;&#160;At
the request of a Holder, the Depositary shall, for the purpose of substituting a certificated ADR with a Direct Registration ADR,
or vice versa, execute and deliver a certificated ADR or a Direct Registration ADR, as the case may be, for any authorized number
of ADSs requested, evidencing the same aggregate number of ADSs as those evidenced by the certificated ADR or Direct Registration
ADR, as the case may be, substituted.</P>

<P STYLE="text-indent: 0pt"></P>

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<P>&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(4)&#160;&#160;<U>Certain
Limitations</U>.&#160;&#160;Prior to the issue, registration, registration of transfer, split-up or combination of any ADR, the
delivery of any distribution in respect thereof, or, subject to the last sentence of paragraph (2), the withdrawal of any Deposited
Securities, and from time to time in the case of clause (b)(ii) of this paragraph (4), the Company, the Depositary or the Custodian
may require:&#160;&#160;(a) payment with respect thereto of (i) any stock transfer or other tax or other governmental charge, (ii)
any stock transfer or registration fees in effect for the registration of transfers of Shares or other Deposited Securities upon
any applicable register and (iii) any applicable charges as provided in paragraph (7) of this ADR; (b) the production of proof
satisfactory to it of (i) the identity of any signatory and genuineness of any signature and (ii) such other information, including
without limitation, information as to citizenship, residence, exchange control approval, beneficial ownership of any securities,
compliance with applicable law, regulations, provisions of or governing Deposited Securities and terms of the Deposit Agreement
and this ADR, as it may deem necessary or proper; and (c) compliance with such regulations as the Depositary may establish consistent
with the Deposit Agreement.&#160;&#160;The issuance of ADRs, the acceptance of deposits of Shares, the registration, registration
of transfer, split-up or combination of ADRs or, subject to the last sentence of paragraph (2), the withdrawal of Deposited Securities
may be suspended, generally or in particular instances, when the ADR Register or any register for Deposited Securities is closed
or when any such action is deemed advisable by the Depositary or when reasonably requested by the Company in order to comply with
applicable law.</P>

<P STYLE="text-indent: 0pt"></P>

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<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(5)&#160;&#160;<U>Taxes</U>.
If any tax or other governmental charges (including any penalties and/or interest) shall become payable by or on behalf of the
Custodian or the Depositary with respect to this ADR, any Deposited Securities represented by the ADSs evidenced hereby or any
distribution thereon, including, without limitation, any Chinese Enterprise Income Tax owing if the Circular Guoshuifa [2009] No.
82 issued by the Chinese State Administration of Taxation (SAT) or any other circular, edict, order or ruling, as issued and as
from time to time amended, is applied or otherwise, such tax or other governmental charge shall be paid by the Holder hereof to
the Depositary and by holding or having held an ADR the Holder and all prior Holders hereof, jointly and severally, agree to indemnify,
defend and save harmless each of the Depositary and its agents in respect thereof.&#160;&#160;&#160;The Depositary may refuse to
effect any registration, registration of transfer, split-up or combination hereof or, subject to the last sentence of paragraph
(2), any withdrawal of such Deposited Securities until such payment is made.&#160;&#160;The Depositary may also deduct from any
distributions on or in respect of Deposited Securities, or may sell by public or private sale for the account of the Holder hereof
any part or all of such Deposited Securities (after attempting by reasonable means to notify the Holder hereof prior to such sale),
and may apply such deduction or the proceeds of any such sale in payment of such tax or other governmental charge, the Holder hereof
remaining liable for any deficiency, and shall reduce the number of ADSs evidenced hereby to reflect any such sales of Shares.
In connection with any distribution to Holders, the Company will remit to the appropriate governmental authority or agency all
amounts (if any) required to be withheld and owing to such authority or agency by the Company; and the Depositary and the Custodian
will remit to the appropriate governmental authority or agency all amounts (if any) required to be withheld and owing to such authority
or agency by the Depositary or the Custodian. The Depositary will forward to the Company such information from its records as the
Company may reasonably request to enable the Company to file any necessary reports with governmental authorities or agencies.&#160;&#160;If
the Depositary determines that any distribution in property other than cash (including Shares or rights) on Deposited Securities
is subject to any tax that the Depositary or the Custodian is obligated to withhold, the Depositary may dispose of all or a portion
of such property in such amounts and in such manner as the Depositary deems necessary and practicable to pay such taxes, by public
or private sale, and the Depositary shall distribute the net proceeds of any such sale or the balance of any such property after
deduction of such taxes to the Holders entitled thereto. Each Holder of an ADR or an interest therein agrees to indemnify the Depositary,
the Company, the Custodian and any of their respective directors, employees, agents and affiliates against, and hold each of them
harmless from, any claims by any governmental authority with respect to taxes, additions to tax, penalties or interest arising
out of any refund of taxes, reduced rate of withholding at source or other tax benefit obtained.</P>

<P STYLE="text-indent: 0pt">&#160;</P>

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<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(6) <U>Disclosure
of Interests</U>.&#160;&#160;To the extent that the provisions of or governing any Deposited Securities may require disclosure
of or impose limits on beneficial or other ownership of Deposited Securities, other Shares and other securities and may provide
for blocking transfer, voting or other rights to enforce such disclosure or limits, Holders and all persons holding ADRs agree
to comply with all such disclosure requirements and ownership limitations and to comply with any reasonable Company instructions
in respect thereof. The Depositary agrees to forward, upon the request and at the expenses of the Company, any written request
for beneficial ownership information from the Company to the Holders, and at the Company's expense, to promptly forward to the
Company any responses received by the Depositary.&#160;&#160;The Company reserves the right to instruct Holders to deliver their
ADSs for cancellation and withdrawal of the Deposited Securities so as to permit the Company to deal directly with the Holder thereof
as a holder of Shares and Holders agree to comply with such instructions.&#160;&#160;&#160;The Depositary agrees to cooperate with
the Company in its efforts to inform Holders of the Company's exercise of its rights under this paragraph and agrees to consult
with, and provide reasonable assistance without risk, liability or expense on the part of the Depositary, to the Company on the
manner or manners in which it may enforce such rights with respect to any Holder.</P>

<P STYLE="text-indent: 0pt"></P>

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<P>&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(7)&#160;&#160;<U>Charges
of Depositary</U>.&#160;&#160;(7)&#160;&#160;Charges of Depositary.&#160;&#160;The Depositary may charge, and collect from, (i)
each person to whom ADSs are issued, including, without limitation, issuances against deposits of Shares, issuances in respect
of Share Distributions, Rights and Other Distributions (as such terms are defined in paragraph (10)), issuances pursuant to a stock
dividend or stock split declared by the Company, or issuances pursuant to a merger, exchange of securities or any other transaction
or event affecting the ADSs or the Deposited Securities, and (ii) each person surrendering ADSs for withdrawal of Deposited Securities
or whose ADSs are cancelled or reduced for any other reason, U.S.$5.00 for each 100 ADSs (or portion thereof) issued, delivered,
reduced, cancelled or surrendered (as the case may be). The Depositary may sell (by public or private sale) sufficient securities
and property received in respect of Share Distributions, Rights and Other Distributions prior to such deposit to pay such charge.
The following additional charges shall be incurred by the Holders, by any party depositing or withdrawing Shares or by any party
surrendering ADSs, to whom ADSs are issued (including, without limitation, issuance pursuant to a stock dividend or stock split
declared by the Company or an exchange of stock regarding the ADSs or the Deposited Securities or a distribution of ADSs pursuant
to paragraph (10)), whichever is applicable (i) a fee of up to U.S.$0.05 per ADS for any Cash distribution made pursuant to the
Deposit Agreement, (ii) a fee of U.S.$1.50 per ADR or ADRs for transfers made pursuant to paragraph (3) hereof, (iii) a fee for
the distribution or sale of securities pursuant to paragraph (10) hereof, such fee being in an amount equal to the fee for the
execution and delivery of ADSs referred to above which would have been charged as a result of the deposit of such securities (for
purposes of this paragraph (7) treating all such securities as if they were Shares) but which securities or the net cash proceeds
from the sale thereof are instead distributed by the Depositary to Holders entitled thereto, (iv) an aggregate fee of up to U.S.$0.05
per ADS per calendar year (or portion thereof) for services performed by the Depositary in administering the ADRs (which fee may
be charged on a periodic basis during each calendar year and shall be assessed against Holders as of the record date or record
dates set by the Depositary during each calendar year and shall be payable at the sole discretion of the Depositary by billing
such Holders or by deducting such charge from one or more cash dividends or other cash distributions), and (v) a fee for the reimbursement
of such fees, charges and expenses as are incurred by the Depositary and/or any of its agents (including, without limitation, the
Custodian and expenses incurred on behalf of Holders in connection with compliance with foreign exchange control regulations or
any law or regulation relating to foreign investment) in connection with the servicing of the Shares or other Deposited Securities,
the sale of securities (including, without limitation, Deposited Securities), the delivery of Deposited Securities or otherwise
in connection with the Depositary's or its Custodian's compliance with applicable law, rule or regulation (which fees and charges
shall be assessed on a proportionate basis against Holders as of the record date or dates set by the Depositary and shall be payable
at the sole discretion of the Depositary by billing such Holders or by deducting such charge from one or more cash dividends or
other cash distributions). The Company will pay all other charges and expenses of the Depositary and any agent of the Depositary
(except the Custodian) pursuant to agreements from time to time between the Company and the Depositary, except (i) stock transfer
or other taxes and other governmental charges (which are payable by Holders or persons depositing Shares), (ii) cable, telex and
facsimile transmission and delivery charges incurred at the request of persons depositing, or Holders delivering Shares, ADRs or
Deposited Securities (which are payable by such persons or Holders), (iii) transfer or registration fees for the registration or
transfer of Deposited Securities on any applicable register in connection with the deposit or withdrawal of Deposited Securities
(which are payable by persons depositing Shares or Holders withdrawing Deposited Securities; there are no such fees in respect
of the Shares as of the date of the Deposit Agreement), and (iv) in connection with the conversion of foreign currency into U.S.
dollars, JPMorgan Chase Bank, N.A. shall deduct out of such foreign currency the fees and expenses charged by it and/or its agent
(which may be a division, branch or affiliate) so appointed&#160;&#160;in connection with such conversion. Such charges may at
any time and from time to time be changed by agreement between the Company and the Depositary.</P>

<P STYLE="text-indent: 0pt"></P>

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<P>&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The
Depositary anticipates reimbursing the Company for certain expenses incurred by the Company that are related to the establishment
and maintenance of the ADR program upon such terms and conditions as the Company and the Depositary may agree from time to time.&#160;&#160;The
Depositary may make available to the Company a set amount or a portion of the Depositary fees charged in respect of the ADR program
or otherwise&#160;upon such terms and conditions as the Company and the Depositary may agree from time to time.</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</FONT><BR></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The right
of the Depositary to receive payment of fees, charges and expenses as provided above shall survive the termination of the Deposit
Agreement. As to any Depositary, upon the resignation or removal of such Depositary, such right shall extend for those fees, charges
and expenses incurred prior to the effectiveness of such resignation or removal.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(8)&#160;&#160;<U>Available
Information</U>.&#160;&#160;The Deposit Agreement, the provisions of or governing Deposited Securities and any written communications
from the Company, which are both received by the Custodian or its nominee as a holder of Deposited Securities and made generally
available to the holders of Deposited Securities, are available for inspection by Holders at the offices of the Depositary and
the Custodian and at the Transfer Office.&#160;&#160;The Depositary will distribute copies of such communications (or English translations
or summaries thereof) to Holders when furnished by the Company. The Company is subject to the periodic reporting requirements of
the Securities Exchange Act of 1934 and accordingly files certain reports with the United States Securities and Exchange Commission
(the "Commission").&#160;&#160;Such reports and other information may be inspected and copied at public reference facilities maintained
by the Commission located at the date hereof at 100 F Street, NE, Washington, DC 20549.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(9)&#160;&#160;<U>Execution</U>.&#160;&#160;This
ADR shall not be valid for any purpose unless executed by the Depositary by the manual or facsimile signature of a duly authorized
officer of the Depositary.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Dated:</P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 216pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">JPMORGAN
CHASE BANK, N.A., as Depositary</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 216pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">By _______________________________</P>

<P STYLE="text-align: left; text-indent: 216pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Authorized
Officer</P>

<P STYLE="text-indent: 0pt">&nbsp;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The Depositary's
office is located at1 Chase Manhattan Plaza, Floor 58, New York, NY, 10005-1401.</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0"></P>

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<P>&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0">&#160;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">[FORM
OF REVERSE OF ADR]</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(10)&#160;&#160;<U>Distributions
on Deposited Securities</U>.&#160;&#160;Subject to paragraphs (4) and (5), to the extent practicable, the Depositary will distribute
to each Holder entitled thereto on the record date set by the Depositary therefor at such Holder's address shown on the ADR Register,
in proportion to the number of Deposited Securities (on which the following distributions on Deposited Securities are received
by the Custodian) represented by ADSs evidenced by such Holder's ADRs:&#160;&#160;(a) Cash.&#160;&#160;Any U.S. dollars available
to the Depositary resulting from a cash dividend or other cash distribution or the net proceeds of sales of any other distribution
or portion thereof authorized in this paragraph (10) ("Cash"), on an averaged or other practicable basis, subject to (i) appropriate
adjustments for taxes withheld, (ii) such distribution being impermissible or impracticable with respect to certain Holders, and
(iii) deduction of the Depositary's or its agents' fees and expenses in (1) converting any foreign currency to U.S. dollars by
sale or in such other manner as the Depositary may determine to the extent that it determines that such conversion may be made
on a reasonable basis, (2) transferring foreign currency or U.S. dollars to the United States by such means as the Depositary may
determine to the extent that it determines that such transfer may be made on a reasonable basis, (3) obtaining any approval or
license of any governmental authority required for such conversion or transfer, which is obtainable at a reasonable cost and within
a reasonable time and (4) making any sale by public or private means in any commercially reasonable manner.&#160;&#160;(b) Shares.&#160;&#160;(i)
Additional ADRs evidencing whole ADSs representing any Shares available to the Depositary resulting from a dividend or free distribution
on Deposited Securities consisting of Shares (a "Share Distribution") and (ii) U.S. dollars available to it resulting from the
net proceeds of sales of Shares received in a Share Distribution, which Shares would give rise to fractional ADSs if additional
ADRs were issued therefor, as in the case of Cash. (c) Rights.&#160;&#160;(i) Warrants or other instruments in the discretion of
the Depositary representing rights to acquire additional ADRs in respect of any rights to subscribe for additional Shares or rights
of any nature available to the Depositary as a result of a distribution on Deposited Securities ("Rights"), to the extent that
the Company timely furnishes to the Depositary evidence satisfactory to the Depositary that the Depositary may lawfully distribute
the same (the Company has no obligation to so furnish such evidence), or (ii) to the extent the Company does not so furnish such
evidence and sales of Rights are practicable, any U.S. dollars available to the Depositary from the net proceeds of sales of Rights
as in the case of Cash, or (iii) to the extent the Company does not so furnish such evidence and such sales cannot practicably
be accomplished by reason of the nontransferability of the Rights, limited markets therefor, their short duration or otherwise,
nothing (and any Rights may lapse).&#160;&#160;(d) Other Distributions.&#160;&#160;(i) Securities or property available to the
Depositary resulting from any distribution on Deposited Securities other than Cash, Share Distributions and Rights&#160;&#160;("Other
Distributions"), by any means that the Depositary may deem equitable and practicable, or (ii) to the extent the Depositary deems
distribution of such securities or property not to be equitable and practicable, any U.S. dollars available to the Depositary from
the net proceeds of sales of Other Distributions as in the case of Cash. The Depositary reserves the right to utilize a division,
branch or affiliate of JPMorgan Chase Bank, N.A. to direct, manage and/or execute any public and/or private sale of securities
and/or conversion of foreign currency hereunder.&#160;&#160;&#160;&#160;Any U.S. dollars available will be distributed by checks
drawn on a bank in the United States for whole dollars and cents. Fractional cents will be withheld without liability and dealt
with by the Depositary in accordance with its then current practices.</P>

<P STYLE="text-indent: 0pt"></P>

<P></P>

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<P>&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-indent: 0pt"><BR>
</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(11)&#160;&#160;<U>Record
Dates</U>.&#160;&#160;The Depositary may, after consultation with the Company if practicable, fix a record date (which, to the
extent applicable, shall be as near as practicable to any corresponding record date set by the Company) for the determination of
the Holders who shall be responsible for the fee assessed by the Depositary for administration of the ADR program and for any expenses
provided for in paragraph (7) hereof as well as for the determination of the Holders who shall be entitled to receive any distribution
on or in respect of Deposited Securities, to give instructions for the exercise of any voting rights, to receive any notice or
to act in respect of other matters and only such Holders shall be so entitled or obligated.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(12)&#160;&#160;<U>Voting
of Deposited Securities</U>.&#160;&#160;As soon as practicable after receipt from the Company of notice of any meeting or solicitation
of consents or proxies of holders of Shares or other Deposited Securities, the Depositary shall distribute to Holders a notice
stating (a) such information as is contained in such notice and any solicitation materials, (b) that each Holder on the record
date set by the Depositary therefor will, subject to any applicable provisions of Cayman Island law, be entitled to instruct the
Depositary as to the exercise of the voting rights, if any, pertaining to the Deposited Securities represented by the ADSs evidenced
by such Holder's ADRs and (c) the manner in which such instructions may be given, including instructions to give a discretionary
proxy to a person designated by the Company.&#160;&#160;Upon receipt of instructions of a Holder on such record date in the manner
and on or before the date established by the Depositary for such purpose, the Depositary shall endeavor insofar as practicable
and permitted under the provisions of or governing Deposited Securities to vote or cause to be voted the Deposited Securities represented
by the ADSs evidenced by such Holder's ADRs in accordance with such instructions.&#160;&#160;The Depositary will not itself exercise
any voting discretion in respect of any Deposited Securities.&#160;&#160;To the extent voting instruction cards are not so received
by the Depositary from any Holder, the Depositary shall deem such Holder to have so instructed the Depositary to give a discretionary
proxy to a person designated by the Company and the Depositary shall endeavor insofar as practicable and permitted under the provisions
of or governing Deposited Securities to give a discretionary proxy to a person designated by the Company to vote the Deposited
Securities represented by the ADSs evidenced by such Holder's ADRs as to which such deemed instructions are so given, provided
that no such instruction shall be deemed given and no discretionary proxy shall be given (i) with respect to any matter as to which
the Company informs the Depositary (and the Company agrees to provide such information promptly in writing when and if applicable)
that (x) the Company does not wish such proxy to be given, (y) substantial opposition exists with respect to any agenda item for
which the proxy would be given or (z) materially affects the rights of holders of Shares and (ii) unless, with respect to such
meeting, the Depositary has been provided with an opinion of counsel to the Company, in form and substance satisfactory to the
Depositary, to the effect that (a) the granting of such discretionary proxy does not subject the Depositary to any reporting obligations
in the Cayman Islands, (b) the granting of such proxy will not result in a violation of Cayman Island law, rule, regulation or
permit, (c) the voting arrangement and deemed instruction as contemplated herein will be given effect under Cayman Island law upon
a discretionary proxy being granted in the manner as aforesaid, and (d)&#160;the granting of such discretionary proxy alone will
not result in the Shares represented by the ADSs being considered subject to attachment or appropriation by creditors of the Custodian
or the Depositary under Cayman Island law, to the extent Cayman Island law is relevant.</P>

<P STYLE="text-indent: 0pt"></P>

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<P>&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">There
is no guarantee that Holders generally or any Holder in particular will receive the notice described above with sufficient time
to enable such Holder to return any voting instructions to the Depositary in a timely manner.</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Notwithstanding
anything contained in the Deposit Agreement or any ADR, the Depositary may, to the extent not prohibited by law or regulations,
or by the requirements of the stock exchange on which the ADSs are listed, in lieu of distribution of the materials provided to
the Depositary in connection with any meeting of, or solicitation of consents or proxies from, holders of Deposited Securities,
distribute to the Holders a notice that provides Holders with, or otherwise publicizes to Holders, instructions on how to retrieve
such materials or receive such materials upon request (i.e., by reference to a website containing the materials for retrieval
or a contact for requesting copies of the materials).</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The Depositary
has been advised by the Company that under the Cayman Islands law and the Memorandum and Articles of Association of the Company,
each as in effect as of the date of the Deposit Agreement, voting at any meeting of shareholders of the Company is by show of hands
unless a poll is (before or on the declaration of the results of the show of hands) demanded.&#160;&#160;&#160;In the event that
voting on any resolution or matter is conducted on a show of hands basis in accordance with the Memorandum and Articles of Association,
the Depositary will refrain from voting and the voting instructions (or the deemed voting instructions, as set out above) received
by the Depositary from Holders shall lapse. The Depositary will not demand a poll or join in demanding a poll, whether or not requested
to do so by Holders of ADSs.</P>

<P STYLE="text-indent: 0pt"></P>

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<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan&#160;</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(13)&#160;&#160;<U>Changes
Affecting Deposited Securities</U>.&#160;&#160;Subject to paragraphs (4) and (5), the Depositary may, in its discretion, amend
this ADR or distribute additional or amended ADRs (with or without calling this ADR for exchange) or cash, securities or property
on the record date set by the Depositary therefor to reflect any change in par value, split-up, consolidation, cancellation or
other reclassification of Deposited Securities, any Share Distribution or Other Distribution not distributed to Holders or any
cash, securities or property available to the Depositary in respect of Deposited Securities from (and the Depositary is hereby
authorized to surrender any Deposited Securities to any person and, irrespective of whether such Deposited Securities are surrendered
or otherwise cancelled by operation of law, rule, regulation or otherwise, to sell by public or private sale any property received
in connection with) any recapitalization, reorganization, merger, consolidation, liquidation, receivership, bankruptcy or sale
of all or substantially all the assets of the Company, and to the extent the Depositary does not so amend this ADR or make a distribution
to Holders to reflect any of the foregoing, or the net proceeds thereof, whatever cash, securities or property results from any
of the foregoing shall constitute Deposited Securities and each ADS evidenced by this ADR shall automatically represent its pro
rata interest in the Deposited Securities as then constituted.</P>

<P STYLE="text-indent: 0pt">&#160;</P>

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<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(14)&#160;&#160;<U>Exoneration</U>.&#160;&#160;The
Depositary, the Company, their agents and each of them shall: (a) incur no liability (i) if any present or future law, rule, regulation
, fiat, order or decree of the United&#160;&#160;States, the Cayman Islands, The People's Republic of China (including the Hong
Kong Special Administrative Region, the People's Republic of China) or any other country, or of any governmental or regulatory
authority or any securities exchange or market or automated quotation system, the provisions of or governing any Deposited Securities,
any present or future provision of the Company's charter, any act of God, war, terrorism or other circumstance beyond its control
shall prevent or delay, or shall cause any of them to be subject to any civil or criminal penalty in connection with, any act which
the Deposit Agreement or this ADR provides shall be done or performed by it or them (including, without limitation, voting pursuant
to paragraph (12) hereof), or (ii) by reason of any exercise or failure to exercise any discretion given it in the Deposit Agreement
or this ADR (including, without limitation, any failure to determine that any distribution or action may be lawful or reasonably
practicable); (b) assume no liability except to perform its obligations to the extent they are specifically set forth in this ADR
and the Deposit Agreement without gross negligence or willful misconduct; (c) in the case of the Depositary and its agents, be
under no obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of any Deposited Securities
or this ADR; (d) in the case of the Company and its agents hereunder be under no obligation to appear in, prosecute or defend any
action, suit or other proceeding in respect of any Deposited Securities or this ADR, which in its opinion may involve it in expense
or liability, unless indemnity satisfactory to it against all expense (including fees and disbursements of counsel) and liability
be furnished as often as may be required; or (e) not be liable for any action or inaction by it in reliance upon the advice of
or information from legal counsel, accountants, any person presenting Shares for deposit, any Holder, or any other person believed
by it to be competent to give such advice or information. The Depositary shall not be liable for the acts or omissions made by,
or the insolvency of, any securities depository, clearing agency or settlement system. The Depositary shall not be responsible
for, and shall incur no liability in connection with or arising from, the insolvency of any Custodian that is not a branch or affiliate
of JPMorgan Chase Bank, N.A. The Depositary shall have not any liability for the price received in connection with any sale of
securities, the timing thereof or any delay in action or omission to act nor shall it be responsible for any error or delay in
action, omission to act, default or negligence on the part of the party so retained in connection with any such sale or proposed
sale.&#160;&#160;Further, the Depositary and its agents disclaim to the maximum extent permitted by law any and all liability for
the price received in connection with any sale of securities or the timing thereof.&#160;&#160;Notwithstanding anything to the
contrary contained in the Deposit Agreement or this ADR, the Depositary shall not be responsible for, and shall incur no liability
in connection with or arising from, any act or omission to act on the part of the Custodian except to the extent that the Custodian
has been determined by a final non-appealable judgment of a court of competent jurisdiction to have committed fraud or willful
misconduct in the provision of custodial services to the Depositary or (ii) failed to use reasonable care in the provision of custodial
services to the Depositary&#160;&#160;as determined in accordance with the standards prevailing in the jurisdiction in which the
Custodian is located. The Depositary, its agents and the Company may rely and shall be protected in acting upon any written notice,
request, direction, instruction or document believed by them to be genuine and to have been signed, presented or given by the proper
party or parties.&#160;&#160;&#160;The Depositary shall be under no obligation to inform Holders or any other holders of an interest
in an ADS about the requirements of Cayman Island or People's Republic of China (including the Hong Kong Special Administrative
Region, the People's Republic of China) law, rules or regulations or any changes therein or thereto. The Depositary and its agents
will not be responsible for any failure to carry out any instructions to vote any of the Deposited Securities, for the manner in
which any such vote is cast or for the effect of any such vote. The Depositary may rely upon instructions from the Company or its
counsel in respect of any governmental or agency approval or license required for any currency conversion, transfer or distribution.&#160;&#160;The
Depositary and its agents may own and deal in any class of securities of the Company and its affiliates and in ADRs. Notwithstanding
anything to the contrary set forth in the Deposit Agreement or an ADR, the Depositary and its agents may fully respond to any and
all demands or requests for information maintained by or on its behalf in connection with the Deposit Agreement, any Holder or
Holders, any ADR or ADRs or otherwise related hereto or thereto to the extent such information is requested or required by or pursuant
to any lawful authority, including without limitation laws, rules, regulations, administrative or judicial process, banking, securities
or other regulators.&#160;&#160;&#160;None of the Depositary, the Custodian or the Company shall be liable for the failure by any
Holder or beneficial owner to obtain the benefits of credits on the basis of non-U.S. tax paid against such Holder's or beneficial
owner's income tax liability. The Depositary and the Company shall not incur any liability for any tax consequences that may be
incurred by Holders and beneficial owners on account of their ownership of the ADRs or ADSs. The Depositary shall not incur any
liability for the content of any information submitted to it by or on behalf of the Company for distribution to the Holders or
for any inaccuracy of any translation thereof, for any investment risk associated with acquiring an interest in the Deposited Securities,
for the validity or worth of the Deposited Securities, for the credit-worthiness of any third party, for allowing any rights to
lapse upon the terms of this Deposit Agreement or for the failure or timeliness of any notice from the Company.&#160;&#160;Notwithstanding
anything herein or in the Deposit Agreement to the contrary, the Depositary and the Custodian(s) may use third party delivery services
and providers of information regarding matters such as pricing, proxy voting, corporate actions, class action litigation and other
services in connection herewith and the Deposit Agreement, and use local agents to provide extraordinary services such as attendance
at annual meetings of issuers of securities. Although the Depositary and the Custodian will use reasonable care (and cause their
agents to use reasonable care) in the selection and retention of such third party providers and local agents, they will not be
responsible for any errors or omissions made by them in providing the relevant information or services.&#160;&#160;The Depositary
shall not be liable for any acts or omissions made by a successor depositary whether in connection with a previous act or omission
of the Depositary or in connection with any matter arising wholly after the removal or resignation of the Depositary, provided
that in connection with the issue out of which such potential liability arises the Depositary performed its obligations without
negligence or willful misconduct while it acted as Depositary.&#160;&#160;By holding an ADS or an interest therein, Holders and
owners of ADSs each irrevocably agree that any legal suit, action or proceeding against or involving the Company or the Depositary,
arising out of or based upon this Deposit Agreement or the transactions contemplated hereby, may only be instituted in a state
or federal court in New York, New York, and by holding an ADS or an interest therein each irrevocably waives any objection which
it may now or hereafter have to the laying of venue of any such proceeding, and irrevocably submits to the exclusive jurisdiction
of such courts in any such suit, action or proceeding. The Company has agreed to indemnify the Depositary and its agents under
certain circumstances and the Depositary has agreed to indemnify the Company under certain circumstances. Neither the Company nor
the Depositary nor any of their agents shall be liable to Holders or beneficial owners of interests in ADSs for any indirect, special,
punitive or consequential damages (including, without limitation, lost profits) of any form incurred by any person or entity, whether
or not foreseeable and regardless of the type of action in which such a claim may be brought. No disclaimer of liability under
the Securities Act of 1933 is intended by any provision hereof.</P>

<P STYLE="text-indent: 0pt"></P>

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<P></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(15)&#160;&#160;<U>Resignation
and Removal of Depositary; the Custodian</U>. The Depositary may resign as Depositary by written notice of its election so to do
delivered to the Company, such resignation to take effect&#160;upon the appointment of a successor depositary and its acceptance
of such appointment as provided in the Deposit Agreement. &#160;The Depositary may at any time be removed by the Company by no
less than 90 days prior written notice of such removal, to become effective upon the later of (i) the 90th day after delivery of
the notice to the Depositary and (ii) the appointment of a successor depositary and its acceptance of such appointment as provided
in the Deposit Agreement. The Depositary may appoint substitute or additional Custodians and the term "<U>Custodian</U>" refers
to each Custodian or all Custodians as the context requires.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(16)&#160;&#160;<U>Amendment</U>.&#160;&#160;Subject
to the last sentence of paragraph (2), the ADRs and the Deposit Agreement may be amended by the Company and the Depositary, <U>provided</U>
that any amendment that imposes or increases any fees or charges (other than stock transfer or other taxes and other governmental
charges, transfer or registration fees, cable, telex or facsimile transmission costs, delivery costs or other such expenses), or
that shall otherwise prejudice any substantial existing right of Holders, shall become effective 30 days after notice of such amendment
shall have been given to the Holders.&#160;&#160;Every Holder of an ADR at the time any amendment to the Deposit Agreement so becomes
effective shall be deemed, by continuing to hold such ADR, to consent and agree to such amendment and to be bound by the Deposit
Agreement as amended thereby.&#160;&#160;In no event shall any amendment impair the right of the Holder of any ADR to surrender
such ADR and receive the Deposited Securities represented thereby, except in order to comply with mandatory provisions of applicable
law. Any amendments or supplements which (i) are reasonably necessary (as agreed by the Company and the Depositary) in order for
(a) the ADSs to be registered on Form F-6 under the Securities Act of 1933 or (b) the ADSs or Shares to be traded solely in electronic
book-entry form and (ii) do not in either such case impose or increase any fees or charges to be borne by Holders, shall be deemed
not to prejudice any substantial rights of Holders.&#160;&#160;&#160;Notwithstanding the foregoing, if any governmental body or
regulatory body should adopt new laws, rules or regulations which would require amendment or supplement of the Deposit Agreement
or the form of ADR to ensure compliance therewith, the Company and the Depositary may amend or supplement the Deposit Agreement
and the ADR at any time in accordance with such changed laws, rules or regulations.&#160;&#160;Such amendment or supplement to
the Deposit Agreement in such circumstances may become effective before a notice of such amendment or supplement is given to Holders
or within any other period of time as required for compliance.&#160;Notice of any amendment to the Deposit Agreement or form of
ADRs shall not need to describe in detail the specific amendments effectuated thereby, and failure to describe the specific amendments
in any such notice shall not render such notice invalid, provided, however, that, in each such case, the notice given to the Holders
identifies a means for Holders to retrieve or receive the text of such amendment (i.e., upon retrieval from the Commission's, the
Depositary's or the Company's website or upon request from the Depositary).</P>

<P STYLE="text-indent: 0pt"></P>

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<P STYLE="margin-right: 0; margin-left: 0">&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(17)&#160;&#160;<U>Termination</U>.&#160;&#160;The
Depositary may, and shall at the written direction of the Company, terminate the Deposit Agreement and this ADR by mailing notice
of such termination to the Holders at least 30 days prior to the date fixed in such notice for such termination; provided, however,
if the Depositary shall have (i) resigned as Depositary hereunder, notice of such termination by the Depositary shall not be provided
to Holders unless a successor depositary shall not be operating hereunder within 45 days of the date of such resignation, or (ii)
been removed as Depositary hereunder, notice of such termination by the Depositary shall not be provided to Holders unless a successor
depositary shall not be operating hereunder on the 90th day after the Company's notice of removal was first provided to the Depositary.&#160;&#160;&#160;After
the date so fixed for termination, (a) all Direct Registration ADRs shall cease to be eligible for the Direct Registration System
and shall be considered ADRs issued on the ADR Register and (b) the Depositary shall use its reasonable efforts to ensure that
the ADSs cease to be DTC eligible so that neither DTC nor any of its nominees shall thereafter be a Holder.&#160;&#160;At such
time as the ADSs cease to be DTC eligible and/or neither DTC nor any of its nominees is a Holder, the Depositary shall (a) instruct
its Custodian to deliver all Deposited Securities to the Company along with a general stock power that refers to the names set
forth on the ADR Register and (b) provide the Company with a copy of the ADR Register (which copy may be sent by email or by any
means permitted under the notice provisions of the Deposit Agreement). Upon receipt of such Deposited Securities and the ADR Register,
the Company shall use its best efforts to issue to each Holder a Share certificate representing the Shares represented by the
ADSs reflected on the ADR Register in such Holder's name and to deliver such Share certificate to the Holder at the address set
forth on the ADR Register.&#160;&#160;After providing such instruction to the Custodian and delivering a copy of the ADR Register
to the Company, the Depositary and its agents will perform no further acts under the Deposit Agreement and this ADR and shall
cease to have any obligations under the Deposit Agreement and/or the ADRs.&#160;&#160;After the Company receives the copy of the
ADR Register and the Deposited Securities, the Company shall be discharged from all obligations under the Deposit Agreement except
(i) to distribute the Shares to the Holders entitled thereto and (ii) for its obligations to the Depositary and its agents.</P>

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<P>&#160;</P>

<P STYLE="text-align: right; font: 18pt Times New Roman, Times, Serif">J.P.Morgan</P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(18)
<U>Appointment.</U>&#160;&#160;&#160;Each Holder and each person holding an interest in ADSs, upon acceptance of any ADSs (or any
interest therein) issued in accordance with the terms and conditions of the Deposit Agreement shall be deemed for all purposes
to (a) be a party to and bound by the terms of the Deposit Agreement and the applicable ADR(s), and (b) appoint the Depositary
its attorney-in-fact, with full power to delegate, to act on its behalf and to take any and all actions contemplated in the Deposit
Agreement and the applicable ADR(s), to adopt any and all procedures necessary to comply with applicable law and to take such action
as the Depositary in its sole discretion may deem necessary or appropriate to carry out the purposes of the Deposit Agreement and
the applicable ADR(s), the taking of such actions to be the conclusive determinant of the necessity and appropriateness thereof.</P>

<P STYLE="text-indent: 0pt"></P>

<P STYLE="text-align: left; text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">(19)
<U>Waiver</U>.&#160;&#160;EACH PARTY TO THE DEPOSIT AGREEMENT (INCLUDING, FOR AVOIDANCE OF DOUBT, EACH HOLDER AND BENEFICIAL OWNER
AND/OR HOLDER OF INTERESTS IN ADRS) HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING AGAINST THE DEPOSITARY AND/OR THE COMPANY DIRECTLY OR INDIRECTLY
ARISING OUT OF OR RELATING TO THE SHARES OR OTHER DEPOSITED SECURITIES, THE ADSs OR THE ADRs, THE DEPOSIT AGREEMENT OR ANY TRANSACTION
CONTEMPLATED HEREIN OR THEREIN, OR THE BREACH HEREOF OR THEREOF (WHETHER BASED ON CONTRACT, TORT, COMMON LAW OR ANY OTHER THEORY).</P>

<P STYLE="text-indent: 0pt"></P>

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<DOCUMENT>
<TYPE>EX-4.21
<SEQUENCE>4
<FILENAME>v371885_ex4-21.htm
<DESCRIPTION>EXHIBIT 4.21
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.21</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><B>(Summary Translation)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>Comprehensive credit agreement with Everbright Bank </B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; font-size: 10pt"><B>Date of the Agreement</B></TD>
    <TD STYLE="width: 70%; font-size: 10pt">March 20, 2013</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><B>Borrower (Party A)</B></TD>
    <TD STYLE="font-size: 10pt">Xinjiang Daqo New Energy Co., Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><B>Lender (Party B)</B></TD>
    <TD STYLE="font-size: 10pt">China Everbright Bank Chongqing Wanzhou Branch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><B>Maximum credit line and sublimits</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">RMB100 million consisting:-</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ordinary loan of RMB70 million; and</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">bank acceptance of RMB30 million.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><B>Term of maximum credit</B></TD>
    <TD STYLE="font-size: 10pt">From March 20, 2013 to March 20, 2014</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><B>Use of maximum and sublimits</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Party A may apply for usage of the credit line in one or multiple
        times;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">It is a revolving credit facility unless otherwise
        prohibited by Party B.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><B>Interest rate and fees</B></TD>
    <TD STYLE="font-size: 10pt">Will be provided in separate agreements entered into by Party A and Party B.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><B>Adjustment of maximum and specific credit lines</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Party B is entitled to adjust the maximum credit line,
        sublimits and         the         term of credit, and is entitled to cease to grant the comprehensive credit and unilaterally
        cease to grant the         unused           credit to Party A or withdraw part or all of the used credit and take other
        steps, if the following of Party         A occurs:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. Major change in the structure including material merger,
        acquisition, reorganization, dissolution which Party B deems may affect the repayment of loan;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. Change the application of loans without prior consent by
        Party B</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><B>Guarantee</B></TD>
    <TD STYLE="font-size: 10pt">Guarantee shall be provided by Daqo Group Co., Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><B>Party A's covenants</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Party A shall:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. Provide true and accurate financial reports, saving balance
        and other relevant operational materials to Party B;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. If Party A is a group client pursuant to the
        &ldquo;Commercial Bank Group Client Risk Management Guideline&rdquo;, provide         Party B         relevant         information         of
        any         connected         transactions         involving over 10% of its net assets;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. Notify Party B in advance for provision of guarantee to any
        third party, and such guarantee shall not affect its ability of timely repayment.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4. Notify Party B of any material change of its financial status
        or legal proceedings which may affect its ability of timely repayment.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5. Notify Party B of any asset reorganization or any
form of change in the ownership, or any dissolution, bankruptcy two months in advance and repay all the outstanding debts.</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-4.22
<SEQUENCE>5
<FILENAME>v371885_ex4-22.htm
<DESCRIPTION>EXHIBIT 4.22
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.22</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><B>(Summary Translation)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>Loan agreement with Everbright Bank </B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%"><B>Date of the Agreement</B></TD>
    <TD STYLE="width: 70%">March 20, 2013</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Borrower (Party A)</B></TD>
    <TD>Xinjiang Daqo New Energy Co., Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Lender (Party B)</B></TD>
    <TD>China Everbright Bank Chongqing Wanzhou Branch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Use of loan</B></TD>
    <TD>Working capital</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Principal</B></TD>
    <TD>RMB 70 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Term of loan</B></TD>
    <TD>From March 20, 2013 to March 20, 2014</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Grant of loan</B></TD>
    <TD>Loan shall be granted at any time when necessary</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Interest rate</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Fixed rate at 6.6% per year</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event of late repayment, a penalty interest rate
        of         the fixed rate provided hereof  plus 50% thereof will be imposed on the overdue loan until all principal and
        interest are               repaid.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event of applying loans other than the usage
        provided         hereof, a penalty interest of the fixed rate provided hereof plus 100% thereof will be imposed until
        all         principal         and         interest are repaid.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A compound interest will be imposed on any overdue interest.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Interest settlement day </B></TD>
    <TD>Interest shall be settled on the 20<SUP>th</SUP> day of each month.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Repayment</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Repayment of principal and interest shall be fully made
        on         March 20, 2014</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Party B is entitled to deduct funds from Party A's accounts
        opened at China Everbright Bank for the repayment of any overdue loan.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Guarantee</B></TD>
    <TD>Joint and several liability guarantee provided by Daqo Group Co., Ltd. and Guangfu Xu</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Party A's covenants</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Party A shall:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. Notify Party B in at least 30 days advance and obtain a written
        consent from Party B in respect of investment, substantially increase of debt financing, shareholding restructure, merger, joint
        venture, spin-off, asset transfer and other actions which will affect the interest of Party B, and shall fulfill its repayment
        obligations;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. Within the term of loan, without Party B's written
        consent, Party A shall not repay loans of any third party, provide any guarantee or set any mortgage or pledge over Party
        A's         asset or         interest which         would affect Party A's ability of repayment of the loan hereof;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. Other than specified above, notify Party B in written immediately
        in respect of any matter which may jeopardize Party A's normal operation or cause material adverse impact to its ability to its
        performance of this Agreement.</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-4.23
<SEQUENCE>6
<FILENAME>v371885_ex4-23.htm
<DESCRIPTION>EXHIBIT 4.23
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.23</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><B>(Summary Translation)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>Loan agreement with China Construction Bank</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%"><B>Date of the Agreement</B></TD>
    <TD STYLE="width: 70%">April 17, 2013</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Borrower (Party A)</B></TD>
    <TD>Chongqing Daqo New Energy Co., Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Lender (Party B)</B></TD>
    <TD>China Construction Bank Wanzhou Branch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Use of loan</B></TD>
    <TD>Working capital</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Amount</B></TD>
    <TD>RMB 70 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Term of loan</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1 year, from April 17, 2013 to April 16, 2014.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> If  the commencement date of the term of loan hereof
        is different from what is stated on the loan receipt, the commencement date shall be the actual loan date recorded in the
        loan         receipt of         the         first loan and the maturity date shall be adjusted accordingly.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The loan receipt is an integral part of this Agreement
        and         has the same legal effect as this Agreement.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Interest rate</B></TD>
    <TD>Fixed rate at 6% per year</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Penalty rate</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event that Party A does not apply the loan according
        to the Agreement, the penalty rate shall be the benchmark rate plus 100% thereof</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event of default, the penalty rate shall be the
        benchmark rate plus 50% thereof</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If both of the above occur, the
        penalty rate shall be the higher of the two stated above.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Value date</B></TD>
    <TD>The date of the first loan under this Agreement be deposited to the agreed loan account</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Benchmark rate</B></TD>
    <TD>The lending rate published by the People's Bank of China for the loan of the same period and class on the value date and the same rate at the date of adjustment of the interest rate hereof. If the People's Bank of China no longer publishes the lending rate of the loan of the same period and same class, the benchmark rate shall be the usual rate of the loan of the same period and class as recognized by the banking industry at the date of the adjustment of the interest rate hereof.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Calculation of interest</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Calculation shall start from the date of the loan being deposited
        to the loan account agreed. The loan shall be calculated by days with a daily interest rate = annual interest rate/360.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the Party does not pay the interest by the expiry date of
        interest, a compound interest shall be accrued from the day thereafter.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Settlement of interest</B></TD>
    <TD>Interest shall be settled according to the fixed rate as stated hereof at the 20<SUP>th</SUP> day of each month.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Withdrawal</B></TD>
    <TD>Withdrawal all at once</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <TD STYLE="width: 30%"><B>Repayment</B></TD>
    <TD STYLE="width: 70%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Repayment principle</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Party B is entitled to apply Party A's repayment to the expenses
        paid by Party B in advance which shall be undertook by Party A and fees incurred by Party B's realization of its right to the debt.
        The balance will be applied to repayment in the sequence of interest first and then principal. However, with regard to the outstanding
        loans the principal or interest of which due over 90 days or loans specifically provided in laws, regulations or rules, Party A's
        repayment shall be made in the sequence of principal first and then interest.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Repayment of interest</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Party A shall pay the interest due to Party B on the settlement
        day. The first interest payment date is the first settlement day after the grant of loan. Interest shall be repaid together with
        the last repayment of principal.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Repayment plan</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The loan shall be repaid upon expiry</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Repayment method</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Party A shall deposit enough funds in the capital collection
account or other account opened at Party B before the repayment day as provided hereof and transfer the funds for repayment of
loan (Party B has the right to deduct such funds from that account), or transfer funds from other account for repayment of loan
on the repayment day.</P>
        </TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 70%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Prepayment</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event of prepayment, Party A shall submit a
        written application to Party B 5 days in advance and may repay the whole or part of the principal in advance upon Party B's consent.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The interest shall be calculated according to the actual days
        of usage of the loan and the interest rate as provided hereof.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Party A's covenants</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. Provide financial and accounting material and operational
        materials to Party B upon request, including balance sheet, profit and loss statements and cash flow statements.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. Shall not use the assets which are coming from the loan hereof
        for third party guarantee.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. Shall report to Party B in a timely manner regarding any
        connected transaction involving over 10% of Party A' net assets, if Party A is a group client.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Breach</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event of Party B may deem its creditor's rights may be
        jeopardized by the occurrence of takeover, lease, shareholding restructure, decrease of share capital, merger, acquisition, etc.,
        Party B may:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) cease to grant the loan;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2) adding conditions for granting and payment of the loan;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3) change method of repayment of the loan according to this
        Agreement;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4) announce immediate maturity of the loan and require
        Party         A to repay all due and undue principal, interest and expenses hereof; and</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(5) other remedy method.</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-4.24
<SEQUENCE>7
<FILENAME>v371885_ex4-24.htm
<DESCRIPTION>EXHIBIT 4.24
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.24</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><B>(Summary Translation)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>Loan agreement with China Construction Bank</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%"><B>Date of the Agreement</B></TD>
    <TD STYLE="width: 70%">November 6, 2013</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Borrower (Party A)</B></TD>
    <TD>Chongqing Daqo New Energy Co., Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Lender (Party B)</B></TD>
    <TD>China Construction Bank Wanzhou Branch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Use of loan</B></TD>
    <TD>Working capital</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Amount</B></TD>
    <TD>RMB 30 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Term of loan</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1 year, from November 6, 2013 to November 5, 2014.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the commencement date of the term of loan hereof
        be different from what is stated on the loan receipt, the commencement date shall be the actual loan date recorded in the loan
        receipt of         the         first loan and the maturity date shall be adjusted accordingly.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The loan receipt is an integral part of this Agreement
        and         has the same legal effect as this Agreement.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Interest rate</B></TD>
    <TD>Fixed rate at 6% per year</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Penalty rate</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event that Party A does not apply the loan according
        to the Agreement, the penalty rate shall be the benchmark rate plus 100% thereof.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event of default, the penalty rate shall be the
        benchmark rate plus 50% thereof.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If both of the above events occur, the
        penalty rate shall be the higher of the two rates stated above.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Value date</B></TD>
    <TD>The date of the first loan under this Agreement be deposited to the agreed loan account</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Benchmark rate</B></TD>
    <TD>The lending rate published by the People's Bank of China for the loan of the same period and class on the value date and the same rate at the date of adjustment of the interest rate hereof. If the People's Bank of China no longer publishes the lending rate of the loan of the same period and same class, the benchmark rate shall be the usual rate of the loan of the same period and class as recognized by the banking industry at the date of the adjustment of the interest rate hereof.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Calculation of interest</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Calculation shall start from the date of the loan being deposited
        to the loan account agreed. The loan shall be calculated by days with a daily interest rate = annual interest rate/360.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the Party does not pay the interest by the expiry date of
        interest, a compound interest shall be accrued from the day thereafter.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Settlement of interest</B></TD>
    <TD>Interest shall be settled according to the fixed rate as stated hereof at the 20<SUP>th</SUP> day of each month.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Withdrawal</B></TD>
    <TD>RMB30 million to be withdrawn on at November 6, 2013</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <TD STYLE="width: 30%"><B>Capital&nbsp;collection account</B></TD>
    <TD STYLE="width: 70%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Party A shall open an capital&nbsp;collection account within
        5 working days after the effectiveness of this Agreement at Party B.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Party A shall monthly report to Party B regarding the capital
        collection account's inflow and outflow of the last month within the first 5 working days of each month.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The capital collection account shall meet:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Operational income shall be deposited to Party B according
        to the loan proportion and the proportion of Party A's saving balance in Party B shall be higher than the loan proportion of Party
        B; and</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2) Any outgoing payment shall be approved by Party B first.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Repayment</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Repayment principle</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Party B is entitled to apply Party A's repayment to the expenses
        paid by Party B in advance which shall be undertook by Party A and fees incurred by Party B's realization of its right to the debt.
        The balance will be applied to repayment in the sequence of interest first and then principal. However, with regard to the outstanding
        loans the principal or interest of which due over 90 days or loans specifically provided in laws, regulations or rules, Party A's
        repayment shall be made in the sequence of principal first and then interest.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Repayment of interest</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Party A shall pay the interest due to Party B on the settlement
        day. The first interest payment date is the first settlement day after the grant of loan. Interest shall be repaid together with
        the last repayment of principal.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Repayment plan</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">RMB30 million shall be repaid in  2014.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Repayment method</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Party A shall deposit enough funds in the capital collection
account or other account opened at Party B before the repayment day as provided hereof and transfer the funds for repayment of
loan (Party B has the right to deduct such funds from that account), or transfer funds from other account for repayment of loan
on the repayment day.</P>
       </TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 70%"> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Prepayment</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event of prepayment, Party A shall submit a
        written application to Party B 10 days in advance and may repay the whole or part of the principal in advance upon Party B's consent.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The interest shall be calculated according to the actual days
        of usage of the loan and the interest rate as provided hereof.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Party A's covenants</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. Provide financial and accounting material and operational
        materials to Party B upon request, including balance sheet, profit and loss statements and cash flow statements;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. Notify Party B in written of any matter which may have an
        material impact on its repayment ability or may jeopardize Party B's creditor's rights, and any change in industrial and commercial
        registration items;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. Shall not use the assets which are coming from the loan hereof
        for third party guarantee.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4. Shall report to Party B in a timely manner regarding any
        connected transaction involving over 10% of Party A' net assets, if Party A is a group client;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5. Shall obtain Party B's prior consent with respect to Party
        A's merger, spin-off, transfer of share equity, outgoing investment or substantial increase of debt financing.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Party B's rights and obligations </B></TD>
    <TD>Party B is entitled to participate in Party A's financing, sale of assets, merger, spin-off, shareholding restructure, liquidation or bankruptcy&nbsp;&nbsp;the amount of which is over RMB30 million, for the purpose of protect Party B's creditor's rights.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Breach</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event of Party B may deem its creditor's rights may be
        jeopardized by the occurrence of takeover, lease, shareholding restructure, decrease of share capital, merger, acquisition, etc.,
        Party B may:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) cease to grant the loan;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2) adding conditions for granting and payment of the loan;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3) change method of repayment of the loan according to this
        Agreement;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4) announce immediate maturity of the loan and require
        Party         A to repay all due and undue principal, interest and expenses hereof; and</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(5) other remedy method.</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; padding-right: 0; padding-left: 0; font-size: 10pt"><B>Financial covenants </B></TD>
    <TD STYLE="width: 70%; padding-right: 0; padding-left: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Party A's financial performance and operations are subject to
        the following restrictions:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. Party A shall not incur any other contingent liabilities
apart from providing guarantee for loans extended by Party B to Daqo Group members.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. During the valid term of the loan, the debt to asset
ratio of Party A shall be no more than 65%, and the liquidity ratio shall be no less than 0.9.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. During the valid term of the loan, Party A shall
notify Party B of any long-term investment in advance. If the controlling person of Party A changes, Party B is entitled to freeze
Party A's unused proceeds or accelerate the loan.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4. Before the loan has been fully repaid, Party A may
not repay shareholder and controlling person loans.</P></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TYPE>EX-4.25
<SEQUENCE>8
<FILENAME>v371885_ex4-25.htm
<DESCRIPTION>EXHIBIT 4.25
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.25</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><B>(Summary Translation)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>Loan agreement with Chongqing Three Gorges Bank</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%"><B>Date of the Agreement</B></TD>
    <TD STYLE="width: 70%">December 18, 2013</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Borrower (Party A)</B></TD>
    <TD>Chongqing Daqo New Energy Co., Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Lender (Party B)</B></TD>
    <TD>Chongqing Three Gorges Bank Wanzhou Branch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Date and No. of comprehensive credit agreement</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SXC02262013400017</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">December 18, 2013</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Use of loan</B></TD>
    <TD>Purchase of raw material</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Type of loan</B></TD>
    <TD>Working capital loan</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Amount</B></TD>
    <TD>RMB 70 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Term of loan</B></TD>
    <TD>12 months</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Interest rate</B></TD>
    <TD>Fixed rate at 6.6% per year</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Interest settlement day </B></TD>
    <TD>Interest shall be settled on the 20<SUP>th</SUP> day of each month.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Withdrawal</B></TD>
    <TD>Loan shall be withdrawn in two tranches</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Repayment</B></TD>
    <TD>Repayment of principal and interest shall be made in once on December 19, 2014</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Guarantee</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. Guarantee provided by Daqo Group Co., Ltd.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. Guarantee provided by Nanjing Daqo Electrical Co., Ltd.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. Guarantee provided by Chongqing Wanzhou Economic Technological
        Development Co., Ltd.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Party A's covenants</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Party A shall:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. Notify Party B in at least 30 days advance and obtain a written
        consent from Party B in respect of leasing, shareholding restructure, merger, joint venture, spin-off, substantial asset transfer
        and other actions which will affect the realization of Party B's rights;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. Notify Party B in written immediately in respect of any matter
        which may jeopardize Party A's normal operation or cause material adverse impact to its ability to its performance of this Agreement;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. Notify Party B in written in respect of shut down, dissolution,
        suspension or revocation within 5 days since the occurrence of such event and guarantee to immediately repay the principal and
        interest.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Events of Default</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. Party A authorizes Party B to deduct the funds it
        deposited         the accounts opened at Chongqing Three Gorges Bank for the repayment of loan in the event of default. The
        interest of the default         loan shall be the fixed interest rate as agreed hereof plus 50% thereof and the for
        the         outstanding interest a compound interest will be         imposed.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. In the event that Party A does not withdraw the loan as agreed
        hereof, Party B is entitled to charge a daily default penalty according to the interest rate agreed hereof;</P>
       </TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

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    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 70%"> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. In the event that Party A does not apply the loan as agreed
        hereof, Party B is entitled to cease to grant the loan and require for repayment of the whole or part of the loan or terminate
        the Agreement and impose an interest of 100% over the hereby agreed interest rate for the part of loan that is not applied as agreed.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4. Party A dispose, transfer or threaten to transfer material
        part of its asset without Party B's prior consent;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5. Contracting, leasing, shareholding restructure, merger, joint
        venture, decrease of share capital, spin-off, substantial asset transfer and other actions which will affect the realization of
        Party B's rights without Party B's prior consent.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">6. Involved in material financial dispute or deterioration of
        financial status which may materially affect or jeopardize the realization of Party B's creditor's rights.</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TYPE>EX-4.26
<SEQUENCE>9
<FILENAME>v371885_ex4-26.htm
<DESCRIPTION>EXHIBIT 4.26
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<P STYLE="margin-top: 0; text-align: right; margin-bottom: 0"><B>Exhibit 4.26</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><B>(English Translation)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Lease Contract (Revised Edition)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">This Lease Contract
(hereinafter referred to as &ldquo;this Contract&rdquo;) is made by and between the following two parties, taking effect since
January 1, 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt; text-align: justify">Lessor: Daqo New Material Co.,
Ltd.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt; text-align: justify">Address: Industrial Park of Wanzhou
District, Chongqing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt; text-align: justify">Legal representative: Xu Guangfu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt; text-align: justify">Lessee: Chongqing Daqo New Energy
Co., Ltd.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt; text-align: justify">Address: (Salt and Gas Chemical
Industrial Park of Wanzhou District) Xianjia Village, Longdu Street, Wanzhou&nbsp;District, Chongqing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt; text-align: justify">Legal representative: Xu Guangfu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">Given the Lessor and
the Lessee had signed a lease contract taking effect on July 1, 2008 (hereinafter referred to as &ldquo;2008 Contract&rdquo;),
certain matters are agreed therein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">Given the Lessor and
the Lessee have negotiated on the issue of leasing and made an agreement to modify and restate the 2008 Contract and let this Contract
to replace the 2008 Contract;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">In accordance with the
<I>Contract&nbsp;Law&nbsp;of&nbsp;the People&rsquo;s&nbsp;Republic&nbsp;of&nbsp;China</I> and related laws and regulations, the
two parties have made the following agreements upon equal negotiation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 1 Effective date of this Contract</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">The parties agree that
this Contract will take effect from January 1, 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 2 Lease subject</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">The subject of this
Lease Contract includes all the equipment, land, factory buildings and other buildings which are owned or used by the Lessor and
are situated at the Salt and Gas Chemical Industrial Park of Wanzhou District (the above-mentioned equipment, land, factory buildings
and other buildings are collectively referred as &ldquo;Lease Subject&rdquo;; the ownership of the above-mentioned equipment, factory
buildings and other buildings and land use right are collectively referred as &ldquo;Property Right&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 3 Lease term and the Lessee&rsquo;s
purchase option</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">The lease term of this Contract is five years, from <U>January 1</U>, 2009 to <U>December 31</U>,
2014.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">If the Lessee wants to extend the lease term for business need, the Lessee is entitled to renew
this Contract for another five years with the Lessor within one month prior to expiration of this Contract under the same conditions
with this Contract and the Lessor shall consent on the renewal. Where the Lessee wants to continue to rent the lease subject within
one month prior to expiration of the extended lease term, the Lessor shall continue to rent the lease subject to the Lessee.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The Lessor hereby irrevocably grants the Lessee the right to: under the conditions permitted by
law in the future, the Lessee is entitled at any time within the period of existence of the lease relationship, and within one
year after the expiry of the lease, ask the Lessor to sell the property right of lease subject to the Lessee or to companies or
individuals designated by the Lessee by the prevailing fair price. The above-mentioned fair price for the property right of lease
subject shall be determined by mutual negotiation. When the both parties can not reach consensus, the price shall be determined
by an independent third party selected by the two sides with assessment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 4 Property right</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">During the lease term, the property right of the lease subject under Article 1 of this Contract
belongs to the Lessor. The Lessee only has the right to use the lease subject.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">If the Lessor transfers the property right of the lease subject to a third party in accordance
with applicable laws or legal procedures, unless otherwise agreed by the Lessee in writing, this Contract shall continue to be
valid for the new owner. In addition, the Lessor is obliged to notice the Lessee in reasonable period before the transfer, and
the Lessee is entitled to have a preemptive right under the same conditions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 5 Rent and payment</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Rent: RMB 6,125,000.00 per month.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Rent payment: The rent shall be paid by month. The Lessor shall issue the settlement list and invoice
on 25th of each month to the Lessee in order to handle the settlement procedures. And the Lessee shall make payment within ten
working days after receiving the settlement list and invoice of the month.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The starting and ending date for calculating the rent</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(1)</TD><TD STYLE="text-align: justify">The starting date for calculating the rent shall be <U>January 1, 2009</U>.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(2)</TD><TD STYLE="text-align: justify">Within the lease term, the work stop caused by the Lessee or by natural reasons shall be calculated
by calendar days.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 6 Obligations and responsibilities
of both parties</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Obligations and responsibilities of the Lessor</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(1)</TD><TD STYLE="text-align: justify">The Lessor shall not hinder the Lessee&rsquo;s quiet use, possession or enjoyment of the lease
subject within the lease term, but the proper exercise of the rights under this Contract or related to this Contract by the Lessor
will not constitute the prejudice.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(2)</TD><TD STYLE="text-align: justify">The Lessor shall work closely with the construction, production and operation of the Lessee to
meet the relevant requirements of the Lessee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Obligations and responsibilities of the Lessee</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(1)</TD><TD STYLE="text-align: justify">Legal and safe operation</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.7pt; text-align: justify">The Lessee shall:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.7pt"></TD><TD STYLE="width: 17.85pt">(i)</TD><TD STYLE="text-align: justify">only use the lease subject for legal purposes;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.7pt"></TD><TD STYLE="width: 17.85pt">(ii)</TD><TD STYLE="text-align: justify">obtain and maintain all certificates, licenses, permits and authorization on the use and operation
of the lease subject required from time to time and strictly perform the obligations of making payment and other related obligations
under this Contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(2)</TD><TD STYLE="text-align: justify">Property rights and interests</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.7pt; text-align: justify">The Lessee shall:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.7pt"></TD><TD STYLE="width: 17.85pt">(i)</TD><TD STYLE="text-align: justify">not conduct or permit to conduct any thing that can be reasonably foreseeable to make the subject
into fine, confiscation, seizure, embezzlement, damage or loss situation; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.7pt"></TD><TD STYLE="width: 17.85pt">(ii)</TD><TD STYLE="text-align: justify">not set guarantees or other third-party interests on the lease subject except with the prior written
permission of the Lessor.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(3)</TD><TD STYLE="text-align: justify">Maintenance and overhaul</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.7pt"></TD><TD STYLE="width: 17.85pt">(i)</TD><TD STYLE="text-align: justify">The Lessee shall maintain the lease subject in the similar manner at least and the degree of caution
with other similar lease objects owned or operated by it.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 7 Liabilities for breach of contract</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Lessor&rsquo;s rights and remedy measures under the default of the Lessee</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">If any event of default of the
Lessee happens and continues to exist, the Lessor could take the following remedy measures at any time after the occurrence of
the event of default (without prejudice to any other rights of the Lessor under this Contract).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(1)</TD><TD STYLE="text-align: justify">to exercise any of the rights provided in the following item 2 (to terminate this Contract in advance);
and/or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(2)</TD><TD STYLE="text-align: justify">to accept this action and terminate the renting of the equipment by sending a notice to the Lessee
(without prejudice to the unfinished obligations of the Lessee under this Contract); and/ or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(3)</TD><TD STYLE="text-align: justify">to enforce this agreement or to obtain damages for breach of contract by the court with jurisdiction
or by arbitration.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Terminate this Contract in advance</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">If any event of default of the
Lessee happens, the Lessor may send a notice to ask the Lessee to return the lease equipment. Under this condition, the Lessee
shall pay to the Lessor the total of the following terms within three (3) days of the event of default (&ldquo;the termination
date of the agreement&rdquo;):</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(1)</TD><TD STYLE="text-align: justify">Any due rent as of the termination date of the contract;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(2)</TD><TD STYLE="text-align: justify">Any other fees that should be paid by the Lessee to the Lessor, which are generated on the termination
date of the contract or have been due in accordance with this Contract or other documents; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(3)</TD><TD STYLE="text-align: justify">Any other costs and expenses (including legal fees, professional fees, inspection fees, disbursements
and other costs) incurred or payable by the Lessor due to the return of the equipment by the Lessee, which are predictable at the
time of signing this Contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Liquidated damages under the default of the Lessor</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">If any event of default of the
Lessor happens, the Lessee has the right to request the Lessor to compensate any direct or indirect loss suffered therefrom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 8 Declarations and warranties</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">The Lessor:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 18.7pt">(1)</TD><TD STYLE="text-align: justify">The Lessor is a duly incorporated and validly existing enterprise, and it has the right to sign
and has the ability to perform this Contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 18.7pt">(2)</TD><TD STYLE="text-align: justify">The Lessor has obtained all the authorizations, certificates, licenses and qualifications necessary
for the signing and performance of this Contract and they are all legitimate and valid.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 18.7pt">(3)</TD><TD STYLE="text-align: justify">In signing this Contract, any court, arbitral institution, administrative organ or regulatory body
has not made <FONT STYLE="font-family: Times New Roman, Times, Serif">&#8203;&#8203;</FONT>any judgment, ruling, decision or a
specific administrative act adverse for the Lessor to perform this Contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 18.7pt">(4)</TD><TD STYLE="text-align: justify">The required internal authorization for the Lessor to sign this Contract has been completed. The
signatory of this Contract is the legal representative or authorized representative of the Lessor. After the commencement of this
Contract, it is legally binding upon both parties to this Contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">The Lessee:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(1)</TD><TD STYLE="text-align: justify">The Lessee is a duly incorporated and validly existing enterprise, and it has the right to sign
and have the ability to perform this Contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(2)</TD><TD STYLE="text-align: justify">The Lessee has obtained all the authorizations, certificates, licenses and qualifications necessary
for the signing and performance of this Contract and they are all legitimate and valid.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(3)</TD><TD STYLE="text-align: justify">In signing this Contract, any court, arbitral institution, administrative organ or regulatory body
has not made <FONT STYLE="font-family: Times New Roman, Times, Serif">&#8203;&#8203;</FONT>any judgment, ruling, decision or a
specific administrative act adverse for the Lessee to perform this Contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(4)</TD><TD STYLE="text-align: justify">The required internal authorization for the Lessee to sign this Contract has been completed; the
signatory of this Contract is the legal representative or authorized representative of the Lessee. After the commencement of this
Contract, it is legally binding upon both parties to this Contract.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 9 Force majeure</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Force majeure as referred to in this Contract means&nbsp;unforeseeable, insurmountable and unavoidable
objective events which cause significant impact on one party, including but not limited to natural disasters such as flood, earthquake,
fire and windstorm as well as social events such as war, turmoil, government action, etc.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">As the occurrence of a force majeure event leads to the failure of this Contract to be fulfilled,
the party suffering from the force majeure shall immediately inform the other party of the force majeure event in writing and shall
provide details of the force majeure event and written information about nonperformance or delayed performance of this Contract
within <U>3</U> days. After being approved and consulted by both parties, they consent to terminate this Contract or temporarily
delay the performance.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 10 Notice</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Unless otherwise stipulated, all notices under this Contract or in relation to this Contract may
be delivered in written letter or fax. When delivered in the following ways, notices shall be deemed valid:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(1)</TD><TD STYLE="text-align: justify">If delivered by written letter, it is to be effective on the date of receiving or the seventh date
after delivery, and the earlier date of those two dates shall prevail; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(2)</TD><TD STYLE="text-align: justify">If delivered by fax, it is to be effective on the date that the document is sent and the sender
has informed the other party about the delivery by phone.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 11 Governing laws and dispute resolution</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">This Contract is governed by and construed in accordance with the laws of China.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Any dispute arising from or in connection with this Contract shall be submitted to China International
Economic and Trade Arbitration Commission (CIETAC) for arbitration which shall be conducted in accordance with the CIETAC arbitration
rules in effect at the time of applying for arbitration. The place of arbitration is in Beijing and Chinese is used in arbitration
proceedings. The arbitral award is final and binding upon both parties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 12 Interpretation of this Contract</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">The understanding and
interpretation of this Contract shall be based on the purpose of this Contract and intent of the text. The title of this Contract
is only for convenience to read and does not affect the interpretation of this Contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 13 Uniqueness and integrity of
this Contract</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">This Contract is the
unique and intact agreement between the Lessor and the Lessee on the lease subject and replaces all the preceding agreements, contracts
or understanding between the two parties on the lease. Any modification of this Contract shall be made in writing and be signed
by the Lessor and the Lessee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 14 Duplication</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">This Contract is made
in duplicate, both of which shall be deemed as original; all copies together constitute the same one.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">This Contract is signed
and stamped by the following two parties to be obeyed, effective on January 1, 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%"><FONT STYLE="font-size: 10pt">The Lessor (Seal): </FONT></TD>
    <TD STYLE="width: 26%; border-bottom: Black 1pt solid">Common Seal</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 23%"><FONT STYLE="font-size: 10pt">The Lessee (Seal): </FONT></TD>
    <TD STYLE="width: 26%; border-bottom: Black 1pt solid">Common Seal</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Daqo New Material Co., Ltd. (Seal)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Chongqing Daqo New Energy Co., Ltd.&nbsp;(Seal)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP><FONT STYLE="font-size: 10pt">Person in Charge (Signature): </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font-size: 10pt">Person in Charge (Signature): </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Yao</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Signing Date: August 19, 2009</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Signing Date: August 19, 2009</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Certificate for Registration and Record
        of Chongqing Housing Lease Contract</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Contract registration and record No. (2009)
        00012</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 52.5pt; text-align: justify">Lessor: <U>Daqo New Material
        Co., Ltd.</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 52.5pt; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 52.5pt; text-align: justify">Lessee: <U>Chongqing Daqo New
        Energy Co., Ltd.</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 52.5pt; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">The Lessor rents to
        the Lessee the premise located in <U>No. 666 Longdu Street, Wanzhou District</U>, Chongqing. The premise certificate number is
        <U>301 of certificate of origin (2009) 08419, 08420, 08421, 08422 and 08423</U>. The premise is for <U>office use and others</U>.
        The rented construction area is <FONT STYLE="font-family: Times New Roman, Times, Serif">&#8203;&#8203;</FONT><U>20005.39</U> square
        meters and the lease term is from <U>January 1, 2009</U> to <U>December 31, 2013</U>. The Housing Lease Contract has already been
        registered and recorded in accordance with the relevant provisions of Regulations on Chongqing Urban Real Estate Transaction Management
        in real estate management department.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Real Estate Management
        Department (Seal)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Wanzhou District Housing Exchange of Chongqing
        (Seal)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">November 9, 2009&nbsp;</P></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0">Notes:</P>
                                                                                       <P STYLE="margin-top: 0; margin-bottom: 0">1. The certificate is held by both parties of the lease contract.</P>
                                                                                       <P STYLE="margin-top: 0; margin-bottom: 0">2. The matters described in this certificate have been registered and recorded by the real estate management department. In case of any change, both sides need to apply to the real estate management department for change of registration of the certificate.</P>
                                                                                       <P STYLE="margin-top: 0; margin-bottom: 0">3. The details agreed by both parties shall see the Housing Lease Contract.</P>
                                                                                       <P STYLE="margin-top: 0; margin-bottom: 0">4. The certificate will be legal and valid within the lease term.</P>
                                                                                       <P STYLE="margin-top: 0; margin-bottom: 0">5. The certificate may not be altered. Once altered, the certificate becomes invalid. &nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0; margin-left: 0.25in">Note:</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-4.27
<SEQUENCE>10
<FILENAME>v371885_ex4-27.htm
<DESCRIPTION>EXHIBIT 4.27
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.27</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><B>(English Translation)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Lease Contract</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">This Lease Contract
(hereinafter referred to as &ldquo;this Contract&rdquo;) is made by and between the following two parties, taking effect since
January 1, 2012:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt; text-align: justify">Lessor: Daqo New Material Co.,
Ltd.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt; text-align: justify">Address: Industrial Park of Wanzhou
District, Chongqing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt; text-align: justify">Legal representative: Xu Guangfu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt; text-align: justify">Lessee: Chongqing Daqo New Energy
Co., Ltd.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt; text-align: justify">Address: Xianjia Village, Longdu
Street, Wanzhou&nbsp;District, Chongqing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt; text-align: justify">Legal representative: Xu Guangfu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">Given the Lessor and
the Lessee have friendly negotiated on the issue of leasing and made an agreement to modify this Contract, thus the original lease
contract (referring to this lease contract made in January 2009 and the supplemental agreement made in November 2009 ) becomes
invalid since the effective date of this Contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">In accordance with the
<I>Contract&nbsp;Law&nbsp;of&nbsp;the People&rsquo;s&nbsp;Republic&nbsp;of&nbsp;China</I> and related laws and regulations, the
two parties have made the following agreements upon equal negotiation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 1 Lease subject</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">The subject of this
Lease Contract includes all the equipment, land, factory buildings and other buildings owned or used by the Lessor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 2 The lease term and the Lessee&rsquo;s
purchase option</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">The lease term starts from the effective date of this Contract and ends on December 31, 2016.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">If the Lessee wants to extend the lease term for business need, the Lessee is entitled to renew
this Contract for another five years with the Lessor within one month prior to expiration of this Contract under the same conditions
with this Contract and the Lessor shall consent on the renewal. Where the Lessee wants to continue to rent the lease subject within
one month prior to expiration of the extended lease term, the Lessor shall continue to rent the lease subject to the Lessee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The Lessor hereby irrevocably grants the Lessee the right to: under the conditions permitted by
law in the future, the Lessee is entitled at any time within the period of existence of the lease relationship, and within one
year after the expiry of the lease, ask the Lessor to sell the property right of lease subject to the Lessee or to companies or
individuals designated by the Lessee by the prevailing fair price. The above-mentioned fair price for the property right of lease
subject shall be determined by mutual negotiation. When the both parties can not reach consensus, the price shall be determined
by an independent third party selected by the two sides with assessment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 3 Property right</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">During the lease term, the property right of the lease subject under Article 1 of this Contract
belongs to the Lessor. The Lessee only has the right to use the lease subject.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">If the Lessor transfers the property right of the lease subject to a third party in accordance
with applicable laws or legal procedures, unless otherwise agreed by the Lessee in writing, this Contract shall continue to be
valid for the new owner. In addition, the Lessor is obliged to notice the Lessee in reasonable period before the transfer, and
the Lessee is entitled to have a preemptive right under the same conditions.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">During the lease term, if the Lessee wants to make improvements or additional attachments to the
lease equipment, prior consent of the Lessor in writing is necessary. Without the consent of the Lessor, the Lessee shall not increase
or decrease the components of the equipment, nor take out a mortgage on the equipment for any reason, otherwise all the consequences
arising therefrom shall be borne by the Lessee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 4 Rent and payment</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Rent: RMB 6,510,000.00 per month.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Rent payment: The rent shall be paid by month. The Lessor shall issue the settlement list and invoice
on 25th of each month to the Lessee in order to handle the settlement procedures. And the Lessee shall make payment within ten
working days after receiving the settlement list and invoice of the month.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Within the lease term, the work stop caused by the Lessee or by natural reasons shall be calculated
by calendar days.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 5 Obligations and responsibilities
of both parties</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Obligations and responsibilities of the Lessor</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(1)</TD><TD STYLE="text-align: justify">The Lessor shall not hinder the Lessee&rsquo;s quiet use, possession or enjoyment of the lease
subject within the lease term, but the proper exercise of the rights under this Contract or related to this Contract by the Lessor
will not constitute the prejudice.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(2)</TD><TD STYLE="text-align: justify">The Lessor shall work closely with the construction, production and operation of the Lessee to
meet the relevant requirements of the Lessee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Obligations and responsibilities of the Lessee</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(1)</TD><TD STYLE="text-align: justify">Legal and safe operation</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.7pt; text-align: justify">The Lessee shall only use the
lease subject for legal purposes. All certificates, licenses, permits and authorization on the use and operation of the lease subject
required from time to time shall be obtained and maintained and the obligations of making payment and other related obligations
under this Contract shall be strictly performed.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(2)</TD><TD STYLE="text-align: justify">Property rights and interests</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.7pt; text-align: justify">The Lessee shall not conduct
or permit to conduct any thing that can be reasonably foreseeable to make the subject into fine, confiscation, seizure, embezzlement,
damage or loss situation, and the Lessee shall not set guarantees or other third-party interests on the lease subject except with
the prior written permission of the Lessor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.7pt; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.7pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(3)</TD><TD STYLE="text-align: justify">Maintenance and overhaul</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.7pt; text-align: justify">The Lessee shall maintain the
lease subject in the similar manner at least and the degree of caution with other similar lease objects owned or operated by it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 6 Liabilities for breach of contract</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Lessor&rsquo;s rights and remedy measures under the default of the Lessee</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">If any event of default of the
Lessee happens and continues to exist, the Lessor could take the following remedy measures at any time after the occurrence of
the event of default (without prejudice to any other rights of the Lessor under this Contract).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(1)</TD><TD STYLE="text-align: justify">to exercise any of the rights provided in the following item 2 (to terminate this Contract in advance);
and/ or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(2)</TD><TD STYLE="text-align: justify">to accept this action and terminate the renting of the equipment by sending a notice to the Lessee
(without prejudice to the unfinished obligations of the Lessee under this Contract); and/ or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(3)</TD><TD STYLE="text-align: justify">to enforce this agreement or to obtain damages for breach of contract by the court with jurisdiction
or by arbitration.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Terminate this Contract in advance</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">If any event of default of the
Lessee happens, the Lessor may send a notice to ask the Lessee to return the lease equipment. Under this condition, the Lessee
shall pay to the Lessor the total of the following terms within three (3) days of the event of default (&ldquo;the termination
date of the agreement&rdquo;):</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(1)</TD><TD STYLE="text-align: justify">Any due rent as of the termination date of the contract;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(2)</TD><TD STYLE="text-align: justify">Any other fees that should be paid by the Lessee to the Lessor, which are generated on the termination
date of the contract or have been due in accordance with this Contract or other documents; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(3)</TD><TD STYLE="text-align: justify">Any other costs and expenses (including legal fees, professional fees, inspection fees, disbursements
and other costs) incurred or payable by the Lessor due to the return of the equipment by the Lessee, which are predictable at the
time of signing this Contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Liquidated damages under the default of the Lessor</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">If any event of default of the
Lessor happens, the Lessee has the right to request the Lessor to compensate any direct or indirect loss suffered therefrom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 7 Declarations and warranties</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">The Lessor:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 18.7pt">(1)</TD><TD STYLE="text-align: justify">The Lessor is a duly incorporated and validly existing enterprise, and it has the right to sign
and has the ability to perform this Contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 18.7pt">(2)</TD><TD STYLE="text-align: justify">The Lessor has obtained all the authorizations, certificates, licenses and qualifications necessary
for the signing and performance of this Contract and they are all legitimate and valid.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 18.7pt">(3)</TD><TD STYLE="text-align: justify">In signing this Contract, any court, arbitral institution, administrative organ or regulatory body
has not made <FONT STYLE="font-family: Times New Roman, Times, Serif">&#8203;&#8203;</FONT>any judgment, ruling, decision or a
specific administrative act adverse for the Lessor to perform this Contract.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 18.7pt">(4)</TD><TD STYLE="text-align: justify">The required internal authorization for the Lessor to sign this Contract has been completed. The
signatory of this Contract is the legal representative or authorized representative of the Lessor. After the commencement of this
Contract, it is legally binding upon both parties to this Contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">The Lessee:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(1)</TD><TD STYLE="text-align: justify">The Lessee is a duly incorporated and validly existing enterprise, and it has the right to sign
and have the ability to perform this Contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(2)</TD><TD STYLE="text-align: justify">The Lessee has obtained all the authorizations, certificates, licenses and qualifications necessary
for the signing and performance of this Contract and they are all legitimate and valid.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(3)</TD><TD STYLE="text-align: justify">In signing this Contract, any court, arbitral institution, administrative organ or regulatory body
has not made <FONT STYLE="font-family: Times New Roman, Times, Serif">&#8203;&#8203;</FONT>any judgment, ruling, decision or a
specific administrative act adverse for the Lessee to perform this Contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(4)</TD><TD STYLE="text-align: justify">The required internal authorization for the Lessee to sign this Contract has been completed; the
signatory of this Contract is the legal representative or authorized representative of the Lessee. After the commencement of this
Contract, it is legally binding upon both parties to this Contract.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 8 Force majeure</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Force majeure as referred to in this Contract means&nbsp;unforeseeable, insurmountable and unavoidable
objective events which cause significant impact on one party, including but not limited to natural disasters such as flood, earthquake,
fire and windstorm as well as social events such as war, turmoil, government action, etc.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">As the occurrence of a force majeure event leads to the failure of this Contract to be fulfilled,
the party suffering from the force majeure shall immediately inform the other party of the force majeure event in writing and shall
provide details of the force majeure event and written information about nonperformance or delayed performance of this Contract
within <U>3</U> days. After being approved and consulted by both parties, they consent to terminate this Contract or temporarily
delay the performance.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 9 Notice</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Unless otherwise stipulated,
all notices under this Contract or in relation to this Contract may be delivered in written letter or fax. When delivered in the
following ways, notices shall be deemed valid:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">If delivered by written letter, it is to be effective on the date of receiving or the seventh date
after delivery, and the earlier date of those two dates shall prevail; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">If delivered by fax, it is to be effective on the date that the document is sent and the sender
has informed the other party about the delivery by phone.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 10 Governing laws and dispute resolution</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">This Contract is governed by and construed in accordance with the laws of China.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Any dispute arising from or in connection with this Contract shall be submitted to China International
Economic and Trade Arbitration Commission (CIETAC) for arbitration which shall be conducted in accordance with the CIETAC arbitration
rules in effect at the time of applying for arbitration. The place of arbitration is in Beijing and Chinese is used in arbitration
proceedings. The arbitral award is final and binding upon both parties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 11 Interpretation of this Contract</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">The understanding and
interpretation of this Contract shall be based on the purpose of this Contract and intent of the text. The title of this Contract
is only for convenience to read and does not affect the interpretation of this Contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 12 Uniqueness and integrity of
this Contract</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">This Contract is the
unique and intact agreement between the Lessor and the Lessee on the lease subject and replaces all the preceding agreements, contracts
or understanding between the two parties on the lease. Any modification of this Contract shall be made in writing and be signed
by the Lessor and the Lessee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 13 Duplication</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">This Contract is made
in duplicate, both of which shall be deemed as original; all copies together constitute the same one.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">This Contract is signed
and stamped by the following two parties to be obeyed, effective on January 1, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 23%"><FONT STYLE="font-size: 10pt">The Lessor (Seal): </FONT></TD>
    <TD STYLE="width: 26%; border-bottom: Black 1pt solid">Common Seal</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 23%"><FONT STYLE="font-size: 10pt">The Lessee (Seal): </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 26%">Common Seal</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Daqo New Material Co., Ltd. (Seal)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Chongqing Daqo New Energy Co., Ltd.&nbsp;(Seal)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP><FONT STYLE="font-size: 10pt">Person in Charge (Signature): </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font-size: 10pt">Person in Charge (Signature): </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Signing Date: January 10, 2012</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Signing Date: January 10, 2012</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<DOCUMENT>
<TYPE>EX-4.28
<SEQUENCE>11
<FILENAME>v371885_ex4-28.htm
<DESCRIPTION>EXHIBIT 4.28
<TEXT>
<HTML>
<HEAD>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.28</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: left"><B>(English Translation)</B></P>

<P STYLE="margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Supplemental Agreement&nbsp;to the Lease
Contract</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Lessor: Daqo New Material Co., Ltd.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Address: Industrial Park of Wanzhou District,
Chongqing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Legal representative: Xu Guangfu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Lessee: Chongqing Daqo New Energy Co.,
Ltd.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Address: (Salt and Gas Chemical Industrial
Park of Wanzhou District, Chongqing) Xianjia Village, Longdu Street, Wanzhou&nbsp;District, Chongqing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Legal representative: Xu Guangfu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Given the Lessor and the Lessee had signed
a supplemental agreement to the lease contract taking effect on October 1, 2012, certain matters are agreed therein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In view of the fact that the Lessee has
stopped the production of polycrystalline&nbsp;silicon project, the Lessor and the Lessee have equally negotiated on the issue
of stopping the lease matters in accordance with the <I>Contract&nbsp;Law&nbsp;of&nbsp;the People&rsquo;s&nbsp;Republic&nbsp;of&nbsp;China</I>
and related laws and regulations and have made the following agreements:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 1 Effective date of this Contract:
the date for stopping the lease: December 30, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 2 The original subject of this
Lease Contract includes the ownership of equipment, land, factory buildings as well as other buildings situated in Wanzhou Chemical
Industry Park (original Salt and Gas Chemical Industrial Park) and the land use right, which are owned or used by the Lessor.,
and are collectively referred to as &ldquo;Property Right&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 3 The machinery equipment and property
and goods and materials whose property right is owned by the Lessee and which are still installed or placed in the Lessor&rsquo;s
venue shall be co-managed by the Lessor and the Lessee since January 1, 2014 until they are all moved away by the Lessee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 4 The original subjects of the
lease shall be cleaned and identified by both parties since December 31, 2013. As for the non-normal wear-and-tear and loss of
goods and materials, the Lessee shall be responsible for damages or restitution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 5 When the representatives of the
Lessee and the Lessor begin to check the lease subject, it is necessary to make an itemized registration for the subject that has
been returned and form a registration list, which shall take effect after being signed by both parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 6 Rent and payment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1. The calculation of payment provided
in the original contract shall be stopped since December 31, 2013 and the Lessee shall pay the unpaid rent as soon as possible
unless otherwise agreed by the Lessor and the Lessee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 7 Obligations and responsibilities
of both parties</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1. Obligations and responsibilities of
the Lessor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1) The Lessor could not hinder the Lessee
to sort out and transfer the equipment and utilities and other properties and goods and materials whose property rights are owned
by the Lessee after this agreement comes into force.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2) During the period of co-management
before the goods and materials of the Lessee have been completely moved away from the original lease venue, the Lessor is obliged
to pay the management costs, like security and fire costs, which are necessary for the co-management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2. Obligations and responsibilities of
the Lessee</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1) The Lessee is obliged to process the
properties and goods and materials, whose property rights belong to the Lessee but are still located in the Lessor&rsquo;s venue,
as soon as possible after the&nbsp;expiration of the lease term. While processing, the Lessor&rsquo;s utilities and equipment should
be as intact as possible. And if there are any damages, the Lessee shall be liable for damages or restitution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2) During the period of co-management
before the goods and materials of the Lessee have been completely moved away from the original lease venue, the Lessee is obliged
to ensure the safety of the properties and goods and materials of the original tenant, to closely assist the Lessor with the follow-up
work and to meet the relevant requirements of the Lessor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 8 Liabilities for breach of contract</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1. Lessor&rsquo;s rights and remedy measures
under the default of the Lessee</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If any event of default of the Lessee happens
and continues to exist, the Lessor could take the following remedy measures at any time after the occurrence of the event of default
(without prejudice to any other rights of the Lessor under this Contract).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 9 The issues not listed herein
shall be resolved by both parties through negotiation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 10 This Contract is made in duplicate,
one for each party, and shall come into force after being signed and sealed by both parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No text below</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Chongqing Daqo New Energy Co., Ltd.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Common Seal</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Authorized Person: /s/ Zhu Wengang</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">December 31, 2013</P></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Daqo New Material Co., Ltd.&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Common Seal</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Authorized Person: /s/ Li Changsheng</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">December 31, 2013</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.29
<SEQUENCE>12
<FILENAME>v371885_ex4-29.htm
<DESCRIPTION>EXHIBIT 4.29
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.29</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><B>(English Translation)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Supplementary Agreement to the Lease Contract</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Lessor: Daqo New Material Co., Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Address: Industrial Park of Wanzhou District,
Chongqing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Legal representative: Xu Guangfu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Lessee: Chongqing Daqo New Energy Co.,
Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Address: (Salt and Gas Chemical Industrial
Park of Wanzhou District, Chongqing) Xianjia Village, Longdu Street, Wanzhou&nbsp;District, Chongqing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Legal representative: Xu Guangfu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In regard to leasing matters, on the basis
of equality and mutual benefit, both parties have reached following agreement through friendly consultation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 1 Effective date: Both parties
agree and acknowledge that this Contract shall be effective from January 1, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 2 The original subject of this
Lease Contract includes the ownership of equipment, land, factory buildings as well as other buildings situated in Wanzhou Chemical
Industry Park (original Salt and Gas Chemical Industrial Park) and the land use right, which are owned or used by the Lessor. The
details are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Name of subject matter</FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Location of subject matter</FONT></TD>
    <TD STYLE="width: 31%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Certificate &amp; number of subject matter</FONT></TD>
    <TD STYLE="width: 19%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Unit of measurement</FONT></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Quantity</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 10pt">The area used by New Energy in Baian Garden</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Baian Garden</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Real Estate Certificate of the expert building
        No.: 301 Five of Property Card (2010) 00611</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Real Estate Certificate No. of the club: 301
        Five of Property Card (2010) 00612</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Square meter</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">6759.44</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 10pt">The second, fourth, fifth floors in the office building</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Factory</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 10pt">Real Estate Certificate No.: 301 of Property Card (2009) 08423</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Square meter</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">2975.88</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 10pt">The land still needs utilizing&nbsp;&nbsp;out of&nbsp;&nbsp;&nbsp;polysilicon project</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Factory</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 10pt">Certificate of Land No.: 301D Five of Property Card (2011) 00554 &amp; 00553</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Mu</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">446.4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 10pt">The area used for shift dormitory in new energy</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Factory</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 10pt">Real Estate Certificate No.: 301 of Property Card (2009) 88422</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Square meter</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">1003.06</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 3 During the lease term, the Lessor
agrees the Lessee to use the lease subject stipulated in this Contract. At the end of the lease term, the Lessee shall return the
lease subject to the Lessor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 4 During the lease term, the Lessee
shall protect the shape, structure and performance of the lease subject from damage. At the end of lease term, both parties shall
examine and accept the lease subjects, issue a list of transfer and report the damages at the time of transfer and the estimated
loss. The Lessee shall be liable for compensation of the loss causing by other reasons other than non-natural wear and consumption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 5 Rent and payment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1. Rent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1) Both parties prescribe that the amount
of rent is RMB 550,000 per month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2) Other relevant expense: the expenses
for the routine maintenance and repair of the lease subject and the fees for water and electricity during the lease term all belong
to the necessary costs for maintaining the lease subject&rsquo;s normal use, which are not included in the rent, shall also be
paid by the Lessee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2. The lease term is 3 years. During this
period, the rent remains unchanged. At the end of the lease term, the Lessee has the priority to renew the Lease Contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">3. Payment of rent: The rent is paid quarterly.
The Lessor shall deliver a settlement list to the Lessee within 10 working days before the end of the quarter. The Lessee shall
pay after verification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 6 Obligations and responsibilities
of both parties</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1. Obligations and responsibilities of
the Lessor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1) The Lessor shall not hinder the Lessee&rsquo;s
quiet use, possession or enjoyment of the lease subject within the lease term, but the proper exercise of the rights under this
Contract or related to this Contract by the Lessor will not constitute the prejudice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2) The Lessor shall keep close cooperation
with the Lessee to meet its relevant requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2. Obligations and responsibilities of
the Lessee</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1) Legal and safe operation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Lessee shall:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A. only use the lease subject for legal
purposes; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">B. obtain and maintain all certificates,
licenses, permits and authorization on the use and operation of the lease subject required from time to time and strictly perform
the obligations of making payment and other related obligations under this Contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2) Property rights and interests</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Lessee shall:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A. not conduct or permit to conduct any
thing that can be reasonably foreseeable to make the subject into fine, confiscation, seizure, embezzlement, damage or loss situation;
or.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">B. not set guarantees or other third-party
interests on the lease subject except with the prior written permission of the Lessor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(3) Maintenance and overhaul</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A. The Lessee shall maintain the lease
subject in the similar manner at least and the degree of caution with other similar lease objects owned or operated by it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 7 Liabilities for breach of contract</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1. Lessor&rsquo;s rights and remedy measures
under the default of the Lessee</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If any event of default of the Lessee happens
and continues to exist, the Lessor could take the following remedy measures at any time after the occurrence of the event of default
(without prejudice to any other rights of the Lessor under this Contract).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 8 This Contract is made in duplicate,
one for each party, and shall come into force after being signed and sealed by both parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No text below</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Chongqing Daqo New Energy Co., Ltd.&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/Common Seal/</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Daqo New Material Co., Ltd.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/Common Seal/</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<DOCUMENT>
<TYPE>EX-8.1
<SEQUENCE>13
<FILENAME>v371885_ex8-1.htm
<DESCRIPTION>EXHIBIT 8.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B>Exhibit 8.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>List of Subsidiaries</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 58%; padding-right: 5.4pt; padding-left: 5.4pt"><B>Subsidiaries</B></TD>
    <TD STYLE="width: 42%; padding-right: 5.4pt; padding-left: 5.4pt"><B>Jurisdiction of Incorporation:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.5in">Chongqing Daqo New Energy Co., Ltd.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.5in">People&rsquo;s Republic of China</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.5in">Xinjiang Daqo New Energy Co., Ltd.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.5in">People&rsquo;s Republic of China</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>14
<FILENAME>v371885_ex12-1.htm
<DESCRIPTION>EXHIBIT 12.1
<TEXT>
<HTML>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 12.1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Certification by the Principal Executive
Officer<BR>
Pursuant to Section&nbsp;302 of the Sarbanes-Oxley Act of 2002</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, Gongda Yao, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1.&nbsp;&#9;I have reviewed this annual report on Form&nbsp;20-F
of Daqo New Energy Corp.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2.&nbsp;&#9;Based on my knowledge, this report does not contain
any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3.&nbsp;&#9;Based on my knowledge, the financial statements,
and other financial information included in this report, fairly present in all material respects the financial condition, results
of operations and cash flows of the company as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4.&nbsp;&#9;The company's other certifying officer and I are
responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules&nbsp;13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules&nbsp;13a-15(f) and 15d-15(f)) for
the company and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;&#9;Designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating
to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during
the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;&#9;Designed such internal control over financial reporting,
or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;&#9;Evaluated the effectiveness of the company's disclosure
controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,
as of the end of the period covered by this report based on such evaluation;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;&#9;Disclosed in this report any change in the company's
internal control over financial reporting that occurred during the period covered by the annual report that has materially affected,
or is reasonably likely to materially affect, the company's internal control over financial reporting;&nbsp;and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.&nbsp;&#9;The company's other certifying officer and I have
disclosed, based on our most recent evaluation of internal control over financial reporting, to the company's auditors and the
audit committee of the company's board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;&#9;All significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company's
ability to record, process, summarize and report financial information;&nbsp;and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;&#9;Any fraud, whether or not material, that involves
management or other employees who have a significant role in the company's internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: April&nbsp;14, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Gongda Yao</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:</FONT></TD>
    <TD STYLE="width: 39%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Gongda Yao</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Executive Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>15
<FILENAME>v371885_ex12-2.htm
<DESCRIPTION>EXHIBIT 12.2
<TEXT>
<HTML>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 12.2</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Certification by the Principal Financial
Officer<BR>
Pursuant to Section&nbsp;302 of the Sarbanes-Oxley Act of 2002</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, Bing Sun, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1.&nbsp;&#9;I have reviewed this annual report on Form&nbsp;20-F
of Daqo New Energy Corp.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2.&nbsp;&#9;Based on my knowledge, this report does not contain
any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3.&nbsp;&#9;Based on my knowledge, the financial statements,
and other financial information included in this report, fairly present in all material respects the financial condition, results
of operations and cash flows of the company as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4.&nbsp;&#9;The company's other certifying officer and I are
responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules&nbsp;13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules&nbsp;13a-15(f) and 15d-15(f)) for
the company and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;&#9;Designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating
to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during
the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;&#9;Designed such internal control over financial reporting,
or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&nbsp;&#9;Evaluated the effectiveness of the company's disclosure
controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,
as of the end of the period covered by this report based on such evaluation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;&#9;Disclosed in this report any change in the company's
internal control over financial reporting that occurred during the period covered by the annual report that has materially affected,
or is reasonably likely to materially affect, the company's internal control over financial reporting;&nbsp;and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.&nbsp;&#9;The company's other certifying officer and I have
disclosed, based on our most recent evaluation of internal control over financial reporting, to the company's auditors and the
audit committee of the company's board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;&#9;All significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company's
ability to record, process, summarize and report financial information;&nbsp;and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;&#9;Any fraud, whether or not material, that involves
management or other employees who have a significant role in the company's internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: April&nbsp;14, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify; border-bottom: Black 1pt solid">/s/ <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bing
    Sun</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:</FONT></TD>
    <TD STYLE="width: 39%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bing Sun</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Financial Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>16
<FILENAME>v371885_ex13-1.htm
<DESCRIPTION>EXHIBIT 13.1
<TEXT>
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<HEAD>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 13.1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Certification by the Principal Executive
Officer<BR>
Pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the Annual Report of Daqo New Energy Corp.
(the &quot;Company&quot;) on Form&nbsp;20-F for the year ended December&nbsp;31, 2013 as filed with the Securities and Exchange
Commission on the date hereof (the &quot;Report&quot;),&nbsp;I, Gongda Yao, Chief Executive Officer of the Company, certify, pursuant
to 18&nbsp;U.S.C. Section&nbsp;1350, as adopted pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;&#9;The Report fully complies with the requirements
of Section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934;&nbsp;and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;&#9;The information contained in the Report fairly
presents, in all material respects, the financial condition and results of operations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: April&nbsp;14, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify">/s/ <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Gongda
    Yao</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: </FONT></TD>
    <TD STYLE="width: 39%; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Gongda Yao</FONT></TD>
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Executive Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.2
<SEQUENCE>17
<FILENAME>v371885_ex13-2.htm
<DESCRIPTION>EXHIBIT 13.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 13.2</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Certification by the Principal Financial
Officer<BR>
Pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the Annual Report of Daqo New Energy Corp.
(the &quot;Company&quot;) on Form&nbsp;20-F for the year ended December&nbsp;31, 2013 as filed with the Securities and Exchange
Commission on the date hereof (the &quot;Report&quot;),&nbsp;I,<FONT STYLE="color: red"><B> </B></FONT>Bing Sun, Chief Financial
Officer of the Company, certify, pursuant to 18&nbsp;U.S.C. Section&nbsp;1350, as adopted pursuant to Section&nbsp;906 of the Sarbanes-Oxley
Act of 2002, that to my knowledge:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;&#9;The Report fully complies with the requirements
of Section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934;&nbsp;and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;&#9;The information contained in the Report fairly
presents, in all material respects, the financial condition and results of operations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: April&nbsp;14, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bing
    Sun</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:</FONT></TD>
    <TD STYLE="width: 39%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bing Sun</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Financial Officer</FONT></TD>
    <TD STYLE="padding-bottom: 0"></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>18
<FILENAME>v371885_ex15-1.htm
<DESCRIPTION>EXHIBIT 15.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 15.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the incorporation by reference
in the Registration Statement No. 333-172234 on Form S-8 of our report dated April 14, 2014 relating to the consolidated financial
statements and financial statement schedule of Daqo New Energy Corp. and subsidiaries and variable interest entity (the &ldquo;Company&rdquo;),
appearing in the Annual Report on Form 20-F of the Company for the year ended December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Deloitte Touche Tohmatsu Certified Public Accountants LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Shanghai, China</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">April 14, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>



<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"></P>

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<SEQUENCE>19
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  <dq:IncreaseDecreaseInPrepaidExpensesNoncurrent id="IncreaseDecreaseInPrepaidExpensesNoncurrent.5245.0.0.0.0.0.0" contextRef="from-2011-01-01-to-2011-12-31.5245.0.0.0.0.0.0.0" unitRef="USD" decimals="0">26718866</dq:IncreaseDecreaseInPrepaidExpensesNoncurrent>
  <dq:LesseeLeasingArrangementsOperatingLeasesAnnualPayment id="LesseeLeasingArrangementsOperatingLeasesAnnualPayment.7275.5532.5528.0.0.0.0" contextRef="as-of-2014-04-14.7275.0.5532.5528.0.0.0.0" unitRef="USD" decimals="-6">1000000</dq:LesseeLeasingArrangementsOperatingLeasesAnnualPayment>
  <dq:OtherItemsDisclosureTextBlock id="OtherItemsDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;12. MAINLAND CHINA CONTRIBUTION PLAN AND PROFIT APPROPRIATION&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(a) China Contribution Plan&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Full time employees of the Group in the PRC participate in a government-mandated, multi-employer, defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees. PRC labor regulations require the Group to accrue for these benefits based on a certain percentage of the employees&amp;#39; salaries. Contributions to defined contribution plans are expensed as incurred. During the years ended December&amp;nbsp;31, 2011, 2012 and 2013, the Group recognized $2,189,273, $3,325,383 and $3,142,213 respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(b) Statutory Reserves&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Foreign invested enterprises in PRC are required under PRC laws to provide for certain statutory reserves, such as a general reserve, an enterprise expansion fund and a staff welfare and bonus fund. These entities are required to allocate at least 10% of their after tax profits as reported in their PRC statutory financial statements to the general reserve and have the right to discontinue allocations to the general reserve if the balance of such reserve have reached 50% of their registered capital. These statutory reserves are not available for distribution to the owners (except in liquidation) and may not be transferred in the form of loans, advances or cash dividends. As of December&amp;nbsp;31, 2012 and 2013, $16,803,191 and $16,803,191 was respectively appropriated from the retained earnings of Chongqing Daqo. As a result of these PRC laws and regulations, the Company&amp;#39;s PRC subsidiaries are restricted in their abilities to transfer the registered capital and statutory reserves to the Company in the form of dividends, loans or advances and the restricted portion amounted to $124,814,365 and $124,814,365 as of December&amp;nbsp;31, 2012 and 2013, respectively.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</dq:OtherItemsDisclosureTextBlock>
  <dq:PrepaidLandUseRightsPolicyTextBlock id="PrepaidLandUseRightsPolicyTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(j) Prepaid land use rights&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; All land in the PRC is owned by the PRC government. The PRC government, according to PRC law, may sell the land use rights for a specified period of time. The Group&amp;#39;s land use rights in the PRC are stated at cost less recognized lease expenses. Lease expense is recognized over the term of the agreement on a straight-line basis. The Group recorded lease expenses of $166,355, $958,558 and $ 781,706, for the years ended December&amp;nbsp;31, 2011, 2012 and 2013, respectively.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</dq:PrepaidLandUseRightsPolicyTextBlock>
  <dq:ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock id="ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Property, plant and equipment are recorded at cost less accumulated depreciation. Depreciation is recognized on a straight-line basis over the following estimated useful lives:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.6in" cellspacing="0" cellpadding="0"&gt; &lt;tr&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 82%"&gt; Buildings and plant&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; WIDTH: 18%"&gt; 20&amp;nbsp;years&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"&gt; Machinery and equipment&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 10 years&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"&gt; Furniture, fixtures and equipment&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 3-5&amp;nbsp;years&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"&gt; Motor vehicles&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 6 years&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</dq:ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock>
  <dq:ScheduleOfRelatedPartyBalancesLoansTableTextBlock id="ScheduleOfRelatedPartyBalancesLoansTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The balances due from related parties mainly include the consideration for the transfer of 100% ownership of Nanjing Daqo to Daqo Group amount due from Zhenjiang Daqo for the sales of wafer and polysilicon. Such balances are unsecured, interest-free, and are payable on demand. The balances are as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Amount due from related party&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Zhenjiang Daqo&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;10,744&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;6,898,980&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Daqo Group&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;6,440,129&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;6,465,561&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Others&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 111,614&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 51,911&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 6,562,487&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 13,416,452&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</dq:ScheduleOfRelatedPartyBalancesLoansTableTextBlock>
  <dq:ScheduleOfRelatedPartyBalancesPayablesTableTextBlock id="ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Balances due to related parties related to interest free loans received primarily for working capital purposes from Daqo Solar and Xinjiang Daqo Investment, wholly-owned subsidiaries of Daqo Group. The balances are payable on demand and are as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Amount due to related party&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Daqo Group&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;5,359,007&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;461,796&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Xinjiang Daqo Investment&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;2,354,620&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;18,482,300&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Nanjing Daqo&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,645,923&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,651,810&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Daqo Solar&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;13,497,973&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;66,750,009&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Others&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 850,840&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,191,875&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 23,708,363&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 88,537,790&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</dq:ScheduleOfRelatedPartyBalancesPayablesTableTextBlock>
  <dq:ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified id="ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified.5344.1806.359.40376.5328.0.0" contextRef="from-2012-01-08-to-2012-01-09.5344.0.1806.359.40376.5328.0.0" unitRef="shares" decimals="0">6520000</dq:ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified>
  <dq:ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified id="ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified.6838.1806.359.40376.5328.0.0" contextRef="from-2013-04-01-to-2013-04-03.6838.0.1806.359.40376.5328.0.0" unitRef="shares" decimals="INF">6796975</dq:ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified>
  <dq:SubsidiesPayableCurrent id="SubsidiesPayableCurrent.5239.0.0.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.0.0.0.0.0.0" unitRef="USD" decimals="0">908496</dq:SubsidiesPayableCurrent>
  <dq:SubsidiesPayableCurrent id="SubsidiesPayableCurrent.5240.0.0.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.0.0.0.0.0.0" unitRef="USD" decimals="0">882640</dq:SubsidiesPayableCurrent>
  <dq:SupplementalCashFlowInformationDivestituresConsiderationReceived id="SupplementalCashFlowInformationDivestituresConsiderationReceived.5243.3923.136.0.0.0.0" xsi:nil="true" contextRef="from-2013-01-01-to-2013-12-31.5243.0.3923.136.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <dq:SupplementalCashFlowInformationDivestituresConsiderationReceived id="SupplementalCashFlowInformationDivestituresConsiderationReceived.5244.3923.136.0.0.0.0" contextRef="from-2012-01-01-to-2012-12-31.5244.0.3923.136.0.0.0.0" unitRef="USD" decimals="0">9888742</dq:SupplementalCashFlowInformationDivestituresConsiderationReceived>
  <dq:SupplementalCashFlowInformationDivestituresConsiderationReceived id="SupplementalCashFlowInformationDivestituresConsiderationReceived.5245.3923.136.0.0.0.0" xsi:nil="true" contextRef="from-2011-01-01-to-2011-12-31.5245.0.3923.136.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <dq:SupplementalCashFlowInformationDivestituresConsiderationReceived id="SupplementalCashFlowInformationDivestituresConsiderationReceived.5243.40346.2657.0.0.0.0" xsi:nil="true" contextRef="from-2013-01-01-to-2013-12-31.5243.0.40346.2657.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <dq:SupplementalCashFlowInformationDivestituresConsiderationReceived id="SupplementalCashFlowInformationDivestituresConsiderationReceived.5244.40346.2657.0.0.0.0" contextRef="from-2012-01-01-to-2012-12-31.5244.0.40346.2657.0.0.0.0" unitRef="USD" decimals="0">9888742</dq:SupplementalCashFlowInformationDivestituresConsiderationReceived>
  <dq:SupplementalCashFlowInformationDivestituresConsiderationReceived id="SupplementalCashFlowInformationDivestituresConsiderationReceived.5245.40346.2657.0.0.0.0" xsi:nil="true" contextRef="from-2011-01-01-to-2011-12-31.5245.0.40346.2657.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <dq:SupplementalNonCashInvestingActivities id="SupplementalNonCashInvestingActivities.5243.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <dq:SupplementalNonCashInvestingActivities id="SupplementalNonCashInvestingActivities.5244.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2012-01-01-to-2012-12-31.5244.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <dq:SupplementalNonCashInvestingActivities id="SupplementalNonCashInvestingActivities.5245.0.0.0.0.0.0" contextRef="from-2011-01-01-to-2011-12-31.5245.0.0.0.0.0.0.0" unitRef="USD" decimals="0">11729514</dq:SupplementalNonCashInvestingActivities>
  <dq:UnrestrictedCashSubsidies id="UnrestrictedCashSubsidies.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0" unitRef="USD" decimals="0">5249788</dq:UnrestrictedCashSubsidies>
  <dq:UnrestrictedCashSubsidies id="UnrestrictedCashSubsidies.5244.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-12-31.5244.0.0.0.0.0.0.0" unitRef="USD" decimals="0">9250296</dq:UnrestrictedCashSubsidies>
  <dq:UnrestrictedCashSubsidies id="UnrestrictedCashSubsidies.5245.0.0.0.0.0.0" contextRef="from-2011-01-01-to-2011-12-31.5245.0.0.0.0.0.0.0" unitRef="USD" decimals="0">11484768</dq:UnrestrictedCashSubsidies>
  <dq:VariableInterestEntityDisclosureTextBlock id="VariableInterestEntityDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;18. VARIABLE INTEREST ENTITY&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The equity interests in Daqo New Material, the VIE, are funded by Daqo Group. Daqo New Material was structured to acquire land use rights and to erect certain facilities for the future use of the Group.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The lease agreement with the VIE is structured such that Chongqing Daqo protect Daqo Group from potential losses from Daqo New Material. As a result of this agreement, Chongqing Daqo is the primary beneficiary of Daqo New Material. Lease income and expenses and associated receivables and payables are eliminated upon consolidation as intercompany transactions. Net income of the VIE is reflected as an adjustment to noncontrolling interest. The Company relies on the lease agreements with Daqo New Material for material property, plant and equipment necessary for production. If Daqo New Material fails to perform or terminates the lease agreement for any reason, including, for example, due to its breach of the agreement or the unavailability of any required governmental approvals, or if it refuses to extend or renew the lease agreement when the agreement expires, and the Company cannot find an immediately available alternative source for leasing similar property, plant and equipment, then the Company&amp;#39;s ability to carry on the operations will be impaired. If Daqo New Material fails to perform its obligations, the Company may need to initiate legal procedures to enforce the agreement.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; On December 31, 2013, Chongqing Daqo and Daqo New Material terminated this lease agreement. As a result of the change, Chongqing Daqo no longer has the power to direct the activities that most significantly impact Daqo New Material&amp;#39;s operations, and as such Chongqing Daqo ceased to be the primary beneficiary of Daqo New Material and deconsolidated the entity on the date the lease arrangement was terminated, December 30, 2013. No gain or loss was recorded on termination of VIE arrangement. After deconsolidation, Daqo New Material remains a related party of the Group. On January 1, 2014, Chongqing Daqo signed a new operating lease agreement with Daqo New Material with respect to certain limited facilities, including the dining hall, office space and portions of the employee dormitory which it uses for its wafer business located nearby. The term of the lease is three years and the annual rental for these facilities is approximately $1 million.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Daqo New Material leased all of its assets for use in the Group&amp;#39;s operations. Significant assets, liabilities, revenues, operating costs and expenses and net income of the VIE are as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 74%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Cash&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;189,312&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Property, plant and equipment&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;162,396,825&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Prepaid land use rights&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;6,632,643&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total Assets&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;173,450,176&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Short-term borrowings, including current portion of long-term borrowings&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;19,257,600&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Accrued expenses and other current liabilities&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;512,708&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Amount due to related party&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;467,568&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt;Long-term borrowings&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;14,443,200&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total Liabilities&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;34,678,046&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 61%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Revenues*&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;16,852,928&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;10,743,336&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;**&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Operating costs and expenses&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;15,262,768&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;14,451,810&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;150,147,024&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Net income (loss)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,590,160&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(3,708,474&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(150,147,024&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; *Rental income, eliminated in consolidation.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; ** The lease term was amended at the beginning of 2013 and reduced the rent to 0 per month and was later terminated on December 30, 2013.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</dq:VariableInterestEntityDisclosureTextBlock>
  <dq:VestingInstallmentsDuringVestingPeriod id="VestingInstallmentsDuringVestingPeriod.5344.1806.359.40376.5328.0.0" contextRef="from-2012-01-08-to-2012-01-09.5344.0.1806.359.40376.5328.0.0" unitRef="items" decimals="INF">36</dq:VestingInstallmentsDuringVestingPeriod>
  <dq:WorkingCapital id="WorkingCapital.5239.0.0.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.0.0.0.0.0.0" unitRef="USD" decimals="0">-207979447</dq:WorkingCapital>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock id="AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;9. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Accrued expenses and other current liabilities consist of the following:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left"&gt;Accrued payroll and welfare&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;2,526,701&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;2,588,312&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Accrued professional fees&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;700,000&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;624,825&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Other tax payable&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,830,815&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,378,963&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Interest payable&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;612,968&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;305,087&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Government subsidy&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;882,640&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;908,496&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;Others&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,064,331&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,655,938&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 7,617,455&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 7,461,621&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
  <us-gaap:AccountsPayableCurrent id="AccountsPayableCurrent.5239.0.0.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.0.0.0.0.0.0" unitRef="USD" decimals="0">17695490</us-gaap:AccountsPayableCurrent>
  <us-gaap:AccountsPayableCurrent id="AccountsPayableCurrent.5240.0.0.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.0.0.0.0.0.0" unitRef="USD" decimals="0">12346063</us-gaap:AccountsPayableCurrent>
  <us-gaap:AccountsPayableFairValueDisclosure id="AccountsPayableFairValueDisclosure.5239.905.2043.0.0.0.0" xsi:nil="true" contextRef="as-of-2013-12-31.5239.0.905.2043.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:AccountsPayableFairValueDisclosure id="AccountsPayableFairValueDisclosure.5240.905.2043.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.905.2043.0.0.0.0" unitRef="USD" decimals="0">1126255</us-gaap:AccountsPayableFairValueDisclosure>
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  <us-gaap:AccountsPayableFairValueDisclosure id="AccountsPayableFairValueDisclosure.5240.1901.2043.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.1901.2043.0.0.0.0" unitRef="USD" decimals="0">1014716</us-gaap:AccountsPayableFairValueDisclosure>
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  <us-gaap:AccountsReceivableNetCurrent id="AccountsReceivableNetCurrent.5240.40318.3316.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.40318.3316.0.0.0.0" unitRef="USD" decimals="0">12529889</us-gaap:AccountsReceivableNetCurrent>
  <us-gaap:AccountsReceivableNetCurrent id="AccountsReceivableNetCurrent.5239.40311.3316.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.40311.3316.0.0.0.0" unitRef="USD" decimals="0">1225831</us-gaap:AccountsReceivableNetCurrent>
  <us-gaap:AccountsReceivableNetCurrent id="AccountsReceivableNetCurrent.5240.40311.3316.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.40311.3316.0.0.0.0" unitRef="USD" decimals="0">3568910</us-gaap:AccountsReceivableNetCurrent>
  <us-gaap:AccountsReceivableNetCurrent id="AccountsReceivableNetCurrent.5239.40312.3316.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.40312.3316.0.0.0.0" unitRef="USD" decimals="0">3673455</us-gaap:AccountsReceivableNetCurrent>
  <us-gaap:AccountsReceivableNetCurrent id="AccountsReceivableNetCurrent.5240.40312.3316.0.0.0.0" xsi:nil="true" contextRef="as-of-2012-12-31.5240.0.40312.3316.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:AccountsReceivableNetCurrent id="AccountsReceivableNetCurrent.5239.40352.3316.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.40352.3316.0.0.0.0" unitRef="USD" decimals="0">1507576</us-gaap:AccountsReceivableNetCurrent>
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  <us-gaap:AccrualForTaxesOtherThanIncomeTaxesCurrent id="AccrualForTaxesOtherThanIncomeTaxesCurrent.5239.0.0.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.0.0.0.0.0.0" unitRef="USD" decimals="0">1378963</us-gaap:AccrualForTaxesOtherThanIncomeTaxesCurrent>
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  <us-gaap:AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock id="AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Analysis of allowances for accounts receivable is as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 55%; TEXT-ALIGN: left"&gt;Beginning of the year&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;1,202,940&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;1,592,467&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Allowances made during the year&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,202,940&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;359,733&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;5,482,019&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Foreign exchange effect&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 29,794&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 86,296&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Closing balance&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1,202,940&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1,592,467&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 7,160,782&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock>
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  <us-gaap:BasisOfAccountingPolicyPolicyTextBlock id="BasisOfAccountingPolicyPolicyTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(a) Basis of presentation&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The consolidated financial statements of the Group have been prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP").&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The realization of assets and the satisfaction of liabilities in the normal course of business are dependent on, among other things, the Company&amp;#39;s ability to generate cash flows from operations, and the Company&amp;#39;s ability to arrange adequate financing arrangements, including the renewal or rollover of its bank borrowings, to support its working capital requirements.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The following factors raise substantial doubt about the Company&amp;#39;s ability to continue as a going concern for the foreseeable future.&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;The solar industry is being negatively impacted by a number of factors including excess capacity, reduction of government incentives in key solar markets and higher import tariffs. These factors have contributed to declining average selling prices for our products. The average selling price ("ASP") of polysilicon has fallen from about $60 per kilogram ("kg") in 2010 to $18 per kg in 2013.&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;For the year ended December 31, 2013, the Company incurred an operating loss of $200,631,180.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;During the year December 31, 2013, the Company experienced negative cash flow from operations of $16,525,818, primarily as a result of the net loss incurred by the Company.&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;As of December 31, 2013, the Company&amp;#39;s current liabilities exceed its current assets by $207,979,447. While the Company had cash and cash equivalents of $7,831,084, it had short-term borrowings of $68,821,014 all due within one year and the current portion of long-term borrowings amounting to $50,049,843, which is restricted to purchase fixed assets and not expected to be renewed.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; These factors are mitigated by the following actions and plans:&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;On March 30, 2014, the Company obtained an irrevocable, legally enforceable letter of financial support from Daqo Group which has committed to provide sufficient financial support to the Company to ensure the Company has the funds required to satisfy its obligations as they come due in the normal course during the year ending December 31, 2014. Further, the support letter provides that Daqo Group will not require the Company to pay the amount owed to the Daqo Group and subsidiaries of Daqo Group, Daqo Solar and Xinjiang Daqo Investment as of December 31, 2013, before January 1, 2015.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;The Company has or in the process of taking a number of cost reduction initiatives. For example, the Company has constructed its phase II production facilities in Xinjiang and began commercial production in January 2013. The cash cost to produce polysilicon at the Xinjiang facilities is approximately $11 per kg, which is significantly lower than current ASPs&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;The Company has performed a review of its cash flow forecast for the twelve months ending December 31, 2014. The Company believes that its operating cash flow will improve significantly in 2014 and that its operating cash flow will be positive. While management believes the forecast is based on reasonable assumptions, significant assumptions of this forecast include: the ASP is estimated to be approximately $22 per kilogram for the year ending December 31, 2014 and the unit cash cost of Xinjiang will be approximately $11 per kilogram for the year ending December 31, 2014 as a result of the low electricity cost and certain technology improvements. The preliminary results for the first quarter of 2014 shows an increase in the ASP, which increased to $21 per kilogram as of March 31, 2014. This trend is consistent with the Company&amp;#39;s expectation. As of December 31, 2013, the Company has a plan to expand the capacity at the Xinjiang plant and is in the process of relocating significant production assets from Chongqing Daqo to its Xinjiang plant, completion of which is subject to obtaining additional funding.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;While there can be no assurance that the Company will be able to refinance its short-term bank borrowings as they become due, historically, the Company has renewed or rolled over most of its short-term bank loans upon the maturity date of the loans and believes it will continue to be able to do so. From January 1, 2014 to April 14, 2014, the Company rolled over a short-term bank borrowing of $11.2 million and a bank acceptance note credit facility of $4.8 million.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 59pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Based on the above factors, management believes that adequate sources of liquidity will exist to fund the Company&amp;#39;s working capital and capital expenditures requirements, and to meet its short term debt obligations, other liabilities and commitments as they become due.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:BasisOfAccountingPolicyPolicyTextBlock>
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  <us-gaap:CashAndCashEquivalentsPolicyTextBlock id="CashAndCashEquivalentsPolicyTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(e) Cash and cash equivalents&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Cash and cash equivalents consist of cash on hand and demand deposits, which are unrestricted as to withdrawal and use, and which have maturities of three months or less when purchased.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
  <us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy id="CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(f) Restricted cash&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Restricted cash amounted to $10,649,745 and $8,826,110 as of December&amp;nbsp;31, 2012 and 2013, respectively, and are deposited in bank accounts as deposits for short-term letters of credit and notes issued by several banks for purchases of raw materials, plant and equipment. These deposits carry fixed interest rates and will be released when the related letters of credit or notes are settled by the Group. The Group considers the restricted cash balances as equivalent to an investment whose return of principal requires the satisfaction of conditions (i.e., settlement of letters of credit or notes) rather than a withdrawal demand. Therefore, deposits and withdrawals of principal balances in restricted cash accounts represent the creation or return of investment and, accordingly, the Group has presented such deposits and withdrawals as investing activities in the consolidated statements of cash flows.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy>
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  <us-gaap:CommitmentsAndContingencies id="CommitmentsAndContingencies.5239.0.0.0.0.0.0" xsi:nil="true" contextRef="as-of-2013-12-31.5239.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
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  <us-gaap:CommitmentsDisclosureTextBlock id="CommitmentsDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;17. COMMITMENTS&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;Capital commitments&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; As of December&amp;nbsp;31, 2013, commitments outstanding for the purchase of property, plant and equipment approximated $36.7 million, which will be due subsequent to receipt of the purchases.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;Lease commitments&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group has operating lease commitments principally for its office in Shanghai. The lease expense was $612,856, $580,724 and $164,811 for the year ended December&amp;nbsp;31, 2011, 2012 and 2013, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Future minimum lease payments are as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 1in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="TEXT-ALIGN: left" nowrap="nowrap"&gt;Year ending December&amp;nbsp;31&lt;/td&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;USD&lt;/td&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 80%; TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"&gt; 2014&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 17%; TEXT-ALIGN: right"&gt;1,121,476&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"&gt; 2015&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,073,299&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"&gt; 2016&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,073,299&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 3,268,074&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:CommitmentsDisclosureTextBlock>
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  <us-gaap:ComprehensiveIncomePolicyPolicyTextBlock id="ComprehensiveIncomePolicyPolicyTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(u) Comprehensive income (loss)&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Our financial statements include the Consolidated Statements of Comprehensive Income (Loss) as required by new accounting guidance, which we early adopted during 2010. As of December 31, 2012 and 2013, Accumulated Other Comprehensive Income was comprised entirely of foreign currency translation adjustments.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ComprehensiveIncomePolicyPolicyTextBlock>
  <us-gaap:ConcentrationRiskCreditRisk id="ConcentrationRiskCreditRisk.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(d) Concentration of credit risk&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivables.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group places its cash and cash equivalents in various financial institutions in the PRC. The Group believes that no significant credit risk exists as these banks are principally government-owned financial institutions with high credit ratings.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Accounts receivable represent those receivables derived in the ordinary course of business. The Group conducts credit evaluations of customers to whom credit terms are extended. The Group establishes an allowance for doubtful accounts mainly based on aging of the receivables and other factors surrounding the credit risk of specific customers. The allowance for doubtful accounts is $1,592,467 and $7,160,782 as of December&amp;nbsp;31, 2012 and 2013, respectively, based on the aging of the receivables and the Company&amp;#39;s assessment of the customers&amp;#39; credit risk.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The following customers accounted for 10% or more of accounts receivable:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="6"&gt;&lt;strong&gt;December&amp;nbsp;31,&lt;/strong&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt; &lt;p style="BORDER-BOTTOM: black 0.75pt solid; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Accounts&lt;br /&gt; receivable&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="2"&gt;&lt;strong&gt;2012&lt;/strong&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="2"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"&gt; Customer A&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 12,529,889&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; *&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="BACKGROUND-COLOR: white"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"&gt; Customer D&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right"&gt; 3,568,910&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right"&gt;&lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;3,673,455&lt;/font&gt; &lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"&gt; Customer C&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; *&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 1,225,831&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="BACKGROUND-COLOR: white"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"&gt; Customer K&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; -&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 1,507,576&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;!-- Field: Rule-Page --&gt; &lt;div style="BORDER-TOP: black 1pt solid; FONT-SIZE: 1pt; MARGIN-BOTTOM: 1pt; MARGIN-TOP: 3pt; text-align: left; WIDTH: 20%"&gt; &amp;nbsp;&lt;/div&gt; &lt;!-- Field: /Rule-Page --&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; *&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 97%"&gt; Represents less than 10%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Sales of polysilicon to the Group&amp;#39;s largest customers whose sales constitute over 10% of revenue accounted for approximately 50%, 25% and 30% of revenues for the years ended December&amp;nbsp;31, 2011, 2012 and 2013, respectively. The Group was substantially dependent upon the continued participation of these customers in order to maintain its total revenues. Significantly reducing the Group&amp;#39;s dependence on these customers is likely to take time and there can be no guarantee that the Group will succeed in reducing that dependence.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Furthermore, all of the Company&amp;#39;s long-term borrowings are guaranteed by Daqo Group, our related party, who has also committed to provide financial support to meet the Company&amp;#39;s short term borrowings obligations, other liabilities and commitments as they become due (see Note 2(a)). The Company&amp;#39;s access to credit is significantly reliant on Daqo Group&amp;#39;s ability and willingness to continue to provide sufficient financial support.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ConcentrationRiskCreditRisk>
  <us-gaap:ConcentrationRiskPercentage1 id="ConcentrationRiskPercentage1.5243.4742.1143.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.4742.1143.0.0.0.0" unitRef="pure" decimals="1">0.3</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:ConcentrationRiskPercentage1 id="ConcentrationRiskPercentage1.5244.4742.1143.0.0.0.0" contextRef="from-2012-01-01-to-2012-12-31.5244.0.4742.1143.0.0.0.0" unitRef="pure" decimals="2">0.25</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:ConcentrationRiskPercentage1 id="ConcentrationRiskPercentage1.5245.4742.1143.0.0.0.0" contextRef="from-2011-01-01-to-2011-12-31.5245.0.4742.1143.0.0.0.0" unitRef="pure" decimals="1">0.5</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock id="CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;FINANCIAL STATEMENT SCHEDULE I&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;DAQO NEW ENERGY CORP.&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;FINANCIAL INFORMATION OF PARENT COMPANY&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;BALANCE SHEET&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;DECEMBER 31, 2012 AND 2013&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;(In U.S. dollars, except share data)&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold"&gt;ASSETS&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;CURRENT ASSETS&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 74%; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;5,669,834&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;5,187,046&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt;Prepaid expenses and other current assets&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;593,707&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;177,487&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt; Amount due from related party&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 5,110,085&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 5,110,085&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Total current assets&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;11,373,626&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;10,474,618&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt; Investments in subsidiaries, net&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 190,945,888&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 127,203,565&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; TOTAL ASSETS&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 202,319,514&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 137,678,183&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 2.25pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 2.25pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 2.25pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt;LIABILITIES AND SHAREHOLDERS&amp;#39; EQUITY&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;CURRENT LIABILITIES&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt; Accrued expenses and other current liabilities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 214,231&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 351,621&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Total current liabilities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 214,231&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 351,621&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;EQUITY&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-LEFT: 0.35in; TEXT-INDENT: -0.1in"&gt;Ordinary shares ($0.0001 per value 500,000,000 shares authorized as of December 31, 2012 and 2013; 175,714,103 and 175,714,103 shares issued as of December 31, 2012 and 2013, respectively and 172,877,433 and 173,427,853 shares outstanding as of December 31, 2012 and 2013, respectively)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;17,288&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;17,343&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt;Additional paid in capital&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;144,755,902&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;146,676,163&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt;Retained earnings (accumulated losses)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;38,276,015&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(32,667,469&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt;Accumulated other comprehensive income&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;19,551,006&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;23,699,196&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt; Treasury stock&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (494,928&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (398,672&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Total shareholders&amp;#39; equity&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 202,105,283&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 137,326,561&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; TOTAL LIABILITIES AND EQUITY&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 202,319,514&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 137,678,183&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;FINANCIAL STATEMENT SCHEDULE I&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;DAQO NEW ENERGY CORP.&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;FINANCIAL INFORMATION OF PARENT COMPANY&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;FOR THE YEARS ENDED DECEMBER 31, 2011, 2012 AND 2013&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;(In U.S. dollars)&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;OPERATING EXPENSES&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="WIDTH: 61%; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt; General and administrative&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;(2,355,174&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;(3,528,728&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;(2,979,454&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt; Research and development&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (75,508&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (175,242&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (76,646&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-LEFT: 0.25in"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt; Total operating expenses&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (2,430,682&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (3,703,970&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (3,056,100&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;LOSS FROM OPERATION&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(2,430,682&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(3,703,970&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(3,056,100&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt; Interest income&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 24,852&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 3,074&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 3,130&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;NET LOSS BEFORE SHARE OF RESULTS OF SUBSIDIARIES&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(2,405,830&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(3,700,896&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(3,052,970&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt; &lt;p style="MARGIN: 0pt 0px"&gt;Equity in earnings (losses) of subsidiaries&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 35,729,782&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; (108,228,045&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; (67,890,514&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"&gt; Net income (loss) attributable to Daqo New Energy Corporation ordinary shareholders&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 33,323,952&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (111,928,941&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (70,943,484&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Other comprehensive income:&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Foreign currency translation adjustments&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 12,167,255&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 2,206,182&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 4,148,190&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Total other comprehensive income&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 12,167,255&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 2,206,182&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 4,148,190&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;Comprehensive income (loss)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 45,491,207&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; (109,722,759&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; (66,795,294&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;FINANCIAL STATEMENT SCHEDULE I&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;DAQO NEW ENERGY CORP.&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;FINANCIAL INFORMATION OF PARENT COMPANY&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;STATEMENT OF CHANGES IN EQUITY&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;FOR YEARS ENDED DECEMBER 31, 2011, 2012 AND 2013&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;(In U.S. dollars, except share data)&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;Ordinary shares&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Treasury Stock&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Additional&lt;br /&gt; paid in capital&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Retained&lt;br /&gt; earnings (accumulated&lt;br /&gt; losses)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Accumulated&lt;br /&gt; other&lt;br /&gt; comprehensive&lt;br /&gt; income&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Number&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;$&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; WIDTH: 23%"&gt;Balance at January&amp;nbsp;1, 2011&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 8%"&gt; 175,714,103&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 8%"&gt; 17,571&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 8%"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 8%"&gt; 140,305,556&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 8%"&gt; 116,881,004&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 8%"&gt; 6,276,868&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 8%"&gt; 263,480,999&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Net income&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;33,323,952&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;33,323,952&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Other comprehensive income&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;12,167,255&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;12,167,255&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 1pt"&gt;Share-based compensation&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 2,206,025&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 2,206,025&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Balance at December&amp;nbsp;31, 2011&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;175,714,103&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;17,571&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;142,511,581&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;150,204,956&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;18,444,123&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;311,178,231&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Net loss&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;(111,928,941&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;(111,928,941&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Other comprehensive income&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;2,206,182&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;2,206,182&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Share-based compensation&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;2,249,834&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;2,249,834&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Repurchase&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;(2,836,670&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;(283&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;(494,928&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;(5,513&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;(500,724&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt; Deconsolidation of Nanjing Daqo New Energy Co.,Ltd&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; (1,099,299&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; (1,099,299&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Balance at December&amp;nbsp;31, 2012&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;172,877,433&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;17,288&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;(494,928&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;144,755,902&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;38,276,015&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;19,551,006&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;202,105,283&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Net loss&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;(70,943,484&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;(70,943,484&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Other comprehensive income&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;4,148,190&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;4,148,190&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Share-based compensation&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;1,881,401&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;1,881,401&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Option Exercised&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;550,420&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;55&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;96,256&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;38,860&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;135,171&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 1pt"&gt;Deconsolidation of VIE&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt"&gt;Balance at December&amp;nbsp;31, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 173,427,853&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 17,343&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; (398,672&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 146,676,163&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; (32,667,469&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 23,699,196&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 137,326,561&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;FINANCIAL STATEMENT SCHEDULE I&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;DAQO NEW ENERGY CORP.&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;FINANCIAL INFORMATION OF PARENT COMPANY&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;STATEMENT OF CASH FLOWS&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;FOR THE YEARS ENDED DECEMBER 31, 2011, 2012 AND 2013&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;(In U.S. dollars)&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;OPERATING ACTIVITIES&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="WIDTH: 61%; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt;Net income (loss)&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;33,323,952&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;(111,928,941&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;(70,943,484&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-LEFT: 0.25in"&gt;Share of results of subsidiaries&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(35,729,782&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;108,228,045&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;67,890,514&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-LEFT: 0.25in"&gt;Share-based compensation&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;2,206,025&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;2,249,834&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,881,401&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.35in; TEXT-INDENT: -0.1in"&gt; Adjustments to reconcile net income to net cash used in operating activities:&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.5in"&gt;Prepaid expenses and other current assets&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(142,001&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;))&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(31,207&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;344,717&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.5in"&gt;Changes in other current liabilities&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(916,531&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;214,231&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;137,390&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.5in"&gt; Amount due from related party&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (210,523&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Net cash used in operating activities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (1,258,337&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (1,478,561&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (689,462&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;INVESTING ACTIVITIES&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt;Capital contributed to subsidiaries&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(37,990,278&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(4,811,175&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt;Cash collected from subsidiaries when liquidation&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;4,390,250&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;71,503&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt; Disposition of Nanjing Daqo&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 4,778,657&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Cash used in investing activities&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(37,827,297&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;4,357,732&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;71,503&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;FINANCING ACTIVITIES&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-LEFT: 0.25in"&gt;Repurchase of ordinary shares&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(500,724&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 0.25in"&gt;Issuance cost of ordinary shares&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 135,171&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Cash provided by financing activities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (500,724&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 135,171&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;NET INCREASE IN CASH AND CASH EQUIVALENTS&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(39,085,634&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;2,378,447&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(482,788&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"&gt; CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 42,377,021&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 3,291,387&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 5,669,834&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;CASH AND CASH EQUIVALENTS AT END OF PERIOD&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 3,291,387&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 5,669,834&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 5,187,046&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt;Supplemental disclosure of cash flow information:&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt;Disposition of Nanjing Daqo:&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt;Total consideration&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;9,888,742&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt; Less: amount due from Daqo Group&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (5,110,085&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt; Total cash consideration received&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 4,778,657&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;FINANCIAL STATEMENT SCHEDULE I&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;DAQO NEW ENERGY CORP.&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Notes to Schedule I&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0px"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 0.4in"&gt;1.&lt;/td&gt; &lt;td style="TEXT-ALIGN: justify"&gt;Schedule I has been provided pursuant to the requirements of Rule 12-04(a) and 5-04(c) of Regulation S-X, which require condensed financial information as to the financial position, changes in financial position and results of operations of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.4in; TEXT-INDENT: -0.4in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0px"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 0.4in"&gt;2.&lt;/td&gt; &lt;td style="TEXT-ALIGN: justify"&gt;The condensed financial information of Daqo New Energy Corp has been prepared using the same accounting policies as set out in the accompanying consolidated financial statements except that the equity method has been used to account for investments in its subsidiaries.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.4in; TEXT-INDENT: -0.4in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0px"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 0.4in"&gt;3.&lt;/td&gt; &lt;td style="TEXT-ALIGN: justify"&gt;Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The footnote disclosures contain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the Consolidated Financial Statements of the Company.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.4in; TEXT-INDENT: -0.4in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0px"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 0.4in"&gt;4.&lt;/td&gt; &lt;td style="TEXT-ALIGN: justify"&gt;As of December&amp;nbsp;31, 2013, there were no material contingencies, significant provisions of long-term obligations, mandatory dividend or redemption requirements of redeemable stocks or guarantees of the Company, except for those which have been separately disclosed in the Consolidated Financial Statement, if any.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock>
  <us-gaap:ConsolidationPolicyTextBlock id="ConsolidationPolicyTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(b) Basis of consolidation&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The consolidated financial statements include the financial statements of the Group. All intercompany transactions and balances have been eliminated on consolidation.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ConsolidationPolicyTextBlock>
  <us-gaap:ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy id="ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(x) Noncontrolling interest&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The noncontrolling interest represents Daqo Group&amp;#39;s equity interest in Daqo New Material. The Group classified the ownership interest in the consolidated entity held by a party other than the Company to noncontrolling interest in the consolidated financial statements. It also reported the consolidated net income at amounts that include the amounts attributable to both the parent and the noncontrolling interest on the face of the consolidated statements of operations and comprehensive income. On December 31, 2013, Daqo New Material was deconsolidated, therefore the noncontrolling interest was $nil as of December 31, 2013.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy>
  <us-gaap:ConsolidationVariableInterestEntityPolicy id="ConsolidationVariableInterestEntityPolicy.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(w) Variable Interest Entity&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Company uses a qualitative approach in assessing the consolidation requirement for variable interest entities. The approach focuses on identifying which enterprise has the power to direct the activities that most significantly impact the variable interest entity&amp;#39;s economic performance and which enterprise has the obligation to absorb losses or the right to receive benefits from the variable interest entity. In the event that the Company is the primary beneficiary of a variable interest entity, the assets, liabilities, and results of operations of the variable interest entity will be included in the Company&amp;#39;s Consolidated Financial Statements.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ConsolidationVariableInterestEntityPolicy>
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  <us-gaap:CostOfRevenue id="CostOfRevenue.5245.3700.1161.40363.5172.0.0" contextRef="from-2011-01-01-to-2011-12-31.5245.0.3700.1161.40363.5172.0.0" unitRef="USD" decimals="0">125962033</us-gaap:CostOfRevenue>
  <us-gaap:CostOfRevenue id="CostOfRevenue.5243.3700.1161.40401.5172.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.3700.1161.40401.5172.0.0" unitRef="USD" decimals="0">49614921</us-gaap:CostOfRevenue>
  <us-gaap:CostOfRevenue id="CostOfRevenue.5244.3700.1161.40401.5172.0.0" contextRef="from-2012-01-01-to-2012-12-31.5244.0.3700.1161.40401.5172.0.0" unitRef="USD" decimals="0">20114680</us-gaap:CostOfRevenue>
  <us-gaap:CostOfRevenue id="CostOfRevenue.5245.3700.1161.40401.5172.0.0" contextRef="from-2011-01-01-to-2011-12-31.5245.0.3700.1161.40401.5172.0.0" unitRef="USD" decimals="0">20680565</us-gaap:CostOfRevenue>
  <us-gaap:CostOfSalesPolicyTextBlock id="CostOfSalesPolicyTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(m) Cost of revenues&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Cost of revenues consists of production related costs including costs of silicon raw materials, electricity and other utilities, consumables, direct labor, overhead costs, depreciation of property, plant and equipment, and manufacturing waste treatment processing fees.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:CostOfSalesPolicyTextBlock>
  <us-gaap:CurrentIncomeTaxExpenseBenefit id="CurrentIncomeTaxExpenseBenefit.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0" unitRef="USD" decimals="0">-162621</us-gaap:CurrentIncomeTaxExpenseBenefit>
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  <us-gaap:CurrentIncomeTaxExpenseBenefit id="CurrentIncomeTaxExpenseBenefit.5245.0.0.0.0.0.0" contextRef="from-2011-01-01-to-2011-12-31.5245.0.0.0.0.0.0.0" unitRef="USD" decimals="0">20647400</us-gaap:CurrentIncomeTaxExpenseBenefit>
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  <us-gaap:CustomerAdvancesAndDeposits id="CustomerAdvancesAndDeposits.5240.0.0.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.0.0.0.0.0.0" unitRef="USD" decimals="0">29396238</us-gaap:CustomerAdvancesAndDeposits>
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  <us-gaap:CustomerAdvancesAndDeposits id="CustomerAdvancesAndDeposits.5240.40314.3316.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.40314.3316.0.0.0.0" unitRef="USD" decimals="0">1532632</us-gaap:CustomerAdvancesAndDeposits>
  <us-gaap:CustomerAdvancesAndDeposits id="CustomerAdvancesAndDeposits.5239.40358.3316.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.40358.3316.0.0.0.0" unitRef="USD" decimals="0">1937418</us-gaap:CustomerAdvancesAndDeposits>
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  <us-gaap:CustomerAdvancesAndDeposits id="CustomerAdvancesAndDeposits.5239.40312.3316.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.40312.3316.0.0.0.0" unitRef="USD" decimals="0">15987573</us-gaap:CustomerAdvancesAndDeposits>
  <us-gaap:CustomerAdvancesAndDeposits id="CustomerAdvancesAndDeposits.5240.40312.3316.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.40312.3316.0.0.0.0" unitRef="USD" decimals="0">15532572</us-gaap:CustomerAdvancesAndDeposits>
  <us-gaap:CustomerAdvancesAndDeposits id="CustomerAdvancesAndDeposits.5239.46085.3316.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.46085.3316.0.0.0.0" unitRef="USD" decimals="0">4220355</us-gaap:CustomerAdvancesAndDeposits>
  <us-gaap:CustomerAdvancesAndDeposits id="CustomerAdvancesAndDeposits.5240.46085.3316.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.46085.3316.0.0.0.0" unitRef="USD" decimals="0">6852496</us-gaap:CustomerAdvancesAndDeposits>
  <us-gaap:CustomerAdvancesAndDeposits id="CustomerAdvancesAndDeposits.5239.40315.3316.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.40315.3316.0.0.0.0" unitRef="USD" decimals="0">2996550</us-gaap:CustomerAdvancesAndDeposits>
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  <us-gaap:CustomerAdvancesCurrent id="CustomerAdvancesCurrent.5239.0.0.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.0.0.0.0.0.0" unitRef="USD" decimals="0">13217775</us-gaap:CustomerAdvancesCurrent>
  <us-gaap:CustomerAdvancesCurrent id="CustomerAdvancesCurrent.5240.0.0.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.0.0.0.0.0.0" unitRef="USD" decimals="0">29396238</us-gaap:CustomerAdvancesCurrent>
  <us-gaap:CustomerAdvancesNoncurrent id="CustomerAdvancesNoncurrent.5239.0.0.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.0.0.0.0.0.0" unitRef="USD" decimals="0">11924121</us-gaap:CustomerAdvancesNoncurrent>
  <us-gaap:CustomerAdvancesNoncurrent id="CustomerAdvancesNoncurrent.5240.0.0.0.0.0.0" xsi:nil="true" contextRef="as-of-2012-12-31.5240.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:DebtCurrent id="DebtCurrent.5239.0.0.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.0.0.0.0.0.0" unitRef="USD" decimals="0">118870857</us-gaap:DebtCurrent>
  <us-gaap:DebtCurrent id="DebtCurrent.5240.0.0.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.0.0.0.0.0.0" unitRef="USD" decimals="0">120279760</us-gaap:DebtCurrent>
  <us-gaap:DebtCurrent id="DebtCurrent.5239.5532.5528.0.0.0.0" xsi:nil="true" contextRef="as-of-2013-12-31.5239.0.5532.5528.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:DebtCurrent id="DebtCurrent.5240.5532.5528.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.5532.5528.0.0.0.0" unitRef="USD" decimals="0">19257600</us-gaap:DebtCurrent>
  <us-gaap:DebtDisclosureTextBlock id="DebtDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;8. BORROWINGS&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group&amp;#39;s bank borrowings consisted of the following:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Short-term bank borrowings&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;49,748,800&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;39,643,440&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Long-term bank borrowings, current portion&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;69,006,400&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;50,049,843&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Other short-term borrowing&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,524,560&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 29,177,574&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total borrowings, current&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;120,279,760&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;118,870,857&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Long-term bank borrowings, non-current portion&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 187,520,880&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 134,870,287&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 307,800,640&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 253,741,144&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Short-term borrowings&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group&amp;#39;s short-term bank borrowing consisted of the following:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left"&gt;Short-term borrowing guaranteed by Daqo Group&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;1,604,800&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;28,080,770&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.125in; TEXT-INDENT: -0.125in"&gt; Short-term borrowing guaranteed by Daqo Group and Mr.&amp;nbsp;Guangfu Xu and Mr.&amp;nbsp;Xiang Xu&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;48,144,000&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Short-term borrowing guaranteed by Daqo Group and a third party&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 11,562,670&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 49,748,800&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 39,643,440&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Company has $nil and $18.2 million short-term bank facilities with various banks were available as of December 31, 2012 and 2013, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The interest rate on the short-term bank borrowing was 7.0% and 6.4% as of December&amp;nbsp;31, 2012 and 2013. The other short term borrowing was discounted bank notes with recourse to the Company.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Long-term borrowings&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The major bank borrows are as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; On January&amp;nbsp;21, 2009, Chongqing Daqo entered into a six-year long term facility agreement with China Construction Bank. Such borrowing is restricted to the purchase of fixed assets and has a maximum borrowing amount $66.1 million (RMB400 million), bearing standard five-year long term interest rate issued by People&amp;#39;s Bank of China. The borrowing is guaranteed by Daqo Group. As of December&amp;nbsp;31, 2013, Chongqing Daqo had drawn down $66.1 million (RMB400 million), repaid $60.0 million (RMB357 million) and had no facility available for future draw down. There are no financial covenants associated with the facility.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; On September&amp;nbsp;28, 2011, Chongqing Daqo entered into a four-year credit facility agreement with Huaxia Bank with maximum amount of $66.1 million (RMB400 million). Chongqing Daqo drew down $62.8 million (RMB380 million), including: $21.5 million (RMB130 million) with fixed interest rate of 6.65%, which is designated for working capital and $41.3 million (RMB250 million) with fixed interest rate of 6.9% which is restricted to the purchase of fixed assets. Chongqing Daqo used the remaining facility of $3.3 million (RMB20 million) through use of bank acceptance notes. As of December 31, 2013, Chongqing Daqo had repaid 27.1 million (RMB164 million) and had no facility available for future draw down. This credit facility is guaranteed by Daqo Group and also collateralized by Chongqing Daqo&amp;#39;s land use right and plant, with a book value of $8.5 million (RMB52 million). The facility contains a covenant which requires the Company to maintain a certain debt to asset ratio, which Chongqing Daqo was in compliance with as of December&amp;nbsp;31, 2013.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; On September&amp;nbsp;30, 2011, Xinjiang Daqo entered into a six-year bank borrowing agreement with Bank of China. Such borrowing is restricted to the purchase of fixed assets and has a maximum borrowing amount of $161.9 million (RMB980 million) and bears interest at standard five-year long term interest rate issued by People&amp;#39;s Bank of China plus 5%. The borrowing contains a debt to asset ratio financial covenant, which Xinjiang Daqo was in compliance with as of December&amp;nbsp;31, 2013. The borrowing is guaranteed by Daqo Group, Daqo New Material, two affiliated companies under Daqo Group and Mr.&amp;nbsp;Guangfu Xu. As of December&amp;nbsp;31, 2013, Xinjiang Daqo had drawn down $123.9 million (RMB750 million) and had $38.0 million (RMB230 million) facility available for future draw down. The loan was in compliance with the covenants as of December&amp;nbsp;31, 2013.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; On October&amp;nbsp;26, 2011, Chongqing Daqo entered into a four-year credit facility agreement with Chongqing Rural Commercial Bank. Such borrowing is restricted to the purchase of fixed assets and has a maximum borrowing amount $40.6 million (RMB 245.5 million) and bears interest at three to five-year long term interest rate issued by People&amp;#39;s Bank of China plus 10%. The borrowing is guaranteed by Daqo Group, and two directors of the Company. As of December&amp;nbsp;31, 2013, Chongqing Daqo had drawn down $40.6 million (RMB 245.5 million) and repaid $22.3 million (RMB 135 million). There are no financial covenants associated with the facility.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The weighted average interest rate as of December&amp;nbsp;31, 2012 and 2013 for the Group&amp;#39;s long-term bank borrowings was 7.2% and 7.2%, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The principal maturities of these long-term bank borrowings as of December&amp;nbsp;31, 2013 are as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif"&gt; &lt;strong&gt;December&amp;nbsp;31,&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Amount&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 85%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; 2014&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;50,049,843&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; 2015&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;77,056,937&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; 2016&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 57,813,350&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 184,920,130&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:DebtDisclosureTextBlock>
  <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 id="DebtInstrumentBasisSpreadOnVariableRate1.5243.40309.3141.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.40309.3141.0.0.0.0" unitRef="pure" decimals="1">0.1</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
  <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 id="DebtInstrumentBasisSpreadOnVariableRate1.5243.40298.3141.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.40298.3141.0.0.0.0" unitRef="pure" decimals="2">0.05</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
  <us-gaap:DebtInstrumentCollateralAmount id="DebtInstrumentCollateralAmount.5239.40338.3141.0.0.0.0.2244" contextRef="as-of-2013-12-31.5239.0.40338.3141.0.0.0.0" unitRef="USD" decimals="-5">8500000</us-gaap:DebtInstrumentCollateralAmount>
  <us-gaap:DebtInstrumentCollateralAmount id="DebtInstrumentCollateralAmount.5239.40338.3141.0.0.0.0.2245" contextRef="as-of-2013-12-31.5239.0.40338.3141.0.0.0.0" unitRef="CNY" decimals="-6">52000000</us-gaap:DebtInstrumentCollateralAmount>
  <us-gaap:DebtInstrumentInterestRateStatedPercentage id="DebtInstrumentInterestRateStatedPercentage.5239.40333.1266.40338.3141.0.0" contextRef="as-of-2013-12-31.5239.0.40333.1266.40338.3141.0.0" unitRef="pure" decimals="INF">0.0665</us-gaap:DebtInstrumentInterestRateStatedPercentage>
  <us-gaap:DebtInstrumentInterestRateStatedPercentage id="DebtInstrumentInterestRateStatedPercentage.5239.40334.1266.40338.3141.0.0" contextRef="as-of-2013-12-31.5239.0.40334.1266.40338.3141.0.0" unitRef="pure" decimals="INF">0.069</us-gaap:DebtInstrumentInterestRateStatedPercentage>
  <us-gaap:DebtInstrumentTerm id="DebtInstrumentTerm.5243.40309.3141.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.40309.3141.0.0.0.0">P4Y</us-gaap:DebtInstrumentTerm>
  <us-gaap:DebtInstrumentTerm id="DebtInstrumentTerm.5243.40298.3141.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.40298.3141.0.0.0.0">P6Y</us-gaap:DebtInstrumentTerm>
  <us-gaap:DebtInstrumentTerm id="DebtInstrumentTerm.5243.40338.3141.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.40338.3141.0.0.0.0">P4Y</us-gaap:DebtInstrumentTerm>
  <us-gaap:DebtInstrumentTerm id="DebtInstrumentTerm.5243.40334.1266.40307.3141.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.40334.1266.40307.3141.0.0">P6Y</us-gaap:DebtInstrumentTerm>
  <us-gaap:DebtLongtermAndShorttermCombinedAmount id="DebtLongtermAndShorttermCombinedAmount.5239.0.0.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.0.0.0.0.0.0" unitRef="USD" decimals="0">253741144</us-gaap:DebtLongtermAndShorttermCombinedAmount>
  <us-gaap:DebtLongtermAndShorttermCombinedAmount id="DebtLongtermAndShorttermCombinedAmount.5240.0.0.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.0.0.0.0.0.0" unitRef="USD" decimals="0">307800640</us-gaap:DebtLongtermAndShorttermCombinedAmount>
  <us-gaap:DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock id="DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Prepaid expense and other current assets consist of the following:&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Spare parts&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;3,975,860&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;6,264,805&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Prepaid Value added tax ("VAT")&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;18,705,984&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;13,546,880&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Prepaid insurance fee&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;471,721&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,016,625&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Others&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 780,402&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 3,042,380&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 23,933,967&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 23,870,690&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock>
  <us-gaap:DeferredIncomeTaxExpenseBenefit id="DeferredIncomeTaxExpenseBenefit.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0" unitRef="USD" decimals="0">1434386</us-gaap:DeferredIncomeTaxExpenseBenefit>
  <us-gaap:DeferredIncomeTaxExpenseBenefit id="DeferredIncomeTaxExpenseBenefit.5244.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-12-31.5244.0.0.0.0.0.0.0" unitRef="USD" decimals="0">12148323</us-gaap:DeferredIncomeTaxExpenseBenefit>
  <us-gaap:DeferredIncomeTaxExpenseBenefit id="DeferredIncomeTaxExpenseBenefit.5245.0.0.0.0.0.0" contextRef="from-2011-01-01-to-2011-12-31.5245.0.0.0.0.0.0.0" unitRef="USD" decimals="0">-19933128</us-gaap:DeferredIncomeTaxExpenseBenefit>
  <us-gaap:DeferredRevenueByArrangementDisclosureTextBlock id="DeferredRevenueByArrangementDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Advances from customers consist of the following and is analyzed as long and short portion respectively:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.32in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Customer D*&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;15,532,572&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;15,987,573&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Customer J&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;6,852,496&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;4,220,355&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Customer G&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;3,462,084&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;2,996,550&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Customer F&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,532,632&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Others&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 2,016,454&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,937,418&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 29,396,238&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 25,141,896&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Less: Current portion of Advance from customers&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 29,396,238&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; &lt;p style="MARGIN: 0pt 0px"&gt;13,217,775&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Long term advance from customers&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; &lt;p style="MARGIN: 0pt 0px"&gt;11,924,121&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt;* Pursuant to the terms of the Company&amp;#39;s revised supply agreement with this customer the Company will deliver monthly amounts of polysilicon, totaling no less than RMB2.4 million from April 2014 to September 2016, or until such time as the advance has been fully utilized.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:DeferredRevenueByArrangementDisclosureTextBlock>
  <us-gaap:DeferredRevenueDisclosureTextBlock id="DeferredRevenueDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;10. ADVANCES FROM CUSTOMERS&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Advances from customers represent prepayments from customers and are recognized as revenue in accordance with the Group&amp;#39;s revenue recognition policy.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Advances from customers consist of the following and is analyzed as long and short portion respectively:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.32in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Customer D*&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;15,532,572&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;15,987,573&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Customer J&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;6,852,496&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;4,220,355&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Customer G&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;3,462,084&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;2,996,550&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Customer F&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,532,632&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Others&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 2,016,454&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,937,418&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 29,396,238&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 25,141,896&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Less: Current portion of Advance from customers&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 29,396,238&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; &lt;p style="MARGIN: 0pt 0px"&gt;13,217,775&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Long term advance from customers&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; &lt;p style="MARGIN: 0pt 0px"&gt;11,924,121&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt;* Pursuant to the terms of the Company&amp;#39;s revised supply agreement with this customer the Company will deliver monthly amounts of polysilicon, totaling no less than RMB2.4 million from April 2014 to September 2016, or until such time as the advance has been fully utilized.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:DeferredRevenueDisclosureTextBlock>
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  <us-gaap:Depreciation id="Depreciation.5245.0.0.0.0.0.0" contextRef="from-2011-01-01-to-2011-12-31.5245.0.0.0.0.0.0.0" unitRef="USD" decimals="0">35479645</us-gaap:Depreciation>
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock id="DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;14. SHARE BASED COMPENSATION&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; On August&amp;nbsp;5, 2009, the Company adopted the 2009 Share Incentive Plan (the "Option Plan") to attract and retain the best available personnel, provide additional incentives to employees, directors and consultants, and promote the success of the Company&amp;#39;s business. As of December&amp;nbsp;31, 2009, share options to purchase of no more than 15,000,000 ordinary shares were authorized and 5,350,000 share options were granted under the Option Plan.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; During the years ended December&amp;nbsp;31, 2011, 2012 and 2013, the Company granted nil, 1,190,000 and 140,000 share options respectively to its officers, directors and employees, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; On January 9, 2012, the Company modified the exercise price for a total number of 6,520,000 options granted before to $0.42, in order to provide appropriate incentives to the relevant employees and executive officers of the Company. The fair value of the options under revised terms for three batches granted on October 31, 2009, October 6, 2010 and December 3, 2010 was $0.22, $0.23 and $0.23, respectively. The total incremental cost associated with the modification was $638,700, of which $284,123 was recognized immediately for the options vested prior to the date of the modification and the remaining share based compensation charges of $354,577 will be recognized over a weighted-average period of 2.12 years.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; On January 9, 2012, the Company granted options to acquire 300,000 ordinary shares to independent directors pursuant to the Option Plan. Thirty percent (30%) of the options will vest one year following the grant date, thirty percent (30%) of the options will vest on the second year of the vesting commencement date, and the remaining forty percent (40%) of the options will vest on the third anniversary of the vesting commencement date. At the same time, the Company granted options to acquire 890,000 ordinary shares to certain officers and employees pursuant to the Option Plan. Twenty-five percent (25%) of the options will vest one year following the grant date, and the remaining seventy-five percent (75%) of the options will vest in thirty-six equal installments over the next three years. These options were granted in anticipation of services to be provided during the respective service periods. The exercise price is $0.42.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; On April 3, 2013, the Company modified the exercise price for a total number of 6,796,975 options granted before to $0.25, in order to provide appropriate incentives to the relevant employees and executive officers of the Company. The fair value of the options under revised terms for four batches granted on October 31, 2009, October 6, 2010, December 3, 2010, January 9, 2012 was $0.11, $0.12, $0.11 and $0.13, respectively. The total incremental cost associated with the modification was $191,000, of which $153,085 was recognized immediately for the options vested prior to the date of the modification and the remaining share-based compensation charges of $37,915 will be recognized over a weighted-average period of 1.21 years.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; On April 3, 2013, the Company granted options to acquire 140,000 ordinary shares to an independent director pursuant to the Option Plan. Thirty percent (30%) of the options will vest one year following the service inception date, thirty percent (30%) of the options will vest on the second year of service inception date, and the remaining forty percent (40%) of the options will vest on the third anniversary of the service inception date. The exercise price is $0.25.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Company utilized the Binomial option pricing model to evaluate the fair value of the stock options with reference to the closing price of the Company on the measurement dates.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The following assumptions were used in the Binomial option pricing model:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18"&gt;Year Ended December&amp;nbsp;31, 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"&gt; Options&lt;br /&gt; granted&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Average&lt;br /&gt; risk-free&lt;br /&gt; rate of&lt;br /&gt; return&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Exercise&lt;br /&gt; multiple&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Volatility&lt;br /&gt; rate&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Dividend&lt;br /&gt; yield&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Post-&lt;br /&gt; vesting&lt;br /&gt; forfeiture&lt;br /&gt; rate&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 35%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; January 9, 2012&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: center"&gt;2.05%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center; WIDTH: 10%" nowrap="nowrap"&gt;2.2 ~ 3.0 times&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: center"&gt;58.7%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: center"&gt;0%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: center"&gt;3-9.5%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18"&gt;Year Ended December&amp;nbsp;31, 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"&gt; Options&lt;br /&gt; granted&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Average&lt;br /&gt; risk-free&lt;br /&gt; rate of&lt;br /&gt; return&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Exercise&lt;br /&gt; multiple&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Volatility&lt;br /&gt; rate&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Dividend&lt;br /&gt; yield&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Post-&lt;br /&gt; vesting&lt;br /&gt; forfeiture&lt;br /&gt; rate&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 35%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; April 3, 2013&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;2.29%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"&gt; 2.8 times&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: center"&gt;51.78%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: center"&gt;0%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: center"&gt;3%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The risk-free rate of return is based on the yield curve of China USD sovereign bond commensurate with the same maturity at the respective grant dates. The exercise multiple is estimated by reference to the proprietary research and empirical studies. The expected volatility is based on the average of historical daily annualized share price volatility of 6 comparable companies over a normalized period that commensurate with the option life of 10 years. The post-vesting forfeiture rate is based on the historical data and management&amp;#39;s best&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; estimation.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; A summary of the aggregate option activity and information regarding options outstanding as of December&amp;nbsp;31, 2012 is as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Number&amp;nbsp;of&lt;br /&gt; Options&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Exercise&lt;br /&gt; Price&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Remaining&lt;br /&gt; Contract&amp;nbsp;Life&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Aggregate&lt;br /&gt; Intrinsic&lt;br /&gt; Value&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 40%; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"&gt; Options outstanding on January&amp;nbsp;1, 2013 (after modification of exercise price)&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;7,179,500&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;0.25&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-LEFT: 9pt"&gt;Granted&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;140,000&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;0.25&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-LEFT: 9pt"&gt;Forfeited&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(304,912&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;0.25&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-LEFT: 9pt"&gt;Expired&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(92,918&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;0.25&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt"&gt;Exercised&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; (550,420&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 0.25&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"&gt; Options outstanding on December&amp;nbsp;31, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 6,371,250&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 0.25&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 6.42&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"&gt; Options vested or expected to vest on December&amp;nbsp;31, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 5,915,969&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 0.25&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 6.37&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"&gt; Options exercisable on December&amp;nbsp;31, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 5,364,292&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 0.25&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 6.43&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The share-based compensation charge related to the share options of approximately$2,206,025, $2,249,834 and $1,881,401 was recognized by the Company for the years ended December&amp;nbsp;31, 2011, 2012 and 2013, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The weighted average grant date fair value of options granted during the year ended December&amp;nbsp;31, 2011, 2012 and 2013 was $ nil, $0.23 and $0.11, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; As of December&amp;nbsp;31, 2013, there was $ $524,535 in total unrecognized compensation cost related to non-vested stock options, which is expected to be recognized over a weighted-average period of 1.40 years.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
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  <us-gaap:DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown id="DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown.5245.0.0.0.0.0.0" contextRef="from-2011-01-01-to-2011-12-31.5245.0.0.0.0.0.0.0" unitRef="USD" decimals="0">3844799</us-gaap:DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown>
  <us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock id="DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;3. EXIT and DISPOSAL ACTIVITIES&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(a) Disposal of Nanjing Daqo&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; On September 28, 2012, in order to focus on the Company&amp;#39;s core competency and enhance operating efficiency, the Company sold 100% equity interests on Nanjing Daqo to our related party, Daqo Group, after the Group failed to identify a third party investor from its public bidding procedure undertaken through the Nanjing Property Right Trading Center for a total consideration of RMB62 million (US$9.9 million). The sales price was determined with reference to the valuation result as of March 31, 2012 performed by an independent third party valuer which determined the fair value to approximate the net asset value of approximately $12.0 million, less the operating loss of Nanjing Daqo incurred during the period from April 1, 2012 to September 28, 2012 of approximately $2.1 million. The loss from discontinued operation of $2,392,228 represents the aggregation of the loss incurred by Nanjing Daqo during the period from January 1, 2012 to September 28, 2012 of $3,491,527 and the gain on disposition of $1,099,299, which was the reclassification of foreign currency translation gain from other comprehensive income of $1,099,299. There were no remaining assets or liabilities associated with discontinued operations in the consolidated balance sheet as of December 31, 2012. As of December 31, 2013, $4.8 million of the consideration had been received.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; The discontinued operations were retrospectively reflected for all the prior years presented in the consolidated statements of operations. The operating results reported as discontinued operations for the years ended December 31, 2011, 2012 and 2013, are summarized as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 55%"&gt;Revenues&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;29,082,384&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;6,454,830&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Operating costs and expenses&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (36,943,483&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (9,946,357&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Loss from discontinued operations before income taxes&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(7,861,099&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(3,491,527&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Income tax benefit&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 2,003,289&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Loss from discontinued operations&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (5,857,810&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (3,491,527&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(b) Relocation of Polysilicon Operations to Xinjiang&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; As of December 31, 2013, the Company has a plan to expand the capacity at the Xinjiang plant and is in the process of relocating significant production assets, with a carrying value of $ 144.7 million, from Chongqing Daqo to its Xinjiang plant. In connection with this relocation plan, the Company determined i) to cease a retooling project at its polysilicon production line located at Chongqing Daqo in the second quarter of 2013, and ii) it was more practical to relocate its machinery and equipment located at Chongqing Daqo, to Xinjiang as part of the expansion plan. Therefore, the Company recorded an impairment charge in connection with this decision of $158.4 million in the second quarter of 2013 and subsequently terminated its lease arrangement with Daqo New Material on December 30, 2013. The Company expects to complete the relocation by the end of 2014. The Company has incurred approximately $0.8 million in employee termination costs associated with the closure of the polysilicon operations at Chongqing Daqo and $0.5 million in connection with relocation costs to date, all of which were recorded in selling, general and administrative expenses, which were recorded in selling, general and administrative expenses. No other material costs, including contract termination costs, have been incurred and no material liabilities as of December 31, 2013 are recorded in connection with this relocation plan, which the Company expects to complete by the end of 2014. The Company expects to incur capital expenditure for the project of around $100 million, which includes approximately $7.1 million of expected relocation costs.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock>
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  <us-gaap:EarningsPerSharePolicyTextBlock id="EarningsPerSharePolicyTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(s) Earnings (loss) per share&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Basic earnings (loss) per ordinary share are computed by dividing the net income (loss) attributable to ordinary shares by the weighted average number of ordinary shares outstanding during the year.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Diluted earnings per share is calculated by dividing net income attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary shares and dilutive ordinary share equivalents outstanding during the year. Diluted earnings per share is computed using the treasury stock method. During the years ended December&amp;nbsp;31, 2011, 2012 and 2013, there are no ordinary shares issuable upon the exercise of outstanding share options included in the calculation of dilutive earnings per share as they were anti-dilutive.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
  <us-gaap:EarningsPerShareTextBlock id="EarningsPerShareTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;16. EARNINGS PER SHARE&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The calculation of earnings per share is as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt;Numerator used in basic and diluted earnings per share:&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="WIDTH: 61%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders-basic and diluted&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 33,323,952&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (111,928,891&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (70,943,484&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt;Denominator used in basic and diluted earnings per share:&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;Share options&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Weighted average number of ordinary shares outstanding used in computing earnings per share-basic and diluted&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 175,714,103&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 175,067,343&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 173,068,420&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;NET INCOME (LOSS) ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE-Basic and Diluted&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 0.19&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; (0.64&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; (0.41&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Outstanding employee options totaling of 6,805,000, 7,179,500 and 6,371,250 were excluded from the computation of diluted earnings per share as their effects would have been anti-dilutive for the year ended December&amp;nbsp;31, 2011, 2012 and 2013, respectively.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:EarningsPerShareTextBlock>
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  <us-gaap:EquityRestrictions id="EquityRestrictions.5240.0.0.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.0.0.0.0.0.0" unitRef="USD" decimals="0">124814365</us-gaap:EquityRestrictions>
  <us-gaap:FairValueAssetsMeasuredOnNonrecurringBasisTextBlock id="FairValueAssetsMeasuredOnNonrecurringBasisTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The following table displays assets and liabilities that were measured at fair value on a non-recurring basis after initial recognition;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.2in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18"&gt;Year&amp;nbsp;ended&amp;nbsp;December&amp;nbsp;31,&amp;nbsp;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold"&gt; Description&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; &lt;p style="MARGIN: 0pt 0px"&gt;Carrying&lt;br /&gt; amount&lt;/p&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Quoted&amp;nbsp;Prices&amp;nbsp;in&lt;br /&gt; Active&amp;nbsp;Markets&lt;br /&gt; for&amp;nbsp;Identical&lt;br /&gt; Assets&amp;nbsp;(Level&amp;nbsp;1)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Significant&lt;br /&gt; Other&lt;br /&gt; Observable&lt;br /&gt; Inputs&amp;nbsp;(Level&amp;nbsp;2)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Significant&lt;br /&gt; Unobservable&lt;br /&gt; Inputs&amp;nbsp;(Level&amp;nbsp;3)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Total&amp;nbsp;Losses&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9.5pt; TEXT-ALIGN: left; TEXT-INDENT: -9.5pt; WIDTH: 35%"&gt; Long-lived assets held and used&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"&gt; 53,287,118&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"&gt; -&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"&gt; 10,532,637&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"&gt; 42,754,481&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 21.3pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.2in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="TEXT-ALIGN: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18"&gt;Year&amp;nbsp;ended&amp;nbsp;December&amp;nbsp;31,&amp;nbsp;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"&gt; Description&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; &lt;p style="MARGIN: 0pt 0px"&gt;Carrying&lt;br /&gt; amount&lt;/p&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; Quoted&amp;nbsp;Prices&amp;nbsp;in&lt;br /&gt; Active&amp;nbsp;Markets&lt;br /&gt; for&amp;nbsp;Identical&lt;br /&gt; Assets&amp;nbsp;(Level&amp;nbsp;1)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; Significant&lt;br /&gt; Other&lt;br /&gt; Observable&lt;br /&gt; Inputs&amp;nbsp;(Level&amp;nbsp;2)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; Significant&lt;br /&gt; Unobservable&lt;br /&gt; Inputs&amp;nbsp;(Level&amp;nbsp;3)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; Total&amp;nbsp;Losses&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 35%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 0in"&gt; Long-lived assets held and used&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 307,942,362&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 149,517,535&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 158,424,827&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:FairValueAssetsMeasuredOnNonrecurringBasisTextBlock>
  <us-gaap:FairValueByBalanceSheetGroupingTextBlock id="FairValueByBalanceSheetGroupingTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The following table presents the financial instruments for which fair value does not approximate carrying value as of December&amp;nbsp;31, 2012 and 2013:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;As&amp;nbsp;of&amp;nbsp;December&amp;nbsp;31,&amp;nbsp;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;As&amp;nbsp;of&amp;nbsp;December&amp;nbsp;31,&amp;nbsp;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Carrying&amp;nbsp;Value&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Fair&amp;nbsp;Value&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Carrying&lt;br /&gt; Value&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Fair&amp;nbsp;Value&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 48%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Long-term bank borrowing&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;187,520,880&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;166,148,388&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;134,870,287&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;124,047,823&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Payables for purchase of property, plant and equipment&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,126,255&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,014,716&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:FairValueByBalanceSheetGroupingTextBlock>
  <us-gaap:FairValueDisclosuresTextBlock id="FairValueDisclosuresTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;11. FAIR VALUE MEASUREMENTS&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The following table presents the financial instruments for which fair value does not approximate carrying value as of December&amp;nbsp;31, 2012 and 2013:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;As&amp;nbsp;of&amp;nbsp;December&amp;nbsp;31,&amp;nbsp;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;As&amp;nbsp;of&amp;nbsp;December&amp;nbsp;31,&amp;nbsp;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Carrying&amp;nbsp;Value&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Fair&amp;nbsp;Value&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Carrying&lt;br /&gt; Value&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Fair&amp;nbsp;Value&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 48%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Long-term bank borrowing&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;187,520,880&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;166,148,388&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;134,870,287&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;124,047,823&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Payables for purchase of property, plant and equipment&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,126,255&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,014,716&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Nonrecurring Fair Value Measurements&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The following table displays assets and liabilities that were measured at fair value on a non-recurring basis after initial recognition;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.2in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18"&gt;Year&amp;nbsp;ended&amp;nbsp;December&amp;nbsp;31,&amp;nbsp;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold"&gt; Description&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; &lt;p style="MARGIN: 0pt 0px"&gt;Carrying&lt;br /&gt; amount&lt;/p&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Quoted&amp;nbsp;Prices&amp;nbsp;in&lt;br /&gt; Active&amp;nbsp;Markets&lt;br /&gt; for&amp;nbsp;Identical&lt;br /&gt; Assets&amp;nbsp;(Level&amp;nbsp;1)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Significant&lt;br /&gt; Other&lt;br /&gt; Observable&lt;br /&gt; Inputs&amp;nbsp;(Level&amp;nbsp;2)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Significant&lt;br /&gt; Unobservable&lt;br /&gt; Inputs&amp;nbsp;(Level&amp;nbsp;3)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Total&amp;nbsp;Losses&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9.5pt; TEXT-ALIGN: left; TEXT-INDENT: -9.5pt; WIDTH: 35%"&gt; Long-lived assets held and used&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"&gt; 53,287,118&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"&gt; -&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"&gt; 10,532,637&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"&gt; 42,754,481&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 21.3pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.2in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="TEXT-ALIGN: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18"&gt;Year&amp;nbsp;ended&amp;nbsp;December&amp;nbsp;31,&amp;nbsp;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"&gt; Description&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; &lt;p style="MARGIN: 0pt 0px"&gt;Carrying&lt;br /&gt; amount&lt;/p&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; Quoted&amp;nbsp;Prices&amp;nbsp;in&lt;br /&gt; Active&amp;nbsp;Markets&lt;br /&gt; for&amp;nbsp;Identical&lt;br /&gt; Assets&amp;nbsp;(Level&amp;nbsp;1)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; Significant&lt;br /&gt; Other&lt;br /&gt; Observable&lt;br /&gt; Inputs&amp;nbsp;(Level&amp;nbsp;2)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; Significant&lt;br /&gt; Unobservable&lt;br /&gt; Inputs&amp;nbsp;(Level&amp;nbsp;3)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; Total&amp;nbsp;Losses&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 35%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 0in"&gt; Long-lived assets held and used&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 307,942,362&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 149,517,535&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 158,424,827&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 21.3pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 21.3pt"&gt; During the year ended December 31, 2012, long-lived assets held and used with a carrying amount of $53.3 million were written down to their fair value of $10.5 million, resulting in an impairment charge of $42.8 million. The fair values of the productive assets were estimated using a discounted cash flow model under the income approach. The discounted cash flow method involves forecasting the future cash flows and then discounting them back to a present value at an appropriate discount rate. The discount rate is estimated based on a weighted average cost of capital method, which measures a Company&amp;#39;s cost of debt and equity financing weighted by the percentage of debt and equity in a Company&amp;#39;s target capital structure as determined through reference to the identified guideline companies. The cost of equity was derived from the CAPM and the cost of debt was benchmarked to the People&amp;#39;s Bank of China&amp;#39;s long term borrowing rate in China.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 21.3pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 21.3pt"&gt; During the year ended December 31, 2013, long-lived assets held and used with a carrying amount of $308 million were written down to their fair value of $150 million, resulting in an impairment charge of $158 million, about $143 million of this amount related to Daqo New Material. Based on the nature of the property being assessed, buildings and land use rights, the fair value was estimated using direct comparison method under the market approach. The direct comparison method is a set of procedures in which a value indication is derived by comparing the real estate being appraised to similar real estate that have been sold recently. Then applying appropriate units of comparison and making adjustments to the sale prices of the comparable based on the elements of comparison such as differences in location, size, decoration and year of completion, etc. to derive at the fair value of the real estate.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:FairValueOfFinancialInstrumentsPolicy id="FairValueOfFinancialInstrumentsPolicy.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(v) Fair value of financial instruments&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Company estimates fair value of financial assets and liabilities as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (also referred to as an exit price). The fair value measurement guidance establishes a hierarchy for inputs used in measuring fair value that gives the highest priority to observable inputs and the lowest priority to unobservable inputs. Valuation techniques used to measure fair value shall maximize the use of observable inputs.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr&gt; &lt;td style="WIDTH: 4%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 3%"&gt; &amp;bull;&lt;/td&gt; &lt;td style="WIDTH: 1%; VERTICAL-ALIGN: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 92%"&gt; Level 1-Valuation techniques in which all significant inputs are unadjusted quoted prices from active markets for assets or liabilities that are identical to the assets or liabilities being measured.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr&gt; &lt;td style="WIDTH: 4%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 3%"&gt; &amp;bull;&lt;/td&gt; &lt;td style="WIDTH: 1%; VERTICAL-ALIGN: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 92%"&gt; Level 2-Valuation techniques in which significant inputs include quoted prices from active markets for assets or liabilities that are similar to the assets or liabilities being measured and/or quoted prices for assets or liabilities that are identical or similar to the assets or liabilities being measured from markets that are not active. Also, model-derived valuations in which all significant inputs and significant value drivers are observable in active markets are Level 2 valuation techniques.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr&gt; &lt;td style="WIDTH: 4%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 3%"&gt; &amp;bull;&lt;/td&gt; &lt;td style="WIDTH: 1%; VERTICAL-ALIGN: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 92%"&gt; Level 3-Valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are valuation technique inputs that reflect the Group&amp;#39;s own assumptions about the assumptions that market participants would use to price an asset or liability.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; When available, the Group measures the fair value of financial instruments based on quoted market prices in active markets, valuation techniques that use observable market-based inputs or unobservable inputs that are corroborated by market data. Pricing information the Group obtains from third parties is internally validated for reasonableness prior to use in the consolidated financial statements. When observable market prices are not readily available, the Group generally estimates fair value using valuation techniques that rely on alternate market data or inputs that are generally less readily observable from objective sources and are estimated based on pertinent information available at the time of the applicable reporting periods. In certain cases, fair values are not subject to precise quantification or verification and may fluctuate as economic and market factors vary and the Group&amp;#39;s evaluation of those factors changes. Although the Group uses its best judgment in estimating the fair value of these financial instruments, there are inherent limitations in any estimation technique. In these cases, a minor change in an assumption could result in a significant change in its estimate of fair value, thereby increasing or decreasing the amounts of the Group&amp;#39;s consolidated assets, liabilities, shareholders&amp;#39; equity and net income or loss.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group&amp;#39;s financial instruments include cash and cash equivalents, restricted cash, accounts receivable, other current assets, amount due from related parties, accounts payable, other current liabilities, payables for purchase of property, plant and equipment, amounts due to related parties and short-term and current portion of long-term borrowings. The carrying amounts of these short-term financial instruments approximate their fair values due to the short-term maturity of these instruments.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The fair values of the Company&amp;#39;s non-current portion of payables for purchase of property, plant and equipment and long-term bank borrowings as of December&amp;nbsp;31, 2012 and 2013 are estimated by discounted cash flow technique using an interest rate corresponding to debt with similar maturities and risks on the measurement date.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:FairValueOfFinancialInstrumentsPolicy>
  <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax id="ForeignCurrencyTransactionGainLossBeforeTax.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0" unitRef="USD" decimals="0">11875</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
  <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax id="ForeignCurrencyTransactionGainLossBeforeTax.5244.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-12-31.5244.0.0.0.0.0.0.0" unitRef="USD" decimals="0">-55800</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
  <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax id="ForeignCurrencyTransactionGainLossBeforeTax.5245.0.0.0.0.0.0" contextRef="from-2011-01-01-to-2011-12-31.5245.0.0.0.0.0.0.0" unitRef="USD" decimals="0">148676</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
  <us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock id="ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(t) Foreign currency translation&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The reporting currency of the Group is the United States dollar ("U.S. dollar"). The functional currency of the Company is the U.S. dollar. Monetary assets and liabilities denominated in other currencies other than the U.S. dollar are translated into U.S. dollar at the rates of exchange in effect at the balance sheet dates. Transactions dominated in currencies other than the U.S. dollar during the year are converted into U.S. dollar at the applicable rates of exchange prevailing when the transactions occur. Transaction gains and losses are recorded in the statements of operations.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The financial records of the Company&amp;#39;s PRC subsidiaries and VIE are maintained in Chinese Renminbi ("RMB"), which is their functional currency. Assets and liabilities are translated at the exchange rates at the balance sheet date. Equity accounts are translated at historical exchange rates. Revenues, expenses, gains and losses are translated at average rate of exchange prevailing during the periods presented. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive income in the statement of changes in equity and comprehensive income.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The RMB is not a freely convertible currency. The State Administration for Foreign Exchange of People&amp;#39;s Republic of China, under the authority of the People&amp;#39;s Bank of China, controls the conversion of RMB into foreign currencies. The value of the RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China foreign exchange trading system market. The Group&amp;#39;s aggregate amount of cash and cash equivalents and restricted cash denominated in RMB amounted to $11,589,709 and $11,436,370 as of December&amp;nbsp;31, 2012 and 2013, respectively.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock>
  <us-gaap:GeneralAndAdministrativeExpense id="GeneralAndAdministrativeExpense.5243.3923.136.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.3923.136.0.0.0.0" unitRef="USD" decimals="0">2979454</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:GeneralAndAdministrativeExpense id="GeneralAndAdministrativeExpense.5244.3923.136.0.0.0.0" contextRef="from-2012-01-01-to-2012-12-31.5244.0.3923.136.0.0.0.0" unitRef="USD" decimals="0">3528728</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:GeneralAndAdministrativeExpense id="GeneralAndAdministrativeExpense.5245.3923.136.0.0.0.0" contextRef="from-2011-01-01-to-2011-12-31.5245.0.3923.136.0.0.0.0" unitRef="USD" decimals="0">2355174</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock id="GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(p) Government subsidies&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group receives unrestricted cash subsidies from local government agencies. The government agencies use their discretion to determine the amount of the subsidies with reference to land use right fees, value-added tax and income taxes paid, bank loan interest expenses paid or electricity consumed by the Group, however, these subsidies do not represent tax refunds or reimbursements of expenditures. The subsidies are unrestricted as to use and can be utilized by the Group in any manner it deems appropriate. The Group has utilized, and expects to continue to utilize, these subsidies to fund general operating expenses. The Group records unrestricted cash government subsidies as other operating income in the consolidated statements of operations. Unrestricted cash government subsidies received for the years ended December&amp;nbsp;31, 2011, 2012 and 2013 were $11,484,768, $9,250,296 and $5,249,788, respectively.&amp;nbsp;Government grants related to assets are recorded as long term liabilities and are recognized as an offset to depreciation expense on a straight-line basis over the useful life of the associated asset. The Company received government grants related to assets of $25,895,226, $1,383,487 and $1,172,160 during the years ended December&amp;nbsp;31, 2011, 2012 and 2013, respectively, and recognized $42,047, $764,528 and $ 1,454,125 as an offset to depreciation expense for the years ended December&amp;nbsp;31, 2011, 2012 and 2013, respectively. The Company had deferred government grants related to assets of $25,853,179, $26,472,137 and $26,954,700 as of December&amp;nbsp;31, 2011, 2012 and 2013, respectively.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock>
  <us-gaap:GrossProfit id="GrossProfit.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0" unitRef="USD" decimals="0">-26103603</us-gaap:GrossProfit>
  <us-gaap:GrossProfit id="GrossProfit.5244.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-12-31.5244.0.0.0.0.0.0.0" unitRef="USD" decimals="0">-37431983</us-gaap:GrossProfit>
  <us-gaap:GrossProfit id="GrossProfit.5245.0.0.0.0.0.0" contextRef="from-2011-01-01-to-2011-12-31.5245.0.0.0.0.0.0.0" unitRef="USD" decimals="0">87223554</us-gaap:GrossProfit>
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  <us-gaap:GrossProfit id="GrossProfit.5245.2589.1161.0.0.0.0" xsi:nil="true" contextRef="from-2011-01-01-to-2011-12-31.5245.0.2589.1161.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
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  <us-gaap:IncomeTaxDisclosureTextBlock id="IncomeTaxDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;13. INCOME TAXES&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;Cayman Islands Tax&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Company is incorporated in the Cayman Islands and is not subject to tax in this jurisdiction.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;PRC Tax&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Company&amp;#39;s subsidiaries are registered in the PRC as foreign invested enterprises. Under the Laws of the People&amp;#39;s Republic of China on Enterprise Income Tax (the "EIT Law") which are effective January&amp;nbsp;1, 2008, the statutory enterprise income tax rate is 25%.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Chongqing Daqo is a foreign invested enterprise located in Chongqing. In accordance with a PRC tax regulation which encourages investment in China&amp;#39;s southwest region, Chongqing Daqo is entitled to a preferential tax rate of 15% from its establishment through 2012. On November 19, 2012, Chongqing Daqo obtained a High and New Technology Enterprise ("HTNE") certificate for a valid period of 3 years till 2014. During the years ended December 31, 2012 and 2013, Chongqing Daqo was entitled to a preferential tax rate of 15% because of its HTNE status.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Daqo New Material, which was deconsolidated on December 31, 2013, is a domestic enterprise registered in Chongqing and is subject to an income tax rate of 25% for each of the three years ended December&amp;nbsp;31, 2013.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Nanjing Daqo is a foreign-invested enterprise established on December&amp;nbsp;20, 2007 located in Nanjing. The company started to carry out its operation from July, 2011, and was disposed on September 28, 2012. It is subject to an income tax rate of 25% for each of the three years ended December&amp;nbsp;31, 2012.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Xinjiang Daqo is a foreign-invested enterprise established on February, 2012 located in Shihezi Economic Development Area in Xinjiang Autonomous Region. The entity was subject to an income tax rate of 25% for the years ended December&amp;nbsp;31, 2012 and 2013&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;United States&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Daqo America was liquidated in 2013 and it was subject to United States income tax at a combined federal and state tax rate of 40% in 2011, 2012 and 2013.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Under the current EIT Law and implementation regulations issued by the PRC State Council, an income tax rate of 10% is applicable to interest and dividends payable to investors that are "non-resident enterprises", which do not have an establishment or place of business in the PRC, or which have such establishment or place of business but the relevant income is not effectively connected with the establishment or place of business, to the extent such interest or dividends have their sources within the PRC. The Company&amp;#39;s PRC subsidiaries did not have retained earnings as of December&amp;nbsp;31, 2013, therefore, no provision for PRC dividend withholding tax has been provided thereon.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group made its assessment of the level of authority for each tax position (including the potential application of interests and penalties) based on the tax positions&amp;#39; technical merits, and measured the unrecognized benefits associated with the tax positions. The Group did not have any unrecognized tax benefits as of December&amp;nbsp;31, 2012 and 2013. The Group does not anticipate that unrecognized tax benefits will significantly increase or decrease within the next twelve months.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; According to PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or withholding agent. The statute of limitations will be extended five years under special circumstances, which are not clearly defined (but an underpayment of tax liability exceeding RMB0.1 million is specifically listed as a special circumstance). In the case of a related party transaction, the statute of limitations is ten years. There is no statute of limitations in the case of tax evasion. From inception to 2013, the Group&amp;#39;s PRC subsidiaries are subject to examination of the PRC tax authorities. The Group classifies interest and penalties associated with taxes as income tax expense. Such charges were immaterial in the years ended December&amp;nbsp;31, 2011, 2012 and 2013.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Income tax expenses comprise:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.65in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year&amp;nbsp;ended&amp;nbsp;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 55%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Current Tax Expenses (Benefit)&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;20,647,400&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;(1,894,736&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;(162,621&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Deferred Tax Expenses (Benefit)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (19,933,128&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 12,148,323&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,434,386&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 714,272&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 10,253,587&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 1,271,765&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The principal components of deferred income tax assets and liabilities are as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.65in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Net operating loss carried forward&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;13,984,909&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;29,784,578&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Depreciation of property, plant and equipment&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;554,227&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;493,800&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt;Inventory write-down&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;3,687,349&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,531,750&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Bad debt provision&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;349,466&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,518,953&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Government grants related to assets&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;320,960&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;423,938&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Long-lived asset impairment&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;19,810,832&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;22,590,196&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Others&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 390,491&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 290,652&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Sub-total&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;39,098,234&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;56,633,867&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Valuation Allowance&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (37,682,733&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (56,633,867&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 1,415,501&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Deferred tax assets are analyzed as:&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt;Current&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;358,435&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt;Non-current&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,057,066&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group uses the asset and liability method to record related deferred tax assets and liabilities. In assessing the reliability of deferred tax assets, the Group considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Based on the continuous operating losses suffered and the level of projections for future taxable income over the periods in which the deferred tax assets are deductible, the Group believes it is not more likely than not that the Group will realize the benefits of these deductible differences of Chongqing Daqo and Xinjiang Daqo as at December&amp;nbsp;31, 2013. The amount of the deferred tax asset considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry-forward period are reduced. Xinjiang Daqo and Chongqing Daqo had net operating losses carried forward of approximately $12,894,429 and $106,243,882, respectively, which would expire if not used before December 31, 2018.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The effective income tax rate of the Group is different from the expected PRC statutory rate as a result of the following items:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year&amp;nbsp;ended&amp;nbsp;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 55%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; PRC Enterprise Income Tax&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;25&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;25&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;25&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Preferential income tax rate of a subsidiary&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(12&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(9&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(2&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Effect of different reversal rate&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(14&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;8&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;3&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Additional tax deductions&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(1&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt;Non-deductible expenses&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Different tax rate in other jurisdictions&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;2&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(1&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Changes in valuation allowance&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(35&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(26&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Prior year adjustment&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 2&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Effective tax rate&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 2&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; (10&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; (1&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The aggregate amount and per share effect of the tax holiday are as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year&amp;nbsp;ended&amp;nbsp;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center" colspan="2"&gt;$&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center" colspan="2"&gt;$&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center" colspan="2"&gt;$&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 55%; TEXT-ALIGN: left"&gt;The aggregate dollar effect (in thousands)&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;4,388&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;Per share effect-basic&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;0.02&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;Per share effect-diluted&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;0.02&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
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  <us-gaap:InterestPayableCurrent id="InterestPayableCurrent.5240.0.0.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.0.0.0.0.0.0" unitRef="USD" decimals="0">612968</us-gaap:InterestPayableCurrent>
  <us-gaap:InventoryDisclosureTextBlock id="InventoryDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;6. INVENTORIES&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Inventories consist of the following:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Raw materials&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;976,374&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;2,084,050&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Work-in-process&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;5,759,153&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;4,666,821&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Finished goods&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 8,399,995&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 3,749,385&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 15,135,522&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 10,500,256&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Inventory write-down was $14,252,701, $14,821,620 and $221,025 for the years ended December&amp;nbsp;31, 2011, 2012 and 2013, respectively.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:InventoryDisclosureTextBlock>
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  <us-gaap:InventoryPolicyTextBlock id="InventoryPolicyTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(h) Inventories&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Inventories are stated at lower of cost or market. Costs are determined using weighted average costs. Costs comprise direct materials, direct labor and overhead costs incurred in bringing the inventories to their present location and condition. The Group writes down the cost of excess inventories to the estimated market value based on historical and forecasted demand. Estimated market value is measured as the estimated selling price of each class of inventory in the ordinary course of business less estimated costs of completion and disposal. The charges to inventory for the years ended December&amp;nbsp;31, 2011, 2012 and 2013 were $14,252,701, $ 14,821,620 and $29,905,734, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group has outsourced portions of its manufacturing process, including cutting ingots into wafers, and converting wafers into solar cells, to various third-party manufacturers. These outsourcing arrangements may or may not include transfer of title of the raw material inventory (ingots, wafers or cells) to the third-party manufacturers.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; For those outsourcing arrangements in which title does not transfer, the Group maintains the inventory in the balance sheet as raw materials inventory while it is in physical possession of the third-party manufacturers. Upon receipt of the processed inventory from the third-party manufacturers, it is reclassified to work-in-progress inventory with the processing fee capitalized as cost of inventory.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; For those outsourcing arrangements in which title (including risk of loss) does transfer to the third-party manufacturer, the Group is contractually obligated to repurchase the processed inventory. To accomplish this, it enters into raw material sales agreements and processed inventory purchase agreements simultaneously with the third-party manufacturer. In such instances, where they are, in substance tolling arrangements, the Group retains the inventory in the consolidated balance sheets while it is in the physical possession of the third-party manufacturer. The cash received from the third-party manufacturer is recorded as a current liability on the balance sheet rather than revenue or deferred revenue. Upon receipt of the processed inventory, it is reclassified from raw materials to work-in-progress inventory and the processing fee paid to the third-party manufacturer is added to inventory cost. Cash payments for outsourcing arrangements which require prepayment for repurchase of the processed inventory are classified as current assets on the balance sheet. If there is no legal right of offset established by these arrangements, the associated assets and liabilities are presented separately on the balance sheet until the processed inventory is returned to the Group.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:InventoryPolicyTextBlock>
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  <us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity id="LineOfCreditFacilityRemainingBorrowingCapacity.5240.40338.3141.0.0.0.0.4078" contextRef="as-of-2012-12-31.5240.0.40338.3141.0.0.0.0" unitRef="CNY" decimals="-6">20000000</us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity>
  <us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock id="LoansNotesTradeAndOtherReceivablesDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;4. ALLOWANCES FOR DOUBTFUL RECEIVABLES&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Company made provisions for doubtful accounts receivables in the aggregate amount of $1,202,940, $359,733 and $5,482,019 during the year ended December 31, 2011, 2012 and 2013, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Analysis of allowances for accounts receivable is as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 55%; TEXT-ALIGN: left"&gt;Beginning of the year&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;1,202,940&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;1,592,467&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Allowances made during the year&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,202,940&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;359,733&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;5,482,019&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Foreign exchange effect&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 29,794&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 86,296&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Closing balance&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1,202,940&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1,592,467&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 7,160,782&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; 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  <us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock id="OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;1. ORGANIZATION AND PRINCIPAL ACTIVITIES&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The consolidated financial statements include the financial statements of Daqo New Energy Corp. (the "Company"), its wholly owned subsidiaries, Chongqing Daqo New Energy Co., Ltd. ("Chongqing Daqo"), Nanjing Daqo New Energy Co., Ltd. ("Nanjing Daqo") (which was disposed to Daqo Group Co., Ltd. ("Daqo Group") on September 28, 2012), Xinjiang Daqo New Energy Co., Ltd ("Xinjiang Daqo"), Daqo Solar Energy North America ("Daqo America") (which was liquidated in 2013) and Daqo New Energy Holdings (Canada) Ltd.("Daqo Canada") (which was liquidated in 2013) and its consolidated variable interest entity ("VIE") Daqo New Material Co., Ltd. ("Daqo New Material") (which was deconsolidated on December 31, 2013) (collectively, the "Group").&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Company was incorporated on November&amp;nbsp;22, 2007 in the Cayman Islands. Chongqing Daqo, Nanjing Daqo and Xinjiang Daqo were incorporated by the Company on January&amp;nbsp;14, 2008, December&amp;nbsp;20, 2007 and February&amp;nbsp;22, 2011, respectively, in the Peoples&amp;#39; Republic of China ("PRC"). Daqo America was incorporated by the Company in January 2009, in California, USA. Daqo Canada was incorporated by the Company in April 2011, in Hamilton, Ontario, Canada.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Daqo New Material and the Company were under common control by Daqo New Material&amp;#39;s ultimate shareholders prior to November 11, 2009. Daqo New Material was established by Daqo Group, an affiliate of the Company on November&amp;nbsp;16, 2006, for the primary purpose of developing a photovoltaic business. Daqo New Material&amp;#39;s activities included acquiring land use rights and constructing certain polysilicon production infrastructure, including buildings and production machinery and equipment. Chongqing Daqo acquired additional machinery and equipment that are used in connection with Daqo New Material&amp;#39;s land and production infrastructure.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Subsequent to its establishment, Chongqing Daqo entered into a lease agreement with Daqo New Material to rent all of Daqo New Material&amp;#39;s land, production infrastructure and machinery and equipment for the Group&amp;#39;s polysilicon production. The lease period is from July&amp;nbsp;1, 2008 to December&amp;nbsp;31, 2013, with monthly lease payments that have been renegotiated periodically and are eliminated in consolidation. The lease agreement also provided that if Daqo New Material transferred the ownership of the leased assets to any third party, the lease agreement would remain effective and enforceable against the new owner. One month before the expiry of the lease period, Chongqing Daqo had the option to renew the lease on the same terms and conditions for an additional five-year periods. Furthermore, Chongqing Daqo has the option to purchase, or to designate any person to purchase, the leased assets at the then fair value at any time during the lease period or within one year following the lease period, if permitted by the PRC laws and regulations. If Daqo New Material desires to transfer the ownership of the leased assets to a third party, Chongqing Daqo has the right of first refusal to acquire the leased assets under the same conditions. If the leased assets are transferred to a third party, the lease agreement will remain effective and enforceable against the new owner.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Because the aggregate value of the monthly rental payments that Chongqing Daqo is contractually obligated to make to Daqo New Material represents the majority of the value of Daqo New Material&amp;#39;s assets, Chongqing Daqo has the majority of investment risk in Daqo New Material. Further, the Group has concluded that the arrangement results in Chongqing Daqo providing an implicit guarantee to protect Daqo Group from absorbing losses incurred by Daqo New Energy, thus Daqo New Material is considered to be a variable interest entity of Chongqing Daqo. Furthermore, the operating activities of Daqo New Material are most closely associated with Chongqing Daqo and the management of Chongqing Daqo also acts as the management of Daqo New Material. Based on these factors, Chongqing Daqo has the power to control Daqo New Material and is considered the primary beneficiary of Daqo New Material. The assets and liabilities of Daqo New Material are consolidated at historical cost given they were held by entities under common control at the time of the lease agreement. Daqo Group&amp;#39;s total equity interests in Daqo New Material are presented as a noncontrolling interest.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; On December 31, 2013, Chongqing Daqo and Daqo New Material terminated the lease agreement. As a result, the Company deconsolidated Daqo New Material on December 31, 2013. As of December 31, 2013, the Company is in the process of relocating significant production assets from Daqo New Material to its Xinjiang plant.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In the periods presented, the Company manufactured and sold polysilicon and wafers through Chongqing Daqo and Xinjiang Daqo, and sold modules through Nanjing Daqo before September 28, 2012 when Nanjing Daqo was sold to the Daqo Group.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock>
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  <us-gaap:OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent id="OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent.5245.3923.136.40374.5169.0.0" xsi:nil="true" contextRef="from-2011-01-01-to-2011-12-31.5245.0.3923.136.40374.5169.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:OtherCurrentAssetsTextBlock id="OtherCurrentAssetsTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;5. PREPAID EXPENSE AND OTHER CURRENT ASSETS&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Prepaid expense and other current assets consist of the following:&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Spare parts&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;3,975,860&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;6,264,805&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Prepaid Value added tax ("VAT")&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;18,705,984&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;13,546,880&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Prepaid insurance fee&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;471,721&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,016,625&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Others&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 780,402&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 3,042,380&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 23,933,967&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 23,870,690&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; 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  <us-gaap:PropertyPlantAndEquipmentAdditions id="PropertyPlantAndEquipmentAdditions.6836.4759.5162.0.0.0.0" contextRef="from-2014-01-01-to-2014-12-31.6836.0.4759.5162.0.0.0.0" unitRef="USD" decimals="-6">100000000</us-gaap:PropertyPlantAndEquipmentAdditions>
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock id="PropertyPlantAndEquipmentDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;7. PROPERTY, PLANT AND EQUIPMENT, NET&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Property, plant and equipment, net, consist of the following:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt;Cost&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Buildings and plant&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;437,805,571&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;235,690,310&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Machinery and equipment&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;344,782,948&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;355,429,034&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Furniture, fixtures and equipment&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;9,233,575&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;21,329,752&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Motor vehicles&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;519,923&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;262,562&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Less: Accumulated depreciation&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (133,746,851&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (145,031,744&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Property, plant and equipment, net&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;658,595,166&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;467,679,944&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Construction in process&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 19,300,108&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 20,824,239&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 677,895,274&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 488,504,183&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Depreciation expense was $35,479,645, $37,371,791 and $52,250,595 for the years ended December&amp;nbsp;31, 2011, 2012 and 2013, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Due to the challenging solar market conditions resulting in lower ASP for polysilicon and wafers, combined with structural cost issues at Chongqing Daqo, the Company recognized impairments for long-lived assets of &lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;$38,512,376, $42,754,481 and $158,424,827 during the years ended December 31, 2011, 2012 and 2013, respectively.&lt;/font&gt;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
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  <us-gaap:PropertyPlantAndEquipmentPolicyTextBlock id="PropertyPlantAndEquipmentPolicyTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(i) Property, plant and equipment&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Property, plant and equipment are recorded at cost less accumulated depreciation. Depreciation is recognized on a straight-line basis over the following estimated useful lives:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.6in" cellspacing="0" cellpadding="0"&gt; &lt;tr&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 82%"&gt; Buildings and plant&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; WIDTH: 18%"&gt; 20&amp;nbsp;years&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"&gt; Machinery and equipment&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 10 years&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"&gt; Furniture, fixtures and equipment&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 3-5&amp;nbsp;years&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"&gt; Motor vehicles&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 6 years&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Costs incurred on construction are capitalized and transferred to property, plant and equipment upon completion, at which time depreciation commences.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Interest expense incurred for construction of property, plant, and equipment is capitalized as part of the cost of such assets. The Company capitalizes interest to the extent that expenditures to construct an asset have occurred and interest costs have been incurred. Interest expense capitalized for the years ended December&amp;nbsp;31, 2011, 2012 and 2013 was $3,429,496, $7,245,747 and $nil, respectively.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
  <us-gaap:PropertyPlantAndEquipmentTextBlock id="PropertyPlantAndEquipmentTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Property, plant and equipment, net, consist of the following:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt;Cost&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Buildings and plant&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;437,805,571&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;235,690,310&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Machinery and equipment&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;344,782,948&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;355,429,034&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Furniture, fixtures and equipment&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;9,233,575&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;21,329,752&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Motor vehicles&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;519,923&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;262,562&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Less: Accumulated depreciation&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (133,746,851&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (145,031,744&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Property, plant and equipment, net&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;658,595,166&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;467,679,944&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Construction in process&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 19,300,108&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 20,824,239&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 677,895,274&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 488,504,183&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentTextBlock>
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  <us-gaap:PropertyPlantAndEquipmentUsefulLife id="PropertyPlantAndEquipmentUsefulLife.5243.2394.4272.3373.4365.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.2394.4272.3373.4365.0.0">P5Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
  <us-gaap:PropertyPlantAndEquipmentUsefulLife id="PropertyPlantAndEquipmentUsefulLife.5243.743.4272.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.743.4272.0.0.0.0">P20Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
  <us-gaap:PropertyPlantAndEquipmentUsefulLife id="PropertyPlantAndEquipmentUsefulLife.5243.3309.4272.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.3309.4272.0.0.0.0">P10Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
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RELATED PARTY TRANSACTIONS AND BALANCES&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 23pt"&gt;&lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;(1) &amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;The relationships between the Group and related party are as follows:&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="WIDTH: 52%"&gt; &lt;p style="BORDER-BOTTOM: black 0.75pt solid; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Name of the related party&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="WIDTH: 2%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 46%"&gt; &lt;p style="BORDER-BOTTOM: black 0.75pt solid; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Relationship&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"&gt; Daqo Group&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; An affiliated company representing the parent company of Daqo New Material holding 100% equity ownership of Daqo New Material. Daqo Group and the Company are controlled by same group of shareholders.&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="VERTICAL-ALIGN: top"&gt;&lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;Zhengjiang&amp;nbsp;Daqo&amp;nbsp;Solar&amp;nbsp;Co.&amp;nbsp;Ltd("Zhenjiang&amp;nbsp;Daqo)&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; An affiliated company which is 100% held by Daqo Group&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="VERTICAL-ALIGN: top"&gt;&lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;Daqo Solar Co. Ltd ("Daqo Solar")&lt;/font&gt; &lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; An affiliated company which is 100% held by Daqo Group&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"&gt; Nanjing Daqo&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; An affiliated company which was 100% held by the Company before September 28, 2012 and is 100% held by Daqo Group since September 28, 2012&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"&gt; Daqo Xinjiang Investment Co., Ltd. ("Xinjiang Daqo Investment")&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; An affiliated company which is 100% held by Daqo Group&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 23pt"&gt;&lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;(2) &amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;Related party balances:&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The balance with Daqo Group and its subsidiaries was as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The balances due from related parties mainly include the consideration for the transfer of 100% ownership of Nanjing Daqo to Daqo Group amount due from Zhenjiang Daqo for the sales of wafer and polysilicon. Such balances are unsecured, interest-free, and are payable on demand. The balances are as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Amount due from related party&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Zhenjiang Daqo&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;10,744&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;6,898,980&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Daqo Group&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;6,440,129&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;6,465,561&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Others&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 111,614&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 51,911&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 6,562,487&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 13,416,452&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Balances due to related parties related to interest free loans received primarily for working capital purposes from Daqo Solar and Xinjiang Daqo Investment, wholly-owned subsidiaries of Daqo Group. The balances are payable on demand and are as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Amount due to related party&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Daqo Group&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;5,359,007&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;461,796&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Xinjiang Daqo Investment&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;2,354,620&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;18,482,300&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Nanjing Daqo&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,645,923&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,651,810&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Daqo Solar&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;13,497,973&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;66,750,009&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Others&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 850,840&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,191,875&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 23,708,363&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 88,537,790&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 23pt"&gt;(3)&lt;/td&gt; &lt;td&gt;The transactions with Daqo Group and its subsidiaries were as follows:&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt; Transaction&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year Ended December 31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold" nowrap="nowrap"&gt;Name of Related parties&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold"&gt; Nature&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 15%"&gt;Daqo Group&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; WIDTH: 30%"&gt;Sales&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 15%"&gt; 1,971&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 15%"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 15%"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Purchase-Fixed asset&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;15,787,658&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;7,849,533&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Financing-cash in&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;3,095,120&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;813,105&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Financing-cash out&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;3,095,120&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;813,105&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Disposition of 100% equity interest of Nan Jing Daqo&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;9,888,742&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&amp;nbsp;Zhenjiang Daqo&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Sales&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;6,958,317&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;2,799,428&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;13,471,866&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Purchase of cells&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;3,314,115&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Processing fee&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;1,209,769&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Daqo Solar&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Purchase-Fixed asset&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;20,562,272&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Prepayment received&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;13,497,973&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Financing-cash in&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;72,199,600&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;76,881,392&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Financing-cash out&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;72,199,600&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;28,379,678&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Interest charged&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;1,552,126&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Short-term interest free loan extended to Daqo Solar&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;9,898,458&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&amp;nbsp;Nanjing Daqo&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Sales&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;80,126&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Related party interest bearing loan&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;1,584,820&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Interest charged&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;40,611&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Xinjiang Daqo Investment&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Prepayment received&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;2,354,620&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Financing-cash in&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;58,389,643&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Financing-cash out&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;40,193,785&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Others subsidiaries under Daqo Group&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Sales&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;427,302&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Purchase-Fixed asset&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;2,027,001&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;202,556&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;157,742&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Purchase-Raw material&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;300,574&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;5,282&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Rental expense&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;612,856&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt; Service expense&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 71,426&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt"&gt;Total&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt"&gt;Sales&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 7,387,590&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 2,799,427&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 13,471,866&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Disposition of 100% equity interest in Nanjing Daqo&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 9,888,742&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt"&gt;Purchase-Fixed asset&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 38,376,931&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 8,052,089&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 157,742&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt"&gt;Purchase-Raw material&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 3,614,689&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 5,282&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Processing fee&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 1,209,769&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Rental expense&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 612,856&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Service expense&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 71,426&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Interest expense&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 1,552,126&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 40,611&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Prepayment received*&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 15,852,593&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Proceeds from interest free loans&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 75,294,720&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 1,584,820&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 136,084,140&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Repayment of interest free loans&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 85,193,178&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 69,386,568&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt;* Prepayment has been considered a related party loan given there has been no deliveries since the prepayment was provided.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;&lt;u&gt;Related party transactions with Daqo Group&lt;/u&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2011, the Group purchased auxiliary electricity transmission and system equipment totaling $15.8 million from Daqo Group. Daqo Group and its subsidiaries are mainly engaged in High-Low-voltage Electrical System, Components, Environmental Protection, and High-speed Railway Equipment.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2011, the Company received an interest fee loan of $3,095,120 from Daqo Group, which was fully repaid during the year.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2012, the Company sold 100% equity interest in Nanjing Daqo to Daqo Group for a consideration of $9,888,742 and $5,110,085 was owed by Daqo Group as of December 31, 2012. In addition, the Company purchased fixed assets totaling $7,849,533 from Daqo Group and had $5,359,007 due to Daqo Group as of December 31, 2012. Furthermore, $1,330,044 was prepaid to purchase fixed assets separately as of December 31, 2012.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2013, the Company received an interest free loan of $813,105 from Daqo Group, which was fully repaid during the year.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;&lt;u&gt;Related party transactions with Zhenjiang Daqo&lt;/u&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2011, the Company sold $6,958,317 wafers, and purchased cells of $3,314,115, and paid processing fees of $1,209,769 to Zhenjiang Daqo for tolling arrangements on cells.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2012, the Company sold wafers totaling of $ 2,179,723 and polysilicon of $619,705 to Zhenjiang Daqo.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2013, the Company sold wafers totaling of $8,871,220 and polysilicon of $4,600,646 to Zhenjiang Daqo.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;&lt;u&gt;Related party transactions with Daqo Solar&lt;/u&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2011, the Company received loans of $72,199,600 from Daqo Solar, which were fully repaid during the year and accrued interest of $1,552,126. As of December&amp;nbsp;31, 2011, the Company provided an interest free loan of $9,898,458 to Daqo Solar.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2012, the Company entered into a polysilicon sales contract with Daqo Solar, and $13,497,973 payment in advance was received as of December 31, 2012. The prepayment was transfer to an interest free loan in 2013.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2013, the Company received interest free loans of $76,881,392 from Daqo Solar and repaid $28,379,678 during the year.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0px"&gt; &lt;strong&gt;&lt;u&gt;Related party transactions with Xinjiang Daqo Investment&lt;/u&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2012, the Company entered into a polysilicon sales contract with Xinjiang Daqo Investment, and $2,354,620 payment in advance was received as of December 31, 2012.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2013, the Company received interest free loans of $58,389,643 from Xinjiang Daqo Investment and repaid $40,193,785 during the year.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;&lt;u&gt;Related party transactions with Nanjing Daqo&lt;/u&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In August 2012, the Company entered into a one-year loan agreement with Nanjing Daqo, of $1,584,820 (RMB10 million). The interest rate is fixed at 6%. In addition, the Company sold cells of $80,126 to Nanjing Daqo.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2013, the Company agreed with Nanjing Daqo to extend the loan for one more year, interest free.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;&lt;u&gt;Related party transactions with other subsidiaries of Daqo Group&lt;/u&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2011, the Group purchased auxiliary electricity transmission and system equipment of $2.0 million from Daqo Group subsidiaries. The Group also sold modules of $427,302 to, purchased raw materials of $300,574 from and paid service fees of $71,426 to other subsidiaries of Daqo Group.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2012, the Company purchased equipment and raw material from other subsidiaries of Daqo Group at the cost of $ 202,556 and $ 5,282, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In 2013, the Company purchase equipment from other subsidiaries of Daqo Group at the cost of $157,742.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
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TEXT-ALIGN: center" colspan="6"&gt;&lt;strong&gt;December&amp;nbsp;31,&lt;/strong&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt; &lt;p style="BORDER-BOTTOM: black 0.75pt solid; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Accounts&lt;br /&gt; receivable&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="2"&gt;&lt;strong&gt;2012&lt;/strong&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="2"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"&gt; Customer A&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 12,529,889&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; *&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="BACKGROUND-COLOR: white"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"&gt; Customer D&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right"&gt; 3,568,910&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right"&gt;&lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;3,673,455&lt;/font&gt; &lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"&gt; Customer C&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; *&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 1,225,831&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="BACKGROUND-COLOR: white"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"&gt; Customer K&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; -&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 1,507,576&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;!-- Field: Rule-Page --&gt; &lt;div style="BORDER-TOP: black 1pt solid; FONT-SIZE: 1pt; MARGIN-BOTTOM: 1pt; MARGIN-TOP: 3pt; text-align: left; WIDTH: 20%"&gt; &amp;nbsp;&lt;/div&gt; &lt;!-- Field: /Rule-Page --&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; *&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 97%"&gt; Represents less than 10%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock>
  <us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock id="ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Accrued expenses and other current liabilities consist of the following:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left"&gt;Accrued payroll and welfare&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;2,526,701&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;2,588,312&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Accrued professional fees&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;700,000&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;624,825&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Other tax payable&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,830,815&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,378,963&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Interest payable&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;612,968&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;305,087&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Government subsidy&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;882,640&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;908,496&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;Others&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,064,331&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,655,938&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 7,617,455&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 7,461,621&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock>
  <us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock id="ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Income tax expenses comprise:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.65in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year&amp;nbsp;ended&amp;nbsp;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 55%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Current Tax Expenses (Benefit)&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;20,647,400&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;(1,894,736&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;(162,621&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Deferred Tax Expenses (Benefit)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (19,933,128&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 12,148,323&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,434,386&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 714,272&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 10,253,587&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 1,271,765&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
  <us-gaap:ScheduleOfDebtTableTextBlock id="ScheduleOfDebtTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group&amp;#39;s bank borrowings consisted of the following:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Short-term bank borrowings&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;49,748,800&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;39,643,440&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Long-term bank borrowings, current portion&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;69,006,400&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;50,049,843&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Other short-term borrowing&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,524,560&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 29,177,574&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total borrowings, current&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;120,279,760&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;118,870,857&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Long-term bank borrowings, non-current portion&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 187,520,880&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 134,870,287&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 307,800,640&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 253,741,144&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfDebtTableTextBlock>
  <us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock id="ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The principal components of deferred income tax assets and liabilities are as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.65in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Net operating loss carried forward&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;13,984,909&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;29,784,578&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Depreciation of property, plant and equipment&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;554,227&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;493,800&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt;Inventory write-down&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;3,687,349&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,531,750&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Bad debt provision&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;349,466&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,518,953&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Government grants related to assets&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;320,960&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;423,938&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Long-lived asset impairment&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;19,810,832&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;22,590,196&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Others&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 390,491&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 290,652&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Sub-total&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;39,098,234&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;56,633,867&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Valuation Allowance&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (37,682,733&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (56,633,867&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 1,415,501&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Deferred tax assets are analyzed as:&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt;Current&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;358,435&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt;Non-current&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,057,066&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
  <us-gaap:ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock id="ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; The discontinued operations were retrospectively reflected for all the prior years presented in the consolidated statements of operations. The operating results reported as discontinued operations for the years ended December 31, 2011, 2012 and 2013, are summarized as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 55%"&gt;Revenues&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;29,082,384&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;6,454,830&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Operating costs and expenses&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (36,943,483&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (9,946,357&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Loss from discontinued operations before income taxes&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(7,861,099&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(3,491,527&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Income tax benefit&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 2,003,289&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Loss from discontinued operations&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (5,857,810&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (3,491,527&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock>
  <us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock id="ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The calculation of earnings per share is as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt;Numerator used in basic and diluted earnings per share:&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="WIDTH: 61%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders-basic and diluted&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 33,323,952&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (111,928,891&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (70,943,484&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt;Denominator used in basic and diluted earnings per share:&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;Share options&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Weighted average number of ordinary shares outstanding used in computing earnings per share-basic and diluted&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 175,714,103&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 175,067,343&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 173,068,420&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;NET INCOME (LOSS) ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE-Basic and Diluted&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 0.19&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; (0.64&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; (0.41&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
  <us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock id="ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The effective income tax rate of the Group is different from the expected PRC statutory rate as a result of the following items:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year&amp;nbsp;ended&amp;nbsp;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 55%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; PRC Enterprise Income Tax&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;25&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;25&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;25&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Preferential income tax rate of a subsidiary&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(12&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(9&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(2&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Effect of different reversal rate&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(14&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;8&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;3&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Additional tax deductions&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(1&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt;Non-deductible expenses&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Different tax rate in other jurisdictions&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;2&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(1&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Changes in valuation allowance&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(35&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(26&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Prior year adjustment&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 2&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Effective tax rate&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 2&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;%&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; (10&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; (1&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;)%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
  <us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock id="ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; For the years ended December&amp;nbsp;31, 2011, 2012 and 2013, the Group recognized share-based compensation expense of $2,206,025, $2,249,834 and $1,881,401 respectively, which was classified as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 61%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Selling, general and administrative expenses&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;2,068,115&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;2,018,817&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;1,743,768&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Research and development expenses&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;75,508&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;175,242&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;60,987&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Cost of sales&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 62,402&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 55,775&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 76,646&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 2,206,025&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 2,249,834&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 1,881,401&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock>
  <us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock id="ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Future minimum lease payments are as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 1in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="TEXT-ALIGN: left" nowrap="nowrap"&gt;Year ending December&amp;nbsp;31&lt;/td&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;USD&lt;/td&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 80%; TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"&gt; 2014&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 17%; TEXT-ALIGN: right"&gt;1,121,476&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"&gt; 2015&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,073,299&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"&gt; 2016&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,073,299&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 3,268,074&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock>
  <us-gaap:ScheduleOfInventoryCurrentTableTextBlock id="ScheduleOfInventoryCurrentTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Inventories consist of the following:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Raw materials&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;976,374&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;2,084,050&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Work-in-process&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;5,759,153&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;4,666,821&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Finished goods&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 8,399,995&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 3,749,385&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 15,135,522&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 10,500,256&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfInventoryCurrentTableTextBlock>
  <us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock id="ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The principal maturities of these long-term bank borrowings as of December&amp;nbsp;31, 2013 are as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif"&gt; &lt;strong&gt;December&amp;nbsp;31,&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Amount&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 85%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; 2014&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;50,049,843&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; 2015&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;77,056,937&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; 2016&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 57,813,350&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 184,920,130&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock>
  <us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock id="ScheduleOfRelatedPartyTransactionsTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;table style="MARGIN-BOTTOM: 0pt; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td&gt;The transactions with Daqo Group and its subsidiaries were as follows:&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt; Transaction&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year Ended December 31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold" nowrap="nowrap"&gt;Name of Related parties&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold"&gt; Nature&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 15%"&gt;Daqo Group&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; WIDTH: 30%"&gt;Sales&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 15%"&gt; 1,971&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 15%"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 15%"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Purchase-Fixed asset&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;15,787,658&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;7,849,533&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Financing-cash in&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;3,095,120&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;813,105&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Financing-cash out&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;3,095,120&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;813,105&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Disposition of 100% equity interest of Nan Jing Daqo&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;9,888,742&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&amp;nbsp;Zhenjiang Daqo&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Sales&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;6,958,317&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;2,799,428&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;13,471,866&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Purchase of cells&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;3,314,115&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Processing fee&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;1,209,769&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Daqo Solar&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Purchase-Fixed asset&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;20,562,272&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Prepayment received&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;13,497,973&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Financing-cash in&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;72,199,600&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;76,881,392&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Financing-cash out&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;72,199,600&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;28,379,678&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Interest charged&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;1,552,126&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Short-term interest free loan extended to Daqo Solar&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;9,898,458&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&amp;nbsp;Nanjing Daqo&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Sales&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;80,126&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Related party interest bearing loan&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;1,584,820&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Interest charged&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;40,611&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Xinjiang Daqo Investment&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Prepayment received&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;2,354,620&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Financing-cash in&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;58,389,643&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Financing-cash out&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;40,193,785&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Others subsidiaries under Daqo Group&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Sales&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;427,302&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Purchase-Fixed asset&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;2,027,001&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;202,556&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;157,742&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt"&gt;Purchase-Raw material&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;300,574&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;5,282&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt;Rental expense&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;612,856&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt; Service expense&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 71,426&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt"&gt;Total&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt"&gt;Sales&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 7,387,590&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 2,799,427&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 13,471,866&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Disposition of 100% equity interest in Nanjing Daqo&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 9,888,742&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt"&gt;Purchase-Fixed asset&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 38,376,931&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 8,052,089&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 157,742&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt"&gt;Purchase-Raw material&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 3,614,689&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 5,282&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Processing fee&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 1,209,769&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Rental expense&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 612,856&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Service expense&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 71,426&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Interest expense&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 1,552,126&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 40,611&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Prepayment received*&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 15,852,593&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Proceeds from interest free loans&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 75,294,720&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 1,584,820&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 136,084,140&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Repayment of interest free loans&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 85,193,178&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"&gt; 69,386,568&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 8pt"&gt;&amp;nbsp;&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt;* Prepayment has been considered a related party loan given there has been no deliveries since the prepayment was provided.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock>
  <us-gaap:ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock id="ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The following customers accounted for 10% or more of revenues:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 1in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 52%; TEXT-ALIGN: left"&gt;Customer A&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 13%; TEXT-ALIGN: right"&gt;28,219,079&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 13%; TEXT-ALIGN: right"&gt;21,749,284&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 13%"&gt; *&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Customer B&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;27,214,590&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Customer D&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;33,140,475&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Customer G&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;28,570,338&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Customer I&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;19,644,488&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Customer L&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;13,471,873&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;!-- Field: Rule-Page --&gt; &lt;div style="BORDER-TOP: black 1pt solid; FONT-SIZE: 1pt; text-align: left; WIDTH: 20%"&gt; &amp;nbsp;&lt;/div&gt; &lt;!-- Field: /Rule-Page --&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-RIGHT: 0.8pt; WIDTH: 2%"&gt; *&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-RIGHT: 0.8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-RIGHT: 0.8pt; WIDTH: 97%"&gt; Represents less than 10%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock>
  <us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock id="ScheduleOfSegmentReportingInformationBySegmentTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The following table summarizes the Group&amp;#39;s revenue by segment:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"&gt;Year ended December&amp;nbsp;31, 2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Polysilicon&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Wafer&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Elimination&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 48%; TEXT-ALIGN: left"&gt;Revenue - External&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;218,915,487&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;13,254,092&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;232,169,579&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Revenue - Intersegment&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,696,573&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (1,696,573&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Total revenue&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 220,612,060&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 13,254,092&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (1,696,573&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 232,169,579&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Total Cost&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 125,962,033&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 20,680,565&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (1,696,573&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 144,946,025&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Gross profit (loss)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 94,650,027&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (7,426,473&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 87,223,554&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"&gt;Year ended December&amp;nbsp;31, 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Polysilicon&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Wafer&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Elimination&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 48%; TEXT-ALIGN: left"&gt;Revenue - External&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;73,450,807&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;13,407,594&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;86,858,401&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Revenue - Intersegment&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 6,067,339&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (6,067,339&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Total revenue&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;79,518,146&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;13,407,594&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(6,067,339&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;86,858,401&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Total Cost&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 110,243,043&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 20,114,680&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (6,067,339&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 124,290,384&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Gross profit (loss)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (30,724,897&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (6,707,086&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (37,431,983&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"&gt;Year ended December&amp;nbsp;31, 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Polysilicon&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Wafer&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Elimination&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 48%; TEXT-ALIGN: left"&gt;Revenue - External&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;76,721,105&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;32,278,700&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;108,999,805&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Revenue - Intersegment&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 13,195,838&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (13,195,838&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Total revenue&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;89,916,943&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;32,278,700&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(13,195,838&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;108,999,805&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Total Cost&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 98,684,325&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 49,614,921&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (13,195,838&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 135,103,408&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Gross profit (loss)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (8,767,382&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (17,336,221&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (26,103,603&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock id="ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; A summary of the aggregate option activity and information regarding options outstanding as of December&amp;nbsp;31, 2012 is as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Number&amp;nbsp;of&lt;br /&gt; Options&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Exercise&lt;br /&gt; Price&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Remaining&lt;br /&gt; Contract&amp;nbsp;Life&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Aggregate&lt;br /&gt; Intrinsic&lt;br /&gt; Value&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 40%; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"&gt; Options outstanding on January&amp;nbsp;1, 2013 (after modification of exercise price)&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;7,179,500&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;0.25&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-LEFT: 9pt"&gt;Granted&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;140,000&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;0.25&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-LEFT: 9pt"&gt;Forfeited&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(304,912&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;0.25&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-LEFT: 9pt"&gt;Expired&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(92,918&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;0.25&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt"&gt;Exercised&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; (550,420&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 0.25&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"&gt; Options outstanding on December&amp;nbsp;31, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 6,371,250&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 0.25&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 6.42&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"&gt; Options vested or expected to vest on December&amp;nbsp;31, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 5,915,969&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 0.25&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 6.37&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"&gt; Options exercisable on December&amp;nbsp;31, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 5,364,292&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 0.25&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 6.43&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock id="ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The following assumptions were used in the Binomial option pricing model:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18"&gt;Year Ended December&amp;nbsp;31, 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"&gt; Options&lt;br /&gt; granted&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Average&lt;br /&gt; risk-free&lt;br /&gt; rate of&lt;br /&gt; return&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Exercise&lt;br /&gt; multiple&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Volatility&lt;br /&gt; rate&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Dividend&lt;br /&gt; yield&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Post-&lt;br /&gt; vesting&lt;br /&gt; forfeiture&lt;br /&gt; rate&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 35%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; January 9, 2012&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: center"&gt;2.05%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center; WIDTH: 10%" nowrap="nowrap"&gt;2.2 ~ 3.0 times&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: center"&gt;58.7%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: center"&gt;0%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: center"&gt;3-9.5%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18"&gt;Year Ended December&amp;nbsp;31, 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"&gt; Options&lt;br /&gt; granted&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Average&lt;br /&gt; risk-free&lt;br /&gt; rate of&lt;br /&gt; return&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Exercise&lt;br /&gt; multiple&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Volatility&lt;br /&gt; rate&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Dividend&lt;br /&gt; yield&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;Post-&lt;br /&gt; vesting&lt;br /&gt; forfeiture&lt;br /&gt; rate&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 35%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; April 3, 2013&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;2.29%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"&gt; 2.8 times&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: center"&gt;51.78%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: center"&gt;0%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: center"&gt;3%&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock>
  <us-gaap:ScheduleOfShortTermDebtTextBlock id="ScheduleOfShortTermDebtTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group&amp;#39;s short-term bank borrowing consisted of the following:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 70%; TEXT-ALIGN: left"&gt;Short-term borrowing guaranteed by Daqo Group&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;1,604,800&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;28,080,770&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.125in; TEXT-INDENT: -0.125in"&gt; Short-term borrowing guaranteed by Daqo Group and Mr.&amp;nbsp;Guangfu Xu and Mr.&amp;nbsp;Xiang Xu&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;48,144,000&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Short-term borrowing guaranteed by Daqo Group and a third party&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 11,562,670&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 49,748,800&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 39,643,440&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfShortTermDebtTextBlock>
  <us-gaap:ScheduleOfVariableInterestEntitiesTextBlock id="ScheduleOfVariableInterestEntitiesTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Daqo New Material leased all of its assets for use in the Group&amp;#39;s operations. Significant assets, liabilities, revenues, operating costs and expenses and net income of the VIE are as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 74%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Cash&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;189,312&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Property, plant and equipment&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;162,396,825&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Prepaid land use rights&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;6,632,643&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total Assets&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;173,450,176&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Short-term borrowings, including current portion of long-term borrowings&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;19,257,600&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Accrued expenses and other current liabilities&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;512,708&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Amount due to related party&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;467,568&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt;Long-term borrowings&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;14,443,200&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total Liabilities&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;34,678,046&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 61%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Revenues*&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;16,852,928&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;10,743,336&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;**&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Operating costs and expenses&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;15,262,768&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;14,451,810&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;150,147,024&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Net income (loss)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1,590,160&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(3,708,474&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(150,147,024&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; *Rental income, eliminated in consolidation.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; ** The lease term was amended at the beginning of 2013 and reduced the rent to 0 per month and was later terminated on December 30, 2013.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfVariableInterestEntitiesTextBlock>
  <us-gaap:SegmentReportingDisclosureTextBlock id="SegmentReportingDisclosureTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;19. SEGMENT INFORMATION&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group&amp;#39;s chief operating decision maker has been identified as the chief executive officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. Following the further expansion of module business and entering into the wafer business in 2011, the Group operated and viewed its performance in three segments. However, on September 28, 2012, the module business was disposed (see Note 3). Therefore, only two segments remained in 2012 and 2013 and the segment information in prior years was restated to be consistent with the current year reportable segments. The following tables summarized the Company&amp;#39;s revenue and cost generated from different revenue streams. Substantially all of its revenues are derived in the PRC. The Group&amp;#39;s long-lived assets and operations are substantially all located in the PRC.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The following table summarizes the Group&amp;#39;s revenue by segment:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"&gt;Year ended December&amp;nbsp;31, 2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Polysilicon&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Wafer&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Elimination&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 48%; TEXT-ALIGN: left"&gt;Revenue - External&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;218,915,487&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;13,254,092&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;232,169,579&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Revenue - Intersegment&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1,696,573&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (1,696,573&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Total revenue&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 220,612,060&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 13,254,092&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (1,696,573&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 232,169,579&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Total Cost&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 125,962,033&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 20,680,565&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (1,696,573&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 144,946,025&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Gross profit (loss)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 94,650,027&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (7,426,473&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 87,223,554&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"&gt;Year ended December&amp;nbsp;31, 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Polysilicon&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Wafer&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Elimination&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 48%; TEXT-ALIGN: left"&gt;Revenue - External&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;73,450,807&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;13,407,594&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;86,858,401&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Revenue - Intersegment&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 6,067,339&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (6,067,339&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Total revenue&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;79,518,146&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;13,407,594&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(6,067,339&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;86,858,401&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Total Cost&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 110,243,043&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 20,114,680&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (6,067,339&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 124,290,384&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Gross profit (loss)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (30,724,897&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (6,707,086&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (37,431,983&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"&gt;Year ended December&amp;nbsp;31, 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Polysilicon&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Wafer&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Elimination&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 48%; TEXT-ALIGN: left"&gt;Revenue - External&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;76,721,105&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;32,278,700&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;108,999,805&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Revenue - Intersegment&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 13,195,838&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (13,195,838&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Total revenue&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;89,916,943&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;32,278,700&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(13,195,838&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;108,999,805&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Total Cost&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 98,684,325&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 49,614,921&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (13,195,838&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 135,103,408&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; Gross profit (loss)&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (8,767,382&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (17,336,221&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; (26,103,603&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; )&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The following customers accounted for 10% or more of revenues:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 1in" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 52%; TEXT-ALIGN: left"&gt;Customer A&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 13%; TEXT-ALIGN: right"&gt;28,219,079&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 13%; TEXT-ALIGN: right"&gt;21,749,284&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 13%"&gt; *&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Customer B&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;27,214,590&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Customer D&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;33,140,475&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Customer G&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;28,570,338&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Customer I&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;19,644,488&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Customer L&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"&gt; *&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;13,471,873&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;!-- Field: Rule-Page --&gt; &lt;div style="BORDER-TOP: black 1pt solid; FONT-SIZE: 1pt; text-align: left; WIDTH: 20%"&gt; &amp;nbsp;&lt;/div&gt; &lt;!-- Field: /Rule-Page --&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-RIGHT: 0.8pt; WIDTH: 2%"&gt; *&lt;/td&gt; &lt;td style="WIDTH: 1%; PADDING-RIGHT: 0.8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-RIGHT: 0.8pt; WIDTH: 97%"&gt; Represents less than 10%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:SegmentReportingDisclosureTextBlock>
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  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross.5344.1806.359.40343.5328.0.0" contextRef="from-2012-01-08-to-2012-01-09.5344.0.1806.359.40343.5328.0.0" unitRef="shares" decimals="0">300000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross.6840.5218.5220.0.0.0.0" contextRef="from-2014-01-01-to-2014-01-28.6840.0.5218.5220.0.0.0.0" unitRef="shares" decimals="INF">6274166</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue.5344.40354.360.1806.359.40376.5328" contextRef="from-2012-01-08-to-2012-01-09.5344.0.40354.360.1806.359.40376.5328" unitRef="USD_per_share" decimals="2">0.22</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue.6838.40354.360.1806.359.40376.5328" contextRef="from-2013-04-01-to-2013-04-03.6838.0.40354.360.1806.359.40376.5328" unitRef="USD_per_share" decimals="2">0.11</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue.5344.40355.360.1806.359.40376.5328" contextRef="from-2012-01-08-to-2012-01-09.5344.0.40355.360.1806.359.40376.5328" unitRef="USD_per_share" decimals="2">0.23</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue.6838.40355.360.1806.359.40376.5328" contextRef="from-2013-04-01-to-2013-04-03.6838.0.40355.360.1806.359.40376.5328" unitRef="USD_per_share" decimals="2">0.12</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue.5344.40357.360.1806.359.40376.5328" contextRef="from-2012-01-08-to-2012-01-09.5344.0.40357.360.1806.359.40376.5328" unitRef="USD_per_share" decimals="2">0.23</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue.6838.40357.360.1806.359.40376.5328" contextRef="from-2013-04-01-to-2013-04-03.6838.0.40357.360.1806.359.40376.5328" unitRef="USD_per_share" decimals="2">0.11</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue.5243.1806.359.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.1806.359.0.0.0.0" unitRef="USD_per_share" decimals="2">0.11</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue.5244.1806.359.0.0.0.0" contextRef="from-2012-01-01-to-2012-12-31.5244.0.1806.359.0.0.0.0" unitRef="USD_per_share" decimals="2">0.23</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue.5245.1806.359.0.0.0.0" contextRef="from-2011-01-01-to-2011-12-31.5245.0.1806.359.0.0.0.0" unitRef="USD_per_share" decimals="0">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue.6838.40356.360.1806.359.40376.5328" contextRef="from-2013-04-01-to-2013-04-03.6838.0.40356.360.1806.359.40376.5328" unitRef="USD_per_share" decimals="2">0.13</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
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  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber.5240.1806.359.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.1806.359.0.0.0.0" unitRef="shares" decimals="INF">7179500</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber.5346.1806.359.0.0.0.0" contextRef="as-of-2009-12-31.5346.0.1806.359.0.0.0.0" unitRef="shares" decimals="INF">5350000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice.5239.1806.359.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.1806.359.0.0.0.0" unitRef="USD_per_share" decimals="2">0.25</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice.5240.1806.359.0.0.0.0" contextRef="as-of-2012-12-31.5240.0.1806.359.0.0.0.0" unitRef="USD_per_share" decimals="2">0.25</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
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  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber.5239.1806.359.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.1806.359.0.0.0.0" unitRef="shares" decimals="INF">5915969</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice id="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice.5239.1806.359.0.0.0.0" contextRef="as-of-2013-12-31.5239.0.1806.359.0.0.0.0" unitRef="USD_per_share" decimals="2">0.25</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1 id="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1.5243.1806.359.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.1806.359.0.0.0.0">P6Y4M13D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost id="ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost.5344.1806.359.40376.5328.0.0" contextRef="from-2012-01-08-to-2012-01-09.5344.0.1806.359.40376.5328.0.0" unitRef="USD" decimals="0">638700</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost id="ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost.6838.1806.359.40376.5328.0.0" contextRef="from-2013-04-01-to-2013-04-03.6838.0.1806.359.40376.5328.0.0" unitRef="USD" decimals="0">191000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice id="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice.5243.1806.359.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.1806.359.0.0.0.0" unitRef="USD_per_share" decimals="2">0.25</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice id="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice.5243.1806.359.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.1806.359.0.0.0.0" unitRef="USD_per_share" decimals="2">0.25</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice id="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice.5243.1806.359.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.1806.359.0.0.0.0" unitRef="USD_per_share" decimals="2">0.25</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice id="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice.5243.1806.359.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.1806.359.0.0.0.0" unitRef="USD_per_share" decimals="2">0.25</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice id="ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice.6840.5218.5220.0.0.0.0" contextRef="from-2014-01-01-to-2014-01-28.6840.0.5218.5220.0.0.0.0" unitRef="USD_per_share" decimals="2">1.49</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy id="ShareBasedCompensationOptionAndIncentivePlansPolicy.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(r) Share-based compensation&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group recognizes share-based compensation in the statement of operations based on the fair value of equity awards on the date of the grant, with compensation expense recognized over the period in which the grantee is required to provide service to the Group in exchange for the equity award. The Group has made an estimate of expected forfeiture and is recognizing compensation costs only for those equity awards expected to vest. The share-based compensation expenses have been categorized as either selling, general and administrative expenses, research and development expenses and cost of sales, depending on the job functions of the grantees. For the years ended December&amp;nbsp;31, 2011, 2012 and 2013, the Group recognized share-based compensation expense of $2,206,025, $2,249,834 and $1,881,401 respectively, which was classified as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 61%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Selling, general and administrative expenses&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;2,068,115&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;2,018,817&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;1,743,768&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Research and development expenses&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;75,508&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;175,242&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;60,987&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Cost of sales&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 62,402&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 55,775&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 76,646&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 2,206,025&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 2,249,834&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 1,881,401&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
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  <us-gaap:SignificantAccountingPoliciesTextBlock id="SignificantAccountingPoliciesTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;2. SUMMARY OF PRINCIPAL ACCOUNTING POLICIES&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(a) Basis of presentation&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The consolidated financial statements of the Group have been prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP").&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The realization of assets and the satisfaction of liabilities in the normal course of business are dependent on, among other things, the Company&amp;#39;s ability to generate cash flows from operations, and the Company&amp;#39;s ability to arrange adequate financing arrangements, including the renewal or rollover of its bank borrowings, to support its working capital requirements.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The following factors raise substantial doubt about the Company&amp;#39;s ability to continue as a going concern for the foreseeable future.&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;The solar industry is being negatively impacted by a number of factors including excess capacity, reduction of government incentives in key solar markets and higher import tariffs. These factors have contributed to declining average selling prices for our products. The average selling price ("ASP") of polysilicon has fallen from about $60 per kilogram ("kg") in 2010 to $18 per kg in 2013.&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;For the year ended December 31, 2013, the Company incurred an operating loss of $200,631,180.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;During the year December 31, 2013, the Company experienced negative cash flow from operations of $16,525,818, primarily as a result of the net loss incurred by the Company.&lt;/font&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;As of December 31, 2013, the Company&amp;#39;s current liabilities exceed its current assets by $207,979,447. While the Company had cash and cash equivalents of $7,831,084, it had short-term borrowings of $68,821,014 all due within one year and the current portion of long-term borrowings amounting to $50,049,843, which is restricted to purchase fixed assets and not expected to be renewed.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; These factors are mitigated by the following actions and plans:&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;On March 30, 2014, the Company obtained an irrevocable, legally enforceable letter of financial support from Daqo Group which has committed to provide sufficient financial support to the Company to ensure the Company has the funds required to satisfy its obligations as they come due in the normal course during the year ending December 31, 2014. Further, the support letter provides that Daqo Group will not require the Company to pay the amount owed to the Daqo Group and subsidiaries of Daqo Group, Daqo Solar and Xinjiang Daqo Investment as of December 31, 2013, before January 1, 2015.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;The Company has or in the process of taking a number of cost reduction initiatives. For example, the Company has constructed its phase II production facilities in Xinjiang and began commercial production in January 2013. The cash cost to produce polysilicon at the Xinjiang facilities is approximately $11 per kg, which is significantly lower than current ASPs&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;The Company has performed a review of its cash flow forecast for the twelve months ending December 31, 2014. The Company believes that its operating cash flow will improve significantly in 2014 and that its operating cash flow will be positive. While management believes the forecast is based on reasonable assumptions, significant assumptions of this forecast include: the ASP is estimated to be approximately $22 per kilogram for the year ending December 31, 2014 and the unit cash cost of Xinjiang will be approximately $11 per kilogram for the year ending December 31, 2014 as a result of the low electricity cost and certain technology improvements. The preliminary results for the first quarter of 2014 shows an increase in the ASP, which increased to $21 per kilogram as of March 31, 2014. This trend is consistent with the Company&amp;#39;s expectation. As of December 31, 2013, the Company has a plan to expand the capacity at the Xinjiang plant and is in the process of relocating significant production assets from Chongqing Daqo to its Xinjiang plant, completion of which is subject to obtaining additional funding.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 41pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 18pt"&gt;&amp;middot;&lt;/td&gt; &lt;td style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;While there can be no assurance that the Company will be able to refinance its short-term bank borrowings as they become due, historically, the Company has renewed or rolled over most of its short-term bank loans upon the maturity date of the loans and believes it will continue to be able to do so. From January 1, 2014 to April 14, 2014, the Company rolled over a short-term bank borrowing of $11.2 million and a bank acceptance note credit facility of $4.8 million.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 59pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Based on the above factors, management believes that adequate sources of liquidity will exist to fund the Company&amp;#39;s working capital and capital expenditures requirements, and to meet its short term debt obligations, other liabilities and commitments as they become due.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(b) Basis of consolidation&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The consolidated financial statements include the financial statements of the Group. All intercompany transactions and balances have been eliminated on consolidation.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(c) Use of estimates&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. The company bases its estimates on historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Management has made significant estimates in a variety of areas, including but not limited to allowance for doubtful accounts, inventories valuation, useful lives and residual values of long-lived assets, impairment for long lived assets, consolidation of Daqo New Material, valuation allowances for deferred tax assets, interest capitalization, warranty accrual and certain assumption used in the computation of share-based compensation and related forfeiture rates.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(d) Concentration of credit risk&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivables.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group places its cash and cash equivalents in various financial institutions in the PRC. The Group believes that no significant credit risk exists as these banks are principally government-owned financial institutions with high credit ratings.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Accounts receivable represent those receivables derived in the ordinary course of business. The Group conducts credit evaluations of customers to whom credit terms are extended. The Group establishes an allowance for doubtful accounts mainly based on aging of the receivables and other factors surrounding the credit risk of specific customers. The allowance for doubtful accounts is $1,592,467 and $7,160,782 as of December&amp;nbsp;31, 2012 and 2013, respectively, based on the aging of the receivables and the Company&amp;#39;s assessment of the customers&amp;#39; credit risk.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The following customers accounted for 10% or more of accounts receivable:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="6"&gt;&lt;strong&gt;December&amp;nbsp;31,&lt;/strong&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt; &lt;p style="BORDER-BOTTOM: black 0.75pt solid; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Accounts&lt;br /&gt; receivable&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="2"&gt;&lt;strong&gt;2012&lt;/strong&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="2"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"&gt; Customer A&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 12,529,889&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; *&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="BACKGROUND-COLOR: white"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"&gt; Customer D&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right"&gt; 3,568,910&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right"&gt;&lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;3,673,455&lt;/font&gt; &lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"&gt; Customer C&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; *&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 1,225,831&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="BACKGROUND-COLOR: white"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"&gt; Customer K&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; -&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"&gt; $&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 1,507,576&lt;/td&gt; &lt;td style="VERTICAL-ALIGN: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;!-- Field: Rule-Page --&gt; &lt;div style="BORDER-TOP: black 1pt solid; FONT-SIZE: 1pt; MARGIN-BOTTOM: 1pt; MARGIN-TOP: 3pt; text-align: left; WIDTH: 20%"&gt; &amp;nbsp;&lt;/div&gt; &lt;!-- Field: /Rule-Page --&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; *&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 97%"&gt; Represents less than 10%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Sales of polysilicon to the Group&amp;#39;s largest customers whose sales constitute over 10% of revenue accounted for approximately 50%, 25% and 30% of revenues for the years ended December&amp;nbsp;31, 2011, 2012 and 2013, respectively. The Group was substantially dependent upon the continued participation of these customers in order to maintain its total revenues. Significantly reducing the Group&amp;#39;s dependence on these customers is likely to take time and there can be no guarantee that the Group will succeed in reducing that dependence.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Furthermore, all of the Company&amp;#39;s long-term borrowings are guaranteed by Daqo Group, our related party, who has also committed to provide financial support to meet the Company&amp;#39;s short term borrowings obligations, other liabilities and commitments as they become due (see Note 2(a)). The Company&amp;#39;s access to credit is significantly reliant on Daqo Group&amp;#39;s ability and willingness to continue to provide sufficient financial support.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(e) Cash and cash equivalents&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Cash and cash equivalents consist of cash on hand and demand deposits, which are unrestricted as to withdrawal and use, and which have maturities of three months or less when purchased.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(f) Restricted cash&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Restricted cash amounted to $10,649,745 and $8,826,110 as of December&amp;nbsp;31, 2012 and 2013, respectively, and are deposited in bank accounts as deposits for short-term letters of credit and notes issued by several banks for purchases of raw materials, plant and equipment. These deposits carry fixed interest rates and will be released when the related letters of credit or notes are settled by the Group. The Group considers the restricted cash balances as equivalent to an investment whose return of principal requires the satisfaction of conditions (i.e., settlement of letters of credit or notes) rather than a withdrawal demand. Therefore, deposits and withdrawals of principal balances in restricted cash accounts represent the creation or return of investment and, accordingly, the Group has presented such deposits and withdrawals as investing activities in the consolidated statements of cash flows.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(g) Allowance for Doubtful Accounts&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group determines its allowance for doubtful accounts by actively monitoring the financial condition of its customers to determine the potential for any nonpayment of trade receivables. In determining its allowance for doubtful accounts, the Group also considers other economic factors, such as aging trends. The Group believes that its process of specific review of customers combined with overall analytical review provides an effective evaluation of ultimate collectability of trade receivables.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(h) Inventories&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Inventories are stated at lower of cost or market. Costs are determined using weighted average costs. Costs comprise direct materials, direct labor and overhead costs incurred in bringing the inventories to their present location and condition. The Group writes down the cost of excess inventories to the estimated market value based on historical and forecasted demand. Estimated market value is measured as the estimated selling price of each class of inventory in the ordinary course of business less estimated costs of completion and disposal. The charges to inventory for the years ended December&amp;nbsp;31, 2011, 2012 and 2013 were $14,252,701, $ 14,821,620 and $29,905,734, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group has outsourced portions of its manufacturing process, including cutting ingots into wafers, and converting wafers into solar cells, to various third-party manufacturers. These outsourcing arrangements may or may not include transfer of title of the raw material inventory (ingots, wafers or cells) to the third-party manufacturers.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; For those outsourcing arrangements in which title does not transfer, the Group maintains the inventory in the balance sheet as raw materials inventory while it is in physical possession of the third-party manufacturers. Upon receipt of the processed inventory from the third-party manufacturers, it is reclassified to work-in-progress inventory with the processing fee capitalized as cost of inventory.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; For those outsourcing arrangements in which title (including risk of loss) does transfer to the third-party manufacturer, the Group is contractually obligated to repurchase the processed inventory. To accomplish this, it enters into raw material sales agreements and processed inventory purchase agreements simultaneously with the third-party manufacturer. In such instances, where they are, in substance tolling arrangements, the Group retains the inventory in the consolidated balance sheets while it is in the physical possession of the third-party manufacturer. The cash received from the third-party manufacturer is recorded as a current liability on the balance sheet rather than revenue or deferred revenue. Upon receipt of the processed inventory, it is reclassified from raw materials to work-in-progress inventory and the processing fee paid to the third-party manufacturer is added to inventory cost. Cash payments for outsourcing arrangements which require prepayment for repurchase of the processed inventory are classified as current assets on the balance sheet. If there is no legal right of offset established by these arrangements, the associated assets and liabilities are presented separately on the balance sheet until the processed inventory is returned to the Group.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(i) Property, plant and equipment&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Property, plant and equipment are recorded at cost less accumulated depreciation. Depreciation is recognized on a straight-line basis over the following estimated useful lives:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.6in" cellspacing="0" cellpadding="0"&gt; &lt;tr&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 82%"&gt; Buildings and plant&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; WIDTH: 18%"&gt; 20&amp;nbsp;years&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"&gt; Machinery and equipment&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 10 years&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"&gt; Furniture, fixtures and equipment&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 3-5&amp;nbsp;years&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"&gt; Motor vehicles&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"&gt; 6 years&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Costs incurred on construction are capitalized and transferred to property, plant and equipment upon completion, at which time depreciation commences.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Interest expense incurred for construction of property, plant, and equipment is capitalized as part of the cost of such assets. The Company capitalizes interest to the extent that expenditures to construct an asset have occurred and interest costs have been incurred. Interest expense capitalized for the years ended December&amp;nbsp;31, 2011, 2012 and 2013 was $3,429,496, $7,245,747 and $nil, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(j) Prepaid land use rights&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; All land in the PRC is owned by the PRC government. The PRC government, according to PRC law, may sell the land use rights for a specified period of time. The Group&amp;#39;s land use rights in the PRC are stated at cost less recognized lease expenses. Lease expense is recognized over the term of the agreement on a straight-line basis. The Group recorded lease expenses of $166,355, $958,558 and $ 781,706, for the years ended December&amp;nbsp;31, 2011, 2012 and 2013, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(k) Impairment of long-lived assets&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group evaluates its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Factors that the Group considers in deciding when to perform an impairment review include, but are not limited to significant under-performance of a business or product line in relation to expectations, significant negative industry or economic trends, and significant changes or planed changes in the use of the assets. An impairment analysis is performed at the lowest level of identifiable independent cash flows for an asset or asset group. The Group makes subjective judgments in determining the independent cash flows that can be related to a specific asset group based on the asset usage model and manufacturing capabilities. The Group measures the recoverability of assets that will continue to be used in the operations by comparing the carrying value of the asset group to the estimate of the related total future undiscounted cash flows. If an asset group&amp;#39;s carrying value is not recoverable through the related undiscounted cash flows, the impairment loss is measured by comparing the difference between the asset group&amp;#39;s carrying value and its fair value. The Group determines the fair value of an asset or asset group utilizing estimated future discounted cash flows and incorporates assumptions that it believes marketplace participants would utilize. The impairment charges for the years ended December&amp;nbsp;31, 2011, 2012 and 2013 were $38,512,376 (among which $3,844,799 was included in loss from discontinued operations), $42,754,481 and $158,424,827, respectively.&amp;nbsp;The impairment loss incurred in fiscal year 2012 was related to the impairment of long-lived assets of the wafer business, and was triggered primarily by the significant decrease in average selling prices for wafers that was experienced in 2012. The impairment loss incurred in fiscal year 2013 was related to the buildings and plant in Chongqing Daqo and Daqo New Material, and was triggered primarily by the significant decrease in average selling prices for polysilicon and the Group&amp;#39;s decision of relocating significant machinery and equipment located at Chongqing Daqo to Xinjiang Daqo as a part of its expansion plan.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(l) Revenue recognition&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &lt;u&gt;Product sales&lt;/u&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group recognizes revenue when persuasive evidence of an arrangement exists, the sales price is fixed or determinable, delivery of the product has occurred, title and risk of loss have transferred to the customers and collectability of the receivable is reasonably assured. The majority of the sales contracts transfer title and risk of loss to customers upon receipt. Sales agreements for polysilicon and wafers typically do not contain product warranties except for return and replacement of defective products within a period generally ranging from 3 to 30 days from delivery. Sales agreements typically do not contain post-shipment obligations or other return or credit provisions. The Group may extend credit terms after assessing a number of factors to determine the customers&amp;#39; credit worthiness.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group sold approximately $36,916,531, $19,862,424 and $32,278,700 in photovoltaic wafers and cells in 2011, 2012 and 2013, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Customers frequently pay for products prior to the delivery of the products. Advance payments are recorded as advances from customers.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &lt;u&gt;Service revenue&lt;/u&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Company also provides OEM services to customers and recognizes revenue when there is persuasive evidence of an arrangement, the service has been rendered, the sales price is fixed or determinable and collectability is reasonably assured.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(m) Cost of revenues&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Cost of revenues consists of production related costs including costs of silicon raw materials, electricity and other utilities, consumables, direct labor, overhead costs, depreciation of property, plant and equipment, and manufacturing waste treatment processing fees.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(n) Shipping and handling&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Costs to ship products to customers are recorded as selling expenses in the consolidated statements of operations. Costs to ship products to customers were $1,215,110, $1,033,808 and $1,901,384 respectively for the years ended December&amp;nbsp;31, 2011, 2012 and 2013.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(o) Research and development expenses&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Research and development expenses include materials and utilities consumed in research and development activities, payroll and related costs and depreciation of property and equipment associated with the research and development activities, which are expensed when incurred. In the years ended December 31, 2012 and 2013, the Company incurred additional research and development expenses for its Xinjiang Phase II polysilicon facilities to achieve the targets for quality, capacity and cost during the pilot production period.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(p) Government subsidies&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group receives unrestricted cash subsidies from local government agencies. The government agencies use their discretion to determine the amount of the subsidies with reference to land use right fees, value-added tax and income taxes paid, bank loan interest expenses paid or electricity consumed by the Group, however, these subsidies do not represent tax refunds or reimbursements of expenditures. The subsidies are unrestricted as to use and can be utilized by the Group in any manner it deems appropriate. The Group has utilized, and expects to continue to utilize, these subsidies to fund general operating expenses. The Group records unrestricted cash government subsidies as other operating income in the consolidated statements of operations. Unrestricted cash government subsidies received for the years ended December&amp;nbsp;31, 2011, 2012 and 2013 were $11,484,768, $9,250,296 and $5,249,788, respectively.&amp;nbsp;Government grants related to assets are recorded as long term liabilities and are recognized as an offset to depreciation expense on a straight-line basis over the useful life of the associated asset. The Company received government grants related to assets of $25,895,226, $1,383,487 and $1,172,160 during the years ended December&amp;nbsp;31, 2011, 2012 and 2013, respectively, and recognized $42,047, $764,528 and $ 1,454,125 as an offset to depreciation expense for the years ended December&amp;nbsp;31, 2011, 2012 and 2013, respectively. The Company had deferred government grants related to assets of $25,853,179, $26,472,137 and $26,954,700 as of December&amp;nbsp;31, 2011, 2012 and 2013, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(q) Income taxes&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Deferred income taxes are recognized for temporary differences between the tax bases of assets and liabilities and their reported amount in the consolidated financial statements, net operating loss carry-forwards and credits by applying enacted tax rates applicable to future years. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided in accordance with the laws of the relevant taxing authorities. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in which temporary differences are expected to be realized or settled. The effect on deferred tax assets and liabilities of changes in tax rates is recognized in the statement of operations in the period of the enactment of the change. The components of the deferred tax assets and liabilities are individually classified as current and non-current based on the characteristics of the underlying assets and liabilities, or the expected timing of their use when they do not relate to a specific asset or liability.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(r) Share-based compensation&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group recognizes share-based compensation in the statement of operations based on the fair value of equity awards on the date of the grant, with compensation expense recognized over the period in which the grantee is required to provide service to the Group in exchange for the equity award. The Group has made an estimate of expected forfeiture and is recognizing compensation costs only for those equity awards expected to vest. The share-based compensation expenses have been categorized as either selling, general and administrative expenses, research and development expenses and cost of sales, depending on the job functions of the grantees. For the years ended December&amp;nbsp;31, 2011, 2012 and 2013, the Group recognized share-based compensation expense of $2,206,025, $2,249,834 and $1,881,401 respectively, which was classified as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year ended December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 61%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Selling, general and administrative expenses&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;2,068,115&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;2,018,817&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="WIDTH: 10%; TEXT-ALIGN: right"&gt;1,743,768&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Research and development expenses&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;75,508&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;175,242&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;60,987&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Cost of sales&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 62,402&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 55,775&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 76,646&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"&gt; Total&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 2,206,025&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 2,249,834&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"&gt; 1,881,401&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(s) Earnings (loss) per share&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Basic earnings (loss) per ordinary share are computed by dividing the net income (loss) attributable to ordinary shares by the weighted average number of ordinary shares outstanding during the year.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Diluted earnings per share is calculated by dividing net income attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary shares and dilutive ordinary share equivalents outstanding during the year. Diluted earnings per share is computed using the treasury stock method. During the years ended December&amp;nbsp;31, 2011, 2012 and 2013, there are no ordinary shares issuable upon the exercise of outstanding share options included in the calculation of dilutive earnings per share as they were anti-dilutive.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(t) Foreign currency translation&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The reporting currency of the Group is the United States dollar ("U.S. dollar"). The functional currency of the Company is the U.S. dollar. Monetary assets and liabilities denominated in other currencies other than the U.S. dollar are translated into U.S. dollar at the rates of exchange in effect at the balance sheet dates. Transactions dominated in currencies other than the U.S. dollar during the year are converted into U.S. dollar at the applicable rates of exchange prevailing when the transactions occur. Transaction gains and losses are recorded in the statements of operations.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The financial records of the Company&amp;#39;s PRC subsidiaries and VIE are maintained in Chinese Renminbi ("RMB"), which is their functional currency. Assets and liabilities are translated at the exchange rates at the balance sheet date. Equity accounts are translated at historical exchange rates. Revenues, expenses, gains and losses are translated at average rate of exchange prevailing during the periods presented. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive income in the statement of changes in equity and comprehensive income.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The RMB is not a freely convertible currency. The State Administration for Foreign Exchange of People&amp;#39;s Republic of China, under the authority of the People&amp;#39;s Bank of China, controls the conversion of RMB into foreign currencies. The value of the RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China foreign exchange trading system market. The Group&amp;#39;s aggregate amount of cash and cash equivalents and restricted cash denominated in RMB amounted to $11,589,709 and $11,436,370 as of December&amp;nbsp;31, 2012 and 2013, respectively.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(u) Comprehensive income (loss)&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; Our financial statements include the Consolidated Statements of Comprehensive Income (Loss) as required by new accounting guidance, which we early adopted during 2010. As of December 31, 2012 and 2013, Accumulated Other Comprehensive Income was comprised entirely of foreign currency translation adjustments.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(v) Fair value of financial instruments&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Company estimates fair value of financial assets and liabilities as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (also referred to as an exit price). The fair value measurement guidance establishes a hierarchy for inputs used in measuring fair value that gives the highest priority to observable inputs and the lowest priority to unobservable inputs. Valuation techniques used to measure fair value shall maximize the use of observable inputs.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr&gt; &lt;td style="WIDTH: 4%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 3%"&gt; &amp;bull;&lt;/td&gt; &lt;td style="WIDTH: 1%; VERTICAL-ALIGN: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 92%"&gt; Level 1-Valuation techniques in which all significant inputs are unadjusted quoted prices from active markets for assets or liabilities that are identical to the assets or liabilities being measured.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr&gt; &lt;td style="WIDTH: 4%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 3%"&gt; &amp;bull;&lt;/td&gt; &lt;td style="WIDTH: 1%; VERTICAL-ALIGN: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 92%"&gt; Level 2-Valuation techniques in which significant inputs include quoted prices from active markets for assets or liabilities that are similar to the assets or liabilities being measured and/or quoted prices for assets or liabilities that are identical or similar to the assets or liabilities being measured from markets that are not active. Also, model-derived valuations in which all significant inputs and significant value drivers are observable in active markets are Level 2 valuation techniques.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr&gt; &lt;td style="WIDTH: 4%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 3%"&gt; &amp;bull;&lt;/td&gt; &lt;td style="WIDTH: 1%; VERTICAL-ALIGN: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 92%"&gt; Level 3-Valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are valuation technique inputs that reflect the Group&amp;#39;s own assumptions about the assumptions that market participants would use to price an asset or liability.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; When available, the Group measures the fair value of financial instruments based on quoted market prices in active markets, valuation techniques that use observable market-based inputs or unobservable inputs that are corroborated by market data. Pricing information the Group obtains from third parties is internally validated for reasonableness prior to use in the consolidated financial statements. When observable market prices are not readily available, the Group generally estimates fair value using valuation techniques that rely on alternate market data or inputs that are generally less readily observable from objective sources and are estimated based on pertinent information available at the time of the applicable reporting periods. In certain cases, fair values are not subject to precise quantification or verification and may fluctuate as economic and market factors vary and the Group&amp;#39;s evaluation of those factors changes. Although the Group uses its best judgment in estimating the fair value of these financial instruments, there are inherent limitations in any estimation technique. In these cases, a minor change in an assumption could result in a significant change in its estimate of fair value, thereby increasing or decreasing the amounts of the Group&amp;#39;s consolidated assets, liabilities, shareholders&amp;#39; equity and net income or loss.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Group&amp;#39;s financial instruments include cash and cash equivalents, restricted cash, accounts receivable, other current assets, amount due from related parties, accounts payable, other current liabilities, payables for purchase of property, plant and equipment, amounts due to related parties and short-term and current portion of long-term borrowings. The carrying amounts of these short-term financial instruments approximate their fair values due to the short-term maturity of these instruments.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The fair values of the Company&amp;#39;s non-current portion of payables for purchase of property, plant and equipment and long-term bank borrowings as of December&amp;nbsp;31, 2012 and 2013 are estimated by discounted cash flow technique using an interest rate corresponding to debt with similar maturities and risks on the measurement date.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(w) Variable Interest Entity&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The Company uses a qualitative approach in assessing the consolidation requirement for variable interest entities. The approach focuses on identifying which enterprise has the power to direct the activities that most significantly impact the variable interest entity&amp;#39;s economic performance and which enterprise has the obligation to absorb losses or the right to receive benefits from the variable interest entity. In the event that the Company is the primary beneficiary of a variable interest entity, the assets, liabilities, and results of operations of the variable interest entity will be included in the Company&amp;#39;s Consolidated Financial Statements.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(x) Noncontrolling interest&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The noncontrolling interest represents Daqo Group&amp;#39;s equity interest in Daqo New Material. The Group classified the ownership interest in the consolidated entity held by a party other than the Company to noncontrolling interest in the consolidated financial statements. It also reported the consolidated net income at amounts that include the amounts attributable to both the parent and the noncontrolling interest on the face of the consolidated statements of operations and comprehensive income. On December 31, 2013, Daqo New Material was deconsolidated, therefore the noncontrolling interest was $nil as of December 31, 2013.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(y) Treasury Stock&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; On July 9, 2012, the Company&amp;#39;s Board of Directors authorized the Company to repurchase up to $5 million in aggregate value of its outstanding ordinary shares through open market or other legally permissible means prior to December 31, 2012 in accordance with applicable securities laws.. During the year ended December 31, 2012, the Company repurchased 2,836,670 shares for a total purchase price of $500,724. The Company has legal title to the shares, and no other party has the voting rights associated with these shares.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;&amp;nbsp;&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(z) Recent accounting pronouncements&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; In July 2013, the FASB issued a pronouncement which provides guidance on financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The FASB&amp;#39;s objective in issuing this ASU is to eliminate diversity in practice resulting from a lack of guidance on this topic in current U.S. GAAP. The amendments in this ASU state that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This ASU applies to all entities that have unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
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  <us-gaap:StockholdersEquityPolicyTextBlock id="StockholdersEquityPolicyTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"&gt; &lt;strong&gt;&lt;em&gt;(y) Treasury Stock&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; On July 9, 2012, the Company&amp;#39;s Board of Directors authorized the Company to repurchase up to $5 million in aggregate value of its outstanding ordinary shares through open market or other legally permissible means prior to December 31, 2012 in accordance with applicable securities laws.. During the year ended December 31, 2012, the Company repurchased 2,836,670 shares for a total purchase price of $500,724. The Company has legal title to the shares, and no other party has the voting rights associated with these shares.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:StockholdersEquityPolicyTextBlock>
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  <us-gaap:SubsequentEventsTextBlock id="SubsequentEventsTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;20. SUBSEQUENT EVENTS&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 16.45pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 21.75pt"&gt;(a)&lt;/td&gt; &lt;td&gt;On January 28, 2014, the Company granted options to acquire 6,274,166 ordinary shares respectively to independent directors, executive officers and employees pursuant to the Option Plan. Twenty-five percent (25%) of the options will vest six months after the grant date, Twenty-five percent (25%) of the options will vest twelve months after the grant date, and the remaining fifty percent (50%) of the options will vest ratably over the twenty- four month period after the anniversary of the grant date. These options were granted in anticipation of services to be provided during the respective service periods. The exercise price is $1.49.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:SubsequentEventsTextBlock>
  <us-gaap:SummaryOfIncomeTaxHolidayTextBlock id="SummaryOfIncomeTaxHolidayTextBlock.5243.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-12-31.5243.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"&gt; The aggregate amount and per share effect of the tax holiday are as follows:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10"&gt;Year&amp;nbsp;ended&amp;nbsp;December&amp;nbsp;31,&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2011&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"&gt; 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center" colspan="2"&gt;$&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center" colspan="2"&gt;$&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center" colspan="2"&gt;$&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 55%; TEXT-ALIGN: left"&gt;The aggregate dollar effect (in thousands)&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;4,388&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 12%; TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="WIDTH: 1%; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;Per share effect-basic&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;0.02&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;Per share effect-diluted&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;0.02&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:SummaryOfIncomeTaxHolidayTextBlock>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>001 - Document - Document and Entity Information</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>303 - Disclosure - EXIT and DISPOSAL ACTIVITIES (Tables)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/EarningsPerShare" id="dq-eps" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>117 - Disclosure - EARNINGS PER SHARE</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:definition>317 - Disclosure - EARNINGS PER SHARE (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/FinancialStatementScheduleI" id="dq-fssi" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>122 - Disclosure - FINANCIAL STATEMENT SCHEDULE I</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:definition>42201 - Schedule - FINANCIAL STATEMENT SCHEDULE I (BALANCE SHEET) (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/FinancialStatementScheduleIStatementOfCashFlowsDetails" id="dq-fssisocfd" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>42204 - Schedule - FINANCIAL STATEMENT SCHEDULE I (STATEMENT OF CASH FLOWS) (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/FinancialStatementScheduleIStatementOfChangesInEquityDetails" id="dq-fssisocied" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>42203 - Schedule - FINANCIAL STATEMENT SCHEDULE I (STATEMENT OF CHANGES IN EQUITY) (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/FinancialStatementScheduleIStatementOfOperationsAndComprehensiveIncomeLossDetails" id="dq-fssisooacild" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>42202 - Schedule - FINANCIAL STATEMENT SCHEDULE I (STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)) (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/FairValueMeasurements" id="dq-fvm" xmlns:link="http://www.xbrl.org/2003/linkbase">
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/FairValueMeasurementsDetails" id="dq-fvmd" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>41101 - Disclosure - FAIR VALUE MEASUREMENTS (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/FairValueMeasurementsTables" id="dq-fvmt" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>311 - Disclosure - FAIR VALUE MEASUREMENTS (Tables)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/Inventories" id="dq-i" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>106 - Disclosure - INVENTORIES</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/InventoriesDetails" id="dq-id" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>40601 - Disclosure - INVENTORIES (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/IncomeTaxes" id="dq-it" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>113 - Disclosure - INCOME TAXES</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/InventoriesTables" id="dq-it1" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>306 - Disclosure - INVENTORIES (Tables)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/IncomeTaxesNarrativeDetails" id="dq-itnd" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>41301 - Disclosure - INCOME TAXES (Narrative) (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/IncomeTaxesScheduleOfDeferredIncomeTaxAssetsAndLiabilitiesDetails" id="dq-itsoditaald" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>41304 - Disclosure - INCOME TAXES (Schedule of Deferred Income Tax Assets and Liabilities) (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      </link:roleType>
      <link:roleType roleURI="http://www.dqsolar.com/role/IncomeTaxesScheduleOfEffectiveIncomeTaxRateDetails" id="dq-itsoeitrd" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>41305 - Disclosure - INCOME TAXES (Schedule of Effective Income Tax Rate) (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/IncomeTaxesScheduleOfEffectOfTaxHolidaysDetails" id="dq-itsoeothd" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>41306 - Disclosure - INCOME TAXES (Schedule of Effect of Tax Holidays) (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:definition>41302 - Disclosure - INCOME TAXES (Schedule of Income Tax Expenses, by Account) (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:definition>41303 - Disclosure - INCOME TAXES (Schedule of Income Tax Expenses) (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/IncomeTaxesTables" id="dq-itt" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>313 - Disclosure - INCOME TAXES (Tables)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/MainlandChinaContributionPlanAndProfitAppropriation" id="dq-mccpapa" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>112 - Disclosure - MAINLAND CHINA CONTRIBUTION PLAN AND PROFIT APPROPRIATION</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:definition>41201 - Disclosure - MAINLAND CHINA CONTRIBUTION PLAN AND PROFIT APPROPRIATION (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/OrganizationAndPrincipalActivities" id="dq-oapa" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>101 - Disclosure - ORGANIZATION AND PRINCIPAL ACTIVITIES</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:definition>40101 - Disclosure - ORGANIZATION AND PRINCIPAL ACTIVITIES (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/PrepaidExpenseAndOtherCurrentAssetsDetails" id="dq-peaocad" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>40501 - Disclosure - PREPAID EXPENSE AND OTHER CURRENT ASSETS (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/PropertyPlantAndEquipmentNet" id="dq-ppaen" xmlns:link="http://www.xbrl.org/2003/linkbase">
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/PropertyPlantAndEquipmentNetDetails" id="dq-ppaend" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>40701 - Disclosure - PROPERTY, PLANT AND EQUIPMENT, NET (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/PropertyPlantAndEquipmentNetTables" id="dq-ppaent" xmlns:link="http://www.xbrl.org/2003/linkbase">
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:definition>41601 - Disclosure - RELATED PARTY TRANSACTIONS AND BALANCES (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/ShareBasedCompensation" id="dq-sbc" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>115 - Disclosure - SHARE BASED COMPENSATION</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:definition>41501 - Disclosure - SHARE BASED COMPENSATION (Narrative) (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:definition>41502 - Disclosure - SHARE BASED COMPENSATION (Schedule of Assumptions Used with Binomial Option Valuation Model) (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>41503 - Disclosure - SHARE BASED COMPENSATION (Summary of Stock Option Activity) (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:definition>315 - Disclosure - SHARE BASED COMPENSATION (Tables)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:definition>121 - Disclosure - SUBSEQUENT EVENTS</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>42101 - Disclosure - SUBSEQUENT EVENTS (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>120 - Disclosure - SEGMENT INFORMATION</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>42001 - Disclosure - SEGMENT INFORMATION (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>320 - Disclosure - SEGMENT INFORMATION (Tables)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
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        <link:definition>102 - Disclosure - SUMMARY OF PRINCIPAL ACCOUNTING POLICIES</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>40201 - Disclosure - SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Additional Information) (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>40202 - Disclosure - SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Concentration of Credit Risk) (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>202 - Disclosure - SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Policies)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>40203 - Disclosure - SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Property, Plant and Equipment) (Details)</link:definition>
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        <link:definition>40204 - Disclosure - SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Share-based Compensation) (Details)</link:definition>
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        <link:definition>302 - Disclosure - SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Tables)</link:definition>
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        <link:definition>119 - Disclosure - VARIABLE INTEREST ENTITY</link:definition>
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        <link:definition>41901 - Disclosure - VARIABLE INTEREST ENTITY (Details)</link:definition>
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        <link:definition>319 - Disclosure - VARIABLE INTEREST ENTITY (Tables)</link:definition>
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  <xsd:element name="NoncashFinancingActivitiesAbstract" id="dq_NoncashFinancingActivitiesAbstract" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType" />
  <xsd:element name="NoncashInvestingActivitiesAbstract" id="dq_NoncashInvestingActivitiesAbstract" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType" />
  <xsd:element name="OptionsGrantedApril3Member" id="dq_OptionsGrantedApril3Member" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="OptionsGrantedPeriodFourMember" id="dq_OptionsGrantedPeriodFourMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="OptionsGrantedPeriodOneMember" id="dq_OptionsGrantedPeriodOneMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="OptionsGrantedPeriodThreeMember" id="dq_OptionsGrantedPeriodThreeMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="OptionsGrantedPeriodTwoMember" id="dq_OptionsGrantedPeriodTwoMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="OtherCustomersMember" id="dq_OtherCustomersMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="OtherItemsDisclosureTextBlock" id="dq_OtherItemsDisclosureTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" />
  <xsd:element name="OtherSubsidiariesOfDaqoGroupMember" id="dq_OtherSubsidiariesOfDaqoGroupMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="PaymentsForFinancingTransactionMember" id="dq_PaymentsForFinancingTransactionMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="PolysiliconMember" id="dq_PolysiliconMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="PrepaidLandUseRightsPolicyTextBlock" id="dq_PrepaidLandUseRightsPolicyTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" />
  <xsd:element name="PrepaymentReceivedMember" id="dq_PrepaymentReceivedMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="ProceedsFromFinancingTransactionMember" id="dq_ProceedsFromFinancingTransactionMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="ProcessingFeesMember" id="dq_ProcessingFeesMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="PurchasesOfFixedAssetsMember" id="dq_PurchasesOfFixedAssetsMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="PurchasesOfRawMaterialsMember" id="dq_PurchasesOfRawMaterialsMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="RelevantEmployeesAndExecutiveOfficersMember" id="dq_RelevantEmployeesAndExecutiveOfficersMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="RentalExpensesMember" id="dq_RentalExpensesMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock" id="dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" />
  <xsd:element name="ScheduleOfRelatedPartyBalancesLoansTableTextBlock" id="dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" />
  <xsd:element name="ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" id="dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" />
  <xsd:element name="ServiceExpensesMember" id="dq_ServiceExpensesMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract" id="dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType" />
  <xsd:element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" id="dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" />
  <xsd:element name="ShortTermLoanRenewals" id="dq_ShortTermLoanRenewals" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="SignificantProductionAssetsMember" id="dq_SignificantProductionAssetsMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="SubsidiesPayableCurrent" id="dq_SubsidiesPayableCurrent" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="SupplementalCashFlowInformationDivestituresAbstract" id="dq_SupplementalCashFlowInformationDivestituresAbstract" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType" />
  <xsd:element name="SupplementalCashFlowInformationDivestituresConsiderationReceived" id="dq_SupplementalCashFlowInformationDivestituresConsiderationReceived" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="SupplementalNonCashInvestingActivities" id="dq_SupplementalNonCashInvestingActivities" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="UnrestrictedCashSubsidies" id="dq_UnrestrictedCashSubsidies" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="ValueOfEquipmentReceived" id="dq_ValueOfEquipmentReceived" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="VariableInterestEntityDisclosureTextBlock" id="dq_VariableInterestEntityDisclosureTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" />
  <xsd:element name="VestingInFirstSixMonthsMember" id="dq_VestingInFirstSixMonthsMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="VestingInstallmentsDuringVestingPeriod" id="dq_VestingInstallmentsDuringVestingPeriod" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType" />
  <xsd:element name="VestingInYearOneMember" id="dq_VestingInYearOneMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="VestingInYearThreeMember" id="dq_VestingInYearThreeMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="VestingInYearTwoMember" id="dq_VestingInYearTwoMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="WaferMember" id="dq_WaferMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="WorkingCapital" id="dq_WorkingCapital" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="XinjiangDaqoNewEnergyCoLtdMember" id="dq_XinjiangDaqoNewEnergyCoLtdMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="ZhengjiangDaqoSolarCoLtdMember" id="dq_ZhengjiangDaqoSolarCoLtdMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
</xsd:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>29
<FILENAME>dq-20131231_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
<!--Created by Vintage Filings ("VF")-->
<!--produced on 2014-04-13 @ 8:17 PM-->
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  <link:roleRef roleURI="http://www.dqsolar.com/role/AdvancesFromCustomers" xlink:href="dq-20131231.xsd#dq-afc" xlink:type="simple" />
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  <link:roleRef roleURI="http://www.dqsolar.com/role/AllowancesForDoubtfulReceivables" xlink:href="dq-20131231.xsd#dq-afdr" xlink:type="simple" />
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  <link:roleRef roleURI="http://www.dqsolar.com/role/Borrowings" xlink:href="dq-20131231.xsd#dq-b" xlink:type="simple" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/BorrowingsLongtermBorrowingsDetails" xlink:href="dq-20131231.xsd#dq-blbd" xlink:type="simple" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/BorrowingsShorttermBorrowingsDetails" xlink:href="dq-20131231.xsd#dq-bsbd" xlink:type="simple" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/BorrowingsScheduleOfBankBorrowingsDetails" xlink:href="dq-20131231.xsd#dq-bsobbd" xlink:type="simple" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/BorrowingsScheduleOfPrincipalMaturitiesOfBankBorrowingsDetails" xlink:href="dq-20131231.xsd#dq-bsopmobbd" xlink:type="simple" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/BorrowingsTables" xlink:href="dq-20131231.xsd#dq-bt" xlink:type="simple" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/Commitments" xlink:href="dq-20131231.xsd#dq-c" xlink:type="simple" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/ConsolidatedBalanceSheets" xlink:href="dq-20131231.xsd#dq-cbs" xlink:type="simple" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:href="dq-20131231.xsd#dq-cbsp" xlink:type="simple" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/CommitmentsDetails" xlink:href="dq-20131231.xsd#dq-cd" xlink:type="simple" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/ConsolidatedStatementsOfCashFlows" xlink:href="dq-20131231.xsd#dq-csocf" xlink:type="simple" />
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  <link:roleRef roleURI="http://www.dqsolar.com/role/ConsolidatedStatementsOfComprehensiveIncomeLoss" xlink:href="dq-20131231.xsd#dq-csocil" xlink:type="simple" />
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  <link:roleRef roleURI="http://www.dqsolar.com/role/IncomeTaxesScheduleOfDeferredIncomeTaxAssetsAndLiabilitiesDetails" xlink:href="dq-20131231.xsd#dq-itsoditaald" xlink:type="simple" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/IncomeTaxesScheduleOfEffectiveIncomeTaxRateDetails" xlink:href="dq-20131231.xsd#dq-itsoeitrd" xlink:type="simple" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/IncomeTaxesScheduleOfEffectOfTaxHolidaysDetails" xlink:href="dq-20131231.xsd#dq-itsoeothd" xlink:type="simple" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/IncomeTaxesScheduleOfIncomeTaxExpensesByAccountDetails" xlink:href="dq-20131231.xsd#dq-itsoitebad" xlink:type="simple" />
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    <link:loc xlink:label="loc_DeferredRevenueDisclosureTextBlock.7919.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredRevenueDisclosureTextBlock" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_DeferredRevenueDisclosureTextBlock_lbl.247538.338603" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_DeferredRevenueDisclosureTextBlock_lbl.247538.338603">ADVANCES FROM CUSTOMERS</link:label>
    <link:loc xlink:label="loc_CustomerAdvancesAndDeposits.7556.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CustomerAdvancesAndDeposits" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerAdvancesAndDeposits.7556.11.6" xlink:to="lab_CustomerAdvancesAndDeposits.3428.338876" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerAdvancesAndDeposits.3428.338876" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CustomerAdvancesAndDeposits.3428.338876">Customer Advances and Deposits</link:label>
    <link:loc xlink:label="loc_CustomerAdvancesAndDeposits.7556.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CustomerAdvancesAndDeposits" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerAdvancesAndDeposits.7556.11.9" xlink:to="lab_CustomerAdvancesAndDeposits.485596.338877" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerAdvancesAndDeposits.485596.338877" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_CustomerAdvancesAndDeposits.485596.338877">Total</link:label>
    <link:loc xlink:label="loc_CustomerAdvancesCurrent.7552.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CustomerAdvancesCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerAdvancesCurrent.7552.11.52" xlink:to="lab_CustomerAdvancesCurrent.351737.338878" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerAdvancesCurrent.351737.338878" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_CustomerAdvancesCurrent.351737.338878">Less: Current portion of Advance from customers</link:label>
    <link:loc xlink:label="loc_CustomerAdvancesNoncurrent.7562.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CustomerAdvancesNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerAdvancesNoncurrent.7562.11.8" xlink:to="lab_CustomerAdvancesNoncurrent8.485597.338879" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerAdvancesNoncurrent8.485597.338879" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CustomerAdvancesNoncurrent8.485597.338879">Long term advance from customers</link:label>
    <link:loc xlink:label="loc_CustomerBMember.40310.11.6" xlink:href="dq-20131231.xsd#dq_CustomerBMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerBMember.40310.11.6" xlink:to="lab_CustomerBMember.351725.338880" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerBMember.351725.338880" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CustomerBMember.351725.338880">Customer B [Member]</link:label>
    <link:loc xlink:label="loc_CustomerBMember.40310.11.12" xlink:href="dq-20131231.xsd#dq_CustomerBMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerBMember.40310.11.12" xlink:to="lab_CustomerBMember.351726.338881" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerBMember.351726.338881" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_CustomerBMember.351726.338881">Customer B Member</link:label>
    <link:loc xlink:label="loc_CustomerCMember.40311.11.6" xlink:href="dq-20131231.xsd#dq_CustomerCMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerCMember.40311.11.6" xlink:to="lab_CustomerCMember.351881.338882" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerCMember.351881.338882" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CustomerCMember.351881.338882">Customer C [Member]</link:label>
    <link:loc xlink:label="loc_CustomerCMember.40311.11.12" xlink:href="dq-20131231.xsd#dq_CustomerCMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerCMember.40311.11.12" xlink:to="lab_CustomerCMember.351882.338883" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerCMember.351882.338883" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_CustomerCMember.351882.338883">Customer C Member</link:label>
    <link:loc xlink:label="loc_CustomerDMember.40312.11.6" xlink:href="dq-20131231.xsd#dq_CustomerDMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerDMember.40312.11.6" xlink:to="lab_CustomerDMember.350814.338921" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerDMember.350814.338921" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CustomerDMember.350814.338921">Customer D [Member]</link:label>
    <link:loc xlink:label="loc_CustomerDMember.40312.11.12" xlink:href="dq-20131231.xsd#dq_CustomerDMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerDMember.40312.11.12" xlink:to="lab_CustomerDMember.350816.338922" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerDMember.350816.338922" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_CustomerDMember.350816.338922">Customer D Member</link:label>
    <link:loc xlink:label="loc_CustomerEMember.40313.11.6" xlink:href="dq-20131231.xsd#dq_CustomerEMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerEMember.40313.11.6" xlink:to="lab_CustomerEMember.350820.338884" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerEMember.350820.338884" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CustomerEMember.350820.338884">Customer E [Member]</link:label>
    <link:loc xlink:label="loc_CustomerEMember.40313.11.12" xlink:href="dq-20131231.xsd#dq_CustomerEMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerEMember.40313.11.12" xlink:to="lab_CustomerEMember.350821.338885" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerEMember.350821.338885" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_CustomerEMember.350821.338885">Customer E Member</link:label>
    <link:loc xlink:label="loc_CustomerFMember.40314.11.6" xlink:href="dq-20131231.xsd#dq_CustomerFMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerFMember.40314.11.6" xlink:to="lab_CustomerFMember.350822.338886" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerFMember.350822.338886" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CustomerFMember.350822.338886">Customer F [Member]</link:label>
    <link:loc xlink:label="loc_CustomerFMember.40314.11.12" xlink:href="dq-20131231.xsd#dq_CustomerFMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerFMember.40314.11.12" xlink:to="lab_CustomerFMember.350823.338887" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerFMember.350823.338887" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_CustomerFMember.350823.338887">Customer F Member</link:label>
    <link:loc xlink:label="loc_CustomerGMember.40315.11.7" xlink:href="dq-20131231.xsd#dq_CustomerGMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerGMember.40315.11.7" xlink:to="lab_CustomerGMember.387152" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerGMember.387152" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CustomerGMember.387152">Customer G [Member]</link:label>
    <link:loc xlink:label="loc_CustomerGMember.40315.11.6" xlink:href="dq-20131231.xsd#dq_CustomerGMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerGMember.40315.11.6" xlink:to="lab_CustomerGMember.350825.338923" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerGMember.350825.338923" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CustomerGMember.350825.338923">Customer G [Member]</link:label>
    <link:loc xlink:label="loc_CustomerGMember.40315.11.12" xlink:href="dq-20131231.xsd#dq_CustomerGMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerGMember.40315.11.12" xlink:to="lab_CustomerGMember.350827.338924" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerGMember.350827.338924" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_CustomerGMember.350827.338924">Customer G Member</link:label>
    <link:loc xlink:label="loc_CustomerIMember.40317.11.6" xlink:href="dq-20131231.xsd#dq_CustomerIMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerIMember.40317.11.6" xlink:to="lab_CustomerIMember.351874.338888" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerIMember.351874.338888" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CustomerIMember.351874.338888">Customer I [Member]</link:label>
    <link:loc xlink:label="loc_CustomerIMember.40317.11.12" xlink:href="dq-20131231.xsd#dq_CustomerIMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerIMember.40317.11.12" xlink:to="lab_CustomerIMember.351877.338889" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerIMember.351877.338889" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_CustomerIMember.351877.338889">Customer I Member</link:label>
    <link:loc xlink:label="loc_CustomerJMember.46085.11.6" xlink:href="dq-20131231.xsd#dq_CustomerJMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerJMember.46085.11.6" xlink:to="lab_CustomerJMember.387149" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerJMember.387149" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CustomerJMember.387149">Customer J [Member]</link:label>
    <link:loc xlink:label="loc_CustomerJMember.46085.11.12" xlink:href="dq-20131231.xsd#dq_CustomerJMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerJMember.46085.11.12" xlink:to="lab_CustomerJMember12.387151" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerJMember12.387151" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_CustomerJMember12.387151">Customer J [Member]</link:label>
    <link:loc xlink:label="loc_CustomerMember.40318.11.6" xlink:href="dq-20131231.xsd#dq_CustomerMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerMember.40318.11.6" xlink:to="lab_CustomerMember.350810.338890" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerMember.350810.338890" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CustomerMember.350810.338890">Customer [Member]</link:label>
    <link:loc xlink:label="loc_CustomerMember.40318.11.12" xlink:href="dq-20131231.xsd#dq_CustomerMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerMember.40318.11.12" xlink:to="lab_CustomerMember.350813.338891" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerMember.350813.338891" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_CustomerMember.350813.338891">Customer Member</link:label>
    <link:loc xlink:label="loc_CustomerMember.40318.11.7" xlink:href="dq-20131231.xsd#dq_CustomerMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerMember.40318.11.7" xlink:to="lab_CustomerMember7.485536.338892" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerMember7.485536.338892" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CustomerMember7.485536.338892">Customer A [Member]</link:label>
    <link:loc xlink:label="loc_DeferredRevenueArrangementByTypeTable.1431.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredRevenueArrangementByTypeTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredRevenueArrangementByTypeTable.1431.11.6" xlink:to="lab_DeferredRevenueArrangementByTypeTable.4062" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredRevenueArrangementByTypeTable.4062" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredRevenueArrangementByTypeTable.4062">Deferred Revenue Arrangement, by Type [Table]</link:label>
    <link:loc xlink:label="loc_DeferredRevenueArrangementLineItems.1438.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredRevenueArrangementLineItems" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredRevenueArrangementLineItems.1438.11.6" xlink:to="lab_DeferredRevenueArrangementLineItems.4110" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredRevenueArrangementLineItems.4110" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredRevenueArrangementLineItems.4110">Deferred Revenue Arrangement [Line Items]</link:label>
    <link:loc xlink:label="loc_MajorCustomersAxis.3316.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_MajorCustomersAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_MajorCustomersAxis.3316.11.6" xlink:to="lab_MajorCustomersAxis.11214.338895" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_MajorCustomersAxis.11214.338895" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_MajorCustomersAxis.11214.338895">Major Customers [Axis]</link:label>
    <link:loc xlink:label="loc_NameOfMajorCustomerDomain.3482.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NameOfMajorCustomerDomain" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NameOfMajorCustomerDomain.3482.11.6" xlink:to="lab_NameOfMajorCustomerDomain.11712.338896" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NameOfMajorCustomerDomain.11712.338896" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_NameOfMajorCustomerDomain.11712.338896">Name of Major Customer [Domain]</link:label>
    <link:loc xlink:label="loc_OtherCustomersMember.40358.11.6" xlink:href="dq-20131231.xsd#dq_OtherCustomersMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherCustomersMember.40358.11.6" xlink:to="lab_OtherCustomersMember.351728.338897" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherCustomersMember.351728.338897" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OtherCustomersMember.351728.338897">Other Customers [Member]</link:label>
    <link:loc xlink:label="loc_OtherCustomersMember.40358.11.12" xlink:href="dq-20131231.xsd#dq_OtherCustomersMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherCustomersMember.40358.11.12" xlink:to="lab_OtherCustomersMember.351730.338898" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherCustomersMember.351730.338898" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_OtherCustomersMember.351730.338898">Other Customers Member</link:label>
    <link:loc xlink:label="loc_SignificantSupplyCommitmentRemainingMinimumAmountCommitted.17112.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SignificantSupplyCommitmentRemainingMinimumAmountCommitted.17112.11.6" xlink:to="lab_SignificantSupplyCommitmentRemainingMinimumAmountCommitted.18430" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SignificantSupplyCommitmentRemainingMinimumAmountCommitted.18430" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_SignificantSupplyCommitmentRemainingMinimumAmountCommitted.18430">Supply Commitment, Remaining Minimum Amount Committed</link:label>
    <link:loc xlink:label="loc_SignificantSupplyCommitmentRemainingMinimumAmountCommitted.17112.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SignificantSupplyCommitmentRemainingMinimumAmountCommitted.17112.11.7" xlink:to="lab_SignificantSupplyCommitmentRemainingMinimumAmountCommitted7.387183" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SignificantSupplyCommitmentRemainingMinimumAmountCommitted7.387183" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_SignificantSupplyCommitmentRemainingMinimumAmountCommitted7.387183">Supply commitment</link:label>
    <link:loc xlink:label="loc_CustomerAdvancesCurrent.7552.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CustomerAdvancesCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerAdvancesCurrent.7552.11.6" xlink:to="us-gaap_CustomerAdvancesCurrent_lbl.247524.338901" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_CustomerAdvancesCurrent_lbl.247524.338901" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_CustomerAdvancesCurrent_lbl.247524.338901">Customer Advances Current</link:label>
    <link:loc xlink:label="loc_CustomerAdvancesNoncurrent.7562.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CustomerAdvancesNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerAdvancesNoncurrent.7562.11.6" xlink:to="us-gaap_CustomerAdvancesNoncurrent_lbl.247526.338902" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_CustomerAdvancesNoncurrent_lbl.247526.338902" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_CustomerAdvancesNoncurrent_lbl.247526.338902">Customer Advances Noncurrent</link:label>
    <link:loc xlink:label="loc_DeferredRevenueByArrangementDisclosureTextBlock.7903.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredRevenueByArrangementDisclosureTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredRevenueByArrangementDisclosureTextBlock.7903.11.6" xlink:to="lab_DeferredRevenueByArrangementDisclosureTextBlock.3903.338712" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredRevenueByArrangementDisclosureTextBlock.3903.338712" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredRevenueByArrangementDisclosureTextBlock.3903.338712">Deferred Revenue, by Arrangement, Disclosure [Table Text Block]</link:label>
    <link:loc xlink:label="loc_DeferredRevenueByArrangementDisclosureTextBlock.7903.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredRevenueByArrangementDisclosureTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredRevenueByArrangementDisclosureTextBlock.7903.11.7" xlink:to="lab_DeferredRevenueByArrangementDisclosureTextBlock7.249071.338713" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredRevenueByArrangementDisclosureTextBlock7.249071.338713" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredRevenueByArrangementDisclosureTextBlock7.249071.338713">Schedule of Advances from Customers</link:label>
    <link:loc xlink:label="loc_LoansAndLeasesReceivableDisclosureAbstract.3158.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LoansAndLeasesReceivableDisclosureAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoansAndLeasesReceivableDisclosureAbstract.3158.11.6" xlink:to="lab_LoansAndLeasesReceivableDisclosureAbstract.482647.339445" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoansAndLeasesReceivableDisclosureAbstract.482647.339445" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LoansAndLeasesReceivableDisclosureAbstract.482647.339445">ALLOWANCES FOR DOUBTFUL RECEIVABLES [Abstract]</link:label>
    <link:loc xlink:label="loc_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock.12654.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock.12654.11.6" xlink:to="lab_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock.10845.339446" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock.10845.339446" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock.10845.339446">Loans, Notes, Trade and Other Receivables Disclosure [Text Block]</link:label>
    <link:loc xlink:label="loc_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock.12654.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock.12654.11.7" xlink:to="lab_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock.482651.339447" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock.482651.339447" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock.482651.339447">ALLOWANCES FOR DOUBTFUL RECEIVABLES</link:label>
    <link:loc xlink:label="loc_AllowanceForDoubtfulAccountsReceivable.5946.11.11" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AllowanceForDoubtfulAccountsReceivable.5946.11.11" xlink:to="lab_AllowanceForDoubtfulAccountsReceivable.485590.339487" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AllowanceForDoubtfulAccountsReceivable.485590.339487" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US" id="lab_AllowanceForDoubtfulAccountsReceivable.485590.339487">Closing balance</link:label>
    <link:loc xlink:label="loc_AllowanceForDoubtfulAccountsReceivable.5946.11.10" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AllowanceForDoubtfulAccountsReceivable.5946.11.10" xlink:to="lab_AllowanceForDoubtfulAccountsReceivable.485591.339486" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AllowanceForDoubtfulAccountsReceivable.485591.339486" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US" id="lab_AllowanceForDoubtfulAccountsReceivable.485591.339486">Beginning of the year</link:label>
    <link:loc xlink:label="loc_AllowanceForDoubtfulAccountsReceivable.5946.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AllowanceForDoubtfulAccountsReceivable.5946.11.6" xlink:to="lab_AllowanceForDoubtfulAccountsReceivable.869.339485" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AllowanceForDoubtfulAccountsReceivable.869.339485" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AllowanceForDoubtfulAccountsReceivable.869.339485">Allowance for Doubtful Accounts Receivable</link:label>
    <link:loc xlink:label="loc_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect.40294.11.6" xlink:href="dq-20131231.xsd#dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect.40294.11.6" xlink:to="lab_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect.485527.339488" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect.485527.339488" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect.485527.339488">Allowance For Doubtful Accounts Receivable Foreign Exchange Effect</link:label>
    <link:loc xlink:label="loc_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect.40294.11.12" xlink:href="dq-20131231.xsd#dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect.40294.11.12" xlink:to="lab_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect12.485587.339489" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect12.485587.339489" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect12.485587.339489">Allowance For Doubtful Accounts Receivable, Foreign Exchange Effect.</link:label>
    <link:loc xlink:label="loc_AllowanceForDoubtfulAccountsReceivableRollforward.539.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AllowanceForDoubtfulAccountsReceivableRollforward.539.11.7" xlink:to="lab_AllowanceForDoubtfulAccountsReceivableRollforward.485592.339491" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AllowanceForDoubtfulAccountsReceivableRollforward.485592.339491" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_AllowanceForDoubtfulAccountsReceivableRollforward.485592.339491">Analysis of allowances for accounts receivable is as follows:</link:label>
    <link:loc xlink:label="loc_AllowanceForDoubtfulAccountsReceivableRollforward.539.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AllowanceForDoubtfulAccountsReceivableRollforward.539.11.6" xlink:to="lab_AllowanceForDoubtfulAccountsReceivableRollforward.873.339490" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AllowanceForDoubtfulAccountsReceivableRollforward.873.339490" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AllowanceForDoubtfulAccountsReceivableRollforward.873.339490">Allowance for Doubtful Accounts Receivable [Roll Forward]</link:label>
    <link:loc xlink:label="loc_ProvisionForDoubtfulAccounts.15273.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProvisionForDoubtfulAccounts.15273.11.8" xlink:to="lab_ProvisionForDoubtfulAccounts.485589.339492" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProvisionForDoubtfulAccounts.485589.339492" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProvisionForDoubtfulAccounts.485589.339492">Allowances made during the year</link:label>
    <link:loc xlink:label="loc_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect.40294.11.7" xlink:href="dq-20131231.xsd#dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect.40294.11.7" xlink:to="lab_StringThree.485585.339493" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_StringThree.485585.339493" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_StringThree.485585.339493">Foreign exchange effect</link:label>
    <link:loc xlink:label="loc_ProvisionForDoubtfulAccounts.15273.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProvisionForDoubtfulAccounts.15273.11.6" xlink:to="us-gaap_ProvisionForDoubtfulAccounts_lbl.247768.339494" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl.247768.339494" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_ProvisionForDoubtfulAccounts_lbl.247768.339494">Provision For Doubtful Accounts</link:label>
    <link:loc xlink:label="loc_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock.5935.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock.5935.11.6" xlink:to="lab_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock.867" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock.867" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock.867">Allowance for Credit Losses on Financing Receivables [Table Text Block]</link:label>
    <link:loc xlink:label="loc_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock.5935.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock.5935.11.7" xlink:to="lab_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock.145832.390547" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock.145832.390547" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock.145832.390547">Schedule of Allowances for Accounts Receivable</link:label>
    <link:loc xlink:label="loc_DebtDisclosureAbstract.1355.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtDisclosureAbstract.1355.11.6" xlink:to="lab_DebtDisclosureAbstract.248950.338595" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtDisclosureAbstract.248950.338595" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtDisclosureAbstract.248950.338595">BORROWINGS [Abstract]</link:label>
    <link:loc xlink:label="loc_DebtDisclosureTextBlock.7682.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtDisclosureTextBlock.7682.11.6" xlink:to="us-gaap_DebtDisclosureTextBlock_lbl.247533.338596" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_DebtDisclosureTextBlock_lbl.247533.338596" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_DebtDisclosureTextBlock_lbl.247533.338596">Debt Disclosure [Text Block]</link:label>
    <link:loc xlink:label="loc_DebtDisclosureTextBlock.7682.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtDisclosureTextBlock.7682.11.7" xlink:to="us-gaap_DebtDisclosureTextBlock_lbl.247534.338597" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_DebtDisclosureTextBlock_lbl.247534.338597" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_DebtDisclosureTextBlock_lbl.247534.338597">BORROWINGS</link:label>
    <link:loc xlink:label="loc_BankOfChinaMember.40298.11.6" xlink:href="dq-20131231.xsd#dq_BankOfChinaMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_BankOfChinaMember.40298.11.6" xlink:to="lab_BankOfChinaMember.354795.339114" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_BankOfChinaMember.354795.339114" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_BankOfChinaMember.354795.339114">Bank of China [Member]</link:label>
    <link:loc xlink:label="loc_BankOfChinaMember.40298.11.12" xlink:href="dq-20131231.xsd#dq_BankOfChinaMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_BankOfChinaMember.40298.11.12" xlink:to="lab_BankofChinaMember.354796.339113" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_BankofChinaMember.354796.339113" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_BankofChinaMember.354796.339113">Bank of China [Member]</link:label>
    <link:loc xlink:label="loc_ChinaConstructionBankMember.40307.11.6" xlink:href="dq-20131231.xsd#dq_ChinaConstructionBankMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ChinaConstructionBankMember.40307.11.6" xlink:to="lab_ChinaConstructionBankMember.354804.339115" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ChinaConstructionBankMember.354804.339115" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ChinaConstructionBankMember.354804.339115">China Construction Bank [Member]</link:label>
    <link:loc xlink:label="loc_ChongqingRuralCommercialBankMember.40309.11.6" xlink:href="dq-20131231.xsd#dq_ChongqingRuralCommercialBankMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ChongqingRuralCommercialBankMember.40309.11.6" xlink:to="lab_ChongqingRuralCommercialBankMember.354887.339116" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ChongqingRuralCommercialBankMember.354887.339116" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ChongqingRuralCommercialBankMember.354887.339116">Chongqing Rural Commercial Bank [Member]</link:label>
    <link:loc xlink:label="loc_ChongqingRuralCommercialBankMember.40309.11.12" xlink:href="dq-20131231.xsd#dq_ChongqingRuralCommercialBankMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ChongqingRuralCommercialBankMember.40309.11.12" xlink:to="lab_ChongqingRuralCommercialBankMember12.354898.339117" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ChongqingRuralCommercialBankMember12.354898.339117" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_ChongqingRuralCommercialBankMember12.354898.339117">Chongqing Rural Commercial Bank [Member]</link:label>
    <link:loc xlink:label="loc_CreditFacilityAxis.1266.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CreditFacilityAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CreditFacilityAxis.1266.11.6" xlink:to="lab_CreditFacilityAxis.3297.339118" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CreditFacilityAxis.3297.339118" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CreditFacilityAxis.3297.339118">Credit Facility [Axis]</link:label>
    <link:loc xlink:label="loc_CreditFacilityDomain.1279.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CreditFacilityDomain" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CreditFacilityDomain.1279.11.6" xlink:to="lab_CreditFacilityDomain.3293.339119" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CreditFacilityDomain.3293.339119" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CreditFacilityDomain.3293.339119">Credit Facility [Domain]</link:label>
    <link:loc xlink:label="loc_DebtInstrumentBasisSpreadOnVariableRate1.7653.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentBasisSpreadOnVariableRate1.7653.11.6" xlink:to="lab_DebtInstrumentBasisSpreadOnVariableRate1.3690" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentBasisSpreadOnVariableRate1.3690" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentBasisSpreadOnVariableRate1.3690">Debt Instrument, Basis Spread on Variable Rate</link:label>
    <link:loc xlink:label="loc_DebtInstrumentBasisSpreadOnVariableRate1.7653.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentBasisSpreadOnVariableRate1.7653.11.7" xlink:to="lab_DebtInstrumentBasisSpreadOnVariableRate1.339541" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentBasisSpreadOnVariableRate1.339541" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentBasisSpreadOnVariableRate1.339541">Interest rate spread over rate issued by People's Bank of China</link:label>
    <link:loc xlink:label="loc_DebtInstrumentCollateralAmount.7675.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentCollateralAmount" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentCollateralAmount.7675.11.6" xlink:to="lab_DebtInstrumentCollateralAmount.3718" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentCollateralAmount.3718" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentCollateralAmount.3718">Debt Instrument, Collateral Amount</link:label>
    <link:loc xlink:label="loc_DebtInstrumentCollateralAmount.7675.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentCollateralAmount" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentCollateralAmount.7675.11.7" xlink:to="lab_DebtInstrumentCollateralAmount.339528" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentCollateralAmount.339528" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentCollateralAmount.339528">Amount of collateral</link:label>
    <link:loc xlink:label="loc_DebtInstrumentInterestRateStatedPercentage.7726.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentInterestRateStatedPercentage.7726.11.7" xlink:to="lab_DebtInstrumentInterestRateStatedPercentage.354894.339125" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentInterestRateStatedPercentage.354894.339125" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentInterestRateStatedPercentage.354894.339125">Fixed interest rate</link:label>
    <link:loc xlink:label="loc_DebtInstrumentInterestRateStatedPercentage.7726.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentInterestRateStatedPercentage.7726.11.6" xlink:to="lab_DebtInstrumentInterestRateStatedPercentage.3675.339124" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentInterestRateStatedPercentage.3675.339124" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentInterestRateStatedPercentage.3675.339124">Debt Instrument, Interest Rate, Stated Percentage</link:label>
    <link:loc xlink:label="loc_DebtInstrumentLineItems.1342.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentLineItems.1342.11.6" xlink:to="lab_DebtInstrumentLineItems.3528.339126" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentLineItems.3528.339126" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentLineItems.3528.339126">Debt Instrument [Line Items]</link:label>
    <link:loc xlink:label="loc_DebtInstrumentTable.1343.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentTable.1343.11.6" xlink:to="lab_DebtInstrumentTable.3529.339127" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentTable.3529.339127" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentTable.3529.339127">Schedule of Long-term Debt Instruments [Table]</link:label>
    <link:loc xlink:label="loc_DebtInstrumentTerm.7687.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentTerm" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentTerm.7687.11.6" xlink:to="lab_DebtInstrumentTerm.3731" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentTerm.3731" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentTerm.3731">Debt Instrument, Term</link:label>
    <link:loc xlink:label="loc_DebtInstrumentTerm.7687.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentTerm" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentTerm.7687.11.7" xlink:to="lab_DebtInstrumentTerm.339527" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentTerm.339527" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentTerm.339527">Term of facility</link:label>
    <link:loc xlink:label="loc_FacilityOneMember.40333.11.6" xlink:href="dq-20131231.xsd#dq_FacilityOneMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FacilityOneMember.40333.11.6" xlink:to="lab_FacilityOneMember.354792.339130" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FacilityOneMember.354792.339130" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FacilityOneMember.354792.339130">Facility One [Member]</link:label>
    <link:loc xlink:label="loc_FacilityOneMember.40333.11.12" xlink:href="dq-20131231.xsd#dq_FacilityOneMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FacilityOneMember.40333.11.12" xlink:to="lab_FacilityOneMember.354794.339131" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FacilityOneMember.354794.339131" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_FacilityOneMember.354794.339131">Facility One [Member]</link:label>
    <link:loc xlink:label="loc_FacilityTwoMember.40334.11.6" xlink:href="dq-20131231.xsd#dq_FacilityTwoMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FacilityTwoMember.40334.11.6" xlink:to="lab_FacilityTwoMember.354798.339132" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FacilityTwoMember.354798.339132" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FacilityTwoMember.354798.339132">Facility Two [Member]</link:label>
    <link:loc xlink:label="loc_FacilityTwoMember.40334.11.12" xlink:href="dq-20131231.xsd#dq_FacilityTwoMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FacilityTwoMember.40334.11.12" xlink:to="lab_FacilityTwoMember.354799.339133" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FacilityTwoMember.354799.339133" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_FacilityTwoMember.354799.339133">Facility Two [Member]</link:label>
    <link:loc xlink:label="loc_HuaxiaBankMember.40338.11.6" xlink:href="dq-20131231.xsd#dq_HuaxiaBankMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_HuaxiaBankMember.40338.11.6" xlink:to="lab_HuaxiaBankMember.354801.339134" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_HuaxiaBankMember.354801.339134" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_HuaxiaBankMember.354801.339134">Huaxia Bank [Member]</link:label>
    <link:loc xlink:label="loc_HuaxiaBankMember.40338.11.12" xlink:href="dq-20131231.xsd#dq_HuaxiaBankMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_HuaxiaBankMember.40338.11.12" xlink:to="lab_HuaxiaBankMember.354802.339135" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_HuaxiaBankMember.354802.339135" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_HuaxiaBankMember.354802.339135">Huaxia Bank [Member]</link:label>
    <link:loc xlink:label="loc_ChinaConstructionBankMember.40307.11.12" xlink:href="dq-20131231.xsd#dq_ChinaConstructionBankMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ChinaConstructionBankMember.40307.11.12" xlink:to="lab_InvestmentsDisclosureTextBlock12.354805.339136" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_InvestmentsDisclosureTextBlock12.354805.339136" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_InvestmentsDisclosureTextBlock12.354805.339136">China Construction Bank [Member]</link:label>
    <link:loc xlink:label="loc_LineOfCreditFacilityAxis.3141.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditFacilityAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LineOfCreditFacilityAxis.3141.11.6" xlink:to="lab_LineOfCreditFacilityAxis.10549.339137" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LineOfCreditFacilityAxis.10549.339137" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LineOfCreditFacilityAxis.10549.339137">Lender Name [Axis]</link:label>
    <link:loc xlink:label="loc_LineOfCreditFacilityInitiationDate1.12449.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditFacilityInitiationDate1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LineOfCreditFacilityInitiationDate1.12449.11.6" xlink:to="lab_LineOfCreditFacilityInitiationDate1.10543.339138" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LineOfCreditFacilityInitiationDate1.10543.339138" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LineOfCreditFacilityInitiationDate1.10543.339138">Line of Credit Facility, Initiation Date</link:label>
    <link:loc xlink:label="loc_LineOfCreditFacilityInitiationDate1.12449.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditFacilityInitiationDate1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LineOfCreditFacilityInitiationDate1.12449.11.7" xlink:to="lab_LineOfCreditFacilityInitiationDate1.354890.339139" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LineOfCreditFacilityInitiationDate1.354890.339139" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LineOfCreditFacilityInitiationDate1.354890.339139">Initiation date of credit facility</link:label>
    <link:loc xlink:label="loc_LineOfCreditFacilityLenderDomain.3140.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditFacilityLenderDomain" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LineOfCreditFacilityLenderDomain.3140.11.6" xlink:to="lab_LineOfCreditFacilityLenderDomain.10532.339140" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LineOfCreditFacilityLenderDomain.10532.339140" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LineOfCreditFacilityLenderDomain.10532.339140">Line of Credit Facility, Lender [Domain]</link:label>
    <link:loc xlink:label="loc_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod.12435.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod.12435.11.6" xlink:to="lab_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod.10534.339141" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod.10534.339141" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod.10534.339141">Line of Credit Facility, Maximum Amount Outstanding During Period</link:label>
    <link:loc xlink:label="loc_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod.12435.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod.12435.11.7" xlink:to="lab_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod.354866.339142" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod.354866.339142" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod.354866.339142">Amount drawn down</link:label>
    <link:loc xlink:label="loc_LineOfCreditFacilityMaximumBorrowingCapacity.12440.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LineOfCreditFacilityMaximumBorrowingCapacity.12440.11.6" xlink:to="lab_LineOfCreditFacilityMaximumBorrowingCapacity.10520.339143" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LineOfCreditFacilityMaximumBorrowingCapacity.10520.339143" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LineOfCreditFacilityMaximumBorrowingCapacity.10520.339143">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:loc xlink:label="loc_LineOfCreditFacilityMaximumBorrowingCapacity.12440.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LineOfCreditFacilityMaximumBorrowingCapacity.12440.11.7" xlink:to="lab_LineOfCreditFacilityMaximumBorrowingCapacity7.354891.339144" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LineOfCreditFacilityMaximumBorrowingCapacity7.354891.339144" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LineOfCreditFacilityMaximumBorrowingCapacity7.354891.339144">Maximum borrowing amount of credit facility</link:label>
    <link:loc xlink:label="loc_LineOfCreditFacilityRemainingBorrowingCapacity.12483.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LineOfCreditFacilityRemainingBorrowingCapacity.12483.11.6" xlink:to="lab_LineOfCreditFacilityRemainingBorrowingCapacity.10541.339145" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LineOfCreditFacilityRemainingBorrowingCapacity.10541.339145" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LineOfCreditFacilityRemainingBorrowingCapacity.10541.339145">Line of Credit Facility, Remaining Borrowing Capacity</link:label>
    <link:loc xlink:label="loc_LineOfCreditFacilityRemainingBorrowingCapacity.12483.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LineOfCreditFacilityRemainingBorrowingCapacity.12483.11.7" xlink:to="lab_LineOfCreditFacilityRemainingBorrowingCapacity.354895.339146" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LineOfCreditFacilityRemainingBorrowingCapacity.354895.339146" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LineOfCreditFacilityRemainingBorrowingCapacity.354895.339146">Amount available for future draw down</link:label>
    <link:loc xlink:label="loc_LineOfCreditMember.3142.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LineOfCreditMember.3142.11.6" xlink:to="lab_LineOfCreditMember.354837.339147" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LineOfCreditMember.354837.339147" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LineOfCreditMember.354837.339147">Bank Facilities [Member]</link:label>
    <link:loc xlink:label="loc_LongtermDebtTypeAxis.3013.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongtermDebtTypeAxis.3013.11.6" xlink:to="lab_LongtermDebtTypeAxis.9963.339148" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongtermDebtTypeAxis.9963.339148" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LongtermDebtTypeAxis.9963.339148">Long-term Debt, Type [Axis]</link:label>
    <link:loc xlink:label="loc_LongtermDebtTypeDomain.3018.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongtermDebtTypeDomain.3018.11.6" xlink:to="lab_LongtermDebtTypeDomain.9961.339149" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongtermDebtTypeDomain.9961.339149" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LongtermDebtTypeDomain.9961.339149">Long-term Debt, Type [Domain]</link:label>
    <link:loc xlink:label="loc_LongtermDebtWeightedAverageInterestRate.12054.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongtermDebtWeightedAverageInterestRate.12054.11.7" xlink:to="lab_LongtermDebtWeightedAverageInterestRate.354896.339151" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongtermDebtWeightedAverageInterestRate.354896.339151" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LongtermDebtWeightedAverageInterestRate.354896.339151">Weighted average interest rate</link:label>
    <link:loc xlink:label="loc_LongtermDebtWeightedAverageInterestRate.12054.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongtermDebtWeightedAverageInterestRate.12054.11.6" xlink:to="lab_LongtermDebtWeightedAverageInterestRate.9956.339150" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongtermDebtWeightedAverageInterestRate.9956.339150" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LongtermDebtWeightedAverageInterestRate.9956.339150">Long-term Debt, Weighted Average Interest Rate</link:label>
    <link:loc xlink:label="loc_RepaymentsOfLinesOfCredit.15822.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RepaymentsOfLinesOfCredit" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RepaymentsOfLinesOfCredit.15822.11.6" xlink:to="lab_RepaymentsOfLinesOfCredit.15793.339152" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RepaymentsOfLinesOfCredit.15793.339152" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RepaymentsOfLinesOfCredit.15793.339152">Repayments of Lines of Credit</link:label>
    <link:loc xlink:label="loc_RepaymentsOfLinesOfCredit.15822.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RepaymentsOfLinesOfCredit" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RepaymentsOfLinesOfCredit.15822.11.7" xlink:to="lab_RepaymentsOfLinesOfCredit.354893.339153" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RepaymentsOfLinesOfCredit.354893.339153" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_RepaymentsOfLinesOfCredit.354893.339153">Amount repaid</link:label>
    <link:loc xlink:label="loc_DebtGuaranteedByDaqoGroupAndThirdPartyMember.40364.11.12" xlink:href="dq-20131231.xsd#dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtGuaranteedByDaqoGroupAndThirdPartyMember.40364.11.12" xlink:to="DebtGuaranteedbyDaqoGroupandThirdPartyMember.338587" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="DebtGuaranteedbyDaqoGroupandThirdPartyMember.338587" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="DebtGuaranteedbyDaqoGroupandThirdPartyMember.338587">Debt Guaranteed by Daqo Group and Third Party [Member]</link:label>
    <link:loc xlink:label="loc_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember.40323.11.6" xlink:href="dq-20131231.xsd#dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember.40323.11.6" xlink:to="lab_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember.354834.339098" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember.354834.339098" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember.354834.339098">Debt Guaranteed by Daqo Group and Mr. Guangfu Xu and Mr. Xinag Xu [Member]</link:label>
    <link:loc xlink:label="loc_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember.40323.11.12" xlink:href="dq-20131231.xsd#dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember.40323.11.12" xlink:to="lab_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember.354835.339099" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember.354835.339099" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember.354835.339099">Debt Guaranteed by Daqo Group and Mr. Guangfu Xu and Mr. Xiang Xu [Member]</link:label>
    <link:loc xlink:label="loc_DebtGuaranteedByDaqoGroupAndThirdPartyMember.40364.11.6" xlink:href="dq-20131231.xsd#dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtGuaranteedByDaqoGroupAndThirdPartyMember.40364.11.6" xlink:to="lab_DebtGuaranteedByDaqoGroupAndThirdPartyMember.338585" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtGuaranteedByDaqoGroupAndThirdPartyMember.338585" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtGuaranteedByDaqoGroupAndThirdPartyMember.338585">Debt Guaranteed by Daqo Group and Third Party [Member]</link:label>
    <link:loc xlink:label="loc_DebtGuaranteedByDaqoGroupMember.40324.11.6" xlink:href="dq-20131231.xsd#dq_DebtGuaranteedByDaqoGroupMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtGuaranteedByDaqoGroupMember.40324.11.6" xlink:to="lab_DebtGuaranteedByDaqoGroupMember.354833.339100" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtGuaranteedByDaqoGroupMember.354833.339100" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtGuaranteedByDaqoGroupMember.354833.339100">Debt Guaranteed by Daqo Group [Member]</link:label>
    <link:loc xlink:label="loc_DebtGuaranteedByDaqoGroupMember.40324.11.12" xlink:href="dq-20131231.xsd#dq_DebtGuaranteedByDaqoGroupMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtGuaranteedByDaqoGroupMember.40324.11.12" xlink:to="lab_DebtGuaranteedByDaqoGroupMember12.354836.339101" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtGuaranteedByDaqoGroupMember12.354836.339101" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_DebtGuaranteedByDaqoGroupMember12.354836.339101">Debt Guaranteed by Daqo Group [Member]</link:label>
    <link:loc xlink:label="loc_DebtInstrumentAxis.1361.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentAxis.1361.11.6" xlink:to="lab_DebtInstrumentAxis.3587.339102" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentAxis.3587.339102" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentAxis.3587.339102">Debt Instrument [Axis]</link:label>
    <link:loc xlink:label="loc_DebtInstrumentNameDomain.1363.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentNameDomain.1363.11.6" xlink:to="lab_DebtInstrumentNameDomain.3620.339103" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentNameDomain.3620.339103" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentNameDomain.3620.339103">Debt Instrument, Name [Domain]</link:label>
    <link:loc xlink:label="loc_ScheduleOfShortTermDebtTable.4903.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfShortTermDebtTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfShortTermDebtTable.4903.11.6" xlink:to="lab_ScheduleOfShortTermDebtTable.16904.339104" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfShortTermDebtTable.16904.339104" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfShortTermDebtTable.16904.339104">Schedule of Short-term Debt [Table]</link:label>
    <link:loc xlink:label="loc_ShortTermBankLoansAndNotesPayable.17067.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShortTermBankLoansAndNotesPayable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShortTermBankLoansAndNotesPayable.17067.11.6" xlink:to="lab_ShortTermBankLoansAndNotesPayable.17671.339105" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShortTermBankLoansAndNotesPayable.17671.339105" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ShortTermBankLoansAndNotesPayable.17671.339105">Short-term Bank Loans and Notes Payable</link:label>
    <link:loc xlink:label="loc_ShortTermBankLoansAndNotesPayable.17067.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShortTermBankLoansAndNotesPayable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShortTermBankLoansAndNotesPayable.17067.11.8" xlink:to="lab_ShortTermBankLoansAndNotesPayable8.354827.339106" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShortTermBankLoansAndNotesPayable8.354827.339106" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ShortTermBankLoansAndNotesPayable8.354827.339106">Short-term bank borrowings</link:label>
    <link:loc xlink:label="loc_ShortTermDebtLineItems.5104.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShortTermDebtLineItems" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShortTermDebtLineItems.5104.11.6" xlink:to="lab_ShortTermDebtLineItems.17697.339107" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShortTermDebtLineItems.17697.339107" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ShortTermDebtLineItems.17697.339107">Short-term Debt [Line Items]</link:label>
    <link:loc xlink:label="loc_ShortTermDebtTypeAxis.5106.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShortTermDebtTypeAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShortTermDebtTypeAxis.5106.11.6" xlink:to="lab_ShortTermDebtTypeAxis.17701.339108" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShortTermDebtTypeAxis.17701.339108" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ShortTermDebtTypeAxis.17701.339108">Short-term Debt, Type [Axis]</link:label>
    <link:loc xlink:label="loc_ShortTermDebtTypeDomain.5105.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShortTermDebtTypeDomain" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShortTermDebtTypeDomain.5105.11.6" xlink:to="lab_ShortTermDebtTypeDomain.17700.339109" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShortTermDebtTypeDomain.17700.339109" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ShortTermDebtTypeDomain.17700.339109">Short-term Debt, Type [Domain]</link:label>
    <link:loc xlink:label="loc_ShortTermDebtWeightedAverageInterestRate.17080.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShortTermDebtWeightedAverageInterestRate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShortTermDebtWeightedAverageInterestRate.17080.11.6" xlink:to="lab_ShortTermDebtWeightedAverageInterestRate.17698.339110" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShortTermDebtWeightedAverageInterestRate.17698.339110" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ShortTermDebtWeightedAverageInterestRate.17698.339110">Short-term Debt, Weighted Average Interest Rate</link:label>
    <link:loc xlink:label="loc_ShortTermDebtWeightedAverageInterestRate.17080.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShortTermDebtWeightedAverageInterestRate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShortTermDebtWeightedAverageInterestRate.17080.11.8" xlink:to="lab_ShortTermDebtWeightedAverageInterestRate8.354832.339111" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShortTermDebtWeightedAverageInterestRate8.354832.339111" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ShortTermDebtWeightedAverageInterestRate8.354832.339111">Interest rate on short-term bank borrowings</link:label>
    <link:loc xlink:label="loc_LineOfCreditFacilityMaximumBorrowingCapacity.12440.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LineOfCreditFacilityMaximumBorrowingCapacity.12440.11.8" xlink:to="LineOfCreditFacilityMaximumBorrowingCapacity.354813.339112" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="LineOfCreditFacilityMaximumBorrowingCapacity.354813.339112" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="LineOfCreditFacilityMaximumBorrowingCapacity.354813.339112">Maximum borrowing capacity of credit line</link:label>
    <link:loc xlink:label="loc_DebtCurrent.7725.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtCurrent.7725.11.9" xlink:to="lab_DebtCurrent.354789.339088" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtCurrent.354789.339088" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_DebtCurrent.354789.339088">Total borrowings, current</link:label>
    <link:loc xlink:label="loc_DebtLongtermAndShorttermCombinedAmount.7684.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtLongtermAndShorttermCombinedAmount.7684.11.9" xlink:to="lab_DebtLongtermAndShorttermCombinedAmount.354788.339090" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtLongtermAndShorttermCombinedAmount.354788.339090" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_DebtLongtermAndShorttermCombinedAmount.354788.339090">Total</link:label>
    <link:loc xlink:label="loc_DebtLongtermAndShorttermCombinedAmount.7684.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtLongtermAndShorttermCombinedAmount.7684.11.6" xlink:to="lab_DebtLongtermAndShorttermCombinedAmount.3576.339089" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtLongtermAndShorttermCombinedAmount.3576.339089" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtLongtermAndShorttermCombinedAmount.3576.339089">Debt, Long-term and Short-term, Combined Amount</link:label>
    <link:loc xlink:label="loc_LongTermDebtCurrent.12756.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermDebtCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermDebtCurrent.12756.11.6" xlink:to="lab_LongTermDebtCurrent.11023.339091" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongTermDebtCurrent.11023.339091" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LongTermDebtCurrent.11023.339091">Long-term Debt, Current Maturities</link:label>
    <link:loc xlink:label="loc_LongTermDebtCurrent.12756.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermDebtCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermDebtCurrent.12756.11.8" xlink:to="lab_LongTermDebtCurrent.354790.339092" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongTermDebtCurrent.354790.339092" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LongTermDebtCurrent.354790.339092">Long-term bank borrowings, current portion</link:label>
    <link:loc xlink:label="loc_OtherShortTermBorrowings.14048.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherShortTermBorrowings" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherShortTermBorrowings.14048.11.6" xlink:to="lab_OtherShortTermBorrowings.13012.339093" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherShortTermBorrowings.13012.339093" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OtherShortTermBorrowings.13012.339093">Other Short-term Borrowings</link:label>
    <link:loc xlink:label="loc_OtherShortTermBorrowings.14048.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherShortTermBorrowings" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherShortTermBorrowings.14048.11.8" xlink:to="lab_OtherShortTermBorrowings.354828.339094" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherShortTermBorrowings.354828.339094" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OtherShortTermBorrowings.354828.339094">Other short-term borrowing</link:label>
    <link:loc xlink:label="loc_DebtCurrent.7725.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtCurrent.7725.11.6" xlink:to="us-gaap_DebtCurrent_lbl.247530.339095" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_DebtCurrent_lbl.247530.339095" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_DebtCurrent_lbl.247530.339095">Debt Current</link:label>
    <link:loc xlink:label="loc_LongTermDebtNoncurrent.12757.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermDebtNoncurrent.12757.11.6" xlink:to="us-gaap_LongTermDebtNoncurrent_lbl.247666.339096" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_LongTermDebtNoncurrent_lbl.247666.339096" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_LongTermDebtNoncurrent_lbl.247666.339096">Long Term Debt Noncurrent</link:label>
    <link:loc xlink:label="loc_LongTermDebtNoncurrent.12757.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermDebtNoncurrent.12757.11.8" xlink:to="us-gaap_LongTermDebtNoncurrent_lbl.247668.339097" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_LongTermDebtNoncurrent_lbl.247668.339097" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_LongTermDebtNoncurrent_lbl.247668.339097">Long-term bank borrowings, non-current portion</link:label>
    <link:loc xlink:label="loc_LongTermDebt.12685.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermDebt" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermDebt.12685.11.6" xlink:to="lab_LongTermDebt.10884.339156" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongTermDebt.10884.339156" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LongTermDebt.10884.339156">Long-term Debt</link:label>
    <link:loc xlink:label="loc_LongTermDebt.12685.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermDebt" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermDebt.12685.11.9" xlink:to="lab_LongTermDebt.354820.339157" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongTermDebt.354820.339157" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_LongTermDebt.354820.339157">Total</link:label>
    <link:loc xlink:label="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths.12758.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths.12758.11.6" xlink:to="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths.11008.339158" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths.11008.339158" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths.11008.339158">Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months</link:label>
    <link:loc xlink:label="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths.12758.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths.12758.11.7" xlink:to="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths.354823.339159" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths.354823.339159" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths.354823.339159">2014</link:label>
    <link:loc xlink:label="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour.12748.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour.12748.11.6" xlink:to="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour.10999.339160" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour.10999.339160" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour.10999.339160">Long-term Debt, Maturities, Repayments of Principal in Year Four</link:label>
    <link:loc xlink:label="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour.12748.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour.12748.11.7" xlink:to="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour.354903.339161" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour.354903.339161" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour.354903.339161">2017</link:label>
    <link:loc xlink:label="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree.12752.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree.12752.11.6" xlink:to="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree.10994.339162" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree.10994.339162" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree.10994.339162">Long-term Debt, Maturities, Repayments of Principal in Year Three</link:label>
    <link:loc xlink:label="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree.12752.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree.12752.11.7" xlink:to="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree.354821.339163" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree.354821.339163" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree.354821.339163">2016</link:label>
    <link:loc xlink:label="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo.12742.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo.12742.11.6" xlink:to="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo.10996.339164" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo.10996.339164" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo.10996.339164">Long-term Debt, Maturities, Repayments of Principal in Year Two</link:label>
    <link:loc xlink:label="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo.12742.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo.12742.11.7" xlink:to="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo.354822.339165" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo.354822.339165" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo.354822.339165">2015</link:label>
    <link:loc xlink:label="loc_ScheduleOfDebtTableTextBlock.16363.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfDebtTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfDebtTableTextBlock.16363.11.6" xlink:to="lab_ScheduleOfDebtTableTextBlock.16595.338706" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfDebtTableTextBlock.16595.338706" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfDebtTableTextBlock.16595.338706">Schedule of Debt [Table Text Block]</link:label>
    <link:loc xlink:label="loc_ScheduleOfDebtTableTextBlock.16363.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfDebtTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfDebtTableTextBlock.16363.11.7" xlink:to="lab_ScheduleOfDebtTableTextBlock7.249032.338707" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfDebtTableTextBlock7.249032.338707" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfDebtTableTextBlock7.249032.338707">Schedule of Bank Borrowings</link:label>
    <link:loc xlink:label="loc_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.16372.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:type="locator" />
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    <link:label xlink:label="lab_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.17266" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.17266">Schedule of Maturities of Long-term Debt [Table Text Block]</link:label>
    <link:loc xlink:label="loc_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.16372.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:type="locator" />
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    <link:label xlink:label="lab_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.134443.339507" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.134443.339507">Schedule of Principal Maturities of Long-term Bank Borrowings</link:label>
    <link:loc xlink:label="loc_ScheduleOfShortTermDebtTextBlock.16589.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfShortTermDebtTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfShortTermDebtTextBlock.16589.11.6" xlink:to="lab_ScheduleOfShortTermDebtTextBlock.16897.338708" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfShortTermDebtTextBlock.16897.338708" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfShortTermDebtTextBlock.16897.338708">Schedule of Short-term Debt [Table Text Block]</link:label>
    <link:loc xlink:label="loc_ScheduleOfShortTermDebtTextBlock.16589.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfShortTermDebtTextBlock" xlink:type="locator" />
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    <link:label xlink:label="lab_ScheduleOfShortTermDebtTextBlock.249033.338709" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfShortTermDebtTextBlock.249033.338709">Schedule of Short-Term Borrowings</link:label>
    <link:loc xlink:label="loc_CommitmentsAndContingenciesDisclosureAbstract.1079.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_CommitmentsDisclosureTextBlock.7118.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommitmentsDisclosureTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_AdditionalPaidInCapitalCommonStock.5814.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:type="locator" />
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    <link:loc xlink:label="loc_AdditionalPaidInCapitalCommonStock.5814.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:type="locator" />
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    <link:loc xlink:label="loc_AdvancesOnInventoryPurchases.5881.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AdvancesOnInventoryPurchases" xlink:type="locator" />
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    <link:loc xlink:label="loc_CommonStockValueOutstanding.7142.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommonStockValueOutstanding" xlink:type="locator" />
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    <link:loc xlink:label="loc_CommonStockValueOutstanding.7142.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommonStockValueOutstanding" xlink:type="locator" />
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    <link:label xlink:label="lab_CommonStockValueOutstanding7.174794.383876" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CommonStockValueOutstanding7.174794.383876">Ordinary shares; $0.0001 per value 500,000,000 shares authorized as of December 31, 2012 and 2013; 175,714,103 and 175,714,103 shares issued as of December 31, 2012 and 2013, respectively and 172,877,433 and 173,427,853 shares outstanding as of December 31, 2012 and 2013, respectively</link:label>
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    <link:loc xlink:label="loc_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures.11992.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:type="locator" />
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    <link:loc xlink:label="loc_NotesAndLoansReceivableNetCurrent.13425.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NotesAndLoansReceivableNetCurrent" xlink:type="locator" />
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    <link:loc xlink:label="loc_NotesAndLoansReceivableNetCurrent.13425.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NotesAndLoansReceivableNetCurrent" xlink:type="locator" />
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    <link:loc xlink:label="loc_NotesPayableCurrent.13431.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NotesPayableCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NotesPayableCurrent.13431.11.6" xlink:to="lab_NotesPayableCurrent.12132.338174" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_NotesPayableCurrent.13431.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NotesPayableCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NotesPayableCurrent.13431.11.7" xlink:to="lab_NotesPayableCurrent.482557.338175" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NotesPayableCurrent.482557.338175" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_NotesPayableCurrent.482557.338175">Notes payable</link:label>
    <link:loc xlink:label="loc_RestrictedCashAndCashEquivalentsAtCarryingValue.15928.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:type="locator" />
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    <link:loc xlink:label="loc_RestrictedCashAndCashEquivalentsAtCarryingValue.15928.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:type="locator" />
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    <link:loc xlink:label="loc_TreasuryStockValue.17716.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_TreasuryStockValue" xlink:type="locator" />
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    <link:label xlink:label="lab_TreasuryStockValue.18646.338176" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_TreasuryStockValue.18646.338176">Treasury Stock, Value</link:label>
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    <link:loc xlink:label="loc_AccountsPayableCurrent.5684.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:type="locator" />
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    <link:loc xlink:label="loc_AccountsReceivableNetCurrent.5665.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:type="locator" />
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    <link:loc xlink:label="loc_AccountsReceivableNetCurrent.5665.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:type="locator" />
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    <link:loc xlink:label="loc_AssetsAbstract.620.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetsAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AssetsAbstract.620.11.7" xlink:to="us-gaap_AssetsAbstract_lbl.247472.338189" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_AssetsAbstract_lbl.247472.338189" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_AssetsAbstract_lbl.247472.338189">ASSETS:</link:label>
    <link:loc xlink:label="loc_AssetsCurrent.6084.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetsCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AssetsCurrent.6084.11.6" xlink:to="us-gaap_AssetsCurrent_lbl.247473.338190" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_AssetsCurrent_lbl.247473.338190" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_AssetsCurrent_lbl.247473.338190">Assets Current</link:label>
    <link:loc xlink:label="loc_AssetsCurrent.6084.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetsCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AssetsCurrent.6084.11.9" xlink:to="us-gaap_AssetsCurrent_lbl.247474.338191" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_AssetsCurrent_lbl.247474.338191" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_AssetsCurrent_lbl.247474.338191">Total current assets</link:label>
    <link:loc xlink:label="loc_AssetsCurrentAbstract.616.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AssetsCurrentAbstract.616.11.6" xlink:to="us-gaap_AssetsCurrentAbstract_lbl.247475.338192" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_AssetsCurrentAbstract_lbl.247475.338192" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_AssetsCurrentAbstract_lbl.247475.338192">Assets Current [Abstract]</link:label>
    <link:loc xlink:label="loc_AssetsCurrentAbstract.616.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AssetsCurrentAbstract.616.11.7" xlink:to="us-gaap_AssetsCurrentAbstract_lbl.247476.338193" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_AssetsCurrentAbstract_lbl.247476.338193" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_AssetsCurrentAbstract_lbl.247476.338193">Current assets:</link:label>
    <link:loc xlink:label="loc_CashAndCashEquivalentsAtCarryingValue.6843.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashAndCashEquivalentsAtCarryingValue.6843.11.6" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl.247480.338194" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl.247480.338194" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl.247480.338194">Cash And Cash Equivalents At Carrying Value</link:label>
    <link:loc xlink:label="loc_CashAndCashEquivalentsAtCarryingValue.6843.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashAndCashEquivalentsAtCarryingValue.6843.11.7" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl.247483.338195" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl.247483.338195" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl.247483.338195">Cash and cash equivalents</link:label>
    <link:loc xlink:label="loc_CommitmentsAndContingencies.7121.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CommitmentsAndContingencies.7121.11.6" xlink:to="us-gaap_CommitmentsAndContingencies_lbl.247488.338196" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_CommitmentsAndContingencies_lbl.247488.338196" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_CommitmentsAndContingencies_lbl.247488.338196">Commitments And Contingencies</link:label>
    <link:loc xlink:label="loc_CommitmentsAndContingencies.7121.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CommitmentsAndContingencies.7121.11.7" xlink:to="us-gaap_CommitmentsAndContingencies_lbl.247489.338197" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_CommitmentsAndContingencies_lbl.247489.338197" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_CommitmentsAndContingencies_lbl.247489.338197">Commitments (Note 17)</link:label>
    <link:loc xlink:label="loc_CustomerAdvancesCurrent.7552.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CustomerAdvancesCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerAdvancesCurrent.7552.11.7" xlink:to="us-gaap_CustomerAdvancesCurrent_lbl.247525.338200" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_CustomerAdvancesCurrent_lbl.247525.338200" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_CustomerAdvancesCurrent_lbl.247525.338200">Advances from customers</link:label>
    <link:loc xlink:label="loc_CustomerAdvancesNoncurrent.7562.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CustomerAdvancesNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerAdvancesNoncurrent.7562.11.7" xlink:to="us-gaap_CustomerAdvancesNoncurrent_lbl.247527.338201" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_CustomerAdvancesNoncurrent_lbl.247527.338201" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_CustomerAdvancesNoncurrent_lbl.247527.338201">Advance from customers</link:label>
    <link:loc xlink:label="loc_DebtCurrent.7725.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtCurrent.7725.11.7" xlink:to="us-gaap_DebtCurrent_lbl.247531.338202" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_DebtCurrent_lbl.247531.338202" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_DebtCurrent_lbl.247531.338202">Short-term borrowings, including current portion of long-term borrowings</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsNetCurrent.7974.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsNetCurrent.7974.11.6" xlink:to="us-gaap_DeferredTaxAssetsNetCurrent_lbl.247539.338203" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_DeferredTaxAssetsNetCurrent_lbl.247539.338203" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsNetCurrent_lbl.247539.338203">Deferred Tax Assets Net Current</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsNetCurrent.7974.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsNetCurrent.7974.11.7" xlink:to="us-gaap_DeferredTaxAssetsNetCurrent_lbl.247540.338204" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_DeferredTaxAssetsNetCurrent_lbl.247540.338204" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsNetCurrent_lbl.247540.338204">Deferred tax assets - current</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsNetNoncurrent.7988.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsNetNoncurrent.7988.11.6" xlink:to="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl.247541.338205" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl.247541.338205" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl.247541.338205">Deferred Tax Assets Net Noncurrent</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsNetNoncurrent.7988.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsNetNoncurrent.7988.11.7" xlink:to="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl.247542.338206" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl.247542.338206" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl.247542.338206">Deferred tax assets</link:label>
    <link:loc xlink:label="loc_DueFromRelatedPartiesCurrent.9028.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DueFromRelatedPartiesCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DueFromRelatedPartiesCurrent.9028.11.6" xlink:to="us-gaap_DueFromRelatedPartiesCurrent_lbl.247563.338207" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_DueFromRelatedPartiesCurrent_lbl.247563.338207" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_DueFromRelatedPartiesCurrent_lbl.247563.338207">Due From Related Parties Current</link:label>
    <link:loc xlink:label="loc_DueFromRelatedPartiesCurrent.9028.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DueFromRelatedPartiesCurrent" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_DueFromRelatedPartiesCurrent_lbl.247564.338208" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_DueFromRelatedPartiesCurrent_lbl.247564.338208">Amount due from related parties</link:label>
    <link:loc xlink:label="loc_DueToRelatedPartiesCurrent.9048.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DueToRelatedPartiesCurrent" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_DueToRelatedPartiesCurrent_lbl.247565.338209" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_DueToRelatedPartiesCurrent_lbl.247565.338209">Due To Related Parties Current</link:label>
    <link:loc xlink:label="loc_DueToRelatedPartiesCurrent.9048.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DueToRelatedPartiesCurrent" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_DueToRelatedPartiesCurrent_lbl.247566.338210" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_DueToRelatedPartiesCurrent_lbl.247566.338210">Amount due to related parties</link:label>
    <link:loc xlink:label="loc_DueToRelatedPartiesNoncurrent.9030.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DueToRelatedPartiesNoncurrent" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_DueToRelatedPartiesNoncurrent_lbl.247568.338211" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_DueToRelatedPartiesNoncurrent_lbl.247568.338211">Due To Related Parties Noncurrent</link:label>
    <link:loc xlink:label="loc_DueToRelatedPartiesNoncurrent.9030.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DueToRelatedPartiesNoncurrent" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_DueToRelatedPartiesNoncurrent_lbl.247569.338212" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_DueToRelatedPartiesNoncurrent_lbl.247569.338212">Amount due to related party</link:label>
    <link:loc xlink:label="loc_InventoryNet.11816.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InventoryNet" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_InventoryNet_lbl.247648.338213" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_InventoryNet_lbl.247648.338213">Inventory Net</link:label>
    <link:loc xlink:label="loc_InventoryNet.11816.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InventoryNet" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_InventoryNet_lbl.247649.338214" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_InventoryNet_lbl.247649.338214">Inventories</link:label>
    <link:loc xlink:label="loc_Liabilities.12166.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Liabilities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_Liabilities.12166.11.6" xlink:to="us-gaap_Liabilities_lbl.247656.338215" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_Liabilities_lbl.247656.338215" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_Liabilities_lbl.247656.338215">Liabilities</link:label>
    <link:loc xlink:label="loc_Liabilities.12166.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Liabilities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_Liabilities.12166.11.9" xlink:to="us-gaap_Liabilities_lbl.247657.338216" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_Liabilities_lbl.247657.338216" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_Liabilities_lbl.247657.338216">Total liabilities</link:label>
    <link:loc xlink:label="loc_LiabilitiesAndStockholdersEquity.12135.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:type="locator" />
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    <link:loc xlink:label="loc_LiabilitiesAndStockholdersEquity.12135.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl.247659.338218" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_LiabilitiesAndStockholdersEquity_lbl.247659.338218">TOTAL LIABILITIES AND EQUITY</link:label>
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    <link:labelArc xlink:from="loc_LiabilitiesAndStockholdersEquityAbstract.3066.11.7" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl.247661.338220" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:label xlink:label="us-gaap_LiabilitiesCurrent_lbl.247662.338221" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_LiabilitiesCurrent_lbl.247662.338221">Liabilities Current</link:label>
    <link:loc xlink:label="loc_LiabilitiesCurrent.12126.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_LiabilitiesCurrent_lbl.247663.338222" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_LiabilitiesCurrent_lbl.247663.338222">Total current liabilities</link:label>
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    <link:label xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl.247664.338223" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_LiabilitiesCurrentAbstract_lbl.247664.338223">Liabilities Current [Abstract]</link:label>
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    <link:label xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl.247665.338224" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_LiabilitiesCurrentAbstract_lbl.247665.338224">Current liabilities:</link:label>
    <link:loc xlink:label="loc_LongTermDebtNoncurrent.12757.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_LongTermDebtNoncurrent_lbl.247667.338225" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_LongTermDebtNoncurrent_lbl.247667.338225">Long-term borrowings</link:label>
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    <link:label xlink:label="us-gaap_MinorityInterest_lbl.247669.338226" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_MinorityInterest_lbl.247669.338226">Minority Interest</link:label>
    <link:loc xlink:label="loc_MinorityInterest.13081.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_MinorityInterest" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_MinorityInterest_lbl.247670.338227" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_MinorityInterest_lbl.247670.338227">Noncontrolling interest</link:label>
    <link:loc xlink:label="loc_OtherAssetsNoncurrent.13824.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_OtherAssetsNoncurrent_lbl.247711.338228" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_OtherAssetsNoncurrent_lbl.247711.338228">Other Assets Noncurrent</link:label>
    <link:loc xlink:label="loc_OtherAssetsNoncurrent.13824.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_OtherAssetsNoncurrent_lbl.247712.338229" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_OtherAssetsNoncurrent_lbl.247712.338229">Other non-current assets</link:label>
    <link:loc xlink:label="loc_OtherDeferredCreditsNoncurrent.13937.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherDeferredCreditsNoncurrent" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_OtherDeferredCreditsNoncurrent_lbl.247719.338230" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_OtherDeferredCreditsNoncurrent_lbl.247719.338230">Other Deferred Credits Noncurrent</link:label>
    <link:loc xlink:label="loc_OtherDeferredCreditsNoncurrent.13937.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherDeferredCreditsNoncurrent" xlink:type="locator" />
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    <link:loc xlink:label="loc_OtherLiabilitiesCurrent.14014.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherLiabilitiesCurrent" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_OtherLiabilitiesCurrent_lbl.247724.338232" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_OtherLiabilitiesCurrent_lbl.247724.338232">Other Liabilities Current</link:label>
    <link:loc xlink:label="loc_OtherLiabilitiesCurrent.14014.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherLiabilitiesCurrent" xlink:type="locator" />
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    <link:loc xlink:label="loc_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest.17306.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:type="locator" />
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    <link:loc xlink:label="loc_TreasuryStockShares.17707.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_TreasuryStockShares" xlink:type="locator" />
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    <link:loc xlink:label="loc_AllowanceForDoubtfulAccountsReceivableCurrent.5921.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:type="locator" />
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    <link:loc xlink:label="loc_ClassificationOfVariableInterestEntityDomain.1026.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_CommonStockSharesOutstanding_lbl.247502.338273" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_CommonStockSharesOutstanding_lbl.247502.338273">Ordinary shares, shares outstanding</link:label>
    <link:loc xlink:label="loc_StatementLineItems.5164.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementLineItems" xlink:type="locator" />
    <link:labelArc xlink:from="loc_StatementLineItems.5164.11.6" xlink:to="us-gaap_StatementLineItems_lbl.247803.338278" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_StatementLineItems_lbl.247803.338278" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_StatementLineItems_lbl.247803.338278">Statement [Line Items]</link:label>
    <link:loc xlink:label="loc_StatementLineItems.5164.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementLineItems" xlink:type="locator" />
    <link:labelArc xlink:from="loc_StatementLineItems.5164.11.7" xlink:to="us-gaap_StatementLineItems_lbl.247804.338279" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_StatementLineItems_lbl.247804.338279" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_StatementLineItems_lbl.247804.338279">Statement [Line Items]</link:label>
    <link:loc xlink:label="loc_StatementTable.5163.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_StatementTable.5163.11.6" xlink:to="us-gaap_StatementTable_lbl.247815.338280" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_StatementTable_lbl.247815.338280" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_StatementTable_lbl.247815.338280">Statement [Table]</link:label>
    <link:loc xlink:label="loc_StatementTable.5163.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_StatementTable.5163.11.7" xlink:to="us-gaap_StatementTable_lbl.247816.338281" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_StatementTable_lbl.247816.338281" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_StatementTable_lbl.247816.338281">Statement [Table]</link:label>
    <link:loc xlink:label="loc_VariableInterestEntitiesByClassificationOfEntityAxis.5528.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_VariableInterestEntitiesByClassificationOfEntityAxis.5528.11.6" xlink:to="us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_lbl.247854.338282" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_lbl.247854.338282" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_lbl.247854.338282">Variable Interest Entities By Classification Of Entity [Axis]</link:label>
    <link:loc xlink:label="loc_VariableInterestEntitiesByClassificationOfEntityAxis.5528.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_VariableInterestEntitiesByClassificationOfEntityAxis.5528.11.7" xlink:to="us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_lbl.247855.338283" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_lbl.247855.338283" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_lbl.247855.338283">Variable Interest Entities by Classification of Entity [Axis]</link:label>
    <link:loc xlink:label="loc_LeasesOperatingAbstract.3036.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LeasesOperatingAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LeasesOperatingAbstract.3036.11.6" xlink:to="lab_LeasesOperatingAbstract.10438" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LeasesOperatingAbstract.10438" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LeasesOperatingAbstract.10438">Leases, Operating [Abstract]</link:label>
    <link:loc xlink:label="loc_LeasesOperatingAbstract.3036.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LeasesOperatingAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LeasesOperatingAbstract.3036.11.7" xlink:to="lab_LeasesOperatingAbstract7.1890183.387263" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LeasesOperatingAbstract7.1890183.387263" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LeasesOperatingAbstract7.1890183.387263">Lease commitments:</link:label>
    <link:loc xlink:label="loc_OperatingLeasesFutureMinimumPaymentsDue.13616.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLeasesFutureMinimumPaymentsDue.13616.11.6" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDue.12410.338954" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDue.12410.338954" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLeasesFutureMinimumPaymentsDue.12410.338954">Operating Leases, Future Minimum Payments Due</link:label>
    <link:loc xlink:label="loc_OperatingLeasesFutureMinimumPaymentsDue.13616.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLeasesFutureMinimumPaymentsDue.13616.11.9" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDue.351996.338955" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDue.351996.338955" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLeasesFutureMinimumPaymentsDue.351996.338955">Total</link:label>
    <link:loc xlink:label="loc_OperatingLeasesFutureMinimumPaymentsDueCurrent.13585.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLeasesFutureMinimumPaymentsDueCurrent.13585.11.6" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueCurrent.12378.338956" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueCurrent.12378.338956" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLeasesFutureMinimumPaymentsDueCurrent.12378.338956">Operating Leases, Future Minimum Payments Due, Next Twelve Months</link:label>
    <link:loc xlink:label="loc_OperatingLeasesFutureMinimumPaymentsDueCurrent.13585.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLeasesFutureMinimumPaymentsDueCurrent.13585.11.7" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueCurrent7.351997.338957" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueCurrent7.351997.338957" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLeasesFutureMinimumPaymentsDueCurrent7.351997.338957">2014</link:label>
    <link:loc xlink:label="loc_OperatingLeasesFutureMinimumPaymentsDueInFourYears.13569.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLeasesFutureMinimumPaymentsDueInFourYears.13569.11.6" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueInFourYears.12385.338958" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueInFourYears.12385.338958" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLeasesFutureMinimumPaymentsDueInFourYears.12385.338958">Operating Leases, Future Minimum Payments, Due in Four Years</link:label>
    <link:loc xlink:label="loc_OperatingLeasesFutureMinimumPaymentsDueInFourYears.13569.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLeasesFutureMinimumPaymentsDueInFourYears.13569.11.7" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueInFourYears.352000.338959" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueInFourYears.352000.338959" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLeasesFutureMinimumPaymentsDueInFourYears.352000.338959">2017</link:label>
    <link:loc xlink:label="loc_OperatingLeasesFutureMinimumPaymentsDueInThreeYears.13581.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLeasesFutureMinimumPaymentsDueInThreeYears.13581.11.6" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueInThreeYears.12366.338960" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueInThreeYears.12366.338960" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLeasesFutureMinimumPaymentsDueInThreeYears.12366.338960">Operating Leases, Future Minimum Payments, Due in Three Years</link:label>
    <link:loc xlink:label="loc_OperatingLeasesFutureMinimumPaymentsDueInThreeYears.13581.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLeasesFutureMinimumPaymentsDueInThreeYears.13581.11.7" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueInThreeYears.351999.338961" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueInThreeYears.351999.338961" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLeasesFutureMinimumPaymentsDueInThreeYears.351999.338961">2016</link:label>
    <link:loc xlink:label="loc_OperatingLeasesFutureMinimumPaymentsDueInTwoYears.13613.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLeasesFutureMinimumPaymentsDueInTwoYears.13613.11.6" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueInTwoYears.12376.338962" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueInTwoYears.12376.338962" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLeasesFutureMinimumPaymentsDueInTwoYears.12376.338962">Operating Leases, Future Minimum Payments, Due in Two Years</link:label>
    <link:loc xlink:label="loc_OperatingLeasesFutureMinimumPaymentsDueInTwoYears.13613.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLeasesFutureMinimumPaymentsDueInTwoYears.13613.11.7" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueInTwoYears.351998.338963" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueInTwoYears.351998.338963" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLeasesFutureMinimumPaymentsDueInTwoYears.351998.338963">2015</link:label>
    <link:loc xlink:label="loc_OperatingLeasesFutureMinimumPaymentsDueThereafter.13567.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLeasesFutureMinimumPaymentsDueThereafter.13567.11.6" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueThereafter.12318.338964" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueThereafter.12318.338964" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLeasesFutureMinimumPaymentsDueThereafter.12318.338964">Operating Leases, Future Minimum Payments, Due Thereafter</link:label>
    <link:loc xlink:label="loc_OperatingLeasesFutureMinimumPaymentsDueThereafter.13567.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLeasesFutureMinimumPaymentsDueThereafter.13567.11.7" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueThereafter.352002.338965" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueThereafter.352002.338965" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLeasesFutureMinimumPaymentsDueThereafter.352002.338965">2018 and later</link:label>
    <link:loc xlink:label="loc_OperatingLeasesRentExpenseNet.13584.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLeasesRentExpenseNet" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLeasesRentExpenseNet.13584.11.6" xlink:to="lab_OperatingLeasesRentExpenseNet.12348.338966" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLeasesRentExpenseNet.12348.338966" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLeasesRentExpenseNet.12348.338966">Operating Leases, Rent Expense, Net</link:label>
    <link:loc xlink:label="loc_OperatingLeasesRentExpenseNet.13584.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLeasesRentExpenseNet" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLeasesRentExpenseNet.13584.11.7" xlink:to="lab_OperatingLeasesRentExpenseNet.351995.338967" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLeasesRentExpenseNet.351995.338967" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLeasesRentExpenseNet.351995.338967">Lease expense</link:label>
    <link:loc xlink:label="loc_OtherCommitmentsAbstract.3726.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherCommitmentsAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherCommitmentsAbstract.3726.11.6" xlink:to="lab_OtherCommitmentsAbstract.12976" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherCommitmentsAbstract.12976" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OtherCommitmentsAbstract.12976">Other Commitments [Abstract]</link:label>
    <link:loc xlink:label="loc_OtherCommitmentsAbstract.3726.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherCommitmentsAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherCommitmentsAbstract.3726.11.7" xlink:to="lab_OtherCommitmentsAbstract7.387264" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherCommitmentsAbstract7.387264" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OtherCommitmentsAbstract7.387264">Capital commitments:</link:label>
    <link:loc xlink:label="loc_PurchaseCommitmentRemainingMinimumAmountCommitted.15384.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PurchaseCommitmentRemainingMinimumAmountCommitted" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PurchaseCommitmentRemainingMinimumAmountCommitted.15384.11.6" xlink:to="lab_PurchaseCommitmentRemainingMinimumAmountCommitted.15684" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PurchaseCommitmentRemainingMinimumAmountCommitted.15684" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PurchaseCommitmentRemainingMinimumAmountCommitted.15684">Purchase Commitment, Remaining Minimum Amount Committed</link:label>
    <link:loc xlink:label="loc_PurchaseCommitmentRemainingMinimumAmountCommitted.15384.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PurchaseCommitmentRemainingMinimumAmountCommitted" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PurchaseCommitmentRemainingMinimumAmountCommitted.15384.11.7" xlink:to="lab_PurchaseCommitmentRemainingMinimumAmountCommitted.339542" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PurchaseCommitmentRemainingMinimumAmountCommitted.339542" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PurchaseCommitmentRemainingMinimumAmountCommitted.339542">Commitments outstanding for the purchase of property, plant and equipment</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInAccruedWarrantyExpense.40339.11.12" xlink:href="dq-20131231.xsd#dq_IncreaseDecreaseInAccruedWarrantyExpense" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInAccruedWarrantyExpense.40339.11.12" xlink:to="dq_IncreaseDecreaseInAccruedWarrantyExpense_lbl.247622.338433" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_IncreaseDecreaseInAccruedWarrantyExpense_lbl.247622.338433" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="dq_IncreaseDecreaseInAccruedWarrantyExpense_lbl.247622.338433">Increase Decrease In Accrued Warranty Expense</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInAccruedWarrantyExpense.40339.11.6" xlink:href="dq-20131231.xsd#dq_IncreaseDecreaseInAccruedWarrantyExpense" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInAccruedWarrantyExpense.40339.11.6" xlink:to="dq_IncreaseDecreaseInAccruedWarrantyExpense_lbl.247623.338431" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_IncreaseDecreaseInAccruedWarrantyExpense_lbl.247623.338431" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="dq_IncreaseDecreaseInAccruedWarrantyExpense_lbl.247623.338431">Increase Decrease In Accrued Warranty Expense</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInAccruedWarrantyExpense.40339.11.7" xlink:href="dq-20131231.xsd#dq_IncreaseDecreaseInAccruedWarrantyExpense" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInAccruedWarrantyExpense.40339.11.7" xlink:to="dq_IncreaseDecreaseInAccruedWarrantyExpense_lbl.247624.338432" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_IncreaseDecreaseInAccruedWarrantyExpense_lbl.247624.338432" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="dq_IncreaseDecreaseInAccruedWarrantyExpense_lbl.247624.338432">Accrued warranty cost</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInAdvancePayments.40340.11.12" xlink:href="dq-20131231.xsd#dq_IncreaseDecreaseInAdvancePayments" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInAdvancePayments.40340.11.12" xlink:to="dq_IncreaseDecreaseInAdvancePayments_lbl.247625.338435" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_IncreaseDecreaseInAdvancePayments_lbl.247625.338435" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="dq_IncreaseDecreaseInAdvancePayments_lbl.247625.338435">Increase (Decrease) in Advance Payments</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInAdvancePayments.40340.11.6" xlink:href="dq-20131231.xsd#dq_IncreaseDecreaseInAdvancePayments" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInAdvancePayments.40340.11.6" xlink:to="dq_IncreaseDecreaseInAdvancePayments_lbl.247626.338434" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_IncreaseDecreaseInAdvancePayments_lbl.247626.338434" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="dq_IncreaseDecreaseInAdvancePayments_lbl.247626.338434">Increase Decrease In Advance Payments</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInPrepaidExpensesNoncurrent.40341.11.12" xlink:href="dq-20131231.xsd#dq_IncreaseDecreaseInPrepaidExpensesNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInPrepaidExpensesNoncurrent.40341.11.12" xlink:to="dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_lbl.247640.338437" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_lbl.247640.338437" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_lbl.247640.338437">The net change during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods, after one year or beyond the operating cycle, if longer..</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInPrepaidExpensesNoncurrent.40341.11.6" xlink:href="dq-20131231.xsd#dq_IncreaseDecreaseInPrepaidExpensesNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInPrepaidExpensesNoncurrent.40341.11.6" xlink:to="dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_lbl.247641.338436" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_lbl.247641.338436" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_lbl.247641.338436">Increase Decrease In Prepaid Expenses Noncurrent</link:label>
    <link:loc xlink:label="loc_NoncashFinancingActivitiesAbstract.40350.11.12" xlink:href="dq-20131231.xsd#dq_NoncashFinancingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NoncashFinancingActivitiesAbstract.40350.11.12" xlink:to="dq_NoncashFinancingActivitiesAbstract_lbl.247693.338440" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_NoncashFinancingActivitiesAbstract_lbl.247693.338440" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="dq_NoncashFinancingActivitiesAbstract_lbl.247693.338440">Noncash Financing Activities [Abstract]</link:label>
    <link:loc xlink:label="loc_NoncashFinancingActivitiesAbstract.40350.11.6" xlink:href="dq-20131231.xsd#dq_NoncashFinancingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NoncashFinancingActivitiesAbstract.40350.11.6" xlink:to="dq_NoncashFinancingActivitiesAbstract_lbl.247694.338438" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_NoncashFinancingActivitiesAbstract_lbl.247694.338438" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="dq_NoncashFinancingActivitiesAbstract_lbl.247694.338438">Noncash Financing Activities [Abstract]</link:label>
    <link:loc xlink:label="loc_NoncashFinancingActivitiesAbstract.40350.11.7" xlink:href="dq-20131231.xsd#dq_NoncashFinancingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NoncashFinancingActivitiesAbstract.40350.11.7" xlink:to="dq_NoncashFinancingActivitiesAbstract_lbl.247695.338439" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_NoncashFinancingActivitiesAbstract_lbl.247695.338439" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="dq_NoncashFinancingActivitiesAbstract_lbl.247695.338439">Supplemental schedule of non-cash financing activities:</link:label>
    <link:loc xlink:label="loc_NoncashInvestingActivitiesAbstract.40351.11.12" xlink:href="dq-20131231.xsd#dq_NoncashInvestingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NoncashInvestingActivitiesAbstract.40351.11.12" xlink:to="dq_NoncashInvestingActivitiesAbstract_lbl.247696.338443" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_NoncashInvestingActivitiesAbstract_lbl.247696.338443" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="dq_NoncashInvestingActivitiesAbstract_lbl.247696.338443">Noncash Investing Activities [Abstract]</link:label>
    <link:loc xlink:label="loc_NoncashInvestingActivitiesAbstract.40351.11.6" xlink:href="dq-20131231.xsd#dq_NoncashInvestingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NoncashInvestingActivitiesAbstract.40351.11.6" xlink:to="dq_NoncashInvestingActivitiesAbstract_lbl.247697.338441" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_NoncashInvestingActivitiesAbstract_lbl.247697.338441" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="dq_NoncashInvestingActivitiesAbstract_lbl.247697.338441">Noncash Investing Activities [Abstract]</link:label>
    <link:loc xlink:label="loc_NoncashInvestingActivitiesAbstract.40351.11.7" xlink:href="dq-20131231.xsd#dq_NoncashInvestingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NoncashInvestingActivitiesAbstract.40351.11.7" xlink:to="dq_NoncashInvestingActivitiesAbstract_lbl.247698.338442" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_NoncashInvestingActivitiesAbstract_lbl.247698.338442" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="dq_NoncashInvestingActivitiesAbstract_lbl.247698.338442">Supplemental schedule of non-cash investing activities:</link:label>
    <link:loc xlink:label="loc_SupplementalNonCashInvestingActivities.40394.11.12" xlink:href="dq-20131231.xsd#dq_SupplementalNonCashInvestingActivities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SupplementalNonCashInvestingActivities.40394.11.12" xlink:to="dq_SupplementalNonCashInvestingActivities_lbl.247844.338452" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_SupplementalNonCashInvestingActivities_lbl.247844.338452" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="dq_SupplementalNonCashInvestingActivities_lbl.247844.338452">Supplemental Non Cash Investing Activities</link:label>
    <link:loc xlink:label="loc_SupplementalNonCashInvestingActivities.40394.11.6" xlink:href="dq-20131231.xsd#dq_SupplementalNonCashInvestingActivities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SupplementalNonCashInvestingActivities.40394.11.6" xlink:to="dq_SupplementalNonCashInvestingActivities_lbl.247845.338450" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_SupplementalNonCashInvestingActivities_lbl.247845.338450" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="dq_SupplementalNonCashInvestingActivities_lbl.247845.338450">Supplemental Non Cash Investing Activities</link:label>
    <link:loc xlink:label="loc_SupplementalNonCashInvestingActivities.40394.11.7" xlink:href="dq-20131231.xsd#dq_SupplementalNonCashInvestingActivities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SupplementalNonCashInvestingActivities.40394.11.7" xlink:to="dq_SupplementalNonCashInvestingActivities_lbl.247846.338451" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="dq_SupplementalNonCashInvestingActivities_lbl.247846.338451" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="dq_SupplementalNonCashInvestingActivities_lbl.247846.338451">Balance netting-off agreements with different subsidiaries of Daqo Group</link:label>
    <link:loc xlink:label="loc_AssetImpairmentCharges.6032.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AssetImpairmentCharges.6032.11.8" xlink:to="lab_AssetImpairmentCharges.488948.387222" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AssetImpairmentCharges.488948.387222" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_AssetImpairmentCharges.488948.387222">Long-lived assets impairment</link:label>
    <link:loc xlink:label="loc_CapitalExpendituresIncurredButNotYetPaid.6683.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CapitalExpendituresIncurredButNotYetPaid.6683.11.6" xlink:to="lab_CapitalExpendituresIncurredButNotYetPaid.2057" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CapitalExpendituresIncurredButNotYetPaid.2057" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CapitalExpendituresIncurredButNotYetPaid.2057">Capital Expenditures Incurred but Not yet Paid</link:label>
    <link:loc xlink:label="loc_CashDivestedFromDeconsolidation.6858.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashDivestedFromDeconsolidation" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashDivestedFromDeconsolidation.6858.11.6" xlink:to="lab_CashDivestedFromDeconsolidation.2265.338454" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashDivestedFromDeconsolidation.2265.338454" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CashDivestedFromDeconsolidation.2265.338454">Cash Divested from Deconsolidation</link:label>
    <link:loc xlink:label="loc_CashDivestedFromDeconsolidation.6858.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashDivestedFromDeconsolidation" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashDivestedFromDeconsolidation.6858.11.52" xlink:to="lab_CashDivestedFromDeconsolidation46.1858799.485532.338455" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashDivestedFromDeconsolidation46.1858799.485532.338455" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_CashDivestedFromDeconsolidation46.1858799.485532.338455">Decrease in cash on deconsolidation of Daqo New Material</link:label>
    <link:loc xlink:label="loc_CashDivestedFromDeconsolidation.6858.11.57" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashDivestedFromDeconsolidation" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashDivestedFromDeconsolidation.6858.11.57" xlink:to="lab_CashDivestedFromDeconsolidation57.387144" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashDivestedFromDeconsolidation57.387144" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CashDivestedFromDeconsolidation57.387144">Less: cash and cash equivalents disposed</link:label>
    <link:loc xlink:label="loc_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax.8835.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:type="locator" />
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    <link:loc xlink:label="loc_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax.8835.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax.8835.11.6" xlink:to="lab_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax.5060.338456" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax.5060.338456" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax.5060.338456">Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax</link:label>
    <link:loc xlink:label="loc_DisposalGroupsIncludingDiscontinuedOperationsNameDomain.1661.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:type="locator" />
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    <link:label xlink:label="lab_DisposalGroupsIncludingDiscontinuedOperationsNameDomain.290179" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DisposalGroupsIncludingDiscontinuedOperationsNameDomain.290179">Disposal Groups, Including Discontinued Operations, Name [Domain]</link:label>
    <link:loc xlink:label="loc_DisposalGroupsIncludingDiscontinuedOperationsNameDomain.1661.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DisposalGroupsIncludingDiscontinuedOperationsNameDomain.1661.11.6" xlink:to="lab_DisposalGroupsIncludingDiscontinuedOperationsNameDomain.5191.339476" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis.2657.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis.2657.11.7" xlink:to="lab_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis.290178" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis.290178" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis.290178">Disposal Group Name [Axis]</link:label>
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    <link:loc xlink:label="loc_IncreaseDecreaseInDeferredIncomeTaxes.11309.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredIncomeTaxes" xlink:type="locator" />
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    <link:loc xlink:label="loc_IncreaseDecreaseInDueFromRelatedPartiesCurrent.11287.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInDueFromRelatedPartiesCurrent.11287.11.52" xlink:to="lab_IncreaseDecreaseInDueFromRelatedPartiesCurrent.248913.338461" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInDueFromRelatedPartiesCurrent.248913.338461" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInDueFromRelatedPartiesCurrent.248913.338461">Amount due from related parties</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInInventories.11367.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInInventories.11367.11.52" xlink:to="lab_IncreaseDecreaseInInventories42.248912.338462" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_IncreaseDecreaseInNotesPayableCurrent.11366.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInNotesPayableCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInNotesPayableCurrent.11366.11.7" xlink:to="lab_IncreaseDecreaseInNotesPayableCurrent.482593.338464" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInNotesPayableCurrent.482593.338464" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInNotesPayableCurrent.482593.338464">Notes payable</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInNotesPayableCurrent.11366.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInNotesPayableCurrent" xlink:type="locator" />
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    <link:loc xlink:label="loc_IncreaseDecreaseInNotesReceivableCurrent.11357.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInNotesReceivableCurrent" xlink:type="locator" />
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    <link:loc xlink:label="loc_IncreaseDecreaseInNotesReceivableCurrent.11357.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInNotesReceivableCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInNotesReceivableCurrent.11357.11.52" xlink:to="lab_IncreaseDecreaseInNotesReceivableCurrent42.482591.338466" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInNotesReceivableCurrent42.482591.338466" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInNotesReceivableCurrent42.482591.338466">Notes receivable</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInOtherNoncurrentAssets.11318.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInOtherNoncurrentAssets" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInOtherNoncurrentAssets.11318.11.52" xlink:to="lab_IncreaseDecreaseInOtherNoncurrentAssets.248916.338467" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInOtherNoncurrentAssets.248916.338467" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInOtherNoncurrentAssets.248916.338467">Other non-current assets</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets.11432.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets.11432.11.52" xlink:to="lab_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets42.482589.338468" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_IncreaseDecreaseInPrepaidExpensesNoncurrent.40341.11.52" xlink:href="dq-20131231.xsd#dq_IncreaseDecreaseInPrepaidExpensesNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInPrepaidExpensesNoncurrent.40341.11.52" xlink:to="lab_IncreaseDecreaseInPrepaidExpensesNoncurrent.248915.338469" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInPrepaidExpensesNoncurrent.248915.338469" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInPrepaidExpensesNoncurrent.248915.338469">Prepaid land use rights</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInRestrictedCash.11462.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInRestrictedCash" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInRestrictedCash.11462.11.52" xlink:to="lab_IncreaseDecreaseInRestrictedCash.248920.338470" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInRestrictedCash.248920.338470" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInRestrictedCash.248920.338470">Increase/(decrease) in restricted cash</link:label>
    <link:loc xlink:label="loc_NanjingDaqoMember.40346.11.7" xlink:href="dq-20131231.xsd#dq_NanjingDaqoMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NanjingDaqoMember.40346.11.7" xlink:to="lab_NanjingDaqoMember.387142" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NanjingDaqoMember.387142" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_NanjingDaqoMember.387142">Nanjing Daqo [Member]</link:label>
    <link:loc xlink:label="loc_NanjingDaqoMember.40346.11.6" xlink:href="dq-20131231.xsd#dq_NanjingDaqoMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NanjingDaqoMember.40346.11.6" xlink:to="lab_NanjingDaqoMember.482787.339482" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NanjingDaqoMember.482787.339482" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_NanjingDaqoMember.482787.339482">Nanjing Daqo [Member]</link:label>
    <link:loc xlink:label="loc_NanjingDaqoMember.40346.11.12" xlink:href="dq-20131231.xsd#dq_NanjingDaqoMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NanjingDaqoMember.40346.11.12" xlink:to="lab_NanjingDaqoMember.482788.339483" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NanjingDaqoMember.482788.339483" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_NanjingDaqoMember.482788.339483">Nanjing Daqo [Member]</link:label>
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    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations.13240.11.6" xlink:to="lab_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations.12278" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations.12278" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations.12278">Net Cash Provided by (Used in) Financing Activities, Continuing Operations</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations.13240.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations.13240.11.9" xlink:to="lab_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations.383871" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations.13250.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:type="locator" />
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    <link:loc xlink:label="loc_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations.13250.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:type="locator" />
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    <link:loc xlink:label="loc_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations.13221.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" xlink:type="locator" />
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    <link:loc xlink:label="loc_NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1.13330.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1" xlink:type="locator" />
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    <link:loc xlink:label="loc_PaymentsForRepurchaseOfCommonStock.14236.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:type="locator" />
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    <link:label xlink:label="lab_PaymentsForRepurchaseOfCommonStock.482606.338476" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_PaymentsForRepurchaseOfCommonStock.482606.338476">Purchase and retirement of treasury shares</link:label>
    <link:loc xlink:label="loc_PaymentsOfStockIssuanceCosts.14360.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsOfStockIssuanceCosts" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PaymentsOfStockIssuanceCosts.14360.11.52" xlink:to="lab_PaymentsOfStockIssuanceCosts.248929.338477" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PaymentsOfStockIssuanceCosts.248929.338477" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_PaymentsOfStockIssuanceCosts.248929.338477">Issuance cost for ordinary shares</link:label>
    <link:loc xlink:label="loc_PaymentsToAcquirePropertyPlantAndEquipment.14347.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PaymentsToAcquirePropertyPlantAndEquipment.14347.11.52" xlink:to="lab_PaymentsToAcquirePropertyPlantAndEquipment42.248919.338478" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PaymentsToAcquirePropertyPlantAndEquipment42.248919.338478" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_PaymentsToAcquirePropertyPlantAndEquipment42.248919.338478">Purchases of property, plant and equipment</link:label>
    <link:loc xlink:label="loc_PaymentsToFundLongtermLoansToRelatedParties.14257.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsToFundLongtermLoansToRelatedParties" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PaymentsToFundLongtermLoansToRelatedParties.14257.11.6" xlink:to="lab_PaymentsToFundLongtermLoansToRelatedParties.13974" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PaymentsToFundLongtermLoansToRelatedParties.13974" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PaymentsToFundLongtermLoansToRelatedParties.13974">Payments to Fund Long-term Loans to Related Parties</link:label>
    <link:loc xlink:label="loc_PaymentsToFundLongtermLoansToRelatedParties.14257.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsToFundLongtermLoansToRelatedParties" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PaymentsToFundLongtermLoansToRelatedParties.14257.11.52" xlink:to="lab_PaymentsToFundLongtermLoansToRelatedParties.150640.339502" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PaymentsToFundLongtermLoansToRelatedParties.150640.339502" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_PaymentsToFundLongtermLoansToRelatedParties.150640.339502">Interest free loan to related parties</link:label>
    <link:loc xlink:label="loc_ProceedsFromDivestitureOfBusinesses.14896.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromDivestitureOfBusinesses" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromDivestitureOfBusinesses.14896.11.6" xlink:to="lab_ProceedsFromDivestitureOfBusinesses.14487.338479" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromDivestitureOfBusinesses.14487.338479" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromDivestitureOfBusinesses.14487.338479">Proceeds from Divestiture of Businesses</link:label>
    <link:loc xlink:label="loc_ProceedsFromDivestitureOfBusinesses.14896.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromDivestitureOfBusinesses" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromDivestitureOfBusinesses.14896.11.7" xlink:to="lab_ProceedsFromDivestitureOfBusinesses.485534.338480" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromDivestitureOfBusinesses.485534.338480" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromDivestitureOfBusinesses.485534.338480">Total cash consideration received</link:label>
    <link:loc xlink:label="loc_ProceedsFromDivestitureOfBusinessesNetOfCashDivested.15027.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromDivestitureOfBusinessesNetOfCashDivested.15027.11.6" xlink:to="lab_ProceedsFromDivestitureOfBusinessesNetOfCashDivested.14401.338481" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromDivestitureOfBusinessesNetOfCashDivested.14401.338481" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromDivestitureOfBusinessesNetOfCashDivested.14401.338481">Proceeds from Divestiture of Businesses, Net of Cash Divested</link:label>
    <link:loc xlink:label="loc_ProceedsFromDivestitureOfBusinessesNetOfCashDivested.15027.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromDivestitureOfBusinessesNetOfCashDivested.15027.11.7" xlink:to="lab_ProceedsFromDivestitureOfBusinessesNetOfCashDivested.482601.338482" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromDivestitureOfBusinessesNetOfCashDivested.482601.338482" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromDivestitureOfBusinessesNetOfCashDivested.482601.338482">Proceeds from disposition of Nanjing Daqo</link:label>
    <link:loc xlink:label="loc_ProceedsFromDivestitureOfBusinessesNetOfCashDivested.15027.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromDivestitureOfBusinessesNetOfCashDivested.15027.11.9" xlink:to="lab_ProceedsFromDivestitureOfBusinessesNetOfCashDivested.485533.338483" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromDivestitureOfBusinessesNetOfCashDivested.485533.338483" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromDivestitureOfBusinessesNetOfCashDivested.485533.338483">Net cash inflow (outflow) on the disposition</link:label>
    <link:loc xlink:label="loc_ProceedsFromStockOptionsExercised.15050.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromStockOptionsExercised.15050.11.6" xlink:to="lab_ProceedsFromStockOptionsExercised.15165" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromStockOptionsExercised.15165" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromStockOptionsExercised.15165">Proceeds from Stock Options Exercised</link:label>
    <link:loc xlink:label="loc_ProceedsFromStockOptionsExercised.15050.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromStockOptionsExercised.15050.11.8" xlink:to="lab_ProceedsFromStockOptionsExercised.139052.387139" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromStockOptionsExercised.139052.387139" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromStockOptionsExercised.139052.387139">Options exercised</link:label>
    <link:loc xlink:label="loc_RepaymentsOfBankDebt.15825.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RepaymentsOfBankDebt" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RepaymentsOfBankDebt.15825.11.52" xlink:to="lab_RepaymentsOfBankDebt42.248926.338484" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RepaymentsOfBankDebt42.248926.338484" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_RepaymentsOfBankDebt42.248926.338484">Repayment of bank borrowings</link:label>
    <link:loc xlink:label="loc_RepaymentsOfLongTermDebt.15824.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RepaymentsOfLongTermDebt.15824.11.7" xlink:to="lab_RepaymentsOfLongTermDebt.134398.338486" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RepaymentsOfLongTermDebt.134398.338486" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_RepaymentsOfLongTermDebt.134398.338486">Repayments of Long-term Debt</link:label>
    <link:loc xlink:label="loc_RepaymentsOfLongTermDebt.15824.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RepaymentsOfLongTermDebt.15824.11.6" xlink:to="lab_RepaymentsOfLongTermDebt.15804.338485" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RepaymentsOfLongTermDebt.15804.338485" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RepaymentsOfLongTermDebt.15804.338485">Repayments of Long-term Debt</link:label>
    <link:loc xlink:label="loc_RepaymentsOfOtherDebt.15814.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RepaymentsOfOtherDebt" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RepaymentsOfOtherDebt.15814.11.52" xlink:to="lab_RepaymentsOfOtherDebt.248927.338487" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RepaymentsOfOtherDebt.248927.338487" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_RepaymentsOfOtherDebt.248927.338487">Repayment of other borrowings</link:label>
    <link:loc xlink:label="loc_RepaymentsOfRelatedPartyDebt.15848.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RepaymentsOfRelatedPartyDebt" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RepaymentsOfRelatedPartyDebt.15848.11.52" xlink:to="lab_RepaymentsOfRelatedPartyDebt42.248924.338488" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RepaymentsOfRelatedPartyDebt42.248924.338488" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_RepaymentsOfRelatedPartyDebt42.248924.338488">Repayment of related parities loans</link:label>
    <link:loc xlink:label="loc_SupplementalCashFlowInformationDivestituresAbstract.40392.11.6" xlink:href="dq-20131231.xsd#dq_SupplementalCashFlowInformationDivestituresAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SupplementalCashFlowInformationDivestituresAbstract.40392.11.6" xlink:to="lab_SupplementalCashFlowInformationDivestituresAbstract.485525.338489" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SupplementalCashFlowInformationDivestituresAbstract.485525.338489" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_SupplementalCashFlowInformationDivestituresAbstract.485525.338489">Supplemental Cash Flow Information, Divestitures [Abstract]</link:label>
    <link:loc xlink:label="loc_SupplementalCashFlowInformationDivestituresAbstract.40392.11.7" xlink:href="dq-20131231.xsd#dq_SupplementalCashFlowInformationDivestituresAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SupplementalCashFlowInformationDivestituresAbstract.40392.11.7" xlink:to="lab_SupplementalCashFlowInformationDivestituresAbstract7.485528.338490" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SupplementalCashFlowInformationDivestituresAbstract7.485528.338490" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_SupplementalCashFlowInformationDivestituresAbstract7.485528.338490">Disposition and Deconsolidation:</link:label>
    <link:loc xlink:label="loc_SupplementalCashFlowInformationDivestituresConsiderationReceived.40332.11.6" xlink:href="dq-20131231.xsd#dq_SupplementalCashFlowInformationDivestituresConsiderationReceived" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SupplementalCashFlowInformationDivestituresConsiderationReceived.40332.11.6" xlink:to="lab_SupplementalCashFlowInformationDivestituresConsiderationReceived.339019" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SupplementalCashFlowInformationDivestituresConsiderationReceived.339019" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_SupplementalCashFlowInformationDivestituresConsiderationReceived.339019">Supplemental Cash Flow Information Divestitures Consideration Received</link:label>
    <link:loc xlink:label="loc_SupplementalCashFlowInformationDivestituresConsiderationReceived.40332.11.12" xlink:href="dq-20131231.xsd#dq_SupplementalCashFlowInformationDivestituresConsiderationReceived" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SupplementalCashFlowInformationDivestituresConsiderationReceived.40332.11.12" xlink:to="lab_SupplementalCashFlowInformationDivestituresConsiderationReceived12.339021" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SupplementalCashFlowInformationDivestituresConsiderationReceived12.339021" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_SupplementalCashFlowInformationDivestituresConsiderationReceived12.339021">Supplemental Cash Flow Information, Divestitures, Consideration Received.</link:label>
    <link:loc xlink:label="loc_SupplementalCashFlowInformationDivestituresConsiderationReceived.40332.11.9" xlink:href="dq-20131231.xsd#dq_SupplementalCashFlowInformationDivestituresConsiderationReceived" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SupplementalCashFlowInformationDivestituresConsiderationReceived.40332.11.9" xlink:to="lab_SupplementalCashFlowInformationDivestituresConsiderationReceived9.339549" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SupplementalCashFlowInformationDivestituresConsiderationReceived9.339549" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_SupplementalCashFlowInformationDivestituresConsiderationReceived9.339549">Total consideration</link:label>
    <link:loc xlink:label="loc_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract.502.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract.502.11.6" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl.247456.338493" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl.247456.338493" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl.247456.338493">Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities [Abstract]</link:label>
    <link:loc xlink:label="loc_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract.502.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract.502.11.7" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl.247457.338494" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_AssetImpairmentCharges.6032.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AssetImpairmentCharges.6032.11.6" xlink:to="us-gaap_AssetImpairmentCharges_lbl.247467.338495" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_AssetImpairmentCharges_lbl.247467.338495" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_AssetImpairmentCharges_lbl.247467.338495">Asset Impairment Charges</link:label>
    <link:loc xlink:label="loc_CapitalExpendituresIncurredButNotYetPaid.6683.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:type="locator" />
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    <link:labelArc xlink:from="loc_CashAndCashEquivalentsPeriodIncreaseDecrease.6834.11.6" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl.247484.338499" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ConversionOfStockAmountConverted1.7336.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConversionOfStockAmountConverted1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConversionOfStockAmountConverted1.7336.11.6" xlink:to="us-gaap_ConversionOfStockAmountConverted1_lbl.247515.338501" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ConversionOfStockAmountConverted1.7336.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConversionOfStockAmountConverted1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConversionOfStockAmountConverted1.7336.11.7" xlink:to="us-gaap_ConversionOfStockAmountConverted1_lbl.247516.338502" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_ConversionOfStockAmountConverted1_lbl.247516.338502" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_ConversionOfStockAmountConverted1_lbl.247516.338502">Conversion of Series A convertible redeemable preferred shares into ordinary shares</link:label>
    <link:loc xlink:label="loc_DebtConversionConvertedInstrumentAmount1.7673.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtConversionConvertedInstrumentAmount1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtConversionConvertedInstrumentAmount1.7673.11.6" xlink:to="us-gaap_DebtConversionConvertedInstrumentAmount1_lbl.247528.338503" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_DebtConversionConvertedInstrumentAmount1_lbl.247528.338503" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_DebtConversionConvertedInstrumentAmount1_lbl.247528.338503">Debt Conversion Converted Instrument Amount 1</link:label>
    <link:loc xlink:label="loc_DebtConversionConvertedInstrumentAmount1.7673.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtConversionConvertedInstrumentAmount1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtConversionConvertedInstrumentAmount1.7673.11.7" xlink:to="us-gaap_DebtConversionConvertedInstrumentAmount1_lbl.247529.338504" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_DebtConversionConvertedInstrumentAmount1_lbl.247529.338504" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_DebtConversionConvertedInstrumentAmount1_lbl.247529.338504">Daqo New Material's conversion of amount due to investor to owner's equity</link:label>
    <link:loc xlink:label="loc_Depreciation.8347.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Depreciation" xlink:type="locator" />
    <link:labelArc xlink:from="loc_Depreciation.8347.11.6" xlink:to="us-gaap_Depreciation_lbl.247543.338505" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_Depreciation_lbl.247543.338505" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_Depreciation_lbl.247543.338505">Depreciation</link:label>
    <link:loc xlink:label="loc_Depreciation.8347.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Depreciation" xlink:type="locator" />
    <link:labelArc xlink:from="loc_Depreciation.8347.11.7" xlink:to="us-gaap_Depreciation_lbl.247544.338506" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_Depreciation_lbl.247544.338506" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_Depreciation_lbl.247544.338506">Depreciation of property, plant and equipment</link:label>
    <link:loc xlink:label="loc_EffectOfExchangeRateOnCashAndCashEquivalents.9113.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EffectOfExchangeRateOnCashAndCashEquivalents.9113.11.6" xlink:to="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_lbl.247579.338507" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_EffectOfExchangeRateOnCashAndCashEquivalents.9113.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:type="locator" />
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    <link:loc xlink:label="loc_IncomeTaxesPaid.11165.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeTaxesPaid" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_IncomeTaxesPaid_lbl.247613.338510" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncomeTaxesPaid_lbl.247613.338510">Income taxes paid</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInAccountsPayable.11272.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInAccountsPayable.11272.11.6" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayable_lbl.247615.338511" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_IncreaseDecreaseInAccountsPayable.11272.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayable" xlink:type="locator" />
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    <link:labelArc xlink:from="loc_IncreaseDecreaseInDueFromRelatedPartiesCurrent.11287.11.6" xlink:to="us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent_lbl.247630.338521" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent_lbl.247630.338521" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent_lbl.247630.338521">Increase Decrease In Due From Related Parties Current</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInDueToRelatedPartiesCurrent.11352.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInDueToRelatedPartiesCurrent.11352.11.6" xlink:to="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent_lbl.247631.338522" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent_lbl.247631.338522" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent_lbl.247631.338522">Increase Decrease In Due To Related Parties Current</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInDueToRelatedPartiesCurrent.11352.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInDueToRelatedPartiesCurrent.11352.11.7" xlink:to="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent_lbl.247632.338523" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent_lbl.247632.338523" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent_lbl.247632.338523">Amount due to related party</link:label>
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    <link:labelArc xlink:from="loc_IncreaseDecreaseInInventories.11367.11.6" xlink:to="us-gaap_IncreaseDecreaseInInventories_lbl.247633.338524" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_IncreaseDecreaseInInventories_lbl.247633.338524" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInInventories_lbl.247633.338524">Increase Decrease In Inventories</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInOperatingCapitalAbstract.2736.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInOperatingCapitalAbstract.2736.11.6" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl.247634.338525" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl.247634.338525" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl.247634.338525">Increase Decrease In Operating Capital [Abstract]</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInOperatingCapitalAbstract.2736.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInOperatingCapitalAbstract.2736.11.7" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl.247635.338526" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl.247635.338526" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl.247635.338526">Changes in operating assets and liabilities:</link:label>
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    <link:labelArc xlink:from="loc_IncreaseDecreaseInOtherDeferredLiability.11396.11.6" xlink:to="us-gaap_IncreaseDecreaseInOtherDeferredLiability_lbl.247636.338527" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_IncreaseDecreaseInOtherDeferredLiability_lbl.247636.338527" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInOtherDeferredLiability_lbl.247636.338527">Increase Decrease In Other Deferred Liability</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInOtherDeferredLiability.11396.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInOtherDeferredLiability" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInOtherDeferredLiability.11396.11.7" xlink:to="us-gaap_IncreaseDecreaseInOtherDeferredLiability_lbl.247637.338528" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_IncreaseDecreaseInOtherDeferredLiability_lbl.247637.338528" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInOtherDeferredLiability_lbl.247637.338528">Deferred government subsidies</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInOtherNoncurrentAssets.11318.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInOtherNoncurrentAssets" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInOtherNoncurrentAssets.11318.11.6" xlink:to="us-gaap_IncreaseDecreaseInOtherNoncurrentAssets_lbl.247638.338529" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_IncreaseDecreaseInOtherNoncurrentAssets_lbl.247638.338529" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInOtherNoncurrentAssets_lbl.247638.338529">Increase Decrease In Other Noncurrent Assets</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets.11432.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets.11432.11.6" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl.247639.338530" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl.247639.338530" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl.247639.338530">Increase Decrease In Prepaid Deferred Expense And Other Assets</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInRestrictedCash.11462.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInRestrictedCash" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInRestrictedCash.11462.11.6" xlink:to="us-gaap_IncreaseDecreaseInRestrictedCash_lbl.247642.338531" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_IncreaseDecreaseInRestrictedCash_lbl.247642.338531" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInRestrictedCash_lbl.247642.338531">Increase Decrease In Restricted Cash</link:label>
    <link:loc xlink:label="loc_InterestPaid.11757.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestPaid" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InterestPaid.11757.11.6" xlink:to="us-gaap_InterestPaid_lbl.247644.338532" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_InterestPaid_lbl.247644.338532" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_InterestPaid_lbl.247644.338532">Interest Paid</link:label>
    <link:loc xlink:label="loc_InterestPaid.11757.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestPaid" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InterestPaid.11757.11.7" xlink:to="us-gaap_InterestPaid_lbl.247645.338533" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_InterestPaid_lbl.247645.338533" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_InterestPaid_lbl.247645.338533">Interest paid</link:label>
    <link:loc xlink:label="loc_InventoryWriteDown.11859.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InventoryWriteDown" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InventoryWriteDown.11859.11.6" xlink:to="us-gaap_InventoryWriteDown_lbl.247650.338534" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_InventoryWriteDown_lbl.247650.338534" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_InventoryWriteDown_lbl.247650.338534">Inventory Write Down</link:label>
    <link:loc xlink:label="loc_InventoryWriteDown.11859.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InventoryWriteDown" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InventoryWriteDown.11859.11.7" xlink:to="us-gaap_InventoryWriteDown_lbl.247651.338535" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_InventoryWriteDown_lbl.247651.338535" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_InventoryWriteDown_lbl.247651.338535">Inventory write-down</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract.3523.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract.3523.11.6" xlink:to="us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract_lbl.247675.338536" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract_lbl.247675.338536" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract_lbl.247675.338536">Net Cash Provided By Used In Discontinued Operations And Continuing Operations [Abstract]</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract.3523.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract.3523.11.7" xlink:to="us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract_lbl.247676.338537" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract_lbl.247676.338537" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract_lbl.247676.338537">Operating activities:</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInFinancingActivitiesAbstract.3499.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInFinancingActivitiesAbstract.3499.11.6" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl.247679.338539" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl.247679.338539" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl.247679.338539">Net Cash Provided By Used In Financing Activities [Abstract]</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInFinancingActivitiesAbstract.3499.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInFinancingActivitiesAbstract.3499.11.7" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl.247680.338540" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_NetCashProvidedByUsedInInvestingActivitiesAbstract.3520.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_NetCashProvidedByUsedInInvestingActivitiesAbstract.3520.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInInvestingActivitiesAbstract.3520.11.7" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl.247684.338544" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl.247684.338544" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl.247684.338544">Investing activities:</link:label>
    <link:loc xlink:label="loc_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1.13351.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1.13351.11.6" xlink:to="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1_lbl.247699.338547" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1_lbl.247699.338547" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1_lbl.247699.338547">Noncash Or Part Noncash Acquisition Fixed Assets Acquired 1</link:label>
    <link:loc xlink:label="loc_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1.13351.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1.13351.11.7" xlink:to="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1_lbl.247700.338548" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1_lbl.247700.338548" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1_lbl.247700.338548">Purchase of property, plant and equipment included in amount due to related parties</link:label>
    <link:loc xlink:label="loc_PaymentsOfStockIssuanceCosts.14360.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsOfStockIssuanceCosts" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_ProceedsFromBankDebt_lbl.247745.338552" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_ProceedsFromBankDebt_lbl.247745.338552">Proceeds From Bank Debt</link:label>
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    <link:label xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl.247749.338556" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl.247749.338556">Proceeds From Issuance Of Common Stock</link:label>
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    <link:loc xlink:label="loc_ProceedsFromPaymentsForOtherFinancingActivities.14909.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromPaymentsForOtherFinancingActivities.14909.11.6" xlink:to="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_lbl.247755.338560" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_lbl.247755.338560" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_lbl.247755.338560">Proceeds From Payments For Other Financing Activities</link:label>
    <link:loc xlink:label="loc_ProceedsFromPaymentsForOtherFinancingActivities.14909.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:type="locator" />
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    <link:loc xlink:label="loc_ProceedsFromRelatedPartyDebt.14973.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromRelatedPartyDebt" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_ProceedsFromRelatedPartyDebt_lbl.247757.338562" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_ProceedsFromRelatedPartyDebt_lbl.247757.338562">Proceeds From Related Party Debt</link:label>
    <link:loc xlink:label="loc_ProceedsFromRelatedPartyDebt.14973.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromRelatedPartyDebt" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_ProceedsFromRelatedPartyDebt_lbl.247758.338563" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_ProceedsFromRelatedPartyDebt_lbl.247758.338563">Proceeds from related parties loans</link:label>
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    <link:label xlink:label="us-gaap_RepaymentsOfBankDebt_lbl.247775.338567" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_RepaymentsOfBankDebt_lbl.247775.338567">Repayments Of Bank Debt</link:label>
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    <link:loc xlink:label="loc_ScenarioUnspecifiedDomain.4760.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:type="locator" />
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    <link:labelArc xlink:from="loc_CommonStockOutstandingMember.40374.11.8" xlink:to="lab_CommonStockOutstandingMember8.383878" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CommonStockOutstandingMember8.383878" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CommonStockOutstandingMember8.383878">Ordinary shares [Member]</link:label>
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    <link:loc xlink:label="loc_NoncontrollingInterestDecreaseFromDeconsolidation.13484.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NoncontrollingInterestDecreaseFromDeconsolidation.13484.11.6" xlink:to="lab_NoncontrollingInterestDecreaseFromDeconsolidation.12678" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NoncontrollingInterestDecreaseFromDeconsolidation.12678" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_NoncontrollingInterestDecreaseFromDeconsolidation.12678">Noncontrolling Interest, Decrease from Deconsolidation</link:label>
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    <link:loc xlink:label="loc_StockIssuedDuringPeriodSharesStockOptionsExercised.17264.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:type="locator" />
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    <link:loc xlink:label="loc_StockIssuedDuringPeriodValueStockOptionsExercised.17234.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:type="locator" />
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    <link:label xlink:label="lab_TreasuryStockMember.134746.338390" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_TreasuryStockMember.134746.338390">Treasury stock [Member]</link:label>
    <link:loc xlink:label="loc_TreasuryStockMember.5367.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_TreasuryStockMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_TreasuryStockMember.5367.11.6" xlink:to="lab_TreasuryStockMember.18656.338389" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_TreasuryStockMember.18656.338389" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_TreasuryStockMember.18656.338389">Treasury Stock [Member]</link:label>
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    <link:label xlink:label="us-gaap_SharesIssued_lbl.247798.338412" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_SharesIssued_lbl.247798.338412">Balance, shares</link:label>
    <link:loc xlink:label="loc_StatementEquityComponentsAxis.5169.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:type="locator" />
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    <link:loc xlink:label="loc_StatementEquityComponentsAxis.5169.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_StatementEquityComponentsAxis_lbl.247802.338415" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_StatementEquityComponentsAxis_lbl.247802.338415">Statement, Equity Components [Axis]</link:label>
    <link:loc xlink:label="loc_StatementOfStockholdersEquityAbstract.5166.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest.17306.11.10" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl.247823.338417" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl.247823.338417">Balance</link:label>
    <link:loc xlink:label="loc_StockIssuedDuringPeriodSharesNewIssues.17271.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:type="locator" />
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    <link:loc xlink:label="loc_StockIssuedDuringPeriodSharesNewIssues.17271.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:type="locator" />
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    <link:labelArc xlink:from="loc_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest.7187.11.6" xlink:to="us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_lbl.247509.338372" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:labelArc xlink:from="loc_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest.7192.11.6" xlink:to="us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_lbl.247511.338374" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest.7192.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:type="locator" />
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    <link:labelArc xlink:from="loc_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract.3803.11.6" xlink:to="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_lbl.247717.338376" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_StatementOfIncomeAndComprehensiveIncomeAbstract.5170.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_EarningsPerShareBasic.9083.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:type="locator" />
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    <link:loc xlink:label="loc_GeneralAndAdministrativeExpense.10699.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:type="locator" />
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    <link:loc xlink:label="loc_ImpairmentOfLongLivedAssetsHeldForUse.11030.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:type="locator" />
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    <link:loc xlink:label="loc_RevenueFromRelatedParties.16102.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RevenueFromRelatedParties" xlink:type="locator" />
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    <link:loc xlink:label="loc_SalesRevenueServicesNet.16282.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SalesRevenueServicesNet" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_GrossProfit_lbl.247604.338336" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_GrossProfit_lbl.247604.338336">Gross Profit</link:label>
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    <link:label xlink:label="us-gaap_GrossProfit_lbl.247605.338337" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_GrossProfit_lbl.247605.338337">Gross profit (loss)</link:label>
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    <link:labelArc xlink:from="loc_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest.11058.11.6" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl.247606.338338" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl.247606.338338" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl.247606.338338">Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest</link:label>
    <link:loc xlink:label="loc_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest.11058.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest.11058.11.9" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl.247607.338339" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl.247607.338339" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl.247607.338339">Income (loss) before income taxes</link:label>
    <link:loc xlink:label="loc_IncomeStatementAbstract.2649.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncomeStatementAbstract.2649.11.6" xlink:to="us-gaap_IncomeStatementAbstract_lbl.247608.338340" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_IncomeStatementAbstract_lbl.247608.338340" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncomeStatementAbstract_lbl.247608.338340">CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]</link:label>
    <link:loc xlink:label="loc_IncomeTaxExpenseBenefit.11134.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncomeTaxExpenseBenefit.11134.11.6" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl.247614.338341" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl.247614.338341" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_IncomeTaxExpenseBenefit_lbl.247614.338341">Income Tax Expense Benefit</link:label>
    <link:loc xlink:label="loc_InterestExpense.11654.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestExpense" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InterestExpense.11654.11.6" xlink:to="us-gaap_InterestExpense_lbl.247643.338342" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_InterestExpense_lbl.247643.338342" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_InterestExpense_lbl.247643.338342">Interest Expense</link:label>
    <link:loc xlink:label="loc_InvestmentIncomeInterest.11892.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_InvestmentIncomeInterest_lbl.247652.338343" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_InvestmentIncomeInterest_lbl.247652.338343">Investment Income Interest</link:label>
    <link:loc xlink:label="loc_InvestmentIncomeInterest.11892.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InvestmentIncomeInterest.11892.11.7" xlink:to="us-gaap_InvestmentIncomeInterest_lbl.247653.338344" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_InvestmentIncomeInterest_lbl.247653.338344" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_InvestmentIncomeInterest_lbl.247653.338344">Interest income</link:label>
    <link:loc xlink:label="loc_NetIncomeLoss.13265.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetIncomeLoss" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetIncomeLoss.13265.11.6" xlink:to="us-gaap_NetIncomeLoss_lbl.247687.338345" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_NetIncomeLoss_lbl.247687.338345" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_NetIncomeLoss_lbl.247687.338345">Net Income Loss</link:label>
    <link:loc xlink:label="loc_NetIncomeLoss.13265.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetIncomeLoss" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetIncomeLoss.13265.11.9" xlink:to="us-gaap_NetIncomeLoss_lbl.247688.338346" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_NetIncomeLoss_lbl.247688.338346" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_NetIncomeLoss_lbl.247688.338346">Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders</link:label>
    <link:loc xlink:label="loc_NetIncomeLossAttributableToNoncontrollingInterest.13273.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetIncomeLossAttributableToNoncontrollingInterest.13273.11.6" xlink:to="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl.247689.338347" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl.247689.338347" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl.247689.338347">Net Income Loss Attributable To Noncontrolling Interest</link:label>
    <link:loc xlink:label="loc_NetIncomeLossAttributableToNoncontrollingInterest.13273.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetIncomeLossAttributableToNoncontrollingInterest.13273.11.7" xlink:to="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl.247690.338348" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl.247690.338348" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl.247690.338348">Net income (loss) attributable to non-controlling interest</link:label>
    <link:loc xlink:label="loc_OperatingExpenses.13570.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingExpenses" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_OperatingExpenses_lbl.247706.338349" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_OperatingExpenses_lbl.247706.338349">Operating Expenses</link:label>
    <link:loc xlink:label="loc_OperatingExpensesAbstract.3682.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_OperatingExpensesAbstract.3682.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_OperatingIncomeLoss.13592.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_OperatingIncomeLoss_lbl.247709.338352" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_OperatingIncomeLoss_lbl.247709.338352">Operating Income Loss</link:label>
    <link:loc xlink:label="loc_OperatingIncomeLoss.13592.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:type="locator" />
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    <link:loc xlink:label="loc_ResearchAndDevelopmentExpense.15880.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ResearchAndDevelopmentExpense" xlink:type="locator" />
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    <link:loc xlink:label="loc_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract.1659.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_FairValueByMeasurementBasisAxis.2043.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueByMeasurementBasisAxis" xlink:type="locator" />
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    <link:loc xlink:label="loc_ImpairedLongLivedAssetsHeldAndUsedAssetNameDomain.2606.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ImpairedLongLivedAssetsHeldAndUsedAssetNameDomain" xlink:type="locator" />
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    <link:loc xlink:label="loc_ImpairmentOfLongLivedAssetsHeldForUse.11030.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:type="locator" />
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    <link:loc xlink:label="loc_MinorityInterestOwnershipPercentageByParent.13080.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:type="locator" />
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    <link:labelArc xlink:from="loc_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock.16413.11.6" xlink:to="lab_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock.17322" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:labelArc xlink:from="loc_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract.1150.11.6" xlink:to="lab_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract.248980.338637" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:labelArc xlink:from="loc_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock.7228.11.6" xlink:to="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_lbl.247513.338638" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock.7228.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock.7228.11.7" xlink:to="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_lbl.247514.338639" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_lbl.247514.338639" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_lbl.247514.338639">FINANCIAL STATEMENT SCHEDULE I</link:label>
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    <link:labelArc xlink:from="loc_AccruedExpensesAndOtherCurrentLiabilities.40292.11.21" xlink:to="lab_AccruedExpensesAndOtherCurrentLiabilities51.487489.338988" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:labelArc xlink:from="loc_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract.1095.11.6" xlink:to="lab_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract.2882" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract.1095.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract.1095.11.7" xlink:to="lab_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract.339536" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_CondensedFinancialStatementsCaptionsLineItems.1149.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CondensedFinancialStatementsCaptionsLineItems" xlink:type="locator" />
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    <link:labelArc xlink:from="loc_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock.9713.11.7" xlink:to="lab_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock.249077.338715" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:label xlink:label="lab_InventoryDisclosureAbstract.248944.338589" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_InventoryDisclosureAbstract.248944.338589">INVENTORIES [Abstract]</link:label>
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    <link:label xlink:label="lab_InventoryFinishedGoods.482662.338843" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_InventoryFinishedGoods.482662.338843">Finished goods</link:label>
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    <link:loc xlink:label="loc_OperatingLossCarryforwardsExpirationDate.13603.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLossCarryforwardsExpirationDate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLossCarryforwardsExpirationDate.13603.11.7" xlink:to="lab_OperatingLossCarryforwardsExpirationDate.339530" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLossCarryforwardsExpirationDate.339530" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLossCarryforwardsExpirationDate.339530">Expiration of net operating losses carried forward</link:label>
    <link:loc xlink:label="loc_OperatingLossCarryforwardsLineItems.3696.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLossCarryforwardsLineItems" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLossCarryforwardsLineItems.3696.11.6" xlink:to="lab_OperatingLossCarryforwardsLineItems.12889" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLossCarryforwardsLineItems.12889" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLossCarryforwardsLineItems.12889">Operating Loss Carryforwards [Line Items]</link:label>
    <link:loc xlink:label="loc_OperatingLossCarryforwardsTable.3695.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingLossCarryforwardsTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingLossCarryforwardsTable.3695.11.6" xlink:to="lab_OperatingLossCarryforwardsTable.12876" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingLossCarryforwardsTable.12876" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OperatingLossCarryforwardsTable.12876">Operating Loss Carryforwards [Table]</link:label>
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    <link:labelArc xlink:from="loc_UndistributedEarningsOfForeignSubsidiaries.17785.11.6" xlink:to="lab_UndistributedEarningsOfForeignSubsidiaries.18800.339252" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_UndistributedEarningsOfForeignSubsidiaries.18800.339252" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_UndistributedEarningsOfForeignSubsidiaries.18800.339252">Undistributed Earnings of Foreign Subsidiaries</link:label>
    <link:loc xlink:label="loc_UndistributedEarningsOfForeignSubsidiaries.17785.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_UndistributedEarningsOfForeignSubsidiaries" xlink:type="locator" />
    <link:labelArc xlink:from="loc_UndistributedEarningsOfForeignSubsidiaries.17785.11.7" xlink:to="lab_UndistributedEarningsOfForeignSubsidiaries.355478.339253" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_UndistributedEarningsOfForeignSubsidiaries.355478.339253" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_UndistributedEarningsOfForeignSubsidiaries.355478.339253">Undistributed earnings of foreign subsidiaries to be permanently reinvested</link:label>
    <link:loc xlink:label="loc_XinjiangDaqoNewEnergyCoLtdMember.46087.11.6" xlink:href="dq-20131231.xsd#dq_XinjiangDaqoNewEnergyCoLtdMember" xlink:type="locator" />
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    <link:label xlink:label="lab_XinjiangDaqoNewEnergyCoLtdMember.387156" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_XinjiangDaqoNewEnergyCoLtdMember.387156">Xinjiang Daqo New Energy Co., Ltd. [Member]</link:label>
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    <link:labelArc xlink:from="loc_DeferredTaxAssetsGrossAbstract.1436.11.7" xlink:to="DeferredTaxAssetsGrossAbstract.190178.339258" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="DeferredTaxAssetsGrossAbstract.190178.339258" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="DeferredTaxAssetsGrossAbstract.190178.339258">Deferred tax assets:</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsGrossAbstract.1436.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsGrossAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsGrossAbstract.1436.11.6" xlink:to="lab_DeferredTaxAssetsChangeInAccountingMethods.3946.339259" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsChangeInAccountingMethods.3946.339259" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsChangeInAccountingMethods.3946.339259">Deferred Tax Assets Change In Accounting Methods</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsGross.7956.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsGross" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsGross.7956.11.9" xlink:to="lab_DeferredTaxAssetsGross.355446.339261" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsGross.355446.339261" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsGross.355446.339261">Sub-total</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsGross.7956.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsGross" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsGross.7956.11.6" xlink:to="lab_DeferredTaxAssetsGross.3958.339260" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsGross.3958.339260" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsGross.3958.339260">Deferred Tax Assets, Gross</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsInventory.7975.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsInventory" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsInventory.7975.11.7" xlink:to="lab_DeferredTaxAssetsInventory.356082.339263" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsInventory.356082.339263" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsInventory.356082.339263">Inventory write-down</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsInventory.7975.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsInventory" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsInventory.7975.11.6" xlink:to="lab_DeferredTaxAssetsInventory.3940.339262" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsInventory.3940.339262" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsInventory.3940.339262">Deferred Tax Assets, Inventory</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsNet.7976.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsNet" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsNet.7976.11.6" xlink:to="lab_DeferredTaxAssetsNet.4163" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsNet.4163" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsNet.4163">Deferred Tax Assets, Net of Valuation Allowance</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsNet.7976.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsNet" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsNet.7976.11.9" xlink:to="lab_DeferredTaxAssetsNet.390535" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsNet.390535" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsNet.390535">Total</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsNetAbstract.1447.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsNetAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsNetAbstract.1447.11.7" xlink:to="lab_DeferredTaxAssetsNetAbstract.137247.339265" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsNetAbstract.137247.339265" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsNetAbstract.137247.339265">Deferred tax asset:</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsNetAbstract.1447.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsNetAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsNetAbstract.1447.11.6" xlink:to="lab_DeferredTaxAssetsNetAbstract.3939.339264" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsNetAbstract.3939.339264" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsNetAbstract.3939.339264">Deferred Tax Assets, Net [Abstract]</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsNetClassificationAbstract.1446.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsNetClassificationAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsNetClassificationAbstract.1446.11.6" xlink:to="lab_DeferredTaxAssetsNetClassificationAbstract.3908.339266" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsNetClassificationAbstract.3908.339266" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsNetClassificationAbstract.3908.339266">Deferred Tax Assets, Net of Valuation Allowance, Classification [Abstract]</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsNetClassificationAbstract.1446.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsNetClassificationAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsNetClassificationAbstract.1446.11.7" xlink:to="lab_DeferredTaxAssetsNetClassificationAbstract7.356086.339267" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsNetClassificationAbstract7.356086.339267" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsNetClassificationAbstract7.356086.339267">Deferred tax assets are analyzed as:</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsNetCurrent.7974.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsNetCurrent.7974.11.8" xlink:to="lab_DeferredTaxAssetsNetCurrent.356087.339268" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsNetCurrent.356087.339268" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsNetCurrent.356087.339268">Current</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsNetNoncurrent.7988.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsNetNoncurrent.7988.11.8" xlink:to="lab_DeferredTaxAssetsNetNoncurrent.356088.339269" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsNetNoncurrent.356088.339269" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsNetNoncurrent.356088.339269">Non-current</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsOperatingLossCarryforwards.7993.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsOperatingLossCarryforwards.7993.11.7" xlink:to="lab_DeferredTaxAssetsOperatingLossCarryforwards.356077.339271" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsOperatingLossCarryforwards.356077.339271" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsOperatingLossCarryforwards.356077.339271">Net operating loss carried forward</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsOperatingLossCarryforwards.7993.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsOperatingLossCarryforwards.7993.11.6" xlink:to="lab_DeferredTaxAssetsOperatingLossCarryforwards.3989.339270" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsOperatingLossCarryforwards.3989.339270" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsOperatingLossCarryforwards.3989.339270">Deferred Tax Assets, Operating Loss Carryforwards</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsOther.7967.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsOther" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsOther.7967.11.7" xlink:to="lab_DeferredTaxAssetsOther.355450.339273" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsOther.355450.339273" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsOther.355450.339273">Others</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsOther.7967.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsOther" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredTaxAssetsOther.7967.11.6" xlink:to="lab_DeferredTaxAssetsOther.4006.339272" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredTaxAssetsOther.4006.339272" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsOther.4006.339272">Deferred Tax Assets, Other</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsPropertyPlantAndEquipment.7775.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsPropertyPlantAndEquipment" xlink:type="locator" />
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    <link:label xlink:label="lab_DeferredTaxAssetsPropertyPlantAndEquipment.356079.339275" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsPropertyPlantAndEquipment.356079.339275">Depreciation of property, plant and equipment</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsPropertyPlantAndEquipment.7775.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsPropertyPlantAndEquipment" xlink:type="locator" />
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    <link:label xlink:label="lab_DeferredTaxAssetsPropertyPlantAndEquipment.3689.339274" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsPropertyPlantAndEquipment.3689.339274">Deferred Tax Assets, Property, Plant and Equipment</link:label>
    <link:loc xlink:label="loc_DeferredTaxAssetsTaxCreditCarryforwards.7998.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredTaxAssetsTaxCreditCarryforwards" xlink:type="locator" />
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    <link:label xlink:label="lab_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsImpairmentLosses.356085.339281" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsImpairmentLosses.356085.339281">Long-lived asset impairment</link:label>
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    <link:labelArc xlink:from="loc_DeferredTaxAssetsValuationAllowance.8011.11.52" xlink:to="lab_DeferredTaxAssetsValuationAllowance.482729.339285" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:label xlink:label="lab_DeferredTaxLiabilitiesGrossClassificationAbstract.3778.339286" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredTaxLiabilitiesGrossClassificationAbstract.3778.339286">Deferred Tax Liabilities, Gross, Classification [Abstract]</link:label>
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    <link:loc xlink:label="loc_EffectiveIncomeTaxRateContinuingOperations.9118.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:type="locator" />
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    <link:labelArc xlink:from="loc_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential.9155.11.6" xlink:to="lab_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential.5494.339304" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_EffectiveIncomeTaxRateReconciliationTaxHolidays.9165.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationTaxHolidays" xlink:type="locator" />
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    <link:loc xlink:label="loc_IncomeTaxHolidayAggregateDollarAmount.11137.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeTaxHolidayAggregateDollarAmount" xlink:type="locator" />
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    <link:loc xlink:label="loc_IncomeTaxHolidayIncomeTaxBenefitsPerShare.11155.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeTaxHolidayIncomeTaxBenefitsPerShare" xlink:type="locator" />
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    <link:loc xlink:label="loc_IncomeTaxHolidayIncomeTaxBenefitsPerShare.11155.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeTaxHolidayIncomeTaxBenefitsPerShare" xlink:type="locator" />
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    <link:loc xlink:label="loc_CurrentIncomeTaxExpenseBenefit.7543.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CurrentIncomeTaxExpenseBenefit.7543.11.6" xlink:to="lab_CurrentIncomeTaxExpenseBenefit.3403.339254" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CurrentIncomeTaxExpenseBenefit.3403.339254" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CurrentIncomeTaxExpenseBenefit.3403.339254">Current Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:label="loc_CurrentIncomeTaxExpenseBenefit.7543.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:type="locator" />
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    <link:label xlink:label="lab_CurrentIncomeTaxExpenseBenefit.355437.339255" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CurrentIncomeTaxExpenseBenefit.355437.339255">Current Tax Expenses (Benefit)</link:label>
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    <link:loc xlink:label="loc_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock.16381.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_OtherCurrentAssetsTextBlock.13737.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherCurrentAssetsTextBlock" xlink:type="locator" />
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    <link:label xlink:label="lab_OtherCurrentAssetsTextBlock.182828.339504" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OtherCurrentAssetsTextBlock.182828.339504">PREPAID EXPENSE AND OTHER CURRENT ASSETS</link:label>
    <link:loc xlink:label="loc_OtherAssetsCurrent.13853.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:type="locator" />
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    <link:label xlink:label="lab_OtherAssetsCurrent.12521.338849" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OtherAssetsCurrent.12521.338849">Other Assets, Current</link:label>
    <link:loc xlink:label="loc_OtherAssetsCurrent.13853.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:type="locator" />
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    <link:label xlink:label="lab_OtherAssetsCurrent.351144.338850" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OtherAssetsCurrent.351144.338850">Others</link:label>
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    <link:label xlink:label="lab_OtherInventoriesSpareParts.12968.338851" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OtherInventoriesSpareParts.12968.338851">Other Inventories, Spare Parts, Gross</link:label>
    <link:loc xlink:label="loc_OtherInventoriesSpareParts.13960.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherInventoriesSpareParts" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherInventoriesSpareParts.13960.11.7" xlink:to="lab_OtherInventoriesSpareParts.351122.338852" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherInventoriesSpareParts.351122.338852" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OtherInventoriesSpareParts.351122.338852">Spare parts</link:label>
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    <link:labelArc xlink:from="loc_PrepaidExpenseAndOtherAssetsCurrent.14776.11.9" xlink:to="lab_PrepaidExpenseAndOtherAssetsCurrent.351142.338853" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PrepaidExpenseAndOtherAssetsCurrent.351142.338853" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_PrepaidExpenseAndOtherAssetsCurrent.351142.338853">Total</link:label>
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    <link:label xlink:label="lab_PrepaidInsurance.14216.338854" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PrepaidInsurance.14216.338854">Prepaid Insurance</link:label>
    <link:loc xlink:label="loc_PrepaidInsurance.14762.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PrepaidInsurance" xlink:type="locator" />
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    <link:label xlink:label="lab_PrepaidInsurance.351127.338855" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PrepaidInsurance.351127.338855">Prepaid insurance fee</link:label>
    <link:loc xlink:label="loc_PrepaidTaxes.14773.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PrepaidTaxes" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PrepaidTaxes.14773.11.6" xlink:to="lab_PrepaidTaxes.14202.338856" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PrepaidTaxes.14202.338856" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PrepaidTaxes.14202.338856">Prepaid Taxes</link:label>
    <link:loc xlink:label="loc_PrepaidTaxes.14773.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PrepaidTaxes" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PrepaidTaxes.14773.11.7" xlink:to="lab_PrepaidTaxes.351139.338857" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PrepaidTaxes.351139.338857" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PrepaidTaxes.351139.338857">Prepaid Value added tax ("VAT")</link:label>
    <link:loc xlink:label="loc_ValueAddedTaxReceivableCurrent.17932.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ValueAddedTaxReceivableCurrent" xlink:type="locator" />
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    <link:label xlink:label="lab_ValueAddedTaxReceivableCurrent.19055.338858" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ValueAddedTaxReceivableCurrent.19055.338858">Value Added Tax Receivable, Current</link:label>
    <link:loc xlink:label="loc_ValueAddedTaxReceivableCurrent.17932.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ValueAddedTaxReceivableCurrent" xlink:type="locator" />
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    <link:label xlink:label="lab_ValueAddedTaxReceivableCurrent.351126.338859" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ValueAddedTaxReceivableCurrent.351126.338859">VAT Refundable</link:label>
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    <link:label xlink:label="lab_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock.249028.338699" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock.249028.338699">Schedule of Prepaid Expense and Other Current Assets</link:label>
    <link:loc xlink:label="loc_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock.7881.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock.7881.11.6" xlink:to="lab_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock.3730.338698" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_PropertyPlantAndEquipmentNetAbstract.4258.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNetAbstract" xlink:type="locator" />
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    <link:label xlink:label="lab_PropertyPlantAndEquipmentNetAbstract.248948.338592" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentNetAbstract.248948.338592">PROPERTY, PLANT AND EQUIPMENT, NET [Abstract]</link:label>
    <link:loc xlink:label="loc_PropertyPlantAndEquipmentDisclosureTextBlock.15230.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_PropertyPlantAndEquipmentDisclosureTextBlock.15230.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_PropertyPlantAndEquipmentTextBlock.15219.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:type="locator" />
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    <link:label xlink:label="lab_PropertyPlantAndEquipmentTextBlock.14924.338702" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentTextBlock.14924.338702">Property, Plant and Equipment [Table Text Block]</link:label>
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    <link:loc xlink:label="loc_RelatedPartyTransactionsAbstract.4544.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:type="locator" />
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    <link:label xlink:label="lab_RelatedPartyTransactionsAbstract.248973.338620" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionsAbstract.248973.338620">RELATED PARTY TRANSACTIONS AND BALANCES [Abstract]</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionsDisclosureTextBlock.15755.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_RelatedPartyTransactionsDisclosureTextBlock.15755.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_CapitalConversionMember.40303.11.6" xlink:href="dq-20131231.xsd#dq_CapitalConversionMember" xlink:type="locator" />
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    <link:loc xlink:label="loc_CashPaymentsForTransactionsMember.40305.11.6" xlink:href="dq-20131231.xsd#dq_CashPaymentsForTransactionsMember" xlink:type="locator" />
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    <link:loc xlink:label="loc_CashProceedsFromTransactionsMember.40306.11.6" xlink:href="dq-20131231.xsd#dq_CashProceedsFromTransactionsMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashProceedsFromTransactionsMember.40306.11.6" xlink:to="lab_CashProceedsFromTransactionsMember.354988.339183" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashProceedsFromTransactionsMember.354988.339183" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CashProceedsFromTransactionsMember.354988.339183">Cash Proceeds from Transactions [Member]</link:label>
    <link:loc xlink:label="loc_CashProceedsFromTransactionsMember.40306.11.12" xlink:href="dq-20131231.xsd#dq_CashProceedsFromTransactionsMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashProceedsFromTransactionsMember.40306.11.12" xlink:to="lab_CashProceedsFromTransactionsMember12.355110.339184" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashProceedsFromTransactionsMember12.355110.339184" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_CashProceedsFromTransactionsMember12.355110.339184">Cash Proceeds from Transactions [Member]</link:label>
    <link:loc xlink:label="loc_DaqoGroupMember.40319.11.6" xlink:href="dq-20131231.xsd#dq_DaqoGroupMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DaqoGroupMember.40319.11.6" xlink:to="lab_DaqoGroupMember.354910.339185" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DaqoGroupMember.354910.339185" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DaqoGroupMember.354910.339185">Daqo Group [Member]</link:label>
    <link:loc xlink:label="loc_DaqoNewMaterialMember.40320.11.6" xlink:href="dq-20131231.xsd#dq_DaqoNewMaterialMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DaqoNewMaterialMember.40320.11.6" xlink:to="lab_DaqoNewMaterialMember.355222.339186" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DaqoNewMaterialMember.355222.339186" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DaqoNewMaterialMember.355222.339186">Daqo New Material [Member]</link:label>
    <link:loc xlink:label="loc_DaqoNewMaterialMember.40320.11.12" xlink:href="dq-20131231.xsd#dq_DaqoNewMaterialMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DaqoNewMaterialMember.40320.11.12" xlink:to="lab_DaqoNewMaterialMember12.355223.339187" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DaqoNewMaterialMember12.355223.339187" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_DaqoNewMaterialMember12.355223.339187">Daqo New Material [Member]</link:label>
    <link:loc xlink:label="loc_DaqoSolarCoLtdMember.40321.11.6" xlink:href="dq-20131231.xsd#dq_DaqoSolarCoLtdMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DaqoSolarCoLtdMember.40321.11.6" xlink:to="lab_DaqoSolarCoLtdMember.354909.339188" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DaqoSolarCoLtdMember.354909.339188" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DaqoSolarCoLtdMember.354909.339188">Daqo Solar Co Ltd [Member]</link:label>
    <link:loc xlink:label="loc_DaqoSolarCoLtdMember.40321.11.12" xlink:href="dq-20131231.xsd#dq_DaqoSolarCoLtdMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DaqoSolarCoLtdMember.40321.11.12" xlink:to="lab_DaqoSolarCoLtdMember12.354914.339189" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DaqoSolarCoLtdMember12.354914.339189" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_DaqoSolarCoLtdMember12.354914.339189">Daqo Solar Co Ltd [Member]</link:label>
    <link:loc xlink:label="loc_DaqoXinjiangInvestmentCoLtdMember.40322.11.6" xlink:href="dq-20131231.xsd#dq_DaqoXinjiangInvestmentCoLtdMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DaqoXinjiangInvestmentCoLtdMember.40322.11.6" xlink:to="lab_DaqoXinjiangInvestmentCoLtdMember.485620.339190" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DaqoXinjiangInvestmentCoLtdMember.485620.339190" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DaqoXinjiangInvestmentCoLtdMember.485620.339190">Daqo Xinjiang Investment Co., Ltd. [Member]</link:label>
    <link:loc xlink:label="loc_DaqoXinjiangInvestmentCoLtdMember.40322.11.12" xlink:href="dq-20131231.xsd#dq_DaqoXinjiangInvestmentCoLtdMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DaqoXinjiangInvestmentCoLtdMember.40322.11.12" xlink:to="lab_DaqoXinjiangInvestmentCoLtdMember12.485621.339191" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DaqoXinjiangInvestmentCoLtdMember12.485621.339191" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_DaqoXinjiangInvestmentCoLtdMember12.485621.339191">Daqo Xinjiang Investment Co., Ltd. [Member]</link:label>
    <link:loc xlink:label="loc_DispositionOfSubsidiaryMember.40330.11.6" xlink:href="dq-20131231.xsd#dq_DispositionOfSubsidiaryMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DispositionOfSubsidiaryMember.40330.11.6" xlink:to="lab_DispositionOfSubsidiaryMember.485622.339192" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DispositionOfSubsidiaryMember.485622.339192" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DispositionOfSubsidiaryMember.485622.339192">Disposition of Subsidiary [Member]</link:label>
    <link:loc xlink:label="loc_DispositionOfSubsidiaryMember.40330.11.12" xlink:href="dq-20131231.xsd#dq_DispositionOfSubsidiaryMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DispositionOfSubsidiaryMember.40330.11.12" xlink:to="lab_DispositionOfSubsidiaryMember12.485623.339193" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DispositionOfSubsidiaryMember12.485623.339193" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_DispositionOfSubsidiaryMember12.485623.339193">Disposition of Subsidiary [Member]</link:label>
    <link:loc xlink:label="loc_DueToRelatedPartiesCurrent.9048.11.21" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DueToRelatedPartiesCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DueToRelatedPartiesCurrent.9048.11.21" xlink:to="lab_DueToRelatedPartiesCurrent51.356156.338990" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DueToRelatedPartiesCurrent51.356156.338990" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DueToRelatedPartiesCurrent51.356156.338990">Amount due to related party</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInDueFromRelatedPartiesCurrent.11287.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInDueFromRelatedPartiesCurrent.11287.11.7" xlink:to="lab_IncreaseDecreaseInDueFromRelatedPartiesCurrent.354961.339194" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInDueFromRelatedPartiesCurrent.354961.339194" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInDueFromRelatedPartiesCurrent.354961.339194">Change in amount due from related parties</link:label>
    <link:loc xlink:label="loc_InterestExpenseRelatedParty.11627.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestExpenseRelatedParty" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InterestExpenseRelatedParty.11627.11.7" xlink:to="lab_InterestExpenseRelatedParty.354907.339196" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_InterestExpenseRelatedParty.354907.339196" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_InterestExpenseRelatedParty.354907.339196">Interest charged</link:label>
    <link:loc xlink:label="loc_InterestExpenseRelatedParty.11627.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestExpenseRelatedParty" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InterestExpenseRelatedParty.11627.11.6" xlink:to="lab_InterestExpenseRelatedParty.9357.339195" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_InterestExpenseRelatedParty.9357.339195" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_InterestExpenseRelatedParty.9357.339195">Interest Expense, Related Party</link:label>
    <link:loc xlink:label="loc_LoanExtendedMember.40345.11.6" xlink:href="dq-20131231.xsd#dq_LoanExtendedMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanExtendedMember.40345.11.6" xlink:to="lab_LoanExtendedMember.354981.339197" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoanExtendedMember.354981.339197" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LoanExtendedMember.354981.339197">Loan Extended [Member]</link:label>
    <link:loc xlink:label="loc_OtherSubsidiariesOfDaqoGroupMember.40360.11.6" xlink:href="dq-20131231.xsd#dq_OtherSubsidiariesOfDaqoGroupMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherSubsidiariesOfDaqoGroupMember.40360.11.6" xlink:to="lab_OtherSubsidiariesOfDaqoGroupMember.354913.339198" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherSubsidiariesOfDaqoGroupMember.354913.339198" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OtherSubsidiariesOfDaqoGroupMember.354913.339198">Other Subsidiaries of Daqo Group [Member]</link:label>
    <link:loc xlink:label="loc_PaymentsForFinancingTransactionMember.40362.11.6" xlink:href="dq-20131231.xsd#dq_PaymentsForFinancingTransactionMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PaymentsForFinancingTransactionMember.40362.11.6" xlink:to="lab_PaymentsForFinancingTransactionMember.354979.339199" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PaymentsForFinancingTransactionMember.354979.339199" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PaymentsForFinancingTransactionMember.354979.339199">Payments for Financing Transaction [Member]</link:label>
    <link:loc xlink:label="loc_PaymentsForFinancingTransactionMember.40362.11.12" xlink:href="dq-20131231.xsd#dq_PaymentsForFinancingTransactionMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PaymentsForFinancingTransactionMember.40362.11.12" xlink:to="lab_PaymentsForFinancingTransactionMember12.355104.339200" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PaymentsForFinancingTransactionMember12.355104.339200" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_PaymentsForFinancingTransactionMember12.355104.339200">Payments for Financing Transaction [Member]</link:label>
    <link:loc xlink:label="loc_PolysiliconMember.40363.11.6" xlink:href="dq-20131231.xsd#dq_PolysiliconMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PolysiliconMember.40363.11.6" xlink:to="lab_PolysiliconMember.351855.339201" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PolysiliconMember.351855.339201" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PolysiliconMember.351855.339201">Polysilicon [Member]</link:label>
    <link:loc xlink:label="loc_PolysiliconMember.40363.11.12" xlink:href="dq-20131231.xsd#dq_PolysiliconMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PolysiliconMember.40363.11.12" xlink:to="lab_PolysiliconMember.351856.339202" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PolysiliconMember.351856.339202" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_PolysiliconMember.351856.339202">Polysilicon Member</link:label>
    <link:loc xlink:label="loc_PrepaymentReceivedMember.40366.11.6" xlink:href="dq-20131231.xsd#dq_PrepaymentReceivedMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PrepaymentReceivedMember.40366.11.6" xlink:to="lab_PrepaymentReceivedMember.485629.339203" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PrepaymentReceivedMember.485629.339203" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PrepaymentReceivedMember.485629.339203">Prepayment Received [Member]</link:label>
    <link:loc xlink:label="loc_ProceedsFromFinancingTransactionMember.40367.11.6" xlink:href="dq-20131231.xsd#dq_ProceedsFromFinancingTransactionMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromFinancingTransactionMember.40367.11.6" xlink:to="lab_ProceedsFromFinancingTransactionMember.354978.339204" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromFinancingTransactionMember.354978.339204" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromFinancingTransactionMember.354978.339204">Proceeds from Financing Transaction [Member]</link:label>
    <link:loc xlink:label="loc_ProceedsFromFinancingTransactionMember.40367.11.12" xlink:href="dq-20131231.xsd#dq_ProceedsFromFinancingTransactionMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromFinancingTransactionMember.40367.11.12" xlink:to="lab_ProceedsFromFinancingTransactionMember12.355103.339205" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromFinancingTransactionMember12.355103.339205" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromFinancingTransactionMember12.355103.339205">Proceeds from Financing Transaction [Member]</link:label>
    <link:loc xlink:label="loc_ProcessingFeesMember.40368.11.6" xlink:href="dq-20131231.xsd#dq_ProcessingFeesMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProcessingFeesMember.40368.11.6" xlink:to="lab_ProcessingFeesMember.354984.339206" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProcessingFeesMember.354984.339206" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProcessingFeesMember.354984.339206">Processing Fees [Member]</link:label>
    <link:loc xlink:label="loc_ProcessingFeesMember.40368.11.12" xlink:href="dq-20131231.xsd#dq_ProcessingFeesMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProcessingFeesMember.40368.11.12" xlink:to="lab_ProcessingFeesMember12.355108.339207" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProcessingFeesMember12.355108.339207" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_ProcessingFeesMember12.355108.339207">Processing Fees [Member]</link:label>
    <link:loc xlink:label="loc_ProductOrServiceAxis.4226.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProductOrServiceAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProductOrServiceAxis.4226.11.6" xlink:to="lab_ProductOrServiceAxis.14763.339208" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProductOrServiceAxis.14763.339208" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProductOrServiceAxis.14763.339208">Products and Services [Axis]</link:label>
    <link:loc xlink:label="loc_ProductsAndServicesDomain.3915.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProductsAndServicesDomain" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProductsAndServicesDomain.3915.11.6" xlink:to="lab_ProductsAndServicesDomain.13198.339209" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProductsAndServicesDomain.13198.339209" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProductsAndServicesDomain.13198.339209">Products and Services [Domain]</link:label>
    <link:loc xlink:label="loc_PurchasesOfFixedAssetsMember.40369.11.6" xlink:href="dq-20131231.xsd#dq_PurchasesOfFixedAssetsMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PurchasesOfFixedAssetsMember.40369.11.6" xlink:to="lab_PurchasesOfFixedAssetsMember.354982.339210" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PurchasesOfFixedAssetsMember.354982.339210" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PurchasesOfFixedAssetsMember.354982.339210">Purchases of Fixed Assets [Member]</link:label>
    <link:loc xlink:label="loc_PurchasesOfFixedAssetsMember.40369.11.12" xlink:href="dq-20131231.xsd#dq_PurchasesOfFixedAssetsMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PurchasesOfFixedAssetsMember.40369.11.12" xlink:to="lab_PurchasesOfFixedAssetsMember12.355106.339211" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PurchasesOfFixedAssetsMember12.355106.339211" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_PurchasesOfFixedAssetsMember12.355106.339211">Purchases of Fixed Assets [Member]</link:label>
    <link:loc xlink:label="loc_PurchasesOfRawMaterialsMember.40370.11.6" xlink:href="dq-20131231.xsd#dq_PurchasesOfRawMaterialsMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PurchasesOfRawMaterialsMember.40370.11.6" xlink:to="lab_PurchasesOfRawMaterialsMember.354983.339212" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PurchasesOfRawMaterialsMember.354983.339212" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PurchasesOfRawMaterialsMember.354983.339212">Purchases of Raw Materials [Member]</link:label>
    <link:loc xlink:label="loc_PurchasesOfRawMaterialsMember.40370.11.12" xlink:href="dq-20131231.xsd#dq_PurchasesOfRawMaterialsMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PurchasesOfRawMaterialsMember.40370.11.12" xlink:to="lab_PurchasesOfRawMaterialsMember12.355107.339213" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PurchasesOfRawMaterialsMember12.355107.339213" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_PurchasesOfRawMaterialsMember12.355107.339213">Purchases of Raw Materials [Member]</link:label>
    <link:loc xlink:label="loc_RelatedPartyDomain.4542.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyDomain.4542.11.6" xlink:to="lab_RelatedPartyDomain.15733.339214" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyDomain.15733.339214" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyDomain.15733.339214">Related Party [Domain]</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionAmountsOfTransaction.15770.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionAmountsOfTransaction.15770.11.6" xlink:to="lab_RelatedPartyTransactionAmountsOfTransaction.15735.339215" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionAmountsOfTransaction.15735.339215" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionAmountsOfTransaction.15735.339215">Related Party Transaction, Amounts of Transaction</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionAmountsOfTransaction.15770.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionAmountsOfTransaction.15770.11.7" xlink:to="lab_RelatedPartyTransactionAmountsOfTransaction7.355101.339216" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionAmountsOfTransaction7.355101.339216" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionAmountsOfTransaction7.355101.339216">Other transactions</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionAxis.4534.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionAxis.4534.11.6" xlink:to="lab_RelatedPartyTransactionAxis.16336" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionAxis.16336" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionAxis.16336">Related Party Transaction [Axis]</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionDomain.4533.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionDomain.4533.11.6" xlink:to="lab_RelatedPartyTransactionDomain.16334" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionDomain.16334" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionDomain.16334">Related Party Transaction [Domain]</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionDueFromToRelatedPartyAbstract.4541.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionDueFromToRelatedPartyAbstract.4541.11.6" xlink:to="lab_RelatedPartyTransactionDueFromToRelatedPartyAbstract.15713.339221" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionDueFromToRelatedPartyAbstract.15713.339221" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionDueFromToRelatedPartyAbstract.15713.339221">Related Party Transaction, Due from (to) Related Party [Abstract]</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionDueFromToRelatedPartyAbstract.4541.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionDueFromToRelatedPartyAbstract.4541.11.7" xlink:to="lab_RelatedPartyTransactionDueFromToRelatedPartyAbstract.355221.339222" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionDueFromToRelatedPartyAbstract.355221.339222" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionDueFromToRelatedPartyAbstract.355221.339222">Related party balances:</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionDueFromToRelatedPartyCurrent.15776.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionDueFromToRelatedPartyCurrent.15776.11.6" xlink:to="lab_RelatedPartyTransactionDueFromToRelatedPartyCurrent.15707.339223" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionDueFromToRelatedPartyCurrent.15707.339223" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionDueFromToRelatedPartyCurrent.15707.339223">Related Party Transaction, Due from (to) Related Party, Current</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionDueFromToRelatedPartyCurrent.15776.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionDueFromToRelatedPartyCurrent.15776.11.7" xlink:to="lab_RelatedPartyTransactionDueFromToRelatedPartyCurrent.355220.339224" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionDueFromToRelatedPartyCurrent.355220.339224" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionDueFromToRelatedPartyCurrent.355220.339224">Amount due from/to related party</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty.15778.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty.15778.11.6" xlink:to="lab_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty.15738.339225" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty.15738.339225" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty.15738.339225">Related Party Transaction, Expenses from Transactions with Related Party</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty.15778.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty.15778.11.7" xlink:to="lab_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty7.355102.339226" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty7.355102.339226" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty7.355102.339226">Expense</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty.15771.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty.15771.11.6" xlink:to="lab_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty.15730.339227" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty.15730.339227" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty.15730.339227">Related Party Transaction, Other Revenues from Transactions with Related Party</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty.15771.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty.15771.11.7" xlink:to="lab_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty.355100.339228" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty.355100.339228" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty.355100.339228">Processing fee</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionPurchasesFromRelatedParty.15761.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionPurchasesFromRelatedParty.15761.11.6" xlink:to="lab_RelatedPartyTransactionPurchasesFromRelatedParty.15712.339229" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionPurchasesFromRelatedParty.15712.339229" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionPurchasesFromRelatedParty.15712.339229">Related Party Transaction, Purchases from Related Party</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionPurchasesFromRelatedParty.15761.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionPurchasesFromRelatedParty.15761.11.7" xlink:to="lab_RelatedPartyTransactionPurchasesFromRelatedParty.355099.339230" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionPurchasesFromRelatedParty.355099.339230" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionPurchasesFromRelatedParty.355099.339230">Purchases</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionRate.15768.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionRate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionRate.15768.11.6" xlink:to="lab_RelatedPartyTransactionRate.15725.339231" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionRate.15725.339231" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionRate.15725.339231">Related Party Transaction, Rate</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionRate.15768.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionRate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionRate.15768.11.7" xlink:to="lab_RelatedPartyTransactionRate.489803.339232" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionRate.489803.339232" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionRate.489803.339232">Interest rate on loan</link:label>
    <link:loc xlink:label="loc_RelatedPartyTransactionsByRelatedPartyAxis.4540.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelatedPartyTransactionsByRelatedPartyAxis.4540.11.6" xlink:to="lab_RelatedPartyTransactionsByRelatedPartyAxis.15743.339233" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelatedPartyTransactionsByRelatedPartyAxis.15743.339233" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RelatedPartyTransactionsByRelatedPartyAxis.15743.339233">Related Party [Axis]</link:label>
    <link:loc xlink:label="loc_RentalExpensesMember.40377.11.6" xlink:href="dq-20131231.xsd#dq_RentalExpensesMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RentalExpensesMember.40377.11.6" xlink:to="lab_RentalExpensesMember.354985.339234" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RentalExpensesMember.354985.339234" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RentalExpensesMember.354985.339234">Rental Expenses [Member]</link:label>
    <link:loc xlink:label="loc_RentalExpensesMember.40377.11.12" xlink:href="dq-20131231.xsd#dq_RentalExpensesMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RentalExpensesMember.40377.11.12" xlink:to="lab_RentalExpensesMember12.355109.339235" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RentalExpensesMember12.355109.339235" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_RentalExpensesMember12.355109.339235">Rental Expenses [Member]</link:label>
    <link:loc xlink:label="loc_PrepaymentReceivedMember.40366.11.12" xlink:href="dq-20131231.xsd#dq_PrepaymentReceivedMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PrepaymentReceivedMember.40366.11.12" xlink:to="lab_RepaymentReceivedMember12.486433.339236" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RepaymentReceivedMember12.486433.339236" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_RepaymentReceivedMember12.486433.339236">Prepayment Received [Member]</link:label>
    <link:loc xlink:label="loc_RevenueFromRelatedParties.16102.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RevenueFromRelatedParties" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RevenueFromRelatedParties.16102.11.7" xlink:to="lab_RevenueFromRelatedParties.355097.339237" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RevenueFromRelatedParties.355097.339237" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_RevenueFromRelatedParties.355097.339237">Sales</link:label>
    <link:loc xlink:label="loc_ServiceExpensesMember.40384.11.6" xlink:href="dq-20131231.xsd#dq_ServiceExpensesMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ServiceExpensesMember.40384.11.6" xlink:to="lab_ServiceExpensesMember.355113.339238" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ServiceExpensesMember.355113.339238" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ServiceExpensesMember.355113.339238">Service Expenses [Member]</link:label>
    <link:loc xlink:label="loc_ServiceExpensesMember.40384.11.12" xlink:href="dq-20131231.xsd#dq_ServiceExpensesMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ServiceExpensesMember.40384.11.12" xlink:to="lab_ServiceExpensesMember12.355114.339239" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ServiceExpensesMember12.355114.339239" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_ServiceExpensesMember12.355114.339239">Service Expenses [Member]</link:label>
    <link:loc xlink:label="loc_ValueOfEquipmentReceived.40398.11.6" xlink:href="dq-20131231.xsd#dq_ValueOfEquipmentReceived" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ValueOfEquipmentReceived.40398.11.6" xlink:to="lab_ValueOfEquipmentReceived.355429.339240" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ValueOfEquipmentReceived.355429.339240" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ValueOfEquipmentReceived.355429.339240">Value Of Equipment Received</link:label>
    <link:loc xlink:label="loc_WaferMember.40401.11.6" xlink:href="dq-20131231.xsd#dq_WaferMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_WaferMember.40401.11.6" xlink:to="lab_WaferMember.351860.339241" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_WaferMember.351860.339241" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_WaferMember.351860.339241">Wafer [Member]</link:label>
    <link:loc xlink:label="loc_WaferMember.40401.11.12" xlink:href="dq-20131231.xsd#dq_WaferMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_WaferMember.40401.11.12" xlink:to="lab_WaferMember.351867.339242" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_WaferMember.351867.339242" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_WaferMember.351867.339242">Wafer [Member]</link:label>
    <link:loc xlink:label="loc_ZhengjiangDaqoSolarCoLtdMember.40403.11.6" xlink:href="dq-20131231.xsd#dq_ZhengjiangDaqoSolarCoLtdMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ZhengjiangDaqoSolarCoLtdMember.40403.11.6" xlink:to="lab_ZhengjiangDaqoSolarCoLtdMember.354911.339243" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ZhengjiangDaqoSolarCoLtdMember.354911.339243" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ZhengjiangDaqoSolarCoLtdMember.354911.339243">Zhengjiang Daqo Solar Co. Ltd [Member]</link:label>
    <link:loc xlink:label="loc_ZhengjiangDaqoSolarCoLtdMember.40403.11.12" xlink:href="dq-20131231.xsd#dq_ZhengjiangDaqoSolarCoLtdMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ZhengjiangDaqoSolarCoLtdMember.40403.11.12" xlink:to="lab_ZhengjiangDaqoSolarCoLtdMember12.354912.339244" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_LoanExtendedMember.40345.11.12" xlink:href="dq-20131231.xsd#dq_LoanExtendedMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanExtendedMember.40345.11.12" xlink:to="LoanExtendedMember.355105.339245" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="LoanExtendedMember.355105.339245" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="LoanExtendedMember.355105.339245">Loan Extended [Member]</link:label>
    <link:loc xlink:label="loc_ValueOfEquipmentReceived.40398.11.7" xlink:href="dq-20131231.xsd#dq_ValueOfEquipmentReceived" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ValueOfEquipmentReceived.40398.11.7" xlink:to="ValueOfEquipmentReceived.355430.339246" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="ValueOfEquipmentReceived.355430.339246" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="ValueOfEquipmentReceived.355430.339246">Value of equipment received</link:label>
    <link:loc xlink:label="loc_ValueOfEquipmentReceived.40398.11.12" xlink:href="dq-20131231.xsd#dq_ValueOfEquipmentReceived" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ValueOfEquipmentReceived.40398.11.12" xlink:to="ValueOfEquipmentReceived.355431.339247" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="ValueOfEquipmentReceived.355431.339247" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="ValueOfEquipmentReceived.355431.339247">Value Of Equipment Received.</link:label>
    <link:loc xlink:label="loc_ScheduleOfRelatedPartyBalancesLoansTableTextBlock.40382.11.6" xlink:href="dq-20131231.xsd#dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfRelatedPartyBalancesLoansTableTextBlock.40382.11.6" xlink:to="lab_ScheduleOfRelatedPartyBalancesLoansTableTextBlock.249106.338733" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfRelatedPartyBalancesLoansTableTextBlock.249106.338733" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfRelatedPartyBalancesLoansTableTextBlock.249106.338733">Schedule of Related Party Balances, Loans [Table Text Block]</link:label>
    <link:loc xlink:label="loc_ScheduleOfRelatedPartyBalancesLoansTableTextBlock.40382.11.7" xlink:href="dq-20131231.xsd#dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfRelatedPartyBalancesLoansTableTextBlock.40382.11.7" xlink:to="lab_ScheduleOfRelatedPartyBalancesLoansTableTextBlock.249111.338734" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfRelatedPartyBalancesLoansTableTextBlock.249111.338734" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfRelatedPartyBalancesLoansTableTextBlock.249111.338734">Schedule of Related Party Balances, Loans</link:label>
    <link:loc xlink:label="loc_ScheduleOfRelatedPartyBalancesLoansTableTextBlock.40382.11.12" xlink:href="dq-20131231.xsd#dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfRelatedPartyBalancesLoansTableTextBlock.40382.11.12" xlink:to="lab_ScheduleOfRelatedPartyBalancesLoansTableTextBlock.249122.338735" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfRelatedPartyBalancesLoansTableTextBlock.249122.338735" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfRelatedPartyBalancesLoansTableTextBlock.249122.338735">Tabular disclosure of short-term loan balances with related parties.</link:label>
    <link:loc xlink:label="loc_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.40383.11.6" xlink:href="dq-20131231.xsd#dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.40383.11.6" xlink:to="lab_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.249113.338736" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.249113.338736" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.249113.338736">Schedule of Related Party Balances, Payables [Table Text Block]</link:label>
    <link:loc xlink:label="loc_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.40383.11.7" xlink:href="dq-20131231.xsd#dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.40383.11.7" xlink:to="lab_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.249118.338737" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.249118.338737" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.249118.338737">Schedule of Related Party Balances, Payables</link:label>
    <link:loc xlink:label="loc_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.40383.11.12" xlink:href="dq-20131231.xsd#dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.40383.11.12" xlink:to="lab_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.249123.338738" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.249123.338738" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock.249123.338738">Tabular disclosure of payables balances with related parties.</link:label>
    <link:loc xlink:label="loc_ScheduleOfRelatedPartyTransactionsTableTextBlock.16406.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfRelatedPartyTransactionsTableTextBlock.16406.11.6" xlink:to="lab_ScheduleOfRelatedPartyTransactionsTableTextBlock.16644.338739" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfRelatedPartyTransactionsTableTextBlock.16644.338739" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfRelatedPartyTransactionsTableTextBlock.16644.338739">Schedule of Related Party Transactions [Table Text Block]</link:label>
    <link:loc xlink:label="loc_ScheduleOfRelatedPartyTransactionsTableTextBlock.16406.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfRelatedPartyTransactionsTableTextBlock.16406.11.7" xlink:to="lab_ScheduleOfRelatedPartyTransactionsTableTextBlock.249119.338740" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfRelatedPartyTransactionsTableTextBlock.249119.338740" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfRelatedPartyTransactionsTableTextBlock.249119.338740">Schedule of Related Party Transactions</link:label>
    <link:loc xlink:label="loc_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract.1637.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract.1637.11.6" xlink:to="lab_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract.248971.338617" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract.248971.338617" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract.248971.338617">SHARE BASED COMPENSATION [Abstract]</link:label>
    <link:loc xlink:label="loc_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock.8793.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock.8793.11.6" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl.247545.338618" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl.247545.338618" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl.247545.338618">Disclosure Of Compensation Related Costs Share Based Payments [Text Block]</link:label>
    <link:loc xlink:label="loc_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock.8793.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock.8793.11.7" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl.247546.338619" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl.247546.338619" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl.247546.338619">SHARE BASED COMPENSATION</link:label>
    <link:loc xlink:label="loc_AllocatedShareBasedCompensationExpense.5919.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AllocatedShareBasedCompensationExpense.5919.11.6" xlink:to="lab_AllocatedShareBasedCompensationExpense.852.339356" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AllocatedShareBasedCompensationExpense.852.339356" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AllocatedShareBasedCompensationExpense.852.339356">Allocated Share-based Compensation Expense</link:label>
    <link:loc xlink:label="loc_AllocatedShareBasedCompensationExpense.5919.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AllocatedShareBasedCompensationExpense.5919.11.7" xlink:to="lab_AllocatedShareBasedCompensationExpense7.138668.339357" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AllocatedShareBasedCompensationExpense7.138668.339357" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_AllocatedShareBasedCompensationExpense7.138668.339357">Share-based compensation</link:label>
    <link:loc xlink:label="loc_AwardDateAxis.360.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AwardDateAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AwardDateAxis.360.11.6" xlink:to="lab_AwardDateAxis.266" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AwardDateAxis.266" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AwardDateAxis.266">Award Date [Axis]</link:label>
    <link:loc xlink:label="loc_AwardDateDomain.361.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AwardDateDomain" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AwardDateDomain.361.11.6" xlink:to="lab_AwardDateDomain.267" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AwardDateDomain.267" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AwardDateDomain.267">Award Date [Domain]</link:label>
    <link:loc xlink:label="loc_AwardTypeAxis.359.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AwardTypeAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AwardTypeAxis.359.11.6" xlink:to="lab_AwardTypeAxis.265" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AwardTypeAxis.265" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AwardTypeAxis.265">Award Type [Axis]</link:label>
    <link:loc xlink:label="loc_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1.9214.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1.9214.11.7" xlink:to="lab_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1.134104.339364" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1.134104.339364" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1.134104.339364">Unrecognized compensation cost, recognition period</link:label>
    <link:loc xlink:label="loc_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1.9214.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1.9214.11.6" xlink:to="lab_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1.5594.339363" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1.5594.339363" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1.5594.339363">Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition</link:label>
    <link:loc xlink:label="loc_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions.9215.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions.9215.11.7" xlink:to="lab_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions.134110.339366" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions.134110.339366" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions.134110.339366">Unrecognized compensation cost related to non-vested stock options</link:label>
    <link:loc xlink:label="loc_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions.9215.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions.9215.11.6" xlink:to="lab_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions.5629.339365" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions.5629.339365" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions.5629.339365">Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options</link:label>
    <link:loc xlink:label="loc_EmployeeStockOptionMember.1806.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EmployeeStockOptionMember.1806.11.6" xlink:to="lab_EmployeeStockOptionMember.5884" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EmployeeStockOptionMember.5884" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_EmployeeStockOptionMember.5884">Employee Stock Option [Member]</link:label>
    <link:loc xlink:label="loc_IndependentDirectorsMember.40343.11.6" xlink:href="dq-20131231.xsd#dq_IndependentDirectorsMember" xlink:type="locator" />
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    <link:label xlink:label="lab_IndependentDirectorsMember.488974.339367" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_IndependentDirectorsMember.488974.339367">Independent Directors [Member]</link:label>
    <link:loc xlink:label="loc_IndependentDirectorsMember.40343.11.12" xlink:href="dq-20131231.xsd#dq_IndependentDirectorsMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IndependentDirectorsMember.40343.11.12" xlink:to="lab_IndependentDirectorsMember12.489074.339368" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IndependentDirectorsMember12.489074.339368" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_IndependentDirectorsMember12.489074.339368">Independent Directors [Member]</link:label>
    <link:loc xlink:label="loc_OptionsGrantedPeriodFourMember.40354.11.6" xlink:href="dq-20131231.xsd#dq_OptionsGrantedPeriodFourMember" xlink:type="locator" />
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    <link:label xlink:label="lab_OptionsGrantedPeriodFourMember.486436.339371" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OptionsGrantedPeriodFourMember.486436.339371">Options Granted Period Four [Member]</link:label>
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    <link:label xlink:label="lab_OptionsGrantedPeriodFourMember12.489080.339372" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_OptionsGrantedPeriodFourMember12.489080.339372">Options Granted Period Four [Member]</link:label>
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    <link:label xlink:label="lab_OptionsGrantedPeriodFourMember7.489081.339373" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OptionsGrantedPeriodFourMember7.489081.339373">Options Granted October 31, 2009 [Member]</link:label>
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    <link:label xlink:label="lab_OptionsGrantedPeriodOneMember.363125.339374" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OptionsGrantedPeriodOneMember.363125.339374">Options Granted Period One [Member]</link:label>
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    <link:label xlink:label="lab_OptionsGrantedPeriodOneMember.363127.339376" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_OptionsGrantedPeriodOneMember.363127.339376">Options Granted Period One Member.</link:label>
    <link:loc xlink:label="loc_OptionsGrantedPeriodOneMember.40355.11.7" xlink:href="dq-20131231.xsd#dq_OptionsGrantedPeriodOneMember" xlink:type="locator" />
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    <link:label xlink:label="lab_OptionsGrantedPeriodOneMember.363128.339375" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OptionsGrantedPeriodOneMember.363128.339375">Options Granted October 6, 2010 [Member]</link:label>
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    <link:label xlink:label="lab_OptionsGrantedPeriodThreeMember.482783.339431" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OptionsGrantedPeriodThreeMember.482783.339431">Options Granted Period Three [Member]</link:label>
    <link:loc xlink:label="loc_OptionsGrantedPeriodThreeMember.40356.11.7" xlink:href="dq-20131231.xsd#dq_OptionsGrantedPeriodThreeMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OptionsGrantedPeriodThreeMember.40356.11.7" xlink:to="lab_OptionsGrantedPeriodThreeMember.482784.339432" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OptionsGrantedPeriodThreeMember.482784.339432" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OptionsGrantedPeriodThreeMember.482784.339432">Options Granted January 9, 2012 [Member]</link:label>
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    <link:labelArc xlink:from="loc_OptionsGrantedPeriodThreeMember.40356.11.12" xlink:to="lab_OptionsGrantedPeriodThreeMember.482785.339433" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OptionsGrantedPeriodThreeMember.482785.339433" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_OptionsGrantedPeriodThreeMember.482785.339433">Options Granted Period Three [Member]</link:label>
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    <link:labelArc xlink:from="loc_OptionsGrantedPeriodTwoMember.40357.11.6" xlink:to="lab_OptionsGrantedPeriodTwoMember.363130.339377" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OptionsGrantedPeriodTwoMember.363130.339377" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OptionsGrantedPeriodTwoMember.363130.339377">Options Granted Period Two [Member]</link:label>
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    <link:labelArc xlink:from="loc_OptionsGrantedPeriodTwoMember.40357.11.12" xlink:to="lab_OptionsGrantedPeriodTwoMember.363131.339379" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OptionsGrantedPeriodTwoMember.363131.339379" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_OptionsGrantedPeriodTwoMember.363131.339379">Options Granted Period Two Member.</link:label>
    <link:loc xlink:label="loc_OptionsGrantedPeriodTwoMember.40357.11.7" xlink:href="dq-20131231.xsd#dq_OptionsGrantedPeriodTwoMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OptionsGrantedPeriodTwoMember.40357.11.7" xlink:to="lab_OptionsGrantedPeriodTwoMember.363132.339378" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OptionsGrantedPeriodTwoMember.363132.339378" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OptionsGrantedPeriodTwoMember.363132.339378">Options Granted December 3, 2010 [Member]</link:label>
    <link:loc xlink:label="loc_RelevantEmployeesAndExecutiveOfficersMember.40376.11.6" xlink:href="dq-20131231.xsd#dq_RelevantEmployeesAndExecutiveOfficersMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelevantEmployeesAndExecutiveOfficersMember.40376.11.6" xlink:to="lab_RelevantEmployeesAndExecutiveOfficersMember.489072.339382" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelevantEmployeesAndExecutiveOfficersMember.489072.339382" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RelevantEmployeesAndExecutiveOfficersMember.489072.339382">Relevant Employees and Executive Officers [Member]</link:label>
    <link:loc xlink:label="loc_RelevantEmployeesAndExecutiveOfficersMember.40376.11.12" xlink:href="dq-20131231.xsd#dq_RelevantEmployeesAndExecutiveOfficersMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RelevantEmployeesAndExecutiveOfficersMember.40376.11.12" xlink:to="lab_RelevantEmployeesAndExecutiveOfficersMember12.489073.339383" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RelevantEmployeesAndExecutiveOfficersMember12.489073.339383" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_RelevantEmployeesAndExecutiveOfficersMember12.489073.339383">Relevant Employees and Executive Officers [Member]</link:label>
    <link:loc xlink:label="loc_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable.4883.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable.4883.11.6" xlink:to="lab_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable.16890.339384" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable.16890.339384" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable.16890.339384">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</link:label>
    <link:loc xlink:label="loc_ShareBasedCompensationAbstract.5074.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShareBasedCompensationAbstract.5074.11.6" xlink:to="lab_ShareBasedCompensationAbstract.18172" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShareBasedCompensationAbstract.18172" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ShareBasedCompensationAbstract.18172">Share-based Compensation [Abstract]</link:label>
    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1.16907.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1.16907.11.7" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1.135586.339387" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1.135586.339387" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1.135586.339387">Vesting period for plan</link:label>
    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1.16907.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1.16907.11.6" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1.17443.339386" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1.17443.339386" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1.17443.339386">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period</link:label>
    <link:loc xlink:label="loc_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage.16193.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage.16193.11.6" xlink:to="lab_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage.16997" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage.16997" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage.16997">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage</link:label>
    <link:loc xlink:label="loc_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage.16193.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage.16193.11.7" xlink:to="lab_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage.339532" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage.339532" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage.339532">Vesting percentage</link:label>
    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice.16928.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice.16928.11.6" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice.17472.339397" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice.17472.339397" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice.17472.339397">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price</link:label>
    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice.16928.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice" xlink:type="locator" />
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    <link:label xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice.487397.339398" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice.487397.339398">Exercise price</link:label>
    <link:loc xlink:label="loc_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1.16199.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1.16199.11.6" xlink:to="lab_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1.16361.339399" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1.16199.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate.16972.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate.16972.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems.5072.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:type="locator" />
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    <link:label xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant.17518.339406" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant.17518.339406">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant</link:label>
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross.16909.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue.16978.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue.16978.11.6" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue.17513.339410" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber.16990.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber.16990.11.7" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber.160554.346105" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber.160554.346105" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber.160554.346105">Share options granted</link:label>
    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber.16990.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:type="locator" />
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    <link:label xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber.17577.339331" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber.17577.339331">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</link:label>
    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost.16986.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost.16986.11.6" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost.17537.339412" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost.16986.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost.16986.11.7" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost.489078.339413" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified.40389.11.6" xlink:href="dq-20131231.xsd#dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified.40389.11.12" xlink:href="dq-20131231.xsd#dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified.40389.11.7" xlink:href="dq-20131231.xsd#dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain.5086.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:type="locator" />
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    <link:loc xlink:label="loc_StockIssuedDuringPeriodSharesIssuedForServices.17220.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:type="locator" />
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    <link:loc xlink:label="loc_StockIssuedDuringPeriodSharesIssuedForServices.17220.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:type="locator" />
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    <link:loc xlink:label="loc_TitleOfIndividualAxis.5328.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_TitleOfIndividualAxis" xlink:type="locator" />
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    <link:loc xlink:label="loc_VestingDomain.5494.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_VestingDomain" xlink:type="locator" />
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    <link:label xlink:label="lab_VestingInstallmentsDuringVestingPeriod.363035.339420" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_VestingInstallmentsDuringVestingPeriod.363035.339420">Vesting Installments During Vesting Period</link:label>
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    <link:label xlink:label="lab_VestingInstallmentsDuringVestingPeriod.363036.339422" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_VestingInstallmentsDuringVestingPeriod.363036.339422">Vesting Installments During Vesting Period.</link:label>
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    <link:label xlink:label="lab_VestingInstallmentsDuringVestingPeriod.363037.339421" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_VestingInstallmentsDuringVestingPeriod.363037.339421">Vesting installments during vesting period</link:label>
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    <link:label xlink:label="lab_VestingInYearOneMember.339358" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_VestingInYearOneMember.339358">Vesting in Year One [Member]</link:label>
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    <link:labelArc xlink:from="loc_VestingInYearThreeMember.40399.11.6" xlink:to="lab_VestingInYearThreeMember.338873" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_VestingInYearThreeMember.338873" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_VestingInYearThreeMember.338873">Vesting in Year Three [Member]</link:label>
    <link:loc xlink:label="loc_VestingInYearTwoMember.40297.11.6" xlink:href="dq-20131231.xsd#dq_VestingInYearTwoMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_VestingInYearTwoMember.40297.11.6" xlink:to="lab_VestingInYearTwoMember.339360" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_VestingInYearTwoMember.339360" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_VestingInYearTwoMember.339360">Vesting in Year Two [Member]</link:label>
    <link:loc xlink:label="loc_VestingInYearOneMember.40296.11.12" xlink:href="dq-20131231.xsd#dq_VestingInYearOneMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_VestingInYearOneMember.40296.11.12" xlink:to="VestinginYearOneMember.339359" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="VestinginYearOneMember.339359" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="VestinginYearOneMember.339359">Vesting in Year One [Member]</link:label>
    <link:loc xlink:label="loc_VestingInYearThreeMember.40399.11.12" xlink:href="dq-20131231.xsd#dq_VestingInYearThreeMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_VestingInYearThreeMember.40399.11.12" xlink:to="VestinginYearThreeMember.338875" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="VestinginYearThreeMember.338875" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="VestinginYearThreeMember.338875">Vesting in Year Three [Member]</link:label>
    <link:loc xlink:label="loc_VestingInYearTwoMember.40297.11.12" xlink:href="dq-20131231.xsd#dq_VestingInYearTwoMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_VestingInYearTwoMember.40297.11.12" xlink:to="VestinginYearTwoMember.339361" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="VestinginYearTwoMember.339361" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="VestinginYearTwoMember.339361">Vesting in Year Two [Member]</link:label>
    <link:loc xlink:label="loc_BinomialOptionPricingModelExerciseMultiple.40299.11.6" xlink:href="dq-20131231.xsd#dq_BinomialOptionPricingModelExerciseMultiple" xlink:type="locator" />
    <link:labelArc xlink:from="loc_BinomialOptionPricingModelExerciseMultiple.40299.11.6" xlink:to="lab_BinomialOptionPricingModelExerciseMultiple.363104.339423" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_BinomialOptionPricingModelExerciseMultiple.363104.339423" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_BinomialOptionPricingModelExerciseMultiple.363104.339423">Binomial Option Pricing Model Exercise Multiple</link:label>
    <link:loc xlink:label="loc_BinomialOptionPricingModelExerciseMultiple.40299.11.12" xlink:href="dq-20131231.xsd#dq_BinomialOptionPricingModelExerciseMultiple" xlink:type="locator" />
    <link:labelArc xlink:from="loc_BinomialOptionPricingModelExerciseMultiple.40299.11.12" xlink:to="lab_BinomialOptionPricingModelExerciseMultiple.363108.339425" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_BinomialOptionPricingModelExerciseMultiple.363108.339425" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_BinomialOptionPricingModelExerciseMultiple.363108.339425">Binomial Option Pricing Model, Exercise Multiple.</link:label>
    <link:loc xlink:label="loc_BinomialOptionPricingModelExerciseMultiple.40299.11.7" xlink:href="dq-20131231.xsd#dq_BinomialOptionPricingModelExerciseMultiple" xlink:type="locator" />
    <link:labelArc xlink:from="loc_BinomialOptionPricingModelExerciseMultiple.40299.11.7" xlink:to="lab_BinomialOptionPricingModelExerciseMultiple.363109.339424" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_BinomialOptionPricingModelExerciseMultiple.363109.339424" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_BinomialOptionPricingModelExerciseMultiple.363109.339424">Exercise multiple</link:label>
    <link:loc xlink:label="loc_BinomialOptionPricingModelPostVestingForfeitureRate.40300.11.6" xlink:href="dq-20131231.xsd#dq_BinomialOptionPricingModelPostVestingForfeitureRate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_BinomialOptionPricingModelPostVestingForfeitureRate.40300.11.6" xlink:to="lab_BinomialOptionPricingModelPostVestingForfeitureRate.363116.339426" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_BinomialOptionPricingModelPostVestingForfeitureRate.363116.339426" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_BinomialOptionPricingModelPostVestingForfeitureRate.363116.339426">Binomial Option Pricing Model Post Vesting Forfeiture Rate</link:label>
    <link:loc xlink:label="loc_BinomialOptionPricingModelPostVestingForfeitureRate.40300.11.12" xlink:href="dq-20131231.xsd#dq_BinomialOptionPricingModelPostVestingForfeitureRate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_BinomialOptionPricingModelPostVestingForfeitureRate.40300.11.12" xlink:to="lab_BinomialOptionPricingModelPostVestingForfeitureRate.363118.339428" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_BinomialOptionPricingModelPostVestingForfeitureRate.363118.339428" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_BinomialOptionPricingModelPostVestingForfeitureRate.363118.339428">Binomial Option Pricing Model Post Vesting Forfeiture Rate.</link:label>
    <link:loc xlink:label="loc_BinomialOptionPricingModelPostVestingForfeitureRate.40300.11.7" xlink:href="dq-20131231.xsd#dq_BinomialOptionPricingModelPostVestingForfeitureRate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_BinomialOptionPricingModelPostVestingForfeitureRate.40300.11.7" xlink:to="lab_BinomialOptionPricingModelPostVestingForfeitureRate.363120.339427" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_BinomialOptionPricingModelPostVestingForfeitureRate.363120.339427" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_BinomialOptionPricingModelPostVestingForfeitureRate.363120.339427">Post-vesting forfeiture rate</link:label>
    <link:loc xlink:label="loc_OptionsGrantedApril3Member.40326.11.7" xlink:href="dq-20131231.xsd#dq_OptionsGrantedApril3Member" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OptionsGrantedApril3Member.40326.11.7" xlink:to="lab_DebtInstrumentTermExtended.387171" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentTermExtended.387171" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentTermExtended.387171">Options Granted April 3, 2013 [Member]</link:label>
    <link:loc xlink:label="loc_MaximumMember.3373.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_MaximumMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_MaximumMember.3373.11.6" xlink:to="lab_MaximumMember.11410.339429" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_MaximumMember.11410.339429" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_MaximumMember.11410.339429">Maximum [Member]</link:label>
    <link:loc xlink:label="loc_MinimumMember.3382.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_MinimumMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_MinimumMember.3382.11.6" xlink:to="lab_MinimumMember.11450.339430" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_MinimumMember.11450.339430" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_MinimumMember.11450.339430">Minimum [Member]</link:label>
    <link:loc xlink:label="loc_OptionsGrantedApril3Member.40326.11.12" xlink:href="dq-20131231.xsd#dq_OptionsGrantedApril3Member" xlink:type="locator" />
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    <link:label xlink:label="lab_OptionsGrantedApril3Member12.387174" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_OptionsGrantedApril3Member12.387174">Options Granted April 3, 2013 [Member]</link:label>
    <link:loc xlink:label="loc_OptionsGrantedApril3Member.40326.11.6" xlink:href="dq-20131231.xsd#dq_OptionsGrantedApril3Member" xlink:type="locator" />
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    <link:label xlink:label="lab_OptionsGrantedApril3Member6.387173" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OptionsGrantedApril3Member6.387173">Options Granted April 3 [Member]</link:label>
    <link:loc xlink:label="loc_RangeAxis.4365.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RangeAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RangeAxis.4365.11.6" xlink:to="lab_RangeAxis.15198.339434" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RangeAxis.15198.339434" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RangeAxis.15198.339434">Range [Axis]</link:label>
    <link:loc xlink:label="loc_RangeMember.4366.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RangeMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RangeMember.4366.11.6" xlink:to="lab_RangeMember.15199.339435" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RangeMember.15199.339435" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RangeMember.15199.339435">Range [Domain]</link:label>
    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate.16956.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate.16956.11.6" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate.17508.339436" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate.16956.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:type="locator" />
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    <link:label xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate.482782.339437" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate.482782.339437">Dividend yield</link:label>
    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate.16975.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate.16975.11.6" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate.17501.339438" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate.16975.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract.5077.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract.5077.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1.16217.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:type="locator" />
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    <link:label xlink:label="lab_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1.16365.339325" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1.16365.339325">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term</link:label>
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod.16959.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue.17001.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward.5085.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:type="locator" />
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    <link:label xlink:label="lab_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice.17479.339353" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice.17479.339353">Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price</link:label>
    <link:loc xlink:label="loc_StockIssuedDuringPeriodSharesStockOptionsExercised.17264.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:type="locator" />
    <link:labelArc xlink:from="loc_StockIssuedDuringPeriodSharesStockOptionsExercised.17264.11.52" xlink:to="lab_StockIssuedDuringPeriodSharesStockOptionsExercised42.134221.387176" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_StockIssuedDuringPeriodSharesStockOptionsExercised42.134221.387176" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_StockIssuedDuringPeriodSharesStockOptionsExercised42.134221.387176">Exercised</link:label>
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    <link:labelArc xlink:from="loc_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1.16197.11.7" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1.363177.339355" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1.363177.339355" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1.363177.339355">Options exercisable</link:label>
    <link:loc xlink:label="loc_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.16335.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.16335.11.6" xlink:to="lab_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.16559.338729" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.16559.338729" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.16559.338729">Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]</link:label>
    <link:loc xlink:label="loc_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.16335.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.16335.11.7" xlink:to="lab_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.249102.338730" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.249102.338730" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.249102.338730">Summary of Stock Option Activity</link:label>
    <link:loc xlink:label="loc_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.16360.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.16360.11.6" xlink:to="lab_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.16593.338731" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.16593.338731" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.16593.338731">Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]</link:label>
    <link:loc xlink:label="loc_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.16360.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.16360.11.7" xlink:to="lab_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.249098.338732" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.249098.338732" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.249098.338732">Schedule of Assumptions Used</link:label>
    <link:loc xlink:label="loc_SubsequentEventsAbstract.5215.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SubsequentEventsAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SubsequentEventsAbstract.5215.11.6" xlink:to="lab_SubsequentEventsAbstract.248979.339033" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SubsequentEventsAbstract.248979.339033" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_SubsequentEventsAbstract.248979.339033">SUBSEQUENT EVENTS [Abstract]</link:label>
    <link:loc xlink:label="loc_SubsequentEventsTextBlock.17331.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SubsequentEventsTextBlock.17331.11.6" xlink:to="us-gaap_SubsequentEventsTextBlock_lbl.247840.338635" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_SubsequentEventsTextBlock_lbl.247840.338635" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_SubsequentEventsTextBlock_lbl.247840.338635">Subsequent Events [Text Block]</link:label>
    <link:loc xlink:label="loc_SubsequentEventsTextBlock.17331.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:type="locator" />
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    <link:label xlink:label="us-gaap_SubsequentEventsTextBlock_lbl.247841.338636" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_SubsequentEventsTextBlock_lbl.247841.338636">SUBSEQUENT EVENTS</link:label>
    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross.16909.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross.16909.11.8" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross8.487399.339453" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross8.487399.339453" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross8.487399.339453">Options granted</link:label>
    <link:loc xlink:label="loc_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice.16885.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice.16885.11.8" xlink:to="lab_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice8.487398.339454" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_SubsequentEventLineItems.5217.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SubsequentEventLineItems" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SubsequentEventLineItems.5217.11.6" xlink:to="lab_SubsequentEventLineItems.18100.339455" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SubsequentEventLineItems.18100.339455" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_SubsequentEventLineItems.18100.339455">Subsequent Event [Line Items]</link:label>
    <link:loc xlink:label="loc_SubsequentEventMember.5218.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SubsequentEventMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SubsequentEventMember.5218.11.6" xlink:to="lab_SubsequentEventMember.18109.339456" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SubsequentEventMember.18109.339456" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_SubsequentEventMember.18109.339456">Subsequent Event [Member]</link:label>
    <link:loc xlink:label="loc_SubsequentEventTable.5216.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SubsequentEventTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SubsequentEventTable.5216.11.6" xlink:to="lab_SubsequentEventTable.18108.339457" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SubsequentEventTable.18108.339457" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_SubsequentEventTable.18108.339457">Subsequent Event [Table]</link:label>
    <link:loc xlink:label="loc_SubsequentEventTypeAxis.5220.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:type="locator" />
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    <link:label xlink:label="lab_SubsequentEventTypeAxis.18104.339458" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_SubsequentEventTypeAxis.18104.339458">Subsequent Event Type [Axis]</link:label>
    <link:loc xlink:label="loc_SubsequentEventTypeDomain.5219.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:type="locator" />
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    <link:label xlink:label="lab_SubsequentEventTypeDomain.18097.339459" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_SubsequentEventTypeDomain.18097.339459">Subsequent Event Type [Domain]</link:label>
    <link:loc xlink:label="loc_VestingInFirstSixMonthsMember.46092.11.6" xlink:href="dq-20131231.xsd#dq_VestingInFirstSixMonthsMember" xlink:type="locator" />
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    <link:label xlink:label="lab_VestingInFirstSixMonthsMember.387181" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_VestingInFirstSixMonthsMember.387181">Vesting in First Six Months [Member]</link:label>
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    <link:label xlink:label="lab_VestingInFirstSixMonthsMember12.387182" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_VestingInFirstSixMonthsMember12.387182">Vesting in First Six Months [Member]</link:label>
    <link:loc xlink:label="loc_SegmentReportingAbstract.4989.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_SegmentReportingDisclosureTextBlock.16757.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SegmentReportingDisclosureTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_ConsolidationItemsAxis.1161.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConsolidationItemsAxis" xlink:type="locator" />
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    <link:label xlink:label="lab_CustomerLMember.387179" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CustomerLMember.387179">Customer L [Member]</link:label>
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    <link:labelArc xlink:from="loc_IntersegmentEliminationMember.2589.11.6" xlink:to="lab_IntersegmentEliminationMember.351869.338925" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IntersegmentEliminationMember.351869.338925" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_IntersegmentEliminationMember.351869.338925">Elimination [Member]</link:label>
    <link:loc xlink:label="loc_OperatingSegmentsMember.3700.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingSegmentsMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OperatingSegmentsMember.3700.11.6" xlink:to="lab_OperatingSegmentsMember.12896" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingSegmentsMember.12896" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OperatingSegmentsMember.12896">Operating Segments [Member]</link:label>
    <link:loc xlink:label="loc_ScheduleOfSegmentReportingInformationBySegmentTable.4885.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfSegmentReportingInformationBySegmentTable.4885.11.6" xlink:to="lab_ScheduleOfSegmentReportingInformationBySegmentTable.16887.338930" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfSegmentReportingInformationBySegmentTable.16887.338930" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfSegmentReportingInformationBySegmentTable.16887.338930">Schedule of Segment Reporting Information, by Segment [Table]</link:label>
    <link:loc xlink:label="loc_SegmentDomain.4981.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SegmentDomain" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SegmentDomain.4981.11.6" xlink:to="lab_SegmentDomain.17169.338931" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SegmentDomain.17169.338931" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_SegmentDomain.17169.338931">Segment [Domain]</link:label>
    <link:loc xlink:label="loc_SegmentReportingInformationLineItems.4975.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SegmentReportingInformationLineItems.4975.11.6" xlink:to="lab_SegmentReportingInformationLineItems.17108.338932" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SegmentReportingInformationLineItems.17108.338932" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_SegmentReportingInformationLineItems.17108.338932">Segment Reporting Information [Line Items]</link:label>
    <link:loc xlink:label="loc_StatementBusinessSegmentsAxis.5172.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_StatementBusinessSegmentsAxis.5172.11.6" xlink:to="lab_StatementBusinessSegmentsAxis.18580" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_StatementBusinessSegmentsAxis.18580" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_StatementBusinessSegmentsAxis.18580">Segments [Axis]</link:label>
    <link:loc xlink:label="loc_Revenues.16160.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Revenues" xlink:type="locator" />
    <link:labelArc xlink:from="loc_Revenues.16160.11.8" xlink:to="lab_us-gaap_Revenues.386982.339534" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_us-gaap_Revenues.386982.339534" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_us-gaap_Revenues.386982.339534">Revenue</link:label>
    <link:loc xlink:label="loc_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock.16417.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock.16417.11.6" xlink:to="lab_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock.16569.338747" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock.16569.338747" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock.16569.338747">Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]</link:label>
    <link:loc xlink:label="loc_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock.16417.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock.16417.11.7" xlink:to="lab_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock.249138.338748" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock.249138.338748" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock.249138.338748">Schedule of Revenues of Major Customers</link:label>
    <link:loc xlink:label="loc_ScheduleOfSegmentReportingInformationBySegmentTextBlock.16522.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfSegmentReportingInformationBySegmentTextBlock.16522.11.6" xlink:to="lab_ScheduleOfSegmentReportingInformationBySegmentTextBlock.16924.338749" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfSegmentReportingInformationBySegmentTextBlock.16924.338749" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfSegmentReportingInformationBySegmentTextBlock.16924.338749">Schedule of Segment Reporting Information, by Segment [Table Text Block]</link:label>
    <link:loc xlink:label="loc_ScheduleOfSegmentReportingInformationBySegmentTextBlock.16522.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfSegmentReportingInformationBySegmentTextBlock.16522.11.7" xlink:to="lab_ScheduleOfSegmentReportingInformationBySegmentTextBlock7.249135.338750" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfSegmentReportingInformationBySegmentTextBlock7.249135.338750" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfSegmentReportingInformationBySegmentTextBlock7.249135.338750">Summary of Financial Information by Segment</link:label>
    <link:loc xlink:label="loc_AccountingPoliciesAbstract.414.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AccountingPoliciesAbstract.414.11.6" xlink:to="lab_AccountingPoliciesAbstract.248937.338582" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AccountingPoliciesAbstract.248937.338582" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AccountingPoliciesAbstract.248937.338582">SUMMARY OF PRINCIPAL ACCOUNTING POLICIES [Abstract]</link:label>
    <link:loc xlink:label="loc_SignificantAccountingPoliciesTextBlock.17124.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SignificantAccountingPoliciesTextBlock.17124.11.6" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl.247799.338583" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl.247799.338583" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_SignificantAccountingPoliciesTextBlock_lbl.247799.338583">Significant Accounting Policies [Text Block]</link:label>
    <link:loc xlink:label="loc_SignificantAccountingPoliciesTextBlock.17124.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SignificantAccountingPoliciesTextBlock.17124.11.7" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl.247800.338584" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl.247800.338584" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_SignificantAccountingPoliciesTextBlock_lbl.247800.338584">SUMMARY OF PRINCIPAL ACCOUNTING POLICIES</link:label>
    <link:loc xlink:label="loc_AccountingPoliciesLineItems.40290.11.6" xlink:href="dq-20131231.xsd#dq_AccountingPoliciesLineItems" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AccountingPoliciesLineItems.40290.11.6" xlink:to="lab_AccountingPoliciesLineItems.350932.339552" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AccountingPoliciesLineItems.350932.339552" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AccountingPoliciesLineItems.350932.339552">Accounting Policies [Line Items]</link:label>
    <link:loc xlink:label="loc_AccountingPoliciesLineItems.40290.11.12" xlink:href="dq-20131231.xsd#dq_AccountingPoliciesLineItems" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AccountingPoliciesLineItems.40290.11.12" xlink:to="lab_AccountingPoliciesLineItems.350933.339553" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AccountingPoliciesLineItems.350933.339553" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_AccountingPoliciesLineItems.350933.339553">AccountingPoliciesLineItems</link:label>
    <link:loc xlink:label="loc_AccountingPoliciesTable.40291.11.6" xlink:href="dq-20131231.xsd#dq_AccountingPoliciesTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AccountingPoliciesTable.40291.11.6" xlink:to="lab_AccountingPoliciesTable.350907.339554" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AccountingPoliciesTable.350907.339554" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AccountingPoliciesTable.350907.339554">Accounting Policies [Table]</link:label>
    <link:loc xlink:label="loc_AccountingPoliciesTable.40291.11.12" xlink:href="dq-20131231.xsd#dq_AccountingPoliciesTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AccountingPoliciesTable.40291.11.12" xlink:to="lab_AccountingPoliciesTable.350908.339555" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AccountingPoliciesTable.350908.339555" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_AccountingPoliciesTable.350908.339555">Accounting Policies Table</link:label>
    <link:loc xlink:label="loc_AssetImpairmentChargesAbstract.591.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetImpairmentChargesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AssetImpairmentChargesAbstract.591.11.6" xlink:to="lab_AssetImpairmentChargesAbstract.1040.338756" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AssetImpairmentChargesAbstract.1040.338756" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AssetImpairmentChargesAbstract.1040.338756">Asset Impairment Charges [Abstract]</link:label>
    <link:loc xlink:label="loc_AssetImpairmentChargesAbstract.591.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetImpairmentChargesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AssetImpairmentChargesAbstract.591.11.7" xlink:to="lab_AssetImpairmentChargesAbstract.1862081.268932.338757" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AssetImpairmentChargesAbstract.1862081.268932.338757" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_AssetImpairmentChargesAbstract.1862081.268932.338757">Impairment of long-lived assets</link:label>
    <link:loc xlink:label="loc_AssetReportingCurrencyDenominatedValue.6026.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetReportingCurrencyDenominatedValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AssetReportingCurrencyDenominatedValue.6026.11.6" xlink:to="lab_AssetReportingCurrencyDenominatedValue.1028.338758" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AssetReportingCurrencyDenominatedValue.1028.338758" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AssetReportingCurrencyDenominatedValue.1028.338758">Asset, Reporting Currency Denominated, Value</link:label>
    <link:loc xlink:label="loc_AssetReportingCurrencyDenominatedValue.6026.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetReportingCurrencyDenominatedValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AssetReportingCurrencyDenominatedValue.6026.11.7" xlink:to="lab_AssetReportingCurrencyDenominatedValue.350887.338759" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AssetReportingCurrencyDenominatedValue.350887.338759" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_AssetReportingCurrencyDenominatedValue.350887.338759">Aggregate amount of cash and cash equivalents and restricted cash denominated in RMB</link:label>
    <link:loc xlink:label="loc_AverageProductionCostOfPolysilicon.40375.11.6" xlink:href="dq-20131231.xsd#dq_AverageProductionCostOfPolysilicon" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AverageProductionCostOfPolysilicon.40375.11.6" xlink:to="lab_AverageProductionCostOfPolysilicon.339219" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AverageProductionCostOfPolysilicon.339219" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AverageProductionCostOfPolysilicon.339219">Average Production Cost Of Polysilicon</link:label>
    <link:loc xlink:label="loc_AverageProductionCostOfPolysilicon.40375.11.12" xlink:href="dq-20131231.xsd#dq_AverageProductionCostOfPolysilicon" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AverageProductionCostOfPolysilicon.40375.11.12" xlink:to="lab_AverageProductionCostOfPolysilicon12.339220" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AverageProductionCostOfPolysilicon12.339220" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_AverageProductionCostOfPolysilicon12.339220">Average Production Cost Of Polysilicon.</link:label>
    <link:loc xlink:label="loc_AverageSellingPriceOfPolysilicon.40295.11.6" xlink:href="dq-20131231.xsd#dq_AverageSellingPriceOfPolysilicon" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AverageSellingPriceOfPolysilicon.40295.11.6" xlink:to="lab_AverageSellingPriceOfPolysilicon.350917.338760" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AverageSellingPriceOfPolysilicon.350917.338760" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AverageSellingPriceOfPolysilicon.350917.338760">Average Selling Price Of Polysilicon</link:label>
    <link:loc xlink:label="loc_AverageSellingPriceOfPolysilicon.40295.11.7" xlink:href="dq-20131231.xsd#dq_AverageSellingPriceOfPolysilicon" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AverageSellingPriceOfPolysilicon.40295.11.7" xlink:to="lab_AverageSellingPriceOfPolysilicon7.485538.338761" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AverageSellingPriceOfPolysilicon7.485538.338761" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_AverageSellingPriceOfPolysilicon7.485538.338761">Average selling price ("ASP") of polysilicon</link:label>
    <link:loc xlink:label="loc_AverageSellingPriceOfPolysilicon.40295.11.12" xlink:href="dq-20131231.xsd#dq_AverageSellingPriceOfPolysilicon" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AverageSellingPriceOfPolysilicon.40295.11.12" xlink:to="lab_ConcentrationRiskCustomerAxis.350924.338763" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ConcentrationRiskCustomerAxis.350924.338763" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_ConcentrationRiskCustomerAxis.350924.338763">Average Selling Price Of Polysilicon.</link:label>
    <link:loc xlink:label="loc_DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown.8881.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown.8881.11.7" xlink:to="lab_DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown.485555.338768" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown.8881.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown" xlink:type="locator" />
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    <link:label xlink:label="lab_GovernmentGrantsAndSubsidiesAbstract.350863.339557" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_GovernmentGrantsAndSubsidiesAbstract.350863.339557">Government Grants And Subsidies Abstract</link:label>
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    <link:loc xlink:label="loc_GrantsRecognizedAsOffsetToDepreciation.40336.11.6" xlink:href="dq-20131231.xsd#dq_GrantsRecognizedAsOffsetToDepreciation" xlink:type="locator" />
    <link:labelArc xlink:from="loc_GrantsRecognizedAsOffsetToDepreciation.40336.11.6" xlink:to="lab_GrantsRecognizedAsOffsetToDepreciation.351091.338783" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_GrantsRecognizedAsOffsetToDepreciation.351091.338783" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_GrantsRecognizedAsOffsetToDepreciation.351091.338783">Grants Recognized As Offset To Depreciation</link:label>
    <link:loc xlink:label="loc_GrantsRecognizedAsOffsetToDepreciation.40336.11.12" xlink:href="dq-20131231.xsd#dq_GrantsRecognizedAsOffsetToDepreciation" xlink:type="locator" />
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    <link:label xlink:label="lab_GrantsRecognizedAsOffsetToDepreciation.351097.338785" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_GrantsRecognizedAsOffsetToDepreciation.351097.338785">Grants Recognized As Offset To Depreciation</link:label>
    <link:loc xlink:label="loc_GrantsRecognizedAsOffsetToDepreciation.40336.11.7" xlink:href="dq-20131231.xsd#dq_GrantsRecognizedAsOffsetToDepreciation" xlink:type="locator" />
    <link:labelArc xlink:from="loc_GrantsRecognizedAsOffsetToDepreciation.40336.11.7" xlink:to="lab_GrantsRecognizedAsOffsetToDepreciation.351098.338784" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_GrantsRelatedToAssetsReceived.40337.11.6" xlink:href="dq-20131231.xsd#dq_GrantsRelatedToAssetsReceived" xlink:type="locator" />
    <link:labelArc xlink:from="loc_GrantsRelatedToAssetsReceived.40337.11.6" xlink:to="lab_GrantsRelatedToAssetsReceived.351027.338786" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_GrantsRelatedToAssetsReceived.351027.338786" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_GrantsRelatedToAssetsReceived.351027.338786">Grants Related To Assets Received</link:label>
    <link:loc xlink:label="loc_GrantsRelatedToAssetsReceived.40337.11.12" xlink:href="dq-20131231.xsd#dq_GrantsRelatedToAssetsReceived" xlink:type="locator" />
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    <link:label xlink:label="lab_GrantsRelatedToAssetsReceived.351034.338788" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_GrantsRelatedToAssetsReceived.351034.338788">Grants Related To Assets Received</link:label>
    <link:loc xlink:label="loc_GrantsRelatedToAssetsReceived.40337.11.7" xlink:href="dq-20131231.xsd#dq_GrantsRelatedToAssetsReceived" xlink:type="locator" />
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    <link:label xlink:label="lab_GrantsRelatedToAssetsReceived.351035.338787" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_GrantsRelatedToAssetsReceived.351035.338787">Government grants related to assets</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInOtherLoans.11395.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInOtherLoans" xlink:type="locator" />
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    <link:label xlink:label="lab_IncreaseDecreaseInOtherLoans.350981.338790" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInOtherLoans.350981.338790">Additional short-term working capital loans obtained</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInOtherLoans.11395.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInOtherLoans" xlink:type="locator" />
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    <link:label xlink:label="lab_IncreaseDecreaseInOtherLoans.8881.338789" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInOtherLoans.8881.338789">Increase (Decrease) in Other Loans</link:label>
    <link:loc xlink:label="loc_InventoryAdjustmentsAbstract.2912.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InventoryAdjustmentsAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_LeaseAndRentalExpense.12075.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LeaseAndRentalExpense" xlink:type="locator" />
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    <link:loc xlink:label="loc_OtherCostsAndDisclosuresAbstract.3782.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherCostsAndDisclosuresAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherCostsAndDisclosuresAbstract.3782.11.7" xlink:to="lab_OtherCostsAndDisclosuresAbstract.350857.338806" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherCostsAndDisclosuresAbstract.350857.338806" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OtherCostsAndDisclosuresAbstract.350857.338806">Shipping and handling</link:label>
    <link:loc xlink:label="loc_OtherSalesRevenueNet.14040.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherSalesRevenueNet" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherSalesRevenueNet.14040.11.6" xlink:to="lab_OtherSalesRevenueNet.13001.338807" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherSalesRevenueNet.13001.338807" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OtherSalesRevenueNet.13001.338807">Other Revenue, Net</link:label>
    <link:loc xlink:label="loc_OtherSalesRevenueNet.14040.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherSalesRevenueNet" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherSalesRevenueNet.14040.11.7" xlink:to="lab_OtherSalesRevenueNet.350854.338808" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherSalesRevenueNet.350854.338808" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OtherSalesRevenueNet.350854.338808">Revenue of other products</link:label>
    <link:loc xlink:label="loc_PrepaidExpenseNoncurrentAbstract.4131.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PrepaidExpenseNoncurrentAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PrepaidExpenseNoncurrentAbstract.4131.11.6" xlink:to="lab_PrepaidExpenseNoncurrentAbstract.14224.338809" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PrepaidExpenseNoncurrentAbstract.14224.338809" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PrepaidExpenseNoncurrentAbstract.14224.338809">Prepaid Expense, Noncurrent [Abstract]</link:label>
    <link:loc xlink:label="loc_PrepaidExpenseNoncurrentAbstract.4131.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PrepaidExpenseNoncurrentAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PrepaidExpenseNoncurrentAbstract.4131.11.7" xlink:to="lab_PrepaidExpenseNoncurrentAbstract.350838.338810" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PrepaidExpenseNoncurrentAbstract.350838.338810" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PrepaidExpenseNoncurrentAbstract.350838.338810">Prepaid land use rights</link:label>
    <link:loc xlink:label="loc_ProceedsFromLinesOfCredit.14988.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromLinesOfCredit.14988.11.6" xlink:to="lab_ProceedsFromLinesOfCredit.15081" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromLinesOfCredit.15081" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromLinesOfCredit.15081">Proceeds from Lines of Credit</link:label>
    <link:loc xlink:label="loc_ProceedsFromLinesOfCredit.14988.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromLinesOfCredit.14988.11.7" xlink:to="lab_ProceedsFromLinesOfCredit.180198.384003" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromLinesOfCredit.180198.384003" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromLinesOfCredit.180198.384003">Proceeds from bank acceptance note credit facility</link:label>
    <link:loc xlink:label="loc_ProceedsFromShortTermDebt.15063.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromShortTermDebt" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromShortTermDebt.15063.11.6" xlink:to="lab_ProceedsFromShortTermDebt.15184" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromShortTermDebt.15184" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromShortTermDebt.15184">Proceeds from Short-term Debt</link:label>
    <link:loc xlink:label="loc_ProceedsFromShortTermDebt.15063.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromShortTermDebt" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromShortTermDebt.15063.11.7" xlink:to="lab_ProceedsFromShortTermDebt.146561.384002" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromShortTermDebt.146561.384002" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromShortTermDebt.146561.384002">Proceeds from short-term bank debt</link:label>
    <link:loc xlink:label="loc_RestrictedCashAndInvestmentsAbstract.4606.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RestrictedCashAndInvestmentsAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RestrictedCashAndInvestmentsAbstract.4606.11.6" xlink:to="lab_RestrictedCashAndInvestmentsAbstract.15960.338820" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RestrictedCashAndInvestmentsAbstract.15960.338820" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RestrictedCashAndInvestmentsAbstract.15960.338820">Restricted Cash and Investments [Abstract]</link:label>
    <link:loc xlink:label="loc_RestrictedCashAndInvestmentsAbstract.4606.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RestrictedCashAndInvestmentsAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RestrictedCashAndInvestmentsAbstract.4606.11.7" xlink:to="lab_RestrictedCashAndInvestmentsAbstract.350797.338821" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RestrictedCashAndInvestmentsAbstract.350797.338821" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_RestrictedCashAndInvestmentsAbstract.350797.338821">Restricted cash</link:label>
    <link:loc xlink:label="loc_RevenueRecognitionAbstract.4665.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RevenueRecognitionAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RevenueRecognitionAbstract.4665.11.6" xlink:to="lab_RevenueRecognitionAbstract.16202.338822" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RevenueRecognitionAbstract.16202.338822" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RevenueRecognitionAbstract.16202.338822">Revenue Recognition [Abstract]</link:label>
    <link:loc xlink:label="loc_RevenueRecognitionAbstract.4665.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RevenueRecognitionAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RevenueRecognitionAbstract.4665.11.7" xlink:to="lab_RevenueRecognitionAbstract.350849.338823" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RevenueRecognitionAbstract.350849.338823" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_RevenueRecognitionAbstract.350849.338823">Revenue recognition</link:label>
    <link:loc xlink:label="loc_ShippingHandlingAndTransportationCosts.17063.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShippingHandlingAndTransportationCosts" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShippingHandlingAndTransportationCosts.17063.11.7" xlink:to="lab_ShippingHandlingAndTransportationCosts.143670.338827" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShippingHandlingAndTransportationCosts.143670.338827" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ShippingHandlingAndTransportationCosts.143670.338827">Shipping and handling costs</link:label>
    <link:loc xlink:label="loc_ShippingHandlingAndTransportationCosts.17063.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShippingHandlingAndTransportationCosts" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShippingHandlingAndTransportationCosts.17063.11.6" xlink:to="lab_ShippingHandlingAndTransportationCosts.17660.338826" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShippingHandlingAndTransportationCosts.17660.338826" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ShippingHandlingAndTransportationCosts.17660.338826">Shipping, Handling and Transportation Costs</link:label>
    <link:loc xlink:label="loc_ShortTermBorrowings.17069.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShortTermBorrowings" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShortTermBorrowings.17069.11.6" xlink:to="lab_ShortTermBorrowings.17676.338828" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShortTermBorrowings.17676.338828" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ShortTermBorrowings.17676.338828">Short-term Debt</link:label>
    <link:loc xlink:label="loc_ShortTermBorrowings.17069.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShortTermBorrowings" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShortTermBorrowings.17069.11.7" xlink:to="lab_ShortTermBorrowings.485553.338829" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShortTermBorrowings.485553.338829" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ShortTermBorrowings.485553.338829">Short-term bank borrowings</link:label>
    <link:loc xlink:label="loc_ShortTermLoanRenewals.40390.11.6" xlink:href="dq-20131231.xsd#dq_ShortTermLoanRenewals" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShortTermLoanRenewals.40390.11.6" xlink:to="lab_ShortTermLoanRenewals.350967.338830" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShortTermLoanRenewals.350967.338830" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ShortTermLoanRenewals.350967.338830">Short Term Loan Renewals</link:label>
    <link:loc xlink:label="loc_ShortTermLoanRenewals.40390.11.12" xlink:href="dq-20131231.xsd#dq_ShortTermLoanRenewals" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShortTermLoanRenewals.40390.11.12" xlink:to="lab_ShortTermLoanRenewals.350977.338832" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShortTermLoanRenewals.350977.338832" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_ShortTermLoanRenewals.350977.338832">Short Term Loan Renewals</link:label>
    <link:loc xlink:label="loc_ShortTermLoanRenewals.40390.11.7" xlink:href="dq-20131231.xsd#dq_ShortTermLoanRenewals" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShortTermLoanRenewals.40390.11.7" xlink:to="lab_ShortTermLoanRenewals.350978.338831" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ShortTermLoanRenewals.350978.338831" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ShortTermLoanRenewals.350978.338831">Short-term loan renewals</link:label>
    <link:loc xlink:label="loc_StockRepurchaseProgramAuthorizedAmount.17225.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockRepurchaseProgramAuthorizedAmount" xlink:type="locator" />
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    <link:label xlink:label="lab_StockRepurchaseProgramAuthorizedAmount.18626" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_StockRepurchaseProgramAuthorizedAmount.18626">Stock Repurchase Program, Authorized Amount</link:label>
    <link:loc xlink:label="loc_StockRepurchaseProgramAuthorizedAmount.17225.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockRepurchaseProgramAuthorizedAmount" xlink:type="locator" />
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    <link:label xlink:label="lab_StockRepurchaseProgramAuthorizedAmount.328785.390531" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_StockRepurchaseProgramAuthorizedAmount.328785.390531">Share repurchase program, authorized amount</link:label>
    <link:loc xlink:label="loc_AverageProductionCostOfPolysilicon.40375.11.7" xlink:href="dq-20131231.xsd#dq_AverageProductionCostOfPolysilicon" xlink:type="locator" />
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    <link:label xlink:label="lab_StringFive.384001" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_StringFive.384001">Average production cost of polysilicon</link:label>
    <link:loc xlink:label="loc_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract.5370.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract.5370.11.6" xlink:to="lab_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract.19376" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract.19376" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract.19376">Treasury Stock, Number of Shares and Restriction Disclosures [Abstract]</link:label>
    <link:loc xlink:label="loc_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract.5370.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract.5370.11.7" xlink:to="lab_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract7.243497.390530" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract7.243497.390530" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract7.243497.390530">Treasury Stock</link:label>
    <link:loc xlink:label="loc_TreasuryStockSharesAcquired.17705.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_TreasuryStockSharesAcquired" xlink:type="locator" />
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    <link:label xlink:label="lab_TreasuryStockSharesAcquired.1895509.524724.390532" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_TreasuryStockSharesAcquired.1895509.524724.390532">Number of shares repurchased</link:label>
    <link:loc xlink:label="loc_TreasuryStockValueAcquiredParValueMethod.17717.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_TreasuryStockValueAcquiredParValueMethod" xlink:type="locator" />
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    <link:label xlink:label="lab_TreasuryStockValueAcquiredParValueMethod.390533" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_TreasuryStockValueAcquiredParValueMethod.390533">Value of shares repurchased</link:label>
    <link:loc xlink:label="loc_UnrestrictedCashSubsidies.40397.11.6" xlink:href="dq-20131231.xsd#dq_UnrestrictedCashSubsidies" xlink:type="locator" />
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    <link:loc xlink:label="loc_UnrestrictedCashSubsidies.40397.11.12" xlink:href="dq-20131231.xsd#dq_UnrestrictedCashSubsidies" xlink:type="locator" />
    <link:labelArc xlink:from="loc_UnrestrictedCashSubsidies.40397.11.12" xlink:to="lab_UnrestrictedCashSubsidies.351023.338835" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_UnrestrictedCashSubsidies.351023.338835" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_UnrestrictedCashSubsidies.351023.338835">Unrestricted Cash Subsidies</link:label>
    <link:loc xlink:label="loc_UnrestrictedCashSubsidies.40397.11.7" xlink:href="dq-20131231.xsd#dq_UnrestrictedCashSubsidies" xlink:type="locator" />
    <link:labelArc xlink:from="loc_UnrestrictedCashSubsidies.40397.11.7" xlink:to="lab_UnrestrictedCashSubsidies.351026.338834" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_UnrestrictedCashSubsidies.351026.338834" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_UnrestrictedCashSubsidies.351026.338834">Unrestricted cash government subsidies</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations.13221.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations.13221.11.8" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations.421260.513535.339512" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations.421260.513535.339512" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations.421260.513535.339512">Cash flow from operations</link:label>
    <link:loc xlink:label="loc_WeightedAverageNumberOfSharesContingentlyIssuable.18023.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesContingentlyIssuable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_WeightedAverageNumberOfSharesContingentlyIssuable.18023.11.6" xlink:to="lab_WeightedAverageNumberOfSharesContingentlyIssuable.19203.338837" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_WeightedAverageNumberOfSharesContingentlyIssuable.19203.338837" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_WeightedAverageNumberOfSharesContingentlyIssuable.19203.338837">Weighted Average Number of Shares, Contingently Issuable</link:label>
    <link:loc xlink:label="loc_WeightedAverageNumberOfSharesContingentlyIssuable.18023.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesContingentlyIssuable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_WeightedAverageNumberOfSharesContingentlyIssuable.18023.11.7" xlink:to="lab_WeightedAverageNumberOfSharesContingentlyIssuable.350903.338838" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_WeightedAverageNumberOfSharesContingentlyIssuable.350903.338838" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_WeightedAverageNumberOfSharesContingentlyIssuable.350903.338838">Share options</link:label>
    <link:loc xlink:label="loc_WorkingCapital.40402.11.6" xlink:href="dq-20131231.xsd#dq_WorkingCapital" xlink:type="locator" />
    <link:labelArc xlink:from="loc_WorkingCapital.40402.11.6" xlink:to="lab_WorkingCapital.485542.338839" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_WorkingCapital.485542.338839" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_WorkingCapital.485542.338839">Working Capital</link:label>
    <link:loc xlink:label="loc_WorkingCapital.40402.11.12" xlink:href="dq-20131231.xsd#dq_WorkingCapital" xlink:type="locator" />
    <link:labelArc xlink:from="loc_WorkingCapital.40402.11.12" xlink:to="lab_WorkingCapital12.485550.338840" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_WorkingCapital12.485550.338840" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_WorkingCapital12.485550.338840">Working Capital.</link:label>
    <link:loc xlink:label="loc_WorkingCapital.40402.11.7" xlink:href="dq-20131231.xsd#dq_WorkingCapital" xlink:type="locator" />
    <link:labelArc xlink:from="loc_WorkingCapital.40402.11.7" xlink:to="lab_WorkingCapital7.485551.338841" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_WorkingCapital7.485551.338841" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_WorkingCapital7.485551.338841">Working capital</link:label>
    <link:loc xlink:label="loc_RestrictedCashAndCashEquivalents.15914.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalents" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RestrictedCashAndCashEquivalents.15914.11.6" xlink:to="us-gaap_RestrictedCashAndCashEquivalents_lbl.247779.338244" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_RestrictedCashAndCashEquivalents_lbl.247779.338244" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_RestrictedCashAndCashEquivalents_lbl.247779.338244">Restricted Cash And Cash Equivalents</link:label>
    <link:loc xlink:label="loc_RestrictedCashAndCashEquivalents.15914.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalents" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RestrictedCashAndCashEquivalents.15914.11.7" xlink:to="us-gaap_RestrictedCashAndCashEquivalents_lbl.247780.338245" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_RestrictedCashAndCashEquivalents_lbl.247780.338245" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_RestrictedCashAndCashEquivalents_lbl.247780.338245">Restricted cash</link:label>
    <link:loc xlink:label="loc_BasisOfAccountingPolicyPolicyTextBlock.6323.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_BasisOfAccountingPolicyPolicyTextBlock.6323.11.6" xlink:to="lab_BasisOfAccountingPolicyPolicyTextBlock.1458.338640" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_BasisOfAccountingPolicyPolicyTextBlock.1458.338640" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_BasisOfAccountingPolicyPolicyTextBlock.1458.338640">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_BasisOfAccountingPolicyPolicyTextBlock.6323.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_BasisOfAccountingPolicyPolicyTextBlock.6323.11.7" xlink:to="lab_BasisOfAccountingPolicyPolicyTextBlock7.248981.338641" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_BasisOfAccountingPolicyPolicyTextBlock7.248981.338641" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_BasisOfAccountingPolicyPolicyTextBlock7.248981.338641">Basis of presentation</link:label>
    <link:loc xlink:label="loc_CashAndCashEquivalentsPolicyTextBlock.6844.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashAndCashEquivalentsPolicyTextBlock.6844.11.6" xlink:to="lab_CashAndCashEquivalentsPolicyTextBlock.2212.338642" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashAndCashEquivalentsPolicyTextBlock.2212.338642" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CashAndCashEquivalentsPolicyTextBlock.2212.338642">Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_CashAndCashEquivalentsPolicyTextBlock.6844.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashAndCashEquivalentsPolicyTextBlock.6844.11.7" xlink:to="lab_CashAndCashEquivalentsPolicyTextBlock.248985.338643" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashAndCashEquivalentsPolicyTextBlock.248985.338643" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CashAndCashEquivalentsPolicyTextBlock.248985.338643">Cash and cash equivalents</link:label>
    <link:loc xlink:label="loc_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.6831.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.6831.11.6" xlink:to="lab_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.2199.338644" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.2199.338644" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.2199.338644">Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.6831.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.6831.11.7" xlink:to="lab_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.248986.338645" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.248986.338645" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.248986.338645">Restricted cash</link:label>
    <link:loc xlink:label="loc_ComprehensiveIncomePolicyPolicyTextBlock.7189.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ComprehensiveIncomePolicyPolicyTextBlock.7189.11.7" xlink:to="lab_ComprehensiveIncomePolicyPolicyTextBlock.249004.338647" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ComprehensiveIncomePolicyPolicyTextBlock.249004.338647" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ComprehensiveIncomePolicyPolicyTextBlock.249004.338647">Comprehensive income (loss)</link:label>
    <link:loc xlink:label="loc_ComprehensiveIncomePolicyPolicyTextBlock.7189.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ComprehensiveIncomePolicyPolicyTextBlock.7189.11.6" xlink:to="lab_ComprehensiveIncomePolicyPolicyTextBlock.2824.338646" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ComprehensiveIncomePolicyPolicyTextBlock.2824.338646" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ComprehensiveIncomePolicyPolicyTextBlock.2824.338646">Comprehensive Income, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_ConcentrationRiskCreditRisk.7208.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConcentrationRiskCreditRisk" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConcentrationRiskCreditRisk.7208.11.7" xlink:to="lab_ConcentrationRiskCreditRisk.248984.338649" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ConcentrationRiskCreditRisk.248984.338649" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ConcentrationRiskCreditRisk.248984.338649">Concentration of credit risk</link:label>
    <link:loc xlink:label="loc_ConcentrationRiskCreditRisk.7208.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConcentrationRiskCreditRisk" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConcentrationRiskCreditRisk.7208.11.6" xlink:to="lab_ConcentrationRiskCreditRisk.2862.338648" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ConcentrationRiskCreditRisk.2862.338648" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ConcentrationRiskCreditRisk.2862.338648">Concentration Risk, Credit Risk, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_ConsolidationPolicyTextBlock.7232.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConsolidationPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConsolidationPolicyTextBlock.7232.11.7" xlink:to="lab_ConsolidationPolicyTextBlock.248982.338651" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ConsolidationPolicyTextBlock.248982.338651" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ConsolidationPolicyTextBlock.248982.338651">Basis of consolidation</link:label>
    <link:loc xlink:label="loc_ConsolidationPolicyTextBlock.7232.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConsolidationPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConsolidationPolicyTextBlock.7232.11.6" xlink:to="lab_ConsolidationPolicyTextBlock.2902.338650" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ConsolidationPolicyTextBlock.2902.338650" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ConsolidationPolicyTextBlock.2902.338650">Consolidation, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy.7240.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy.7240.11.6" xlink:to="lab_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy.3028" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy.3028" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy.3028">Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy.7240.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy.7240.11.7" xlink:to="lab_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy.339505" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy.339505" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy.339505">Noncontrolling interest</link:label>
    <link:loc xlink:label="loc_ConsolidationVariableInterestEntityPolicy.7239.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConsolidationVariableInterestEntityPolicy" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConsolidationVariableInterestEntityPolicy.7239.11.7" xlink:to="lab_ConsolidationVariableInterestEntityPolicy.249007.338653" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ConsolidationVariableInterestEntityPolicy.249007.338653" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ConsolidationVariableInterestEntityPolicy.249007.338653">Variable Interest Entity</link:label>
    <link:loc xlink:label="loc_ConsolidationVariableInterestEntityPolicy.7239.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConsolidationVariableInterestEntityPolicy" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConsolidationVariableInterestEntityPolicy.7239.11.6" xlink:to="lab_ConsolidationVariableInterestEntityPolicy.2905.338652" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ConsolidationVariableInterestEntityPolicy.2905.338652" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ConsolidationVariableInterestEntityPolicy.2905.338652">Consolidation, Variable Interest Entity, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_CostOfSalesPolicyTextBlock.7407.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CostOfSalesPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CostOfSalesPolicyTextBlock.7407.11.7" xlink:to="lab_CostOfSalesPolicyTextBlock.248992.338655" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CostOfSalesPolicyTextBlock.248992.338655" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CostOfSalesPolicyTextBlock.248992.338655">Cost of revenues</link:label>
    <link:loc xlink:label="loc_CostOfSalesPolicyTextBlock.7407.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CostOfSalesPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CostOfSalesPolicyTextBlock.7407.11.6" xlink:to="lab_CostOfSalesPolicyTextBlock.3190.338654" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CostOfSalesPolicyTextBlock.3190.338654" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CostOfSalesPolicyTextBlock.3190.338654">Cost of Sales, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_EarningsPerSharePolicyTextBlock.9080.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EarningsPerSharePolicyTextBlock.9080.11.7" xlink:to="lab_EarningsPerSharePolicyTextBlock.249001.338657" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EarningsPerSharePolicyTextBlock.249001.338657" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_EarningsPerSharePolicyTextBlock.249001.338657">Earnings (loss) per share</link:label>
    <link:loc xlink:label="loc_EarningsPerSharePolicyTextBlock.9080.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EarningsPerSharePolicyTextBlock.9080.11.6" xlink:to="lab_EarningsPerSharePolicyTextBlock.5427.338656" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EarningsPerSharePolicyTextBlock.5427.338656" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_EarningsPerSharePolicyTextBlock.5427.338656">Earnings Per Share, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_FairValueOfFinancialInstrumentsPolicy.9724.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueOfFinancialInstrumentsPolicy.9724.11.7" xlink:to="lab_FairValueOfFinancialInstrumentsPolicy.249005.338659" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueOfFinancialInstrumentsPolicy.249005.338659" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_FairValueOfFinancialInstrumentsPolicy.249005.338659">Fair value of financial instruments</link:label>
    <link:loc xlink:label="loc_FairValueOfFinancialInstrumentsPolicy.9724.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueOfFinancialInstrumentsPolicy.9724.11.6" xlink:to="lab_FairValueOfFinancialInstrumentsPolicy.6451.338658" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueOfFinancialInstrumentsPolicy.6451.338658" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FairValueOfFinancialInstrumentsPolicy.6451.338658">Fair Value of Financial Instruments, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock.10380.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock.10380.11.7" xlink:to="lab_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock.249003.338661" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock.249003.338661" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock.249003.338661">Foreign currency translation</link:label>
    <link:loc xlink:label="loc_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock.10380.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock.10380.11.6" xlink:to="lab_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock.7448.338660" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock.7448.338660" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock.7448.338660">Foreign Currency Transactions and Translations Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock.10759.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock.10759.11.7" xlink:to="lab_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock.248997.338663" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock.248997.338663" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock.248997.338663">Government subsidies</link:label>
    <link:loc xlink:label="loc_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock.10759.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock.10759.11.6" xlink:to="lab_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock.7962.338662" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock.7962.338662" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock.7962.338662">Government Contractors, Revenue Recognition, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock.11014.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock.11014.11.7" xlink:to="lab_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock.248990.338665" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock.248990.338665" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock.248990.338665">Impairment of long-lived assets</link:label>
    <link:loc xlink:label="loc_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock.11014.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock.11014.11.6" xlink:to="lab_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock.8351.338664" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock.8351.338664" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock.8351.338664">Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_IncomeTaxPolicyTextBlock.11196.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncomeTaxPolicyTextBlock.11196.11.7" xlink:to="lab_IncomeTaxPolicyTextBlock.248998.338667" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncomeTaxPolicyTextBlock.248998.338667" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncomeTaxPolicyTextBlock.248998.338667">Income taxes</link:label>
    <link:loc xlink:label="loc_IncomeTaxPolicyTextBlock.11196.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncomeTaxPolicyTextBlock.11196.11.6" xlink:to="lab_IncomeTaxPolicyTextBlock.8637.338666" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncomeTaxPolicyTextBlock.8637.338666" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_IncomeTaxPolicyTextBlock.8637.338666">Income Tax, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_InventoryPolicyTextBlock.11866.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InventoryPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InventoryPolicyTextBlock.11866.11.7" xlink:to="lab_InventoryPolicyTextBlock.248987.338669" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_InventoryPolicyTextBlock.248987.338669" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_InventoryPolicyTextBlock.248987.338669">Inventories</link:label>
    <link:loc xlink:label="loc_InventoryPolicyTextBlock.11866.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InventoryPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InventoryPolicyTextBlock.11866.11.6" xlink:to="lab_InventoryPolicyTextBlock.9568.338668" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_InventoryPolicyTextBlock.9568.338668" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_InventoryPolicyTextBlock.9568.338668">Inventory, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_NewAccountingPronouncementsPolicyPolicyTextBlock.13302.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NewAccountingPronouncementsPolicyPolicyTextBlock.13302.11.6" xlink:to="lab_NewAccountingPronouncementsPolicyPolicyTextBlock.11883.338670" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NewAccountingPronouncementsPolicyPolicyTextBlock.11883.338670" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_NewAccountingPronouncementsPolicyPolicyTextBlock.11883.338670">New Accounting Pronouncements, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_NewAccountingPronouncementsPolicyPolicyTextBlock.13302.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NewAccountingPronouncementsPolicyPolicyTextBlock.13302.11.7" xlink:to="lab_NewAccountingPronouncementsPolicyPolicyTextBlock.249017.338671" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NewAccountingPronouncementsPolicyPolicyTextBlock.249017.338671" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_NewAccountingPronouncementsPolicyPolicyTextBlock.249017.338671">Recent accounting pronouncements</link:label>
    <link:loc xlink:label="loc_PrepaidLandUseRightsPolicyTextBlock.40365.11.6" xlink:href="dq-20131231.xsd#dq_PrepaidLandUseRightsPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PrepaidLandUseRightsPolicyTextBlock.40365.11.6" xlink:to="lab_PrepaidLandUseRightsPolicyTextBlock.367615.338675" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PrepaidLandUseRightsPolicyTextBlock.367615.338675" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PrepaidLandUseRightsPolicyTextBlock.367615.338675">Prepaid Land Use Rights [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_PrepaidLandUseRightsPolicyTextBlock.40365.11.12" xlink:href="dq-20131231.xsd#dq_PrepaidLandUseRightsPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PrepaidLandUseRightsPolicyTextBlock.40365.11.12" xlink:to="lab_PrepaidLandUseRightsPolicyTextBlock.367616.338677" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PrepaidLandUseRightsPolicyTextBlock.367616.338677" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_PrepaidLandUseRightsPolicyTextBlock.367616.338677">Prepaid Land Use Rights Policy Text Block.</link:label>
    <link:loc xlink:label="loc_PrepaidLandUseRightsPolicyTextBlock.40365.11.7" xlink:href="dq-20131231.xsd#dq_PrepaidLandUseRightsPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PrepaidLandUseRightsPolicyTextBlock.40365.11.7" xlink:to="lab_PrepaidLandUseRightsPolicyTextBlock.367617.338676" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PrepaidLandUseRightsPolicyTextBlock.367617.338676" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PrepaidLandUseRightsPolicyTextBlock.367617.338676">Prepaid land use rights</link:label>
    <link:loc xlink:label="loc_PropertyPlantAndEquipmentPolicyTextBlock.15209.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PropertyPlantAndEquipmentPolicyTextBlock.15209.11.6" xlink:to="lab_PropertyPlantAndEquipmentPolicyTextBlock.14908.338678" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PropertyPlantAndEquipmentPolicyTextBlock.14908.338678" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentPolicyTextBlock.14908.338678">Property, Plant and Equipment, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_PropertyPlantAndEquipmentPolicyTextBlock.15209.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PropertyPlantAndEquipmentPolicyTextBlock.15209.11.7" xlink:to="lab_PropertyPlantAndEquipmentPolicyTextBlock.248988.338679" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PropertyPlantAndEquipmentPolicyTextBlock.248988.338679" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentPolicyTextBlock.248988.338679">Property, plant and equipment</link:label>
    <link:loc xlink:label="loc_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy.15557.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy.15557.11.6" xlink:to="lab_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy.15985" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy.15985" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy.15985">Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy.15557.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy.15557.11.7" xlink:to="lab_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy.395507" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy.395507" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy.395507">Allowance for Doubtful Accounts</link:label>
    <link:loc xlink:label="loc_ResearchAndDevelopmentExpensePolicy.15888.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ResearchAndDevelopmentExpensePolicy" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ResearchAndDevelopmentExpensePolicy.15888.11.6" xlink:to="lab_ResearchAndDevelopmentExpensePolicy.15898.338680" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ResearchAndDevelopmentExpensePolicy.15898.338680" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ResearchAndDevelopmentExpensePolicy.15898.338680">Research and Development Expense, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_ResearchAndDevelopmentExpensePolicy.15888.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ResearchAndDevelopmentExpensePolicy" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ResearchAndDevelopmentExpensePolicy.15888.11.7" xlink:to="lab_ResearchAndDevelopmentExpensePolicy.248994.338681" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ResearchAndDevelopmentExpensePolicy.248994.338681" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ResearchAndDevelopmentExpensePolicy.248994.338681">Research and development expenses</link:label>
    <link:loc xlink:label="loc_RevenueRecognitionPolicyTextBlock.16088.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RevenueRecognitionPolicyTextBlock" xlink:type="locator" />
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    <link:label xlink:label="lab_RevenueRecognitionPolicyTextBlock.16231.338682" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RevenueRecognitionPolicyTextBlock.16231.338682">Revenue Recognition, Policy [Policy Text Block]</link:label>
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    <link:label xlink:label="lab_ShareBasedCompensationOptionAndIncentivePlansPolicy.248999.338685" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ShareBasedCompensationOptionAndIncentivePlansPolicy.248999.338685">Share-based compensation</link:label>
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    <link:loc xlink:label="loc_ShippingAndHandlingCostPolicyTextBlock.17065.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShippingAndHandlingCostPolicyTextBlock" xlink:type="locator" />
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    <link:label xlink:label="lab_ShippingAndHandlingCostPolicyTextBlock.248993.338687" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ShippingAndHandlingCostPolicyTextBlock.248993.338687">Shipping and handling</link:label>
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    <link:label xlink:label="lab_StockholdersEquityPolicyTextBlock.145810.390528" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_StockholdersEquityPolicyTextBlock.145810.390528">Treasury Stock</link:label>
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    <link:loc xlink:label="loc_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock.16578.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock.16578.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock.16476.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock.16476.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_Assets.6057.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Assets" xlink:type="locator" />
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    <link:loc xlink:label="loc_Cash.6827.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Cash" xlink:type="locator" />
    <link:labelArc xlink:from="loc_Cash.6827.11.6" xlink:to="lab_Cash.2174.339167" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:labelArc xlink:from="loc_Cash.6827.11.7" xlink:to="lab_Cash.482793.339168" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:label xlink:label="lab_Liabilities.354855.339169" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_Liabilities.354855.339169">Total Liabilities</link:label>
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    <link:label xlink:label="lab_NetIncomeLoss.489003.339171" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_NetIncomeLoss.489003.339171">Net income (loss)</link:label>
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    <link:labelArc xlink:from="loc_OperatingCostsAndExpenses.13608.11.6" xlink:to="lab_OperatingCostsAndExpenses.12391.339172" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OperatingCostsAndExpenses.12391.339172" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OperatingCostsAndExpenses.12391.339172">Operating Costs and Expenses</link:label>
    <link:loc xlink:label="loc_OperatingCostsAndExpenses.13608.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingCostsAndExpenses" xlink:type="locator" />
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    <link:label xlink:label="lab_OperatingCostsAndExpenses.354853.339173" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OperatingCostsAndExpenses.354853.339173">Operating costs and expenses</link:label>
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    <link:label xlink:label="lab_PropertyPlantAndEquipmentNet.559566.387265" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentNet.559566.387265">Property, plant and equipment</link:label>
    <link:loc xlink:label="loc_ScheduleOfVariableInterestEntitiesTable.4914.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfVariableInterestEntitiesTable.4914.11.6" xlink:to="lab_ScheduleOfVariableInterestEntitiesTable.16977.339175" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfVariableInterestEntitiesTable.16977.339175" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfVariableInterestEntitiesTable.16977.339175">Schedule of Variable Interest Entities [Table]</link:label>
    <link:loc xlink:label="loc_VariableInterestEntityLineItems.5544.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_VariableInterestEntityLineItems" xlink:type="locator" />
    <link:labelArc xlink:from="loc_VariableInterestEntityLineItems.5544.11.6" xlink:to="lab_VariableInterestEntityLineItems.19097.339176" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_VariableInterestEntityLineItems.19097.339176" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_VariableInterestEntityLineItems.19097.339176">Variable Interest Entity [Line Items]</link:label>
    <link:loc xlink:label="loc_Revenues.16160.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Revenues" xlink:type="locator" />
    <link:labelArc xlink:from="loc_Revenues.16160.11.7" xlink:to="us-gaap_Revenues_lbl.247786.339177" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_Revenues_lbl.247786.339177" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_Revenues_lbl.247786.339177">Revenues</link:label>
    <link:loc xlink:label="loc_VariableInterestEntityPrimaryBeneficiaryMember.5532.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_VariableInterestEntityPrimaryBeneficiaryMember.5532.11.6" xlink:to="us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_lbl.247856.338284" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_lbl.247856.338284" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_lbl.247856.338284">Variable Interest Entity Primary Beneficiary [Member]</link:label>
    <link:loc xlink:label="loc_ScheduleOfVariableInterestEntitiesTextBlock.16576.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfVariableInterestEntitiesTextBlock.16576.11.6" xlink:to="lab_ScheduleOfVariableInterestEntitiesTextBlock.16936.338745" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfVariableInterestEntitiesTextBlock.16936.338745" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfVariableInterestEntitiesTextBlock.16936.338745">Schedule of Variable Interest Entities [Table Text Block]</link:label>
    <link:loc xlink:label="loc_ScheduleOfVariableInterestEntitiesTextBlock.16576.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfVariableInterestEntitiesTextBlock.16576.11.7" xlink:to="lab_ScheduleOfVariableInterestEntitiesTextBlock.249132.338746" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfVariableInterestEntitiesTextBlock.249132.338746" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfVariableInterestEntitiesTextBlock.249132.338746">Schedule of Variable Interest Entities Financial Information</link:label>
    <link:loc xlink:label="loc_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment.5779.11.57" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment.5779.11.57" xlink:to="lab_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment.247914.339523" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment.247914.339523" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US" id="lab_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment.247914.339523">Less: Accumulated depreciation</link:label>
    <link:loc xlink:label="loc_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment.5779.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment.5779.11.6" xlink:to="lab_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment.627.338860" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment.627.338860" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment.627.338860">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment</link:label>
    <link:loc xlink:label="loc_BuildingMember.743.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_BuildingMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_BuildingMember.743.11.6" xlink:to="lab_BuildingMember.350943.338762" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_BuildingMember.350943.338762" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_BuildingMember.350943.338762">Buildings and plant [Member]</link:label>
    <link:loc xlink:label="loc_ConstructionInProgressMember.1170.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConstructionInProgressMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConstructionInProgressMember.1170.11.6" xlink:to="lab_ConstructionInProgressMember.339526" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ConstructionInProgressMember.339526" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ConstructionInProgressMember.339526">Construction in process [Member]</link:label>
    <link:loc xlink:label="loc_DepreciableAssetsMember.1540.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DepreciableAssetsMember" xlink:type="locator" />
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    <link:label xlink:label="lab_DepreciableAssetsMember.4669" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DepreciableAssetsMember.4669">Depreciable Assets [Member]</link:label>
    <link:loc xlink:label="loc_FurnitureAndFixturesMember.2394.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FurnitureAndFixturesMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FurnitureAndFixturesMember.2394.11.6" xlink:to="lab_FurnitureAndFixturesMember.350949.338778" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FurnitureAndFixturesMember.350949.338778" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FurnitureAndFixturesMember.350949.338778">Furniture, fixtures and equipment [Member]</link:label>
    <link:loc xlink:label="loc_MachineryAndEquipmentMember.3309.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_MachineryAndEquipmentMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_MachineryAndEquipmentMember.3309.11.6" xlink:to="lab_MachineryAndEquipmentMember.350947.338801" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_MachineryAndEquipmentMember.350947.338801" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_MachineryAndEquipmentMember.350947.338801">Machinery and equipment [Member]</link:label>
    <link:loc xlink:label="loc_PropertyPlantAndEquipmentAbstract.4266.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:type="locator" />
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    <link:label xlink:label="lab_PropertyPlantAndEquipmentAbstract.275904.339515" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentAbstract.275904.339515">PROPERTY AND EQUIPMENT, NET [Abstract]</link:label>
    <link:loc xlink:label="loc_PropertyPlantAndEquipmentByTypeAxis.4272.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:type="locator" />
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    <link:label xlink:label="lab_PropertyPlantAndEquipmentByTypeAxis.14927.338811" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentByTypeAxis.14927.338811">Property, Plant and Equipment, Type [Axis]</link:label>
    <link:loc xlink:label="loc_PropertyPlantAndEquipmentGross.15204.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:type="locator" />
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    <link:label xlink:label="lab_PropertyPlantAndEquipmentGross.15399" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentGross.15399">Property, Plant and Equipment, Gross</link:label>
    <link:loc xlink:label="loc_PropertyPlantAndEquipmentGross.15204.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:type="locator" />
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    <link:label xlink:label="lab_PropertyPlantAndEquipmentGross.247913.339522" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentGross.247913.339522">Cost</link:label>
    <link:loc xlink:label="loc_PropertyPlantAndEquipmentLineItems.4280.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:type="locator" />
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    <link:label xlink:label="lab_PropertyPlantAndEquipmentLineItems.14919.339524" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentLineItems.14919.339524">Property, Plant and Equipment [Line Items]</link:label>
    <link:loc xlink:label="loc_PropertyPlantAndEquipmentNet.15211.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:type="locator" />
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    <link:label xlink:label="lab_PropertyPlantAndEquipmentTypeDomain.14865.338816" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentTypeDomain.14865.338816">Property, Plant and Equipment, Type [Domain]</link:label>
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    <link:label xlink:label="lab_VehiclesMember.350950.338836" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_VehiclesMember.350950.338836">Motor vehicles [Member]</link:label>
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    <link:labelArc xlink:from="loc_AccountsReceivableNetCurrent.5665.11.8" xlink:to="lab_AccountsReceivableNetCurrent8.489052.338755" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AccountsReceivableNetCurrent8.489052.338755" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_AccountsReceivableNetCurrent8.489052.338755">Accounts receivable</link:label>
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    <link:label xlink:label="lab_ConcentrationRiskBenchmarkDomain.2973" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ConcentrationRiskBenchmarkDomain.2973">Concentration Risk Benchmark [Domain]</link:label>
    <link:loc xlink:label="loc_ConcentrationRiskByBenchmarkAxis.1143.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConcentrationRiskByBenchmarkAxis.1143.11.6" xlink:to="lab_ConcentrationRiskByBenchmarkAxis.2982" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ConcentrationRiskByBenchmarkAxis.2982" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ConcentrationRiskByBenchmarkAxis.2982">Concentration Risk Benchmark [Axis]</link:label>
    <link:loc xlink:label="loc_ConcentrationRiskLineItems.1138.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConcentrationRiskLineItems" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConcentrationRiskLineItems.1138.11.6" xlink:to="lab_ConcentrationRiskLineItems.2971" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ConcentrationRiskPercentage1.7224.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConcentrationRiskPercentage1.7224.11.6" xlink:to="lab_ConcentrationRiskPercentage1.2995" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ConcentrationRiskPercentage1.2995" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ConcentrationRiskPercentage1.2995">Concentration Risk, Percentage</link:label>
    <link:loc xlink:label="loc_ConcentrationRiskPercentage1.7224.11.8" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConcentrationRiskPercentage1.7224.11.8" xlink:to="lab_ConcentrationRiskPercentage1.339513" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ConcentrationRiskPercentage1.339513" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ConcentrationRiskPercentage1.339513">Concentration risk, percentage</link:label>
    <link:loc xlink:label="loc_ConcentrationRiskTable.1141.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConcentrationRiskTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ConcentrationRiskTable.1141.11.6" xlink:to="lab_ConcentrationRiskTable.2978" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ConcentrationRiskTable.2978" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ConcentrationRiskTable.2978">Concentration Risk [Table]</link:label>
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    <link:labelArc xlink:from="loc_CustomerBMember.40310.11.7" xlink:to="lab_CustomerBMember.387147" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerBMember.387147" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CustomerBMember.387147">Customer B [Member]</link:label>
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    <link:labelArc xlink:from="loc_CustomerHMember.40316.11.6" xlink:to="lab_CustomerHMember.350817.338765" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerHMember.350817.338765" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CustomerHMember.350817.338765">Customer H [Member]</link:label>
    <link:loc xlink:label="loc_CustomerHMember.40316.11.12" xlink:href="dq-20131231.xsd#dq_CustomerHMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerHMember.40316.11.12" xlink:to="lab_CustomerHMember.350818.338766" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerHMember.350818.338766" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_CustomerHMember.350818.338766">Customer H Member</link:label>
    <link:loc xlink:label="loc_CustomerKMember.40352.11.6" xlink:href="dq-20131231.xsd#dq_CustomerKMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CustomerKMember.40352.11.6" xlink:to="lab_CustomerKMember.338672" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CustomerKMember.338672" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CustomerKMember.338672">Customer K [Member]</link:label>
    <link:loc xlink:label="loc_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract.2099.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract.2099.11.7" xlink:to="lab_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract.350804.338775" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract.2099.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract.2099.11.6" xlink:to="lab_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract.6510.338774" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_SalesMember.4742.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SalesMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SalesMember.4742.11.6" xlink:to="lab_SalesMember.17127" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_SalesMember.17127" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_SalesMember.17127">Sales [Member]</link:label>
    <link:loc xlink:label="loc_InterestCostsCapitalized.11662.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestCostsCapitalized" xlink:type="locator" />
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    <link:loc xlink:label="loc_InterestCostsCapitalized.11662.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestCostsCapitalized" xlink:type="locator" />
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    <link:loc xlink:label="loc_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract.4263.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract.4263.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract.4263.11.7" xlink:to="lab_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract.350836.338815" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract.350836.338815" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract.350836.338815">Property, plant and equipment</link:label>
    <link:loc xlink:label="loc_PropertyPlantAndEquipmentUsefulLife.15201.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:type="locator" />
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    <link:label xlink:label="lab_PropertyPlantAndEquipmentUsefulLife.14857.338817" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentUsefulLife.14857.338817">Property, Plant and Equipment, Useful Life</link:label>
    <link:loc xlink:label="loc_PropertyPlantAndEquipmentUsefulLife.15201.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:type="locator" />
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    <link:label xlink:label="lab_PropertyPlantAndEquipmentUsefulLife.364546.338818" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentUsefulLife.364546.338818">Estimated useful lives</link:label>
    <link:loc xlink:label="loc_CostOfSalesMember.1254.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CostOfSalesMember" xlink:type="locator" />
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    <link:label xlink:label="lab_CostOfSalesMember.350958.338764" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CostOfSalesMember.350958.338764">Cost of sales [Member]</link:label>
    <link:loc xlink:label="loc_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems.1805.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems" xlink:type="locator" />
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    <link:loc xlink:label="loc_IncomeStatementLocationAxis.2652.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:type="locator" />
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    <link:label xlink:label="lab_IncomeStatementLocationAxis.8446.339562" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_IncomeStatementLocationAxis.8446.339562">Income Statement Location [Axis]</link:label>
    <link:loc xlink:label="loc_IncomeStatementLocationDomain.2671.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:type="locator" />
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    <link:label xlink:label="lab_IncomeStatementLocationDomain.8503.339563" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_IncomeStatementLocationDomain.8503.339563">Income Statement Location [Domain]</link:label>
    <link:loc xlink:label="loc_ResearchAndDevelopmentExpenseMember.4573.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ResearchAndDevelopmentExpenseMember" xlink:type="locator" />
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    <link:loc xlink:label="loc_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable.4815.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xlink:type="locator" />
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<TYPE>EX-101.PRE
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E2F">
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          <div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>FAIR VALUE MEASUREMENTS [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByBalanceSheetGroupingTextBlock', window );">Schedule of Financial Instruments for which Fair Value Does not Approximate Carrying Value</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The following table presents the financial instruments for which fair value does not approximate carrying value as of December&nbsp;31, 2012 and 2013:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap">As&nbsp;of&nbsp;December&nbsp;31,&nbsp;2012</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap">As&nbsp;of&nbsp;December&nbsp;31,&nbsp;2013</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Carrying&nbsp;Value</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Fair&nbsp;Value</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Carrying<br /> Value</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Fair&nbsp;Value</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 48%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Long-term bank borrowing</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">187,520,880</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">166,148,388</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">134,870,287</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">124,047,823</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Payables for purchase of property, plant and equipment</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">1,126,255</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">1,014,716</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock', window );">Schedule of Nonrecurring Fair Value Measurements</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The following table displays assets and liabilities that were measured at fair value on a non-recurring basis after initial recognition;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.2in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18">Year&nbsp;ended&nbsp;December&nbsp;31,&nbsp;2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold"> Description</td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> <p style="MARGIN: 0pt 0px">Carrying<br /> amount</p> </td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Quoted&nbsp;Prices&nbsp;in<br /> Active&nbsp;Markets<br /> for&nbsp;Identical<br /> Assets&nbsp;(Level&nbsp;1)</td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Significant<br /> Other<br /> Observable<br /> Inputs&nbsp;(Level&nbsp;2)</td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Significant<br /> Unobservable<br /> Inputs&nbsp;(Level&nbsp;3)</td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Total&nbsp;Losses</td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-FAMILY: Times New Roman, Times, Serif; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9.5pt; TEXT-ALIGN: left; TEXT-INDENT: -9.5pt; WIDTH: 35%"> Long-lived assets held and used</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"> 53,287,118</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> <font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> &nbsp;</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> <font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"> -</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> <font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"> 10,532,637</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> <font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"> 42,754,481</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> <font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 21.3pt"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.2in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: center">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18">Year&nbsp;ended&nbsp;December&nbsp;31,&nbsp;2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> Description</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> <p style="MARGIN: 0pt 0px">Carrying<br /> amount</p> </td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> Quoted&nbsp;Prices&nbsp;in<br /> Active&nbsp;Markets<br /> for&nbsp;Identical<br /> Assets&nbsp;(Level&nbsp;1)</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> Significant<br /> Other<br /> Observable<br /> Inputs&nbsp;(Level&nbsp;2)</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> Significant<br /> Unobservable<br /> Inputs&nbsp;(Level&nbsp;3)</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> Total&nbsp;Losses</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 35%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 0in"> Long-lived assets held and used</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 307,942,362</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> &nbsp;</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 149,517,535</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 158,424,827</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=25499696&amp;loc=d3e19296-110258<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=25499696&amp;loc=d3e19207-110258<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13433-108611<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13467-108611<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13476-108611<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 30<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14172-108612<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6447952&amp;loc=d3e13220-108610<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E2LAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>INVENTORIES (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
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      <tr>
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          <div>Dec. 31, 2013</div>
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        <th class="th">
          <div>Dec. 31, 2012</div>
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          <div>Dec. 31, 2011</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryRawMaterials', window );">Raw materials</a></td>
        <td class="nump">$ 2,084,050<span></span></td>
        <td class="nump">$ 976,374<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryWorkInProcess', window );">Work-in-process</a></td>
        <td class="nump">4,666,821<span></span></td>
        <td class="nump">5,759,153<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryFinishedGoods', window );">Finished goods</a></td>
        <td class="nump">3,749,385<span></span></td>
        <td class="nump">8,399,995<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">10,500,256<span></span></td>
        <td class="nump">15,135,522<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryWriteDown', window );">Inventory write-down</a></td>
        <td class="nump">$ 29,905,734<span></span></td>
        <td class="nump">$ 14,821,620<span></span></td>
        <td class="nump">$ 14,252,701<span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before valuation and LIFO reserves of completed merchandise or goods expected to be sold within one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6(a)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryFinishedGoods</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -Section 35<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386567&amp;loc=d3e3927-108312<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before valuation and LIFO reserves of raw materials expected to be sold, or consumed within one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6(a)(4))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryRawMaterials</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryWorkInProcess">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before valuation and LIFO reserves of merchandise or goods in the production process expected to be completed within one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6(a)(3))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryWorkInProcess</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td>xbrli:monetaryItemType</td>
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                    <td>debit</td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Charge to cost of goods sold that represents the reduction of the carrying amount of inventory, generally attributable to obsolescence or market conditions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4542-108314<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryWriteDown</nobr></td>
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                    <td>duration</td>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EIJAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Concentration of Credit Risk) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="5">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th" colspan="2">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th" colspan="2">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract', window );"><strong>Concentration of credit risk</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Accounts receivable, allowance for doubtful accounts</a></td>
        <td class="nump">$ 7,160,782<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 1,592,467<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable</a></td>
        <td class="nump">9,909,662<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">27,822,799<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Sales [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract', window );"><strong>Concentration of credit risk</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk, percentage</a></td>
        <td class="nump">30.00%<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">25.00%<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">50.00%<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Customer A [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract', window );"><strong>Concentration of credit risk</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="nump">12,529,889<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Customer C [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract', window );"><strong>Concentration of credit risk</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable</a></td>
        <td class="nump">1,225,831<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">3,568,910<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Customer D [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract', window );"><strong>Concentration of credit risk</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable</a></td>
        <td class="nump">3,673,455<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Customer K [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract', window );"><strong>Concentration of credit risk</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable</a></td>
        <td class="nump">$ 1,507,576<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr>
        <td colspan="6"></td>
      </tr>
      <tr>
        <td colspan="6">
          <table class="outerFootnotes" width="100%">
            <tr class="outerFootnote">
              <td style="vertical-align: top;" valign="top">[1]</td>
              <td style="vertical-align: top;" valign="top">Represents less than 10% </td>
            </tr>
          </table>
        </td>
      </tr>
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                <p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p>
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                <p>A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 4<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28368275&amp;loc=d3e5074-111524<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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                <p>For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13537-108611<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6404-108592<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13531-108611<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 18<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6351-108592<br><br><br><br></p>
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<html>
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    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EKFAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>SHARE BASED COMPENSATION (Schedule of Assumptions Used with Binomial Option Valuation Model) (Details) (Employee Stock Option [Member])<br></strong></div>
        </th>
        <th class="th" colspan="4">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Options Granted January 9, 2012 [Member]</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Options Granted January 9, 2012 [Member]

</div>
          <div>Minimum [Member]</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Options Granted January 9, 2012 [Member]

</div>
          <div>Maximum [Member]</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Options Granted April 3, 2013 [Member]</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Average risk-free rate of return</a></td>
        <td class="nump">2.05%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2.29%<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_BinomialOptionPricingModelExerciseMultiple', window );">Exercise multiple</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2.2<span></span></td>
        <td class="nump">3.0<span></span></td>
        <td class="nump">2.8<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Volatility rate</a></td>
        <td class="nump">58.70%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">51.78%<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate', window );">Dividend yield</a></td>
        <td class="nump">0.00%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">0.00%<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_BinomialOptionPricingModelPostVestingForfeitureRate', window );">Post-vesting forfeiture rate</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">3.00%<span></span></td>
        <td class="nump">9.50%<span></span></td>
        <td class="nump">3.00%<span></span></td>
      </tr>
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    <div style="display: none;">
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Binomial Option Pricing Model, Exercise Multiple.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_BinomialOptionPricingModelPostVestingForfeitureRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Binomial Option Pricing Model Post Vesting Forfeiture Rate.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (f)(2)(iii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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                <p>The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (f)(2)(ii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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                <p>The risk-free interest rate assumption that is used in valuing an option on its own shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (f)(2)(iv)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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  <head>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EDYAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>PROPERTY, PLANT AND EQUIPMENT, NET (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Total</a></td>
        <td class="nump">$ 488,504,183<span></span></td>
        <td class="nump">$ 677,895,274<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Depreciation', window );">Depreciation of property, plant and equipment</a></td>
        <td class="nump">52,250,595<span></span></td>
        <td class="nump">37,371,791<span></span></td>
        <td class="nump">35,479,645<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Long-lived asset impairment</a></td>
        <td class="nump">158,424,827<span></span></td>
        <td class="nump">42,754,481<span></span></td>
        <td class="nump">38,512,376<span></span></td>
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      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Buildings and plant [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Cost</a></td>
        <td class="nump">235,690,310<span></span></td>
        <td class="nump">437,805,571<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Machinery and equipment [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Cost</a></td>
        <td class="nump">355,429,034<span></span></td>
        <td class="nump">344,782,948<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Furniture, fixtures and equipment [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Cost</a></td>
        <td class="nump">21,329,752<span></span></td>
        <td class="nump">9,233,575<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
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          <div class="a">Motor vehicles [Member]</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Cost</a></td>
        <td class="nump">262,562<span></span></td>
        <td class="nump">519,923<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Depreciable Assets [Member]</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Less: Accumulated depreciation</a></td>
        <td class="num">(145,031,744)<span></span></td>
        <td class="num">(133,746,851)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Total</a></td>
        <td class="nump">467,679,944<span></span></td>
        <td class="nump">658,595,166<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
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          <div class="a">Construction in process [Member]</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Cost</a></td>
        <td class="nump">$ 20,824,239<span></span></td>
        <td class="nump">$ 19,300,108<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.14)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 14<br><br> -Article 5<br><br><br><br></p>
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                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</nobr></td>
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                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=8077374&amp;loc=d3e2420-110228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetImpairmentCharges</nobr></td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Depreciation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Depreciation</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentGross">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.13)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PropertyPlantAndEquipmentGross</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
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            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PropertyPlantAndEquipmentLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.13)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 13<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 8<br><br> -Article 7<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PropertyPlantAndEquipmentNet</nobr></td>
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                    <td>us-gaap_</td>
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                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0ENGBI">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>FINANCIAL STATEMENT SCHEDULE I (BALANCE SHEET) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
        <td class="nump">$ 7,831,084<span></span></td>
        <td class="nump">$ 6,679,024<span></span></td>
        <td class="nump">$ 92,697,098<span></span></td>
        <td class="nump">$ 203,635,798<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepaid expenses and other current assets</a></td>
        <td class="nump">23,870,690<span></span></td>
        <td class="nump">23,933,967<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesCurrent', window );">Amount due from related parties</a></td>
        <td class="nump">13,416,452<span></span></td>
        <td class="nump">6,562,487<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
        <td class="nump">91,144,427<span></span></td>
        <td class="nump">96,511,143<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">TOTAL ASSETS</a></td>
        <td class="nump">610,199,543<span></span></td>
        <td class="nump">816,307,804<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_AccruedExpensesAndOtherCurrentLiabilities', window );">Accrued expenses and other current liabilities</a></td>
        <td class="nump">7,461,621<span></span></td>
        <td class="nump">7,617,455<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
        <td class="nump">299,123,874<span></span></td>
        <td class="nump">260,311,121<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityAbstract', window );"><strong>EQUITY</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValueOutstanding', window );">Ordinary shares; $0.0001 per value 500,000,000 shares authorized as of December 31, 2012 and 2013; 175,714,103 and 175,714,103 shares issued as of December 31, 2012 and 2013, respectively and 172,877,433 and 173,427,853 shares outstanding as of December 31, 2012 and 2013, respectively</a></td>
        <td class="nump">17,343<span></span></td>
        <td class="nump">17,288<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid in capital</a></td>
        <td class="nump">146,676,163<span></span></td>
        <td class="nump">144,755,902<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings (accumulated losses)</a></td>
        <td class="num">(32,667,469)<span></span></td>
        <td class="nump">38,276,015<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income</a></td>
        <td class="nump">23,699,196<span></span></td>
        <td class="nump">19,551,006<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValue', window );">Treasury stock</a></td>
        <td class="num">(398,672)<span></span></td>
        <td class="num">(494,928)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total Daqo New Energy Corp. shareholders' equity</a></td>
        <td class="nump">137,326,561<span></span></td>
        <td class="nump">202,105,283<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">TOTAL LIABILITIES AND EQUITY</a></td>
        <td class="nump">610,199,543<span></span></td>
        <td class="nump">816,307,804<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract', window );"><strong>Ordinary shares:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Ordinary shares, par value</a></td>
        <td class="nump">$ 0.0001<span></span></td>
        <td class="nump">$ 0.0001<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Ordinary shares, shares authorized</a></td>
        <td class="nump">500,000,000<span></span></td>
        <td class="nump">500,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Ordinary shares, shares issued</a></td>
        <td class="nump">175,714,103<span></span></td>
        <td class="nump">175,714,103<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Ordinary shares, shares outstanding</a></td>
        <td class="nump">173,427,853<span></span></td>
        <td class="nump">172,877,433<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Parent Company [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
        <td class="nump">5,187,046<span></span></td>
        <td class="nump">5,669,834<span></span></td>
        <td class="nump">3,291,387<span></span></td>
        <td class="nump">42,377,021<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepaid expenses and other current assets</a></td>
        <td class="nump">177,487<span></span></td>
        <td class="nump">593,707<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesCurrent', window );">Amount due from related parties</a></td>
        <td class="nump">5,110,085<span></span></td>
        <td class="nump">5,110,085<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
        <td class="nump">10,474,618<span></span></td>
        <td class="nump">11,373,626<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures', window );">Investments in subsidiaries, net</a></td>
        <td class="nump">127,203,565<span></span></td>
        <td class="nump">190,945,888<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">TOTAL ASSETS</a></td>
        <td class="nump">137,678,183<span></span></td>
        <td class="nump">202,319,514<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_AccruedExpensesAndOtherCurrentLiabilities', window );">Accrued expenses and other current liabilities</a></td>
        <td class="nump">351,621<span></span></td>
        <td class="nump">214,231<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
        <td class="nump">351,621<span></span></td>
        <td class="nump">214,231<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityAbstract', window );"><strong>EQUITY</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValueOutstanding', window );">Ordinary shares; $0.0001 per value 500,000,000 shares authorized as of December 31, 2012 and 2013; 175,714,103 and 175,714,103 shares issued as of December 31, 2012 and 2013, respectively and 172,877,433 and 173,427,853 shares outstanding as of December 31, 2012 and 2013, respectively</a></td>
        <td class="nump">17,343<span></span></td>
        <td class="nump">17,288<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid in capital</a></td>
        <td class="nump">146,676,163<span></span></td>
        <td class="nump">144,755,902<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings (accumulated losses)</a></td>
        <td class="num">(32,667,469)<span></span></td>
        <td class="nump">38,276,015<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income</a></td>
        <td class="nump">23,699,196<span></span></td>
        <td class="nump">19,551,006<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValue', window );">Treasury stock</a></td>
        <td class="num">(398,672)<span></span></td>
        <td class="num">(494,928)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total Daqo New Energy Corp. shareholders' equity</a></td>
        <td class="nump">137,326,561<span></span></td>
        <td class="nump">202,105,283<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">TOTAL LIABILITIES AND EQUITY</a></td>
        <td class="nump">$ 137,678,183<span></span></td>
        <td class="nump">$ 202,319,514<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract', window );"><strong>Ordinary shares:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Ordinary shares, par value</a></td>
        <td class="nump">$ 0.0001<span></span></td>
        <td class="nump">$ 0.0001<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Ordinary shares, shares authorized</a></td>
        <td class="nump">500,000,000<span></span></td>
        <td class="nump">500,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Ordinary shares, shares issued</a></td>
        <td class="nump">175,714,103<span></span></td>
        <td class="nump">175,714,103<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Ordinary shares, shares outstanding</a></td>
        <td class="nump">173,427,853<span></span></td>
        <td class="nump">172,877,433<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_AccruedExpensesAndOtherCurrentLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accrued expenses and other current liabilities</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_AccruedExpensesAndOtherCurrentLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=SL7669686-108580<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e637-108580<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e681-108580<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 31<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 31<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.30(a)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdditionalPaidInCapitalCommonStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 12<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 18<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Assets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.9)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 9<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash Equivalents<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3044-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value per share of common stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockParOrStatedValuePerShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesAuthorized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValueOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of all classes of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares exclude common shares repurchased by the entity and held as treasury shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockValueOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromRelatedPartiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (d)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 3<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.3(a)(2))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (d)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph k<br><br> -Subparagraph 2<br><br> -Article 4<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DueFromRelatedPartiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EquityAbstract</nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.12)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.32)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 25<br><br> -Article 7<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 32<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesAndStockholdersEquity</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 21<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesCurrent</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
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                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 8<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PrepaidExpenseAndOtherAssetsCurrent</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 31<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.31(a)(3))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RetainedEarningsAccumulatedDeficit</nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SAB TOPIC 4.E)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section E<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23315-112656<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E2F">
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          <div style="width: 200px;"><strong>SEGMENT INFORMATION (Tables)<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock', window );">Summary of Financial Information by Segment</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The following table summarizes the Group&#39;s revenue by segment:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">Year ended December&nbsp;31, 2011</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Polysilicon</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Wafer</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Elimination</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 48%; TEXT-ALIGN: left">Revenue - External</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">218,915,487</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">13,254,092</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">232,169,579</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Revenue - Intersegment</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,696,573</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (1,696,573</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Total revenue</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 220,612,060</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 13,254,092</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (1,696,573</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 232,169,579</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Total Cost</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 125,962,033</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 20,680,565</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (1,696,573</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 144,946,025</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Gross profit (loss)</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 94,650,027</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (7,426,473</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> -</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 87,223,554</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">Year ended December&nbsp;31, 2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Polysilicon</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Wafer</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Elimination</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 48%; TEXT-ALIGN: left">Revenue - External</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">73,450,807</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">13,407,594</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">86,858,401</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Revenue - Intersegment</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 6,067,339</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (6,067,339</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Total revenue</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">79,518,146</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">13,407,594</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(6,067,339</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">86,858,401</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Total Cost</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 110,243,043</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 20,114,680</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (6,067,339</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 124,290,384</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Gross profit (loss)</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (30,724,897</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (6,707,086</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> -</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (37,431,983</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">Year ended December&nbsp;31, 2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Polysilicon</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Wafer</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Elimination</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 48%; TEXT-ALIGN: left">Revenue - External</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">76,721,105</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">32,278,700</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">108,999,805</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Revenue - Intersegment</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 13,195,838</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (13,195,838</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Total revenue</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">89,916,943</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">32,278,700</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(13,195,838</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">108,999,805</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Total Cost</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 98,684,325</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 49,614,921</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (13,195,838</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 135,103,408</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Gross profit (loss)</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (8,767,382</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (17,336,221</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (26,103,603</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock', window );">Schedule of Revenues of Major Customers</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The following customers accounted for 10% or more of revenues:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 1in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2011</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 52%; TEXT-ALIGN: left">Customer A</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 13%; TEXT-ALIGN: right">28,219,079</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 13%; TEXT-ALIGN: right">21,749,284</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 13%"> *</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">Customer B</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">27,214,590</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Customer D</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">33,140,475</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">Customer G</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">28,570,338</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Customer I</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">19,644,488</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">Customer L</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">13,471,873</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <!-- Field: Rule-Page --> <div style="BORDER-TOP: black 1pt solid; FONT-SIZE: 1pt; text-align: left; WIDTH: 20%"> &nbsp;</div> <!-- Field: /Rule-Page --> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-RIGHT: 0.8pt; WIDTH: 2%"> *</td> <td style="WIDTH: 1%; PADDING-RIGHT: 0.8pt">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-RIGHT: 0.8pt; WIDTH: 97%"> Represents less than 10%</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer.</p>
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                <p>Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.</p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>PREPAID EXPENSE AND OTHER CURRENT ASSETS (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract', window );"><strong>PREPAID EXPENSE AND OTHER CURRENT ASSETS [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock', window );">Schedule of Prepaid Expense and Other Current Assets</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Prepaid expense and other current assets consist of the following:</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Spare parts</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">3,975,860</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">6,264,805</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Prepaid Value added tax ("VAT")</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">18,705,984</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">13,546,880</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Prepaid insurance fee</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">471,721</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,016,625</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Others</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 780,402</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 3,042,380</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 23,933,967</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 23,870,690</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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        </tr>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.17)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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<DOCUMENT>
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<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EFJAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>FINANCIAL STATEMENT SCHEDULE I (STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>OPERATING EXPENSES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpense', window );">Research and development expenses</a></td>
        <td class="num">$ (3,391,012)<span></span></td>
        <td class="num">$ (4,130,533)<span></span></td>
        <td class="num">$ (744,322)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total operating expenses</a></td>
        <td class="num">(174,527,577)<span></span></td>
        <td class="num">(51,085,911)<span></span></td>
        <td class="num">(36,471,407)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Income (loss) from operations</a></td>
        <td class="num">(200,631,180)<span></span></td>
        <td class="num">(88,517,894)<span></span></td>
        <td class="nump">50,752,147<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
        <td class="nump">149,752<span></span></td>
        <td class="nump">990,117<span></span></td>
        <td class="nump">1,846,956<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders</a></td>
        <td class="num">(70,943,484)<span></span></td>
        <td class="num">(111,928,941)<span></span></td>
        <td class="nump">33,323,952<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract', window );"><strong>Other comprehensive income:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income (loss) attributable to Daqo New Energy Corp. shareholders</a></td>
        <td class="num">(66,795,294)<span></span></td>
        <td class="num">(109,722,759)<span></span></td>
        <td class="nump">45,491,207<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Parent Company [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>OPERATING EXPENSES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative</a></td>
        <td class="num">(2,979,454)<span></span></td>
        <td class="num">(3,528,728)<span></span></td>
        <td class="num">(2,355,174)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpense', window );">Research and development expenses</a></td>
        <td class="num">(76,646)<span></span></td>
        <td class="num">(175,242)<span></span></td>
        <td class="num">(75,508)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total operating expenses</a></td>
        <td class="num">(3,056,100)<span></span></td>
        <td class="num">(3,703,970)<span></span></td>
        <td class="num">(2,430,682)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Income (loss) from operations</a></td>
        <td class="num">(3,056,100)<span></span></td>
        <td class="num">(3,703,970)<span></span></td>
        <td class="num">(2,430,682)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
        <td class="nump">3,130<span></span></td>
        <td class="nump">3,074<span></span></td>
        <td class="nump">24,852<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">NET LOSS BEFORE SHARE OF RESULTS OF SUBSIDIARIES</a></td>
        <td class="num">(3,052,970)<span></span></td>
        <td class="num">(3,700,896)<span></span></td>
        <td class="num">(2,405,830)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromSubsidiariesBeforeTax', window );">Equity in earnings (losses) of subsidiaries</a></td>
        <td class="num">(67,890,514)<span></span></td>
        <td class="num">(108,228,045)<span></span></td>
        <td class="nump">35,729,782<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders</a></td>
        <td class="num">(70,943,484)<span></span></td>
        <td class="num">(111,928,941)<span></span></td>
        <td class="nump">33,323,952<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract', window );"><strong>Other comprehensive income:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent', window );">Foreign currency translation adjustments</a></td>
        <td class="nump">4,148,190<span></span></td>
        <td class="nump">2,206,182<span></span></td>
        <td class="nump">12,167,255<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent', window );">Total other comprehensive income</a></td>
        <td class="nump">4,148,190<span></span></td>
        <td class="nump">2,206,182<span></span></td>
        <td class="nump">12,167,255<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income (loss) attributable to Daqo New Energy Corp. shareholders</a></td>
        <td class="num">$ (66,795,294)<span></span></td>
        <td class="num">$ (109,722,759)<span></span></td>
        <td class="nump">$ 45,491,207<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=16317811<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e557-108580<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ComprehensiveIncomeNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GeneralAndAdministrativeExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromSubsidiariesBeforeTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before tax of income (loss) of subsidiary attributable to the parent entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromSubsidiariesBeforeTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 7<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.7(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InvestmentIncomeInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e565-108580<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpenses">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingExpenses</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpensesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingExpensesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net result for the period of deducting operating expenses from operating revenues.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature, attributable to parent entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569643-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (c)(3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax of other comprehensive income (loss) attributable to parent entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569643-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (c)(3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent</nobr></td>
                  </tr>
                  <tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 985<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6501960&amp;loc=d3e128462-111756<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 730<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ResearchAndDevelopmentExpense</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0ELDAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>EARNINGS PER SHARE (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract', window );"><strong>Numerator used in basic and diluted earnings per share:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic', window );">Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders-basic</a></td>
        <td class="num">$ (70,943,484)<span></span></td>
        <td class="num">$ (111,928,891)<span></span></td>
        <td class="nump">$ 33,323,952<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted', window );">Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders-diluted</a></td>
        <td class="num">$ (70,943,484)<span></span></td>
        <td class="num">$ (111,928,891)<span></span></td>
        <td class="nump">$ 33,323,952<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract', window );"><strong>Denominator used in basic and diluted earnings per share:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements', window );">Share options</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted', window );">Weighted average number of ordinary shares outstanding used in computing earnings per share - basic and diluted</a></td>
        <td class="nump">173,068,420<span></span></td>
        <td class="nump">175,067,343<span></span></td>
        <td class="nump">175,714,103<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">NET INCOME (LOSS) ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE - Basic and Diluted</a></td>
        <td class="num">$ (0.41)<span></span></td>
        <td class="num">$ (0.64)<span></span></td>
        <td class="nump">$ 0.19<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Outstanding employee options excluded from computation of diluted earnings per share</a></td>
        <td class="nump">6,371,250<span></span></td>
        <td class="nump">7,179,500<span></span></td>
        <td class="nump">6,805,000<span></span></td>
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    <div style="display: none;">
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Antidilution<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6505113<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Diluted Earnings Per Share<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6510752<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Contingent Stock Agreement<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6508534<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDiluted">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareBasicAndDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1500-109256<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
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            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Net Income or Loss Available to Common Stockholders plus adjustments resulting from the assumption that dilutive convertible securities were converted, options or warrants were exercised, or that other shares were issued upon the satisfaction of certain conditions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
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            </div>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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  </body>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R57.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EUWAE">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>BORROWINGS (Short-Term Borrowings) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtLineItems', window );"><strong>Short-term Debt [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Short-term bank borrowings</a></td>
        <td class="nump">$ 39,643,440<span></span></td>
        <td class="nump">$ 49,748,800<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtWeightedAverageInterestRate', window );">Interest rate on short-term bank borrowings</a></td>
        <td class="nump">6.40%<span></span></td>
        <td class="nump">7.00%<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Bank Facilities [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtLineItems', window );"><strong>Short-term Debt [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity of credit line</a></td>
        <td class="nump">18,200,000<span></span></td>
        <td class="nump">0<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Debt Guaranteed by Daqo Group [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtLineItems', window );"><strong>Short-term Debt [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Short-term bank borrowings</a></td>
        <td class="nump">28,080,770<span></span></td>
        <td class="nump">1,604,800<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Debt Guaranteed by Daqo Group and Mr. Guangfu Xu and Mr. Xinag Xu [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtLineItems', window );"><strong>Short-term Debt [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Short-term bank borrowings</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">48,144,000<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Debt Guaranteed by Daqo Group and Third Party [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtLineItems', window );"><strong>Short-term Debt [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Short-term bank borrowings</a></td>
        <td class="nump">$ 11,562,670<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(b),22(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 22<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermBankLoansAndNotesPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount at the balance sheet date of borrowings from a bank, not elsewhere enumerated in the taxonomy, with a maturity within one year (or within one operating cycle if longer) from the date of borrowing.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(a)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 16<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShortTermBankLoansAndNotesPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermDebtLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShortTermDebtLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermDebtWeightedAverageInterestRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average interest rate of short-term debt outstanding.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Subparagraph b<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShortTermDebtWeightedAverageInterestRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>46
<FILENAME>R76.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EONBI">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>SEGMENT INFORMATION (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="6">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th" colspan="2">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th" colspan="2">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th" colspan="2">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
        <td class="nump">$ 108,999,805<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 86,858,401<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 232,169,579<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfRevenue', window );">Cost of revenues</a></td>
        <td class="nump">135,103,408<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">124,290,384<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">144,946,025<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit (loss)</a></td>
        <td class="num">(26,103,603)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(37,431,983)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">87,223,554<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Polysilicon [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
        <td class="nump">76,721,105<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">73,450,807<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">218,915,487<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Wafer [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
        <td class="nump">32,278,700<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">13,407,594<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">13,254,092<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Operating Segments [Member] | Polysilicon [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
        <td class="nump">89,916,943<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">79,518,146<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">220,612,060<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfRevenue', window );">Cost of revenues</a></td>
        <td class="nump">98,684,325<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">110,243,043<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">125,962,033<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit (loss)</a></td>
        <td class="num">(8,767,382)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(30,724,897)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">94,650,027<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Operating Segments [Member] | Wafer [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
        <td class="nump">32,278,700<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">13,407,594<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">13,254,092<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfRevenue', window );">Cost of revenues</a></td>
        <td class="nump">49,614,921<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">20,114,680<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">20,680,565<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit (loss)</a></td>
        <td class="num">(17,336,221)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(6,707,086)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(7,426,473)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Elimination [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
        <td class="num">(13,195,838)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(6,067,339)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(1,696,573)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfRevenue', window );">Cost of revenues</a></td>
        <td class="num">(13,195,838)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(6,067,339)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(1,696,573)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit (loss)</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Elimination [Member] | Polysilicon [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
        <td class="num">(13,195,838)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(6,067,339)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(1,696,573)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Elimination [Member] | Wafer [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Customer A [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="nump">21,749,284<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">28,219,079<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Customer B [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="nump">27,214,590<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Customer D [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="nump">33,140,475<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Customer G [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="nump">28,570,338<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
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      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Customer I [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
        <td class="nump">19,644,488<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Customer L [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
        <td class="nump">$ 13,471,873<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
      </tr>
      <tr>
        <td colspan="7"></td>
      </tr>
      <tr>
        <td colspan="7">
          <table class="outerFootnotes" width="100%">
            <tr class="outerFootnote">
              <td style="vertical-align: top;" valign="top">[1]</td>
              <td style="vertical-align: top;" valign="top">Represents less than 10% </td>
            </tr>
          </table>
        </td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfRevenue">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate cost of goods produced and sold and services rendered during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 2<br><br> -Article 5<br><br><br><br></p>
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                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CostOfRevenue</nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1,2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GrossProfit</nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>47
<FILENAME>R81.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EP2BG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>FINANCIAL STATEMENT SCHEDULE I (STATEMENT OF CASH FLOWS) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract', window );"><strong>Operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
        <td class="num">$ (70,943,484)<span></span></td>
        <td class="num">$ (111,928,941)<span></span></td>
        <td class="nump">$ 33,323,952<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based compensation</a></td>
        <td class="nump">1,881,401<span></span></td>
        <td class="nump">2,249,834<span></span></td>
        <td class="nump">2,206,025<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash used in operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other current assets</a></td>
        <td class="nump">29,616<span></span></td>
        <td class="num">(15,042,913)<span></span></td>
        <td class="num">(5,723,463)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent', window );">Amount due from related parties</a></td>
        <td class="num">(6,853,965)<span></span></td>
        <td class="nump">8,418,601<span></span></td>
        <td class="num">(7,390,878)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations', window );">Net cash provided by (used in) operating activities</a></td>
        <td class="num">(16,525,817)<span></span></td>
        <td class="num">(10,307,234)<span></span></td>
        <td class="nump">44,857,910<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Investing activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations', window );">Net cash used in investing activities</a></td>
        <td class="num">(30,696,113)<span></span></td>
        <td class="num">(102,922,470)<span></span></td>
        <td class="num">(274,138,829)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Financing activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfCommonStock', window );">Repurchase of ordinary shares</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(500,724)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Options exercised</a></td>
        <td class="nump">135,171<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations', window );">Net cash provided by financing activities</a></td>
        <td class="nump">48,826,684<span></span></td>
        <td class="nump">27,143,830<span></span></td>
        <td class="nump">112,781,530<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net increase (decrease) in cash and cash equivalents</a></td>
        <td class="nump">1,152,060<span></span></td>
        <td class="num">(86,018,074)<span></span></td>
        <td class="num">(110,938,700)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at the beginning of the year</a></td>
        <td class="nump">6,679,024<span></span></td>
        <td class="nump">92,697,098<span></span></td>
        <td class="nump">203,635,798<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at the end of the year</a></td>
        <td class="nump">7,831,084<span></span></td>
        <td class="nump">6,679,024<span></span></td>
        <td class="nump">92,697,098<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Parent Company [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract', window );"><strong>Operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
        <td class="num">(70,943,484)<span></span></td>
        <td class="num">(111,928,941)<span></span></td>
        <td class="nump">33,323,952<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromSubsidiariesBeforeTax', window );">Share of results of subsidiaries</a></td>
        <td class="nump">67,890,514<span></span></td>
        <td class="nump">108,228,045<span></span></td>
        <td class="num">(35,729,782)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based compensation</a></td>
        <td class="nump">1,881,401<span></span></td>
        <td class="nump">2,249,834<span></span></td>
        <td class="nump">2,206,025<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash used in operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other current assets</a></td>
        <td class="nump">344,717<span></span></td>
        <td class="num">(31,207)<span></span></td>
        <td class="num">(142,001)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherCurrentLiabilities', window );">Changes in other current liabilities</a></td>
        <td class="nump">137,390<span></span></td>
        <td class="nump">214,231<span></span></td>
        <td class="num">(916,531)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent', window );">Amount due from related parties</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(210,523)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations', window );">Net cash provided by (used in) operating activities</a></td>
        <td class="num">(689,462)<span></span></td>
        <td class="num">(1,478,561)<span></span></td>
        <td class="num">(1,258,337)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Investing activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_CapitalContributedToSubsidiaries', window );">Capital contributed to subsidiaries</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(4,811,175)<span></span></td>
        <td class="num">(37,990,278)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries', window );">Cash collected from subsidiaries when liquidation</a></td>
        <td class="nump">71,503<span></span></td>
        <td class="nump">4,390,250<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDivestitureOfBusinesses', window );">Disposition of Nanjing Daqo</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">4,778,657<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations', window );">Net cash used in investing activities</a></td>
        <td class="nump">71,503<span></span></td>
        <td class="nump">4,357,732<span></span></td>
        <td class="num">(37,827,297)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Financing activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfCommonStock', window );">Repurchase of ordinary shares</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(500,724)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Options exercised</a></td>
        <td class="nump">135,171<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations', window );">Net cash provided by financing activities</a></td>
        <td class="nump">135,171<span></span></td>
        <td class="num">(500,724)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net increase (decrease) in cash and cash equivalents</a></td>
        <td class="num">(482,788)<span></span></td>
        <td class="nump">2,378,447<span></span></td>
        <td class="num">(39,085,634)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at the beginning of the year</a></td>
        <td class="nump">5,669,834<span></span></td>
        <td class="nump">3,291,387<span></span></td>
        <td class="nump">42,377,021<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at the end of the year</a></td>
        <td class="nump">5,187,046<span></span></td>
        <td class="nump">5,669,834<span></span></td>
        <td class="nump">3,291,387<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowElementsAbstract', window );"><strong>Supplemental disclosure of cash flow information:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived', window );">Total consideration</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">9,888,742<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1', window );">Less: amount due from Daqo Group</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(5,110,085)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDivestitureOfBusinesses', window );">Total cash consideration received</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">$ 4,778,657<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_CapitalContributedToSubsidiaries">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Capital Contributed To Subsidiaries</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_CapitalContributedToSubsidiaries</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Supplemental Cash Flow Information, Divestitures, Consideration Received.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_SupplementalCashFlowInformationDivestituresConsiderationReceived</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash Equivalents<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3044-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 230<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450594&amp;loc=d3e33268-110906<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromSubsidiariesBeforeTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before tax of income (loss) of subsidiary attributable to the parent entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromSubsidiariesBeforeTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate increase (decrease) during the reporting period in the amount due from the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherCurrentLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in other current operating liabilities not separately disclosed in the statement of cash flows.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOtherCurrentLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3536-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e565-108580<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of noncash consideration received for selling an asset or business through a noncash (or part noncash) transaction.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRepurchaseOfCommonStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow to reacquire common stock during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3291-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsForRepurchaseOfCommonStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromDivestitureOfBusinesses">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow associated with the amount received from the sale of a portion of the company's business, for example a segment, division, branch or other business, during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3179-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromDivestitureOfBusinesses</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow associated with the deconsolidation of a previously consolidated subsidiary or the sale of investment in consolidated subsidiaries (generally greater than 50 percent).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3179-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (j)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromStockOptionsExercised</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
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        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SupplementalCashFlowElementsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SupplementalCashFlowElementsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
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          </td>
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<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E5FAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>SUBSEQUENT EVENTS (Details) (Subsequent Event [Member], USD $)<br></strong></div>
        </th>
        <th class="th" colspan="1">1 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Jan. 28, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Event [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Options granted</a></td>
        <td class="nump">6,274,166<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Exercise price of options granted</a></td>
        <td class="nump">$ 1.49<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Vesting in First Six Months [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Event [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Vesting percentage</a></td>
        <td class="nump">25.00%<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Vesting in Year One [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Event [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Vesting percentage</a></td>
        <td class="nump">25.00%<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Vesting in Year Two [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Event [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Vesting percentage</a></td>
        <td class="nump">50.00%<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percentage of vesting of share-based compensation awards.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gross number of share options (or share units) granted during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
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                  <tr>
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                    <td>na</td>
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                    <td>duration</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SubsequentEventLineItems</nobr></td>
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  </body>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
<FILENAME>R71.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0ETLBG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>SHARE BASED COMPENSATION (Summary of Stock Option Activity) (Details) (Employee Stock Option [Member], USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
        <th class="th" colspan="1"></th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2009</div>
        </th>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Employee Stock Option [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward', window );"><strong>Number of Options</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Options outstanding (after modification of exercise price)</a></td>
        <td class="nump">7,179,500<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5,350,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted</a></td>
        <td class="nump">140,000<span></span></td>
        <td class="nump">1,190,000<span></span></td>
        <td class="nump">0<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod', window );">Forfeited</a></td>
        <td class="num">(304,912)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod', window );">Expired</a></td>
        <td class="num">(92,918)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Exercised</a></td>
        <td class="num">(550,420)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Options outstanding</a></td>
        <td class="nump">6,371,250<span></span></td>
        <td class="nump">7,179,500<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5,350,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber', window );">Options vested or expected to vest</a></td>
        <td class="nump">5,915,969<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Options exercisable</a></td>
        <td class="nump">5,364,292<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward', window );"><strong>Weighted Average Exercise Price</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Options outstanding</a></td>
        <td class="nump">$ 0.25<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Granted</a></td>
        <td class="nump">$ 0.25<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice', window );">Forfeited</a></td>
        <td class="nump">$ 0.25<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice', window );">Expired</a></td>
        <td class="nump">$ 0.25<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Exercised</a></td>
        <td class="nump">$ 0.25<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Options outstanding</a></td>
        <td class="nump">$ 0.25<span></span></td>
        <td class="nump">$ 0.25<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice', window );">Options vested or expected to vest</a></td>
        <td class="nump">$ 0.25<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Options exercisable</a></td>
        <td class="nump">$ 0.25<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract', window );"><strong>Weighted Average Remaining Contract Life</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2', window );">Options outstanding</a></td>
        <td class="text">6 years 5 months 1 day<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1', window );">Options vested or expected to vest</a></td>
        <td class="text">6 years 4 months 13 days<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1', window );">Options exercisable</a></td>
        <td class="text">6 years 5 months 5 days<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract', window );"><strong>Aggregate Intrinsic Value</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue', window );">Options outstanding</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue', window );">Options vested or expected to vest</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Options exercisable</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of options or other stock instruments for which the right to exercise has lapsed under the terms of the plan agreements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iv)(4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iv)(3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gross number of share options (or share units) granted during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of options outstanding, including both vested and non-vested options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(i)-(ii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(i)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (e)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount by which the current fair value of the underlying stock exceeds the exercise price of fully vested and expected to vest options outstanding.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>As of the balance sheet date, the number of shares into which fully vested and expected to vest stock options outstanding can be converted under the option plan.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (e)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>As of the balance sheet date, the weighted-average exercise price for outstanding stock options that are fully vested or expected to vest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (e)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average remaining contractual term for fully vested and expected to vest options outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (e)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average price at which option holders acquired shares when converting their stock options into shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average price at which grantees could have acquired the underlying shares with respect to stock options of the plan that expired.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of share options (or share units) exercised during the current period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28,29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iv)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>VARIABLE INTEREST ENTITY<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityVIEOrPotentialVIEInformationUnavailabilityDisclosuresAbstract', window );"><strong>VARIABLE INTEREST ENTITY [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_VariableInterestEntityDisclosureTextBlock', window );">VARIABLE INTEREST ENTITY</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>18. VARIABLE INTEREST ENTITY</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The equity interests in Daqo New Material, the VIE, are funded by Daqo Group. Daqo New Material was structured to acquire land use rights and to erect certain facilities for the future use of the Group.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The lease agreement with the VIE is structured such that Chongqing Daqo protect Daqo Group from potential losses from Daqo New Material. As a result of this agreement, Chongqing Daqo is the primary beneficiary of Daqo New Material. Lease income and expenses and associated receivables and payables are eliminated upon consolidation as intercompany transactions. Net income of the VIE is reflected as an adjustment to noncontrolling interest. The Company relies on the lease agreements with Daqo New Material for material property, plant and equipment necessary for production. If Daqo New Material fails to perform or terminates the lease agreement for any reason, including, for example, due to its breach of the agreement or the unavailability of any required governmental approvals, or if it refuses to extend or renew the lease agreement when the agreement expires, and the Company cannot find an immediately available alternative source for leasing similar property, plant and equipment, then the Company&#39;s ability to carry on the operations will be impaired. If Daqo New Material fails to perform its obligations, the Company may need to initiate legal procedures to enforce the agreement.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> On December 31, 2013, Chongqing Daqo and Daqo New Material terminated this lease agreement. As a result of the change, Chongqing Daqo no longer has the power to direct the activities that most significantly impact Daqo New Material&#39;s operations, and as such Chongqing Daqo ceased to be the primary beneficiary of Daqo New Material and deconsolidated the entity on the date the lease arrangement was terminated, December 30, 2013. No gain or loss was recorded on termination of VIE arrangement. After deconsolidation, Daqo New Material remains a related party of the Group. On January 1, 2014, Chongqing Daqo signed a new operating lease agreement with Daqo New Material with respect to certain limited facilities, including the dining hall, office space and portions of the employee dormitory which it uses for its wafer business located nearby. The term of the lease is three years and the annual rental for these facilities is approximately $1 million.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Daqo New Material leased all of its assets for use in the Group&#39;s operations. Significant assets, liabilities, revenues, operating costs and expenses and net income of the VIE are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td>&nbsp;</td> <td colspan="2">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td colspan="2">&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 74%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Cash</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">189,312</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Property, plant and equipment</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">162,396,825</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Prepaid land use rights</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">6,632,643</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total Assets</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">173,450,176</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Short-term borrowings, including current portion of long-term borrowings</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">19,257,600</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Accrued expenses and other current liabilities</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">512,708</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Amount due to related party</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">467,568</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt">Long-term borrowings</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">14,443,200</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total Liabilities</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">34,678,046</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2011</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 61%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Revenues*</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">16,852,928</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">10,743,336</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">**</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Operating costs and expenses</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">15,262,768</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">14,451,810</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">150,147,024</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Net income (loss)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">1,590,160</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">(3,708,474</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">(150,147,024</td> <td style="TEXT-ALIGN: left">)</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> *Rental income, eliminated in consolidation.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> ** The lease term was amended at the beginning of 2013 and reduced the rent to 0 per month and was later terminated on December 30, 2013.</p> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss.</p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EJSAE">
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          <div style="width: 200px;"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Share-based Compensation) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
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      <tr>
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          <div>Dec. 31, 2013</div>
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        <th class="th">
          <div>Dec. 31, 2012</div>
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        <th class="th">
          <div>Dec. 31, 2011</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems', window );"><strong>Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]</strong></a></td>
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        <td class="nump">$ 1,881,401<span></span></td>
        <td class="nump">$ 2,249,834<span></span></td>
        <td class="nump">$ 2,206,025<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">1,743,768<span></span></td>
        <td class="nump">2,018,817<span></span></td>
        <td class="nump">2,068,115<span></span></td>
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          <div class="a">Research and development expenses [Member]</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems', window );"><strong>Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">60,987<span></span></td>
        <td class="nump">175,242<span></span></td>
        <td class="nump">75,508<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">$ 76,646<span></span></td>
        <td class="nump">$ 55,775<span></span></td>
        <td class="nump">$ 62,402<span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 14.F)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (h)(1)(i)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 14<br><br> -Section F<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EKH">
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          <div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS AND BALANCES (Tables)<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>RELATED PARTY TRANSACTIONS AND BALANCES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock', window );">Schedule of Related Party Balances, Loans</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The balances due from related parties mainly include the consideration for the transfer of 100% ownership of Nanjing Daqo to Daqo Group amount due from Zhenjiang Daqo for the sales of wafer and polysilicon. Such balances are unsecured, interest-free, and are payable on demand. The balances are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Amount due from related party</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Zhenjiang Daqo</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">10,744</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">6,898,980</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Daqo Group</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">6,440,129</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">6,465,561</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Others</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 111,614</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 51,911</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td>&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 6,562,487</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 13,416,452</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock', window );">Schedule of Related Party Balances, Payables</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Balances due to related parties related to interest free loans received primarily for working capital purposes from Daqo Solar and Xinjiang Daqo Investment, wholly-owned subsidiaries of Daqo Group. The balances are payable on demand and are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Amount due to related party</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Daqo Group</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">5,359,007</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">461,796</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Xinjiang Daqo Investment</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">2,354,620</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">18,482,300</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Nanjing Daqo</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,645,923</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,651,810</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Daqo Solar</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">13,497,973</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">66,750,009</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Others</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 850,840</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,191,875</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td>&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 23,708,363</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 88,537,790</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock', window );">Schedule of Related Party Transactions</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <table style="MARGIN-BOTTOM: 0pt; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td>The transactions with Daqo Group and its subsidiaries were as follows:</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;&nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"> Transaction</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year Ended December 31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold" nowrap="nowrap">Name of Related parties</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> Nature</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2011</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 15%">Daqo Group</td> <td style="WIDTH: 1%"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; WIDTH: 30%">Sales</td> <td style="WIDTH: 1%"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 15%"> 1,971</td> <td style="WIDTH: 1%; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="WIDTH: 1%"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 15%">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="WIDTH: 1%"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 15%">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Purchase-Fixed asset</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">15,787,658</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">7,849,533</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Financing-cash in</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">3,095,120</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">813,105</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Financing-cash out</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">3,095,120</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">813,105</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Disposition of 100% equity interest of Nan Jing Daqo</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">9,888,742</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">&nbsp;&nbsp;Zhenjiang Daqo</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Sales</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">6,958,317</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">2,799,428</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">13,471,866</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Purchase of cells</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">3,314,115</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Processing fee</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">1,209,769</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Daqo Solar</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Purchase-Fixed asset</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">20,562,272</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Prepayment received</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">13,497,973</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Financing-cash in</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">72,199,600</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">76,881,392</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Financing-cash out</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">72,199,600</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">28,379,678</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Interest charged</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">1,552,126</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Short-term interest free loan extended to Daqo Solar</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">9,898,458</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">&nbsp;&nbsp;Nanjing Daqo</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Sales</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">80,126</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Related party interest bearing loan</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">1,584,820</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Interest charged</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">40,611</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Xinjiang Daqo Investment</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Prepayment received</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">2,354,620</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Financing-cash in</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">58,389,643</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Financing-cash out</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">40,193,785</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Others subsidiaries under Daqo Group</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Sales</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">427,302</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Purchase-Fixed asset</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">2,027,001</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">202,556</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">157,742</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Purchase-Raw material</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">300,574</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">5,282</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Rental expense</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">612,856</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"> Service expense</td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 71,426</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt">Total</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt">Sales</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 7,387,590</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 2,799,427</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 13,471,866</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Disposition of 100% equity interest in Nanjing Daqo</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 9,888,742</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt">Purchase-Fixed asset</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 38,376,931</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 8,052,089</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 157,742</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt">Purchase-Raw material</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 3,614,689</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 5,282</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Processing fee</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 1,209,769</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Rental expense</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 612,856</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Service expense</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 71,426</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Interest expense</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 1,552,126</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 40,611</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Prepayment received*</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 15,852,593</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Proceeds from interest free loans</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 75,294,720</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 1,584,820</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 136,084,140</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Repayment of interest free loans</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 85,193,178</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 69,386,568</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">* Prepayment has been considered a related party loan given there has been no deliveries since the prepayment was provided.</p> <!--EndFragment--></div> </div><span></span></td>
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        <tr>
          <td>
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                <p>Tabular disclosure of short-term loan balances with related parties.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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                <p>Tabular disclosure of payables balances with related parties.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                <table border="0" cellpadding="0" cellspacing="0">
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                <p>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.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>53
<FILENAME>R75.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EUGBG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>VARIABLE INTEREST ENTITY (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
        <th class="th" colspan="6">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Apr. 14, 2014</div>
        </th>
        <th class="th" colspan="2">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th" colspan="2">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th" colspan="2">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityLineItems', window );"><strong>Variable Interest Entity [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property, plant and equipment</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 488,504,183<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 677,895,274<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseNoncurrent', window );">Prepaid land use rights</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">30,377,493<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">36,157,610<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total Assets</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">610,199,543<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">816,307,804<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtCurrent', window );">Short-term borrowings, including current portion of long-term borrowings</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">118,870,857<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">120,279,760<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_AccruedExpensesAndOtherCurrentLiabilities', window );">Accrued expenses and other current liabilities</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">7,461,621<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">7,617,455<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Amount due to related parties</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">88,537,790<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">23,708,363<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Long-term borrowings</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">134,870,287<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">187,520,880<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total Liabilities</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">472,872,982<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">475,430,391<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">108,999,805<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">86,858,401<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">232,169,579<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(70,943,484)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(111,928,941)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">33,323,952<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Variable Interest Entity Primary Beneficiary [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityLineItems', window );"><strong>Variable Interest Entity [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Cash', window );">Cash</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">189,312<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property, plant and equipment</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">162,396,825<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseNoncurrent', window );">Prepaid land use rights</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">6,632,643<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total Assets</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">173,450,176<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtCurrent', window );">Short-term borrowings, including current portion of long-term borrowings</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">19,257,600<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_AccruedExpensesAndOtherCurrentLiabilities', window );">Accrued expenses and other current liabilities</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">512,708<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Amount due to related parties</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">467,568<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Long-term borrowings</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">14,443,200<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total Liabilities</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">34,678,046<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1],[2]</sup></td>
        <td class="nump">10,743,336<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="nump">16,852,928<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingCostsAndExpenses', window );">Operating costs and expenses</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">150,147,024<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">14,451,810<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">15,262,768<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(150,147,024)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(3,708,474)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">1,590,160<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract', window );">Lease term</a></td>
        <td class="text">3 years<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment', window );">Annual rental payment</a></td>
        <td class="nump">$ 1,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr>
        <td colspan="8"></td>
      </tr>
      <tr>
        <td colspan="8">
          <table class="outerFootnotes" width="100%">
            <tr class="outerFootnote">
              <td style="vertical-align: top;" valign="top">[1]</td>
              <td style="vertical-align: top;" valign="top">Rental income, eliminated in consolidation.</td>
            </tr>
            <tr class="outerFootnote">
              <td style="vertical-align: top;" valign="top">[2]</td>
              <td style="vertical-align: top;" valign="top">The lease term was amended at the beginning of 2013 and reduced the rent to 0 per month and was later terminated on December 30, 2013.</td>
            </tr>
          </table>
        </td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_AccruedExpensesAndOtherCurrentLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accrued expenses and other current liabilities</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_AccruedExpensesAndOtherCurrentLiabilities</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Lessee Leasing Arrangements, Operating Leases, Annual Payment.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 12<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 18<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Assets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Cash">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Cash</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of short-term debt and current maturity of long-term debt and capital lease obligations due within one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19,20)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (d)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph k<br><br> -Subparagraph 1<br><br> -Article 4<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DueToRelatedPartiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Term of the lessee's leasing arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19-26)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Liabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 22<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e565-108580<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of amounts paid in advance for expenses which will be charged against earnings in periods after one year or beyond the operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.17)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 17<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PrepaidExpenseNoncurrent</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.13)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 13<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 8<br><br> -Article 7<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PropertyPlantAndEquipmentNet</nobr></td>
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                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Revenues</nobr></td>
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        <tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract', window );"><strong>ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock', window );">Schedule of Accrued Expenses and Other Current Liabilities</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Accrued expenses and other current liabilities consist of the following:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: left">Accrued payroll and welfare</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">2,526,701</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">2,588,312</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">Accrued professional fees</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">700,000</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">624,825</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Other tax payable</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,830,815</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,378,963</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">Interest payable</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">612,968</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">305,087</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Government subsidy</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">882,640</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">908,496</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt">Others</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,064,331</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,655,938</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 7,617,455</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 7,461,621</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>55
<FILENAME>R52.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0ELJAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>ALLOWANCES FOR DOUBTFUL RECEIVABLES (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward', window );"><strong>Analysis of allowances for accounts receivable is as follows:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivable', window );">Beginning of the year</a></td>
        <td class="nump">$ 1,592,467<span></span></td>
        <td class="nump">$ 1,202,940<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProvisionForDoubtfulAccounts', window );">Allowances made during the year</a></td>
        <td class="nump">5,482,019<span></span></td>
        <td class="nump">359,733<span></span></td>
        <td class="nump">1,202,940<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect', window );">Foreign exchange effect</a></td>
        <td class="nump">86,296<span></span></td>
        <td class="nump">29,794<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivable', window );">Closing balance</a></td>
        <td class="nump">$ 7,160,782<span></span></td>
        <td class="nump">$ 1,592,467<span></span></td>
        <td class="nump">$ 1,202,940<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Allowance For Doubtful Accounts Receivable, Foreign Exchange Effect.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>For an unclassified balance sheet, a valuation allowance for receivables due a company that are expected to be uncollectible.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 4<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28368275&amp;loc=d3e5074-111524<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AllowanceForDoubtfulAccountsReceivable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProvisionForDoubtfulAccounts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.5)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 5<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProvisionForDoubtfulAccounts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>56
<FILENAME>R67.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EBGAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>INCOME TAXES (Schedule of Effective Income Tax Rate) (Details)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract', window );"><strong>Effective income tax rate:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">PRC Enterprise Income Tax</a></td>
        <td class="nump">25.00%<span></span></td>
        <td class="nump">25.00%<span></span></td>
        <td class="nump">25.00%<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationTaxHolidays', window );">Preferential income tax rate of a subsidiary</a></td>
        <td class="num">(2.00%)<span></span></td>
        <td class="num">(9.00%)<span></span></td>
        <td class="num">(12.00%)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate', window );">Effect of different reversal rate</a></td>
        <td class="nump">3.00%<span></span></td>
        <td class="nump">8.00%<span></span></td>
        <td class="num">(14.00%)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationDeductions', window );">Additional tax deductions</a></td>
        <td class="num">(1.00%)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationNondeductibleExpense', window );">Non-deductible expenses</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">1.00%<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential', window );">Different tax rate in other jurisdictions</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(1.00%)<span></span></td>
        <td class="nump">2.00%<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance', window );">Changes in valuation allowance</a></td>
        <td class="num">(26.00%)<span></span></td>
        <td class="num">(35.00%)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes', window );">Prior year adjustment</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">2.00%<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations', window );">Effective tax rate</a></td>
        <td class="num">(1.00%)<span></span></td>
        <td class="num">(10.00%)<span></span></td>
        <td class="nump">2.00%<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h)(2))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Subparagraph 2<br><br> -Article 4<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EffectiveIncomeTaxRateContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract">
        <tr>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract</nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</nobr></td>
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                    <td><strong> Period Type:</strong></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the valuation allowance for deferred tax assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance</nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the income tax rates.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate</nobr></td>
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                    <td>us-gaap_</td>
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                    <td><strong> Period Type:</strong></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationDeductions">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to deductions. Including, but not limited to, extraterritorial income exclusion deduction, qualified production activity deduction, dividend deduction, deduction for dividend paid to employee stock ownership plan, Medicare prescription drug benefit subsidy deduction, and other deductions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EffectiveIncomeTaxRateReconciliationDeductions</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Period Type:</strong></td>
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          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to statutory income tax expense (benefit) outside of the country of domicile.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
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                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationNondeductibleExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible expenses.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EffectiveIncomeTaxRateReconciliationNondeductibleExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
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                    <td><strong> Period Type:</strong></td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to revisions of previously reported income tax expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationTaxHolidays">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to income exempt from income tax because of a tax holiday.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EffectiveIncomeTaxRateReconciliationTaxHolidays</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
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<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EBBAG">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>ADVANCES FROM CUSTOMERS (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th" colspan="2">
          <div>Dec. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueArrangementLineItems', window );"><strong>Deferred Revenue Arrangement [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CustomerAdvancesAndDeposits', window );">Total</a></td>
        <td class="nump">$ 25,141,896<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 29,396,238<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CustomerAdvancesCurrent', window );">Less: Current portion of Advance from customers</a></td>
        <td class="num">(13,217,775)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="num">(29,396,238)<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CustomerAdvancesNoncurrent', window );">Long term advance from customers</a></td>
        <td class="nump">11,924,121<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Customer D [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueArrangementLineItems', window );"><strong>Deferred Revenue Arrangement [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CustomerAdvancesAndDeposits', window );">Total</a></td>
        <td class="nump">15,987,573<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
        <td class="nump">15,532,572<span></span></td>
        <td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted', window );">Supply commitment</a></td>
        <td class="nump">2,400,000<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Customer F [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueArrangementLineItems', window );"><strong>Deferred Revenue Arrangement [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CustomerAdvancesAndDeposits', window );">Total</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">1,532,632<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Customer J [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueArrangementLineItems', window );"><strong>Deferred Revenue Arrangement [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CustomerAdvancesAndDeposits', window );">Total</a></td>
        <td class="nump">4,220,355<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">6,852,496<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Customer G [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueArrangementLineItems', window );"><strong>Deferred Revenue Arrangement [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CustomerAdvancesAndDeposits', window );">Total</a></td>
        <td class="nump">2,996,550<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">3,462,084<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Other Customers [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueArrangementLineItems', window );"><strong>Deferred Revenue Arrangement [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CustomerAdvancesAndDeposits', window );">Total</a></td>
        <td class="nump">$ 1,937,418<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="nump">$ 2,016,454<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
      </tr>
      <tr>
        <td colspan="5"></td>
      </tr>
      <tr>
        <td colspan="5">
          <table class="outerFootnotes" width="100%">
            <tr class="outerFootnote">
              <td style="vertical-align: top;" valign="top">[1]</td>
              <td style="vertical-align: top;" valign="top">Pursuant to the terms of the Company's revised supply agreement with this customer the Company will deliver monthly amounts of polysilicon, totaling no less than RMB2.4 million from April 2014 to September 2016, or until such time as the advance has been fully utilized.</td>
            </tr>
          </table>
        </td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CustomerAdvancesAndDeposits">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Refundable consideration, usually cash, held by the entity pending satisfactory completion of the entity's obligations or pending the closing of a contract.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.15a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CustomerAdvancesAndDeposits</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CustomerAdvancesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The current portion of prepayments received from customers for goods or services to be provided in the future.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.20)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CustomerAdvancesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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              </div>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CustomerAdvancesNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The noncurrent portion of prepayments received from customers for goods or services to be provided in the future.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.24)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CustomerAdvancesNoncurrent</nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredRevenueArrangementLineItems</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Balance Type:</strong></td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
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          </td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The floor amount as of the balance sheet date that the entity must expend to satisfy the terms of disclosed arrangements (excluding long-term commitments) in which the entity must commit resources to supply goods or services to one or more customers.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.25)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 25<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 17<br><br> -Article 9<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.17)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.(a)(19))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>58
<FILENAME>R47.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0ELWCI">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Additional Information) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
        <th class="th" colspan="6">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2014</div>
        </th>
        <th class="th">
          <div>Apr. 14, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Common Stock Outstanding [Member]</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014

</div>
          <div>Scenario, Forecast [Member]</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Basis of presentation</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_AverageSellingPriceOfPolysilicon', window );">Average selling price ("ASP") of polysilicon</a></td>
        <td class="nump">21<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">18<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">60<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">22<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_AverageProductionCostOfPolysilicon', window );">Average production cost of polysilicon</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">11<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">11<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Operating loss</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">$ (200,631,180)<span></span></td>
        <td class="num">$ (88,517,894)<span></span></td>
        <td class="nump">$ 50,752,147<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations', window );">Cash flow from operations</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(16,525,817)<span></span></td>
        <td class="num">(10,307,234)<span></span></td>
        <td class="nump">44,857,910<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_WorkingCapital', window );">Working capital</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(207,979,447)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">7,831,084<span></span></td>
        <td class="nump">6,679,024<span></span></td>
        <td class="nump">92,697,098<span></span></td>
        <td class="nump">203,635,798<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBorrowings', window );">Short-term bank borrowings</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">68,821,014<span></span></td>
        <td class="nump">51,273,360<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromShortTermDebt', window );">Proceeds from short-term bank debt</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">11,200,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Proceeds from bank acceptance note credit facility</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">4,800,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtCurrent', window );">Current portion of long-term debt</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">50,049,843<span></span></td>
        <td class="nump">69,006,400<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndInvestmentsAbstract', window );"><strong>Restricted cash</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">8,826,110<span></span></td>
        <td class="nump">10,649,745<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryAdjustmentsAbstract', window );"><strong>Inventories</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryWriteDown', window );">Inventory write-down</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">29,905,734<span></span></td>
        <td class="nump">14,821,620<span></span></td>
        <td class="nump">14,252,701<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseNoncurrentAbstract', window );"><strong>Prepaid land use rights</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeaseAndRentalExpense', window );">Lease Expenses</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">781,706<span></span></td>
        <td class="nump">958,558<span></span></td>
        <td class="nump">166,355<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentChargesAbstract', window );"><strong>Impairment of long-lived assets</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Long-lived asset impairment</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">158,424,827<span></span></td>
        <td class="nump">42,754,481<span></span></td>
        <td class="nump">38,512,376<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown', window );">Impairment charges included in loss from discontinued operations</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">3,844,799<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionAbstract', window );"><strong>Revenue recognition</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherSalesRevenueNet', window );">Revenue of other products</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">32,278,700<span></span></td>
        <td class="nump">19,862,424<span></span></td>
        <td class="nump">36,916,531<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCostsAndDisclosuresAbstract', window );"><strong>Shipping and handling</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShippingHandlingAndTransportationCosts', window );">Shipping and handling costs</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,901,384<span></span></td>
        <td class="nump">1,033,808<span></span></td>
        <td class="nump">1,215,110<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_GovernmentGrantsAndSubsidiesAbstract', window );"><strong>Government subsidies</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_UnrestrictedCashSubsidies', window );">Unrestricted cash government subsidies</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5,249,788<span></span></td>
        <td class="nump">9,250,296<span></span></td>
        <td class="nump">11,484,768<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_GrantsRelatedToAssetsReceived', window );">Government grants related to assets</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,172,160<span></span></td>
        <td class="nump">1,383,487<span></span></td>
        <td class="nump">25,895,226<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_GrantsRecognizedAsOffsetToDepreciation', window );">Government grants recognized as an offset to depreciation expense</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,454,125<span></span></td>
        <td class="nump">764,528<span></span></td>
        <td class="nump">42,047<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherDeferredCreditsNoncurrent', window );">Deferred government subsidies</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">26,954,700<span></span></td>
        <td class="nump">26,472,135<span></span></td>
        <td class="nump">25,853,179<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTranslationAbstract', window );"><strong>Foreign currency translation</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetReportingCurrencyDenominatedValue', window );">Aggregate amount of cash and cash equivalents and restricted cash denominated in RMB</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">11,436,370<span></span></td>
        <td class="nump">11,589,709<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestAbstract', window );"><strong>Noncontrolling interest</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterest', window );">Noncontrolling interest</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">138,772,130<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract', window );"><strong>Treasury Stock</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchaseProgramAuthorizedAmount', window );">Share repurchase program, authorized amount</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockSharesAcquired', window );">Number of shares repurchased</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,836,670<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValueAcquiredParValueMethod', window );">Value of shares repurchased</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 500,724<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 283<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_AverageProductionCostOfPolysilicon">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Average Production Cost Of Polysilicon.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_AverageProductionCostOfPolysilicon</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>us-types:perUnitItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_AverageSellingPriceOfPolysilicon">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Average Selling Price Of Polysilicon.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_AverageSellingPriceOfPolysilicon</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>us-types:perUnitItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_GovernmentGrantsAndSubsidiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_GovernmentGrantsAndSubsidiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_GrantsRecognizedAsOffsetToDepreciation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Grants Recognized As Offset To Depreciation</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_GrantsRecognizedAsOffsetToDepreciation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_GrantsRelatedToAssetsReceived">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Grants Related To Assets Received</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_GrantsRelatedToAssetsReceived</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_UnrestrictedCashSubsidies">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Unrestricted Cash Subsidies</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_UnrestrictedCashSubsidies</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_WorkingCapital">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Working Capital.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_WorkingCapital</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=8077374&amp;loc=d3e2420-110228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetImpairmentCharges</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentChargesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetImpairmentChargesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetReportingCurrencyDenominatedValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The reporting currency-denominated asset value.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -Section S99<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6897108&amp;loc=SL6897125-166521<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetReportingCurrencyDenominatedValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash Equivalents<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3044-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The loss (gain) resulting from the write-down of the carrying value of assets classified as a disposal group, but one which is not further classified as a discontinued operation, to fair value less cost to sell. A (gain) results from a subsequent increase in fair value less cost to sell, but not in excess of the cumulative loss previously recognized. For example, the write-down of a disposal group subject to a plan of sale, which was not sold in the current period, to its held-for-sale value. The loss (gain) is included in income from continuing operations before income taxes in the income statement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTranslationAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ForeignCurrencyTranslationAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryAdjustmentsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryAdjustmentsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryWriteDown">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Charge to cost of goods sold that represents the reduction of the carrying amount of inventory, generally attributable to obsolescence or market conditions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4542-108314<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryWriteDown</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeaseAndRentalExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LeaseAndRentalExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19,20)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 27<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 7<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_MinorityInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3536-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncontrollingInterestAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NoncontrollingInterestAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net result for the period of deducting operating expenses from operating revenues.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherCostsAndDisclosuresAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherCostsAndDisclosuresAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherDeferredCreditsNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date of unearned revenue or income not otherwise specified in the taxonomy which is expected to be taken into income after one year or beyond the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 13<br><br> -Section A<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.26)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 605<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 13.A.Q4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherDeferredCreditsNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherSalesRevenueNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Revenues from the sale of other goods or rendering of other services, not elsewhere specified in the taxonomy; net of (reduced by) sales adjustments, returns, allowances, and discounts.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1(a),(d))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherSalesRevenueNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseNoncurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PrepaidExpenseNoncurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromLinesOfCredit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(f))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph f<br><br> -Article 4<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromLinesOfCredit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromShortTermDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from a borrowing having initial term of repayment within one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromShortTermDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalents">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RestrictedCashAndCashEquivalents</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndInvestmentsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RestrictedCashAndInvestmentsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueRecognitionAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RevenueRecognitionAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShippingHandlingAndTransportationCosts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Cost incurred during the reporting period in transporting goods and services to customers. Includes freight-out costs.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18726-107790<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 605<br><br> -SubTopic 45<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6408196&amp;loc=d3e61069-111654<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Handling Costs<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6514758<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 605<br><br> -SubTopic 45<br><br> -Section 45<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=21915142&amp;loc=d3e60635-111653<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 605<br><br> -SubTopic 45<br><br> -Section S99<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6408413&amp;loc=d3e221937-122793<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Shipping Costs<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6525344<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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                <p>Amount of a stock repurchase plan authorized by an entity's Board of Directors.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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                <p>Number of shares that have been repurchased during the period and are being held in treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
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                <p>Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the par value method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAccountingPoliciesTextBlock', window );">SUMMARY OF PRINCIPAL ACCOUNTING POLICIES</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>2. SUMMARY OF PRINCIPAL ACCOUNTING POLICIES</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(a) Basis of presentation</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The consolidated financial statements of the Group have been prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP").</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The realization of assets and the satisfaction of liabilities in the normal course of business are dependent on, among other things, the Company&#39;s ability to generate cash flows from operations, and the Company&#39;s ability to arrange adequate financing arrangements, including the renewal or rollover of its bank borrowings, to support its working capital requirements.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The following factors raise substantial doubt about the Company&#39;s ability to continue as a going concern for the foreseeable future.</p> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td><font style="FONT-FAMILY: Times New Roman, Times, Serif">The solar industry is being negatively impacted by a number of factors including excess capacity, reduction of government incentives in key solar markets and higher import tariffs. These factors have contributed to declining average selling prices for our products. The average selling price ("ASP") of polysilicon has fallen from about $60 per kilogram ("kg") in 2010 to $18 per kg in 2013.</font> </td> </tr> </table> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td style="FONT-FAMILY: Times New Roman, Times, Serif">For the year ended December 31, 2013, the Company incurred an operating loss of $200,631,180.</td> </tr> </table> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td><font style="FONT-FAMILY: Times New Roman, Times, Serif">During the year December 31, 2013, the Company experienced negative cash flow from operations of $16,525,818, primarily as a result of the net loss incurred by the Company.</font> </td> </tr> </table> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td style="FONT-FAMILY: Times New Roman, Times, Serif">As of December 31, 2013, the Company&#39;s current liabilities exceed its current assets by $207,979,447. While the Company had cash and cash equivalents of $7,831,084, it had short-term borrowings of $68,821,014 all due within one year and the current portion of long-term borrowings amounting to $50,049,843, which is restricted to purchase fixed assets and not expected to be renewed.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> These factors are mitigated by the following actions and plans:</p> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td style="FONT-FAMILY: Times New Roman, Times, Serif">On March 30, 2014, the Company obtained an irrevocable, legally enforceable letter of financial support from Daqo Group which has committed to provide sufficient financial support to the Company to ensure the Company has the funds required to satisfy its obligations as they come due in the normal course during the year ending December 31, 2014. Further, the support letter provides that Daqo Group will not require the Company to pay the amount owed to the Daqo Group and subsidiaries of Daqo Group, Daqo Solar and Xinjiang Daqo Investment as of December 31, 2013, before January 1, 2015.</td> </tr> </table> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td style="FONT-FAMILY: Times New Roman, Times, Serif">The Company has or in the process of taking a number of cost reduction initiatives. For example, the Company has constructed its phase II production facilities in Xinjiang and began commercial production in January 2013. The cash cost to produce polysilicon at the Xinjiang facilities is approximately $11 per kg, which is significantly lower than current ASPs</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td style="FONT-FAMILY: Times New Roman, Times, Serif">The Company has performed a review of its cash flow forecast for the twelve months ending December 31, 2014. The Company believes that its operating cash flow will improve significantly in 2014 and that its operating cash flow will be positive. While management believes the forecast is based on reasonable assumptions, significant assumptions of this forecast include: the ASP is estimated to be approximately $22 per kilogram for the year ending December 31, 2014 and the unit cash cost of Xinjiang will be approximately $11 per kilogram for the year ending December 31, 2014 as a result of the low electricity cost and certain technology improvements. The preliminary results for the first quarter of 2014 shows an increase in the ASP, which increased to $21 per kilogram as of March 31, 2014. This trend is consistent with the Company&#39;s expectation. As of December 31, 2013, the Company has a plan to expand the capacity at the Xinjiang plant and is in the process of relocating significant production assets from Chongqing Daqo to its Xinjiang plant, completion of which is subject to obtaining additional funding.</td> </tr> </table> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td style="FONT-FAMILY: Times New Roman, Times, Serif">While there can be no assurance that the Company will be able to refinance its short-term bank borrowings as they become due, historically, the Company has renewed or rolled over most of its short-term bank loans upon the maturity date of the loans and believes it will continue to be able to do so. From January 1, 2014 to April 14, 2014, the Company rolled over a short-term bank borrowing of $11.2 million and a bank acceptance note credit facility of $4.8 million.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 59pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Based on the above factors, management believes that adequate sources of liquidity will exist to fund the Company&#39;s working capital and capital expenditures requirements, and to meet its short term debt obligations, other liabilities and commitments as they become due.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(b) Basis of consolidation</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The consolidated financial statements include the financial statements of the Group. All intercompany transactions and balances have been eliminated on consolidation.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(c) Use of estimates</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. The company bases its estimates on historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Management has made significant estimates in a variety of areas, including but not limited to allowance for doubtful accounts, inventories valuation, useful lives and residual values of long-lived assets, impairment for long lived assets, consolidation of Daqo New Material, valuation allowances for deferred tax assets, interest capitalization, warranty accrual and certain assumption used in the computation of share-based compensation and related forfeiture rates.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(d) Concentration of credit risk</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivables.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group places its cash and cash equivalents in various financial institutions in the PRC. The Group believes that no significant credit risk exists as these banks are principally government-owned financial institutions with high credit ratings.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Accounts receivable represent those receivables derived in the ordinary course of business. The Group conducts credit evaluations of customers to whom credit terms are extended. The Group establishes an allowance for doubtful accounts mainly based on aging of the receivables and other factors surrounding the credit risk of specific customers. The allowance for doubtful accounts is $1,592,467 and $7,160,782 as of December&nbsp;31, 2012 and 2013, respectively, based on the aging of the receivables and the Company&#39;s assessment of the customers&#39; credit risk.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The following customers accounted for 10% or more of accounts receivable:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="6"><strong>December&nbsp;31,</strong></td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> <p style="BORDER-BOTTOM: black 0.75pt solid; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Accounts<br /> receivable</strong></p> </td> <td>&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="2"><strong>2012</strong></td> <td>&nbsp;</td> <td>&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="2"><strong>2013</strong></td> <td>&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"> Customer A</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 12,529,889</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> *</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"> Customer D</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right"> 3,568,910</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right"><font style="FONT: 10pt Times New Roman, Times, Serif">3,673,455</font> </td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"> Customer C</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> *</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 1,225,831</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"> Customer K</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> -</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 1,507,576</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <!-- Field: Rule-Page --> <div style="BORDER-TOP: black 1pt solid; FONT-SIZE: 1pt; MARGIN-BOTTOM: 1pt; MARGIN-TOP: 3pt; text-align: left; WIDTH: 20%"> &nbsp;</div> <!-- Field: /Rule-Page --> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"> *</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 97%"> Represents less than 10%</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Sales of polysilicon to the Group&#39;s largest customers whose sales constitute over 10% of revenue accounted for approximately 50%, 25% and 30% of revenues for the years ended December&nbsp;31, 2011, 2012 and 2013, respectively. The Group was substantially dependent upon the continued participation of these customers in order to maintain its total revenues. Significantly reducing the Group&#39;s dependence on these customers is likely to take time and there can be no guarantee that the Group will succeed in reducing that dependence.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Furthermore, all of the Company&#39;s long-term borrowings are guaranteed by Daqo Group, our related party, who has also committed to provide financial support to meet the Company&#39;s short term borrowings obligations, other liabilities and commitments as they become due (see Note 2(a)). The Company&#39;s access to credit is significantly reliant on Daqo Group&#39;s ability and willingness to continue to provide sufficient financial support.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(e) Cash and cash equivalents</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Cash and cash equivalents consist of cash on hand and demand deposits, which are unrestricted as to withdrawal and use, and which have maturities of three months or less when purchased.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(f) Restricted cash</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Restricted cash amounted to $10,649,745 and $8,826,110 as of December&nbsp;31, 2012 and 2013, respectively, and are deposited in bank accounts as deposits for short-term letters of credit and notes issued by several banks for purchases of raw materials, plant and equipment. These deposits carry fixed interest rates and will be released when the related letters of credit or notes are settled by the Group. The Group considers the restricted cash balances as equivalent to an investment whose return of principal requires the satisfaction of conditions (i.e., settlement of letters of credit or notes) rather than a withdrawal demand. Therefore, deposits and withdrawals of principal balances in restricted cash accounts represent the creation or return of investment and, accordingly, the Group has presented such deposits and withdrawals as investing activities in the consolidated statements of cash flows.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(g) Allowance for Doubtful Accounts</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group determines its allowance for doubtful accounts by actively monitoring the financial condition of its customers to determine the potential for any nonpayment of trade receivables. In determining its allowance for doubtful accounts, the Group also considers other economic factors, such as aging trends. The Group believes that its process of specific review of customers combined with overall analytical review provides an effective evaluation of ultimate collectability of trade receivables.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(h) Inventories</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Inventories are stated at lower of cost or market. Costs are determined using weighted average costs. Costs comprise direct materials, direct labor and overhead costs incurred in bringing the inventories to their present location and condition. The Group writes down the cost of excess inventories to the estimated market value based on historical and forecasted demand. Estimated market value is measured as the estimated selling price of each class of inventory in the ordinary course of business less estimated costs of completion and disposal. The charges to inventory for the years ended December&nbsp;31, 2011, 2012 and 2013 were $14,252,701, $ 14,821,620 and $29,905,734, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group has outsourced portions of its manufacturing process, including cutting ingots into wafers, and converting wafers into solar cells, to various third-party manufacturers. These outsourcing arrangements may or may not include transfer of title of the raw material inventory (ingots, wafers or cells) to the third-party manufacturers.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> For those outsourcing arrangements in which title does not transfer, the Group maintains the inventory in the balance sheet as raw materials inventory while it is in physical possession of the third-party manufacturers. Upon receipt of the processed inventory from the third-party manufacturers, it is reclassified to work-in-progress inventory with the processing fee capitalized as cost of inventory.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> For those outsourcing arrangements in which title (including risk of loss) does transfer to the third-party manufacturer, the Group is contractually obligated to repurchase the processed inventory. To accomplish this, it enters into raw material sales agreements and processed inventory purchase agreements simultaneously with the third-party manufacturer. In such instances, where they are, in substance tolling arrangements, the Group retains the inventory in the consolidated balance sheets while it is in the physical possession of the third-party manufacturer. The cash received from the third-party manufacturer is recorded as a current liability on the balance sheet rather than revenue or deferred revenue. Upon receipt of the processed inventory, it is reclassified from raw materials to work-in-progress inventory and the processing fee paid to the third-party manufacturer is added to inventory cost. Cash payments for outsourcing arrangements which require prepayment for repurchase of the processed inventory are classified as current assets on the balance sheet. If there is no legal right of offset established by these arrangements, the associated assets and liabilities are presented separately on the balance sheet until the processed inventory is returned to the Group.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(i) Property, plant and equipment</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Property, plant and equipment are recorded at cost less accumulated depreciation. Depreciation is recognized on a straight-line basis over the following estimated useful lives:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.6in" cellspacing="0" cellpadding="0"> <tr> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 82%"> Buildings and plant</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; WIDTH: 18%"> 20&nbsp;years</td> </tr> <tr> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> Machinery and equipment</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 10 years</td> </tr> <tr> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> Furniture, fixtures and equipment</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 3-5&nbsp;years</td> </tr> <tr> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> Motor vehicles</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 6 years</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Costs incurred on construction are capitalized and transferred to property, plant and equipment upon completion, at which time depreciation commences.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Interest expense incurred for construction of property, plant, and equipment is capitalized as part of the cost of such assets. The Company capitalizes interest to the extent that expenditures to construct an asset have occurred and interest costs have been incurred. Interest expense capitalized for the years ended December&nbsp;31, 2011, 2012 and 2013 was $3,429,496, $7,245,747 and $nil, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(j) Prepaid land use rights</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> All land in the PRC is owned by the PRC government. The PRC government, according to PRC law, may sell the land use rights for a specified period of time. The Group&#39;s land use rights in the PRC are stated at cost less recognized lease expenses. Lease expense is recognized over the term of the agreement on a straight-line basis. The Group recorded lease expenses of $166,355, $958,558 and $ 781,706, for the years ended December&nbsp;31, 2011, 2012 and 2013, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(k) Impairment of long-lived assets</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group evaluates its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Factors that the Group considers in deciding when to perform an impairment review include, but are not limited to significant under-performance of a business or product line in relation to expectations, significant negative industry or economic trends, and significant changes or planed changes in the use of the assets. An impairment analysis is performed at the lowest level of identifiable independent cash flows for an asset or asset group. The Group makes subjective judgments in determining the independent cash flows that can be related to a specific asset group based on the asset usage model and manufacturing capabilities. The Group measures the recoverability of assets that will continue to be used in the operations by comparing the carrying value of the asset group to the estimate of the related total future undiscounted cash flows. If an asset group&#39;s carrying value is not recoverable through the related undiscounted cash flows, the impairment loss is measured by comparing the difference between the asset group&#39;s carrying value and its fair value. The Group determines the fair value of an asset or asset group utilizing estimated future discounted cash flows and incorporates assumptions that it believes marketplace participants would utilize. The impairment charges for the years ended December&nbsp;31, 2011, 2012 and 2013 were $38,512,376 (among which $3,844,799 was included in loss from discontinued operations), $42,754,481 and $158,424,827, respectively.&nbsp;The impairment loss incurred in fiscal year 2012 was related to the impairment of long-lived assets of the wafer business, and was triggered primarily by the significant decrease in average selling prices for wafers that was experienced in 2012. The impairment loss incurred in fiscal year 2013 was related to the buildings and plant in Chongqing Daqo and Daqo New Material, and was triggered primarily by the significant decrease in average selling prices for polysilicon and the Group&#39;s decision of relocating significant machinery and equipment located at Chongqing Daqo to Xinjiang Daqo as a part of its expansion plan.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(l) Revenue recognition</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> <u>Product sales</u></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group recognizes revenue when persuasive evidence of an arrangement exists, the sales price is fixed or determinable, delivery of the product has occurred, title and risk of loss have transferred to the customers and collectability of the receivable is reasonably assured. The majority of the sales contracts transfer title and risk of loss to customers upon receipt. Sales agreements for polysilicon and wafers typically do not contain product warranties except for return and replacement of defective products within a period generally ranging from 3 to 30 days from delivery. Sales agreements typically do not contain post-shipment obligations or other return or credit provisions. The Group may extend credit terms after assessing a number of factors to determine the customers&#39; credit worthiness.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group sold approximately $36,916,531, $19,862,424 and $32,278,700 in photovoltaic wafers and cells in 2011, 2012 and 2013, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Customers frequently pay for products prior to the delivery of the products. Advance payments are recorded as advances from customers.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> <u>Service revenue</u></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Company also provides OEM services to customers and recognizes revenue when there is persuasive evidence of an arrangement, the service has been rendered, the sales price is fixed or determinable and collectability is reasonably assured.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(m) Cost of revenues</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Cost of revenues consists of production related costs including costs of silicon raw materials, electricity and other utilities, consumables, direct labor, overhead costs, depreciation of property, plant and equipment, and manufacturing waste treatment processing fees.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(n) Shipping and handling</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Costs to ship products to customers are recorded as selling expenses in the consolidated statements of operations. Costs to ship products to customers were $1,215,110, $1,033,808 and $1,901,384 respectively for the years ended December&nbsp;31, 2011, 2012 and 2013.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(o) Research and development expenses</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Research and development expenses include materials and utilities consumed in research and development activities, payroll and related costs and depreciation of property and equipment associated with the research and development activities, which are expensed when incurred. In the years ended December 31, 2012 and 2013, the Company incurred additional research and development expenses for its Xinjiang Phase II polysilicon facilities to achieve the targets for quality, capacity and cost during the pilot production period.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(p) Government subsidies</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group receives unrestricted cash subsidies from local government agencies. The government agencies use their discretion to determine the amount of the subsidies with reference to land use right fees, value-added tax and income taxes paid, bank loan interest expenses paid or electricity consumed by the Group, however, these subsidies do not represent tax refunds or reimbursements of expenditures. The subsidies are unrestricted as to use and can be utilized by the Group in any manner it deems appropriate. The Group has utilized, and expects to continue to utilize, these subsidies to fund general operating expenses. The Group records unrestricted cash government subsidies as other operating income in the consolidated statements of operations. Unrestricted cash government subsidies received for the years ended December&nbsp;31, 2011, 2012 and 2013 were $11,484,768, $9,250,296 and $5,249,788, respectively.&nbsp;Government grants related to assets are recorded as long term liabilities and are recognized as an offset to depreciation expense on a straight-line basis over the useful life of the associated asset. The Company received government grants related to assets of $25,895,226, $1,383,487 and $1,172,160 during the years ended December&nbsp;31, 2011, 2012 and 2013, respectively, and recognized $42,047, $764,528 and $ 1,454,125 as an offset to depreciation expense for the years ended December&nbsp;31, 2011, 2012 and 2013, respectively. The Company had deferred government grants related to assets of $25,853,179, $26,472,137 and $26,954,700 as of December&nbsp;31, 2011, 2012 and 2013, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(q) Income taxes</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Deferred income taxes are recognized for temporary differences between the tax bases of assets and liabilities and their reported amount in the consolidated financial statements, net operating loss carry-forwards and credits by applying enacted tax rates applicable to future years. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided in accordance with the laws of the relevant taxing authorities. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in which temporary differences are expected to be realized or settled. The effect on deferred tax assets and liabilities of changes in tax rates is recognized in the statement of operations in the period of the enactment of the change. The components of the deferred tax assets and liabilities are individually classified as current and non-current based on the characteristics of the underlying assets and liabilities, or the expected timing of their use when they do not relate to a specific asset or liability.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(r) Share-based compensation</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group recognizes share-based compensation in the statement of operations based on the fair value of equity awards on the date of the grant, with compensation expense recognized over the period in which the grantee is required to provide service to the Group in exchange for the equity award. The Group has made an estimate of expected forfeiture and is recognizing compensation costs only for those equity awards expected to vest. The share-based compensation expenses have been categorized as either selling, general and administrative expenses, research and development expenses and cost of sales, depending on the job functions of the grantees. For the years ended December&nbsp;31, 2011, 2012 and 2013, the Group recognized share-based compensation expense of $2,206,025, $2,249,834 and $1,881,401 respectively, which was classified as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2011</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 61%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Selling, general and administrative expenses</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">2,068,115</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">2,018,817</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">1,743,768</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Research and development expenses</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">75,508</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">175,242</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">60,987</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Cost of sales</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 62,402</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 55,775</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 76,646</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 2,206,025</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 2,249,834</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 1,881,401</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(s) Earnings (loss) per share</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Basic earnings (loss) per ordinary share are computed by dividing the net income (loss) attributable to ordinary shares by the weighted average number of ordinary shares outstanding during the year.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Diluted earnings per share is calculated by dividing net income attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary shares and dilutive ordinary share equivalents outstanding during the year. Diluted earnings per share is computed using the treasury stock method. During the years ended December&nbsp;31, 2011, 2012 and 2013, there are no ordinary shares issuable upon the exercise of outstanding share options included in the calculation of dilutive earnings per share as they were anti-dilutive.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(t) Foreign currency translation</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The reporting currency of the Group is the United States dollar ("U.S. dollar"). The functional currency of the Company is the U.S. dollar. Monetary assets and liabilities denominated in other currencies other than the U.S. dollar are translated into U.S. dollar at the rates of exchange in effect at the balance sheet dates. Transactions dominated in currencies other than the U.S. dollar during the year are converted into U.S. dollar at the applicable rates of exchange prevailing when the transactions occur. Transaction gains and losses are recorded in the statements of operations.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The financial records of the Company&#39;s PRC subsidiaries and VIE are maintained in Chinese Renminbi ("RMB"), which is their functional currency. Assets and liabilities are translated at the exchange rates at the balance sheet date. Equity accounts are translated at historical exchange rates. Revenues, expenses, gains and losses are translated at average rate of exchange prevailing during the periods presented. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive income in the statement of changes in equity and comprehensive income.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The RMB is not a freely convertible currency. The State Administration for Foreign Exchange of People&#39;s Republic of China, under the authority of the People&#39;s Bank of China, controls the conversion of RMB into foreign currencies. The value of the RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China foreign exchange trading system market. The Group&#39;s aggregate amount of cash and cash equivalents and restricted cash denominated in RMB amounted to $11,589,709 and $11,436,370 as of December&nbsp;31, 2012 and 2013, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(u) Comprehensive income (loss)</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Our financial statements include the Consolidated Statements of Comprehensive Income (Loss) as required by new accounting guidance, which we early adopted during 2010. As of December 31, 2012 and 2013, Accumulated Other Comprehensive Income was comprised entirely of foreign currency translation adjustments.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(v) Fair value of financial instruments</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Company estimates fair value of financial assets and liabilities as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (also referred to as an exit price). The fair value measurement guidance establishes a hierarchy for inputs used in measuring fair value that gives the highest priority to observable inputs and the lowest priority to unobservable inputs. Valuation techniques used to measure fair value shall maximize the use of observable inputs.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr> <td style="WIDTH: 4%">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 3%"> &bull;</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: top">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 92%"> Level 1-Valuation techniques in which all significant inputs are unadjusted quoted prices from active markets for assets or liabilities that are identical to the assets or liabilities being measured.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr> <td style="WIDTH: 4%">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 3%"> &bull;</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: top">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 92%"> Level 2-Valuation techniques in which significant inputs include quoted prices from active markets for assets or liabilities that are similar to the assets or liabilities being measured and/or quoted prices for assets or liabilities that are identical or similar to the assets or liabilities being measured from markets that are not active. Also, model-derived valuations in which all significant inputs and significant value drivers are observable in active markets are Level 2 valuation techniques.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr> <td style="WIDTH: 4%">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 3%"> &bull;</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: top">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 92%"> Level 3-Valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are valuation technique inputs that reflect the Group&#39;s own assumptions about the assumptions that market participants would use to price an asset or liability.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> When available, the Group measures the fair value of financial instruments based on quoted market prices in active markets, valuation techniques that use observable market-based inputs or unobservable inputs that are corroborated by market data. Pricing information the Group obtains from third parties is internally validated for reasonableness prior to use in the consolidated financial statements. When observable market prices are not readily available, the Group generally estimates fair value using valuation techniques that rely on alternate market data or inputs that are generally less readily observable from objective sources and are estimated based on pertinent information available at the time of the applicable reporting periods. In certain cases, fair values are not subject to precise quantification or verification and may fluctuate as economic and market factors vary and the Group&#39;s evaluation of those factors changes. Although the Group uses its best judgment in estimating the fair value of these financial instruments, there are inherent limitations in any estimation technique. In these cases, a minor change in an assumption could result in a significant change in its estimate of fair value, thereby increasing or decreasing the amounts of the Group&#39;s consolidated assets, liabilities, shareholders&#39; equity and net income or loss.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group&#39;s financial instruments include cash and cash equivalents, restricted cash, accounts receivable, other current assets, amount due from related parties, accounts payable, other current liabilities, payables for purchase of property, plant and equipment, amounts due to related parties and short-term and current portion of long-term borrowings. The carrying amounts of these short-term financial instruments approximate their fair values due to the short-term maturity of these instruments.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The fair values of the Company&#39;s non-current portion of payables for purchase of property, plant and equipment and long-term bank borrowings as of December&nbsp;31, 2012 and 2013 are estimated by discounted cash flow technique using an interest rate corresponding to debt with similar maturities and risks on the measurement date.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> <strong>&nbsp;</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(w) Variable Interest Entity</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Company uses a qualitative approach in assessing the consolidation requirement for variable interest entities. The approach focuses on identifying which enterprise has the power to direct the activities that most significantly impact the variable interest entity&#39;s economic performance and which enterprise has the obligation to absorb losses or the right to receive benefits from the variable interest entity. In the event that the Company is the primary beneficiary of a variable interest entity, the assets, liabilities, and results of operations of the variable interest entity will be included in the Company&#39;s Consolidated Financial Statements.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(x) Noncontrolling interest</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The noncontrolling interest represents Daqo Group&#39;s equity interest in Daqo New Material. The Group classified the ownership interest in the consolidated entity held by a party other than the Company to noncontrolling interest in the consolidated financial statements. It also reported the consolidated net income at amounts that include the amounts attributable to both the parent and the noncontrolling interest on the face of the consolidated statements of operations and comprehensive income. On December 31, 2013, Daqo New Material was deconsolidated, therefore the noncontrolling interest was $nil as of December 31, 2013.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(y) Treasury Stock</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> On July 9, 2012, the Company&#39;s Board of Directors authorized the Company to repurchase up to $5 million in aggregate value of its outstanding ordinary shares through open market or other legally permissible means prior to December 31, 2012 in accordance with applicable securities laws.. During the year ended December 31, 2012, the Company repurchased 2,836,670 shares for a total purchase price of $500,724. The Company has legal title to the shares, and no other party has the voting rights associated with these shares.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>&nbsp;</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(z) Recent accounting pronouncements</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In July 2013, the FASB issued a pronouncement which provides guidance on financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The FASB&#39;s objective in issuing this ASU is to eliminate diversity in practice resulting from a lack of guidance on this topic in current U.S. GAAP. The amendments in this ASU state that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This ASU applies to all entities that have unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted.</p> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for all significant accounting policies of the reporting entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18726-107790<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18861-107790<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18743-107790<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18854-107790<br><br><br><br></p>
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                    <td>us-gaap_</td>
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                    <td>nonnum:textBlockItemType</td>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EH3AG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Long-lived asset impairment</a></td>
        <td class="nump">$ 158,424,827<span></span></td>
        <td class="nump">$ 42,754,481<span></span></td>
        <td class="nump">$ 38,512,376<span></span></td>
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          <div class="a">Carrying Value [Member]</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtFairValue', window );">Long-term bank borrowing</a></td>
        <td class="nump">134,870,287<span></span></td>
        <td class="nump">187,520,880<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableFairValueDisclosure', window );">Payables for purchase of property, plant and equipment</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">1,126,255<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentFairValueDisclosure', window );">Long-lived assets held and used</a></td>
        <td class="nump">307,942,362<span></span></td>
        <td class="nump">53,287,118<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Fair Value [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtFairValue', window );">Long-term bank borrowing</a></td>
        <td class="nump">124,047,823<span></span></td>
        <td class="nump">166,148,388<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableFairValueDisclosure', window );">Payables for purchase of property, plant and equipment</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">1,014,716<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentFairValueDisclosure', window );">Long-lived assets held and used</a></td>
        <td class="nump">150,000,000<span></span></td>
        <td class="nump">10,500,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Daqo New Material Co., Ltd. [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Long-lived asset impairment</a></td>
        <td class="nump">143,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Nonrecurring [Member]</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentFairValueDisclosure', window );">Long-lived assets held and used</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Nonrecurring [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentFairValueDisclosure', window );">Long-lived assets held and used</a></td>
        <td class="nump">149,517,535<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentFairValueDisclosure', window );">Long-lived assets held and used</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">$ 10,532,637<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableFairValueDisclosure">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Fair value portion of liabilities incurred for goods and services received that are used in an entity's business and related party payables.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 14<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13487-108611<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 8<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsPayableFairValueDisclosure</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td>xbrli:monetaryItemType</td>
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                    <td>credit</td>
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                    <td>instant</td>
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          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=8077374&amp;loc=d3e2420-110228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetImpairmentCharges</nobr></td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems</nobr></td>
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                    <td>na</td>
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                    <td>duration</td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtFairValue</nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Fair value portion of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=25499696&amp;loc=d3e19190-110258<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
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    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>EARNINGS PER SHARE (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>EARNINGS PER SHARE [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock', window );">Schedule of Calculation of Earnings Per Share</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The calculation of earnings per share is as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2011</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Numerator used in basic and diluted earnings per share:</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="WIDTH: 61%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders-basic and diluted</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 33,323,952</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (111,928,891</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (70,943,484</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Denominator used in basic and diluted earnings per share:</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt">Share options</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Weighted average number of ordinary shares outstanding used in computing earnings per share-basic and diluted</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 175,714,103</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 175,067,343</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 173,068,420</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">NET INCOME (LOSS) ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE-Basic and Diluted</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 0.19</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (0.64</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (0.41</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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                <p>Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.</p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EFRAE">
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          <div style="width: 200px;"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Policies)<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BasisOfAccountingPolicyPolicyTextBlock', window );">Basis of presentation</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(a) Basis of presentation</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The consolidated financial statements of the Group have been prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP").</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The realization of assets and the satisfaction of liabilities in the normal course of business are dependent on, among other things, the Company&#39;s ability to generate cash flows from operations, and the Company&#39;s ability to arrange adequate financing arrangements, including the renewal or rollover of its bank borrowings, to support its working capital requirements.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The following factors raise substantial doubt about the Company&#39;s ability to continue as a going concern for the foreseeable future.</p> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td><font style="FONT-FAMILY: Times New Roman, Times, Serif">The solar industry is being negatively impacted by a number of factors including excess capacity, reduction of government incentives in key solar markets and higher import tariffs. These factors have contributed to declining average selling prices for our products. The average selling price ("ASP") of polysilicon has fallen from about $60 per kilogram ("kg") in 2010 to $18 per kg in 2013.</font> </td> </tr> </table> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td style="FONT-FAMILY: Times New Roman, Times, Serif">For the year ended December 31, 2013, the Company incurred an operating loss of $200,631,180.</td> </tr> </table> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td><font style="FONT-FAMILY: Times New Roman, Times, Serif">During the year December 31, 2013, the Company experienced negative cash flow from operations of $16,525,818, primarily as a result of the net loss incurred by the Company.</font> </td> </tr> </table> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td style="FONT-FAMILY: Times New Roman, Times, Serif">As of December 31, 2013, the Company&#39;s current liabilities exceed its current assets by $207,979,447. While the Company had cash and cash equivalents of $7,831,084, it had short-term borrowings of $68,821,014 all due within one year and the current portion of long-term borrowings amounting to $50,049,843, which is restricted to purchase fixed assets and not expected to be renewed.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> These factors are mitigated by the following actions and plans:</p> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td style="FONT-FAMILY: Times New Roman, Times, Serif">On March 30, 2014, the Company obtained an irrevocable, legally enforceable letter of financial support from Daqo Group which has committed to provide sufficient financial support to the Company to ensure the Company has the funds required to satisfy its obligations as they come due in the normal course during the year ending December 31, 2014. Further, the support letter provides that Daqo Group will not require the Company to pay the amount owed to the Daqo Group and subsidiaries of Daqo Group, Daqo Solar and Xinjiang Daqo Investment as of December 31, 2013, before January 1, 2015.</td> </tr> </table> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td style="FONT-FAMILY: Times New Roman, Times, Serif">The Company has or in the process of taking a number of cost reduction initiatives. For example, the Company has constructed its phase II production facilities in Xinjiang and began commercial production in January 2013. The cash cost to produce polysilicon at the Xinjiang facilities is approximately $11 per kg, which is significantly lower than current ASPs</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td style="FONT-FAMILY: Times New Roman, Times, Serif">The Company has performed a review of its cash flow forecast for the twelve months ending December 31, 2014. The Company believes that its operating cash flow will improve significantly in 2014 and that its operating cash flow will be positive. While management believes the forecast is based on reasonable assumptions, significant assumptions of this forecast include: the ASP is estimated to be approximately $22 per kilogram for the year ending December 31, 2014 and the unit cash cost of Xinjiang will be approximately $11 per kilogram for the year ending December 31, 2014 as a result of the low electricity cost and certain technology improvements. The preliminary results for the first quarter of 2014 shows an increase in the ASP, which increased to $21 per kilogram as of March 31, 2014. This trend is consistent with the Company&#39;s expectation. As of December 31, 2013, the Company has a plan to expand the capacity at the Xinjiang plant and is in the process of relocating significant production assets from Chongqing Daqo to its Xinjiang plant, completion of which is subject to obtaining additional funding.</td> </tr> </table> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 41pt">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 18pt">&middot;</td> <td style="FONT-FAMILY: Times New Roman, Times, Serif">While there can be no assurance that the Company will be able to refinance its short-term bank borrowings as they become due, historically, the Company has renewed or rolled over most of its short-term bank loans upon the maturity date of the loans and believes it will continue to be able to do so. From January 1, 2014 to April 14, 2014, the Company rolled over a short-term bank borrowing of $11.2 million and a bank acceptance note credit facility of $4.8 million.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 59pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Based on the above factors, management believes that adequate sources of liquidity will exist to fund the Company&#39;s working capital and capital expenditures requirements, and to meet its short term debt obligations, other liabilities and commitments as they become due.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConsolidationPolicyTextBlock', window );">Basis of consolidation</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(b) Basis of consolidation</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The consolidated financial statements include the financial statements of the Group. All intercompany transactions and balances have been eliminated on consolidation.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of estimates</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(c) Use of estimates</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. The company bases its estimates on historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Management has made significant estimates in a variety of areas, including but not limited to allowance for doubtful accounts, inventories valuation, useful lives and residual values of long-lived assets, impairment for long lived assets, consolidation of Daqo New Material, valuation allowances for deferred tax assets, interest capitalization, warranty accrual and certain assumption used in the computation of share-based compensation and related forfeiture rates.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskCreditRisk', window );">Concentration of credit risk</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(d) Concentration of credit risk</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivables.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group places its cash and cash equivalents in various financial institutions in the PRC. The Group believes that no significant credit risk exists as these banks are principally government-owned financial institutions with high credit ratings.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Accounts receivable represent those receivables derived in the ordinary course of business. The Group conducts credit evaluations of customers to whom credit terms are extended. The Group establishes an allowance for doubtful accounts mainly based on aging of the receivables and other factors surrounding the credit risk of specific customers. The allowance for doubtful accounts is $1,592,467 and $7,160,782 as of December&nbsp;31, 2012 and 2013, respectively, based on the aging of the receivables and the Company&#39;s assessment of the customers&#39; credit risk.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The following customers accounted for 10% or more of accounts receivable:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="6"><strong>December&nbsp;31,</strong></td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> <p style="BORDER-BOTTOM: black 0.75pt solid; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Accounts<br /> receivable</strong></p> </td> <td>&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="2"><strong>2012</strong></td> <td>&nbsp;</td> <td>&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="2"><strong>2013</strong></td> <td>&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"> Customer A</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 12,529,889</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> *</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"> Customer D</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right"> 3,568,910</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right"><font style="FONT: 10pt Times New Roman, Times, Serif">3,673,455</font> </td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"> Customer C</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> *</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 1,225,831</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"> Customer K</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> -</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 1,507,576</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <!-- Field: Rule-Page --> <div style="BORDER-TOP: black 1pt solid; FONT-SIZE: 1pt; MARGIN-BOTTOM: 1pt; MARGIN-TOP: 3pt; text-align: left; WIDTH: 20%"> &nbsp;</div> <!-- Field: /Rule-Page --> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"> *</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 97%"> Represents less than 10%</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Sales of polysilicon to the Group&#39;s largest customers whose sales constitute over 10% of revenue accounted for approximately 50%, 25% and 30% of revenues for the years ended December&nbsp;31, 2011, 2012 and 2013, respectively. The Group was substantially dependent upon the continued participation of these customers in order to maintain its total revenues. Significantly reducing the Group&#39;s dependence on these customers is likely to take time and there can be no guarantee that the Group will succeed in reducing that dependence.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Furthermore, all of the Company&#39;s long-term borrowings are guaranteed by Daqo Group, our related party, who has also committed to provide financial support to meet the Company&#39;s short term borrowings obligations, other liabilities and commitments as they become due (see Note 2(a)). The Company&#39;s access to credit is significantly reliant on Daqo Group&#39;s ability and willingness to continue to provide sufficient financial support.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock', window );">Cash and cash equivalents</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(e) Cash and cash equivalents</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Cash and cash equivalents consist of cash on hand and demand deposits, which are unrestricted as to withdrawal and use, and which have maturities of three months or less when purchased.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy', window );">Restricted cash</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(f) Restricted cash</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Restricted cash amounted to $10,649,745 and $8,826,110 as of December&nbsp;31, 2012 and 2013, respectively, and are deposited in bank accounts as deposits for short-term letters of credit and notes issued by several banks for purchases of raw materials, plant and equipment. These deposits carry fixed interest rates and will be released when the related letters of credit or notes are settled by the Group. The Group considers the restricted cash balances as equivalent to an investment whose return of principal requires the satisfaction of conditions (i.e., settlement of letters of credit or notes) rather than a withdrawal demand. Therefore, deposits and withdrawals of principal balances in restricted cash accounts represent the creation or return of investment and, accordingly, the Group has presented such deposits and withdrawals as investing activities in the consolidated statements of cash flows.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy', window );">Allowance for Doubtful Accounts</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(g) Allowance for Doubtful Accounts</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group determines its allowance for doubtful accounts by actively monitoring the financial condition of its customers to determine the potential for any nonpayment of trade receivables. In determining its allowance for doubtful accounts, the Group also considers other economic factors, such as aging trends. The Group believes that its process of specific review of customers combined with overall analytical review provides an effective evaluation of ultimate collectability of trade receivables.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryPolicyTextBlock', window );">Inventories</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(h) Inventories</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Inventories are stated at lower of cost or market. Costs are determined using weighted average costs. Costs comprise direct materials, direct labor and overhead costs incurred in bringing the inventories to their present location and condition. The Group writes down the cost of excess inventories to the estimated market value based on historical and forecasted demand. Estimated market value is measured as the estimated selling price of each class of inventory in the ordinary course of business less estimated costs of completion and disposal. The charges to inventory for the years ended December&nbsp;31, 2011, 2012 and 2013 were $14,252,701, $ 14,821,620 and $29,905,734, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group has outsourced portions of its manufacturing process, including cutting ingots into wafers, and converting wafers into solar cells, to various third-party manufacturers. These outsourcing arrangements may or may not include transfer of title of the raw material inventory (ingots, wafers or cells) to the third-party manufacturers.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> For those outsourcing arrangements in which title does not transfer, the Group maintains the inventory in the balance sheet as raw materials inventory while it is in physical possession of the third-party manufacturers. Upon receipt of the processed inventory from the third-party manufacturers, it is reclassified to work-in-progress inventory with the processing fee capitalized as cost of inventory.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> For those outsourcing arrangements in which title (including risk of loss) does transfer to the third-party manufacturer, the Group is contractually obligated to repurchase the processed inventory. To accomplish this, it enters into raw material sales agreements and processed inventory purchase agreements simultaneously with the third-party manufacturer. In such instances, where they are, in substance tolling arrangements, the Group retains the inventory in the consolidated balance sheets while it is in the physical possession of the third-party manufacturer. The cash received from the third-party manufacturer is recorded as a current liability on the balance sheet rather than revenue or deferred revenue. Upon receipt of the processed inventory, it is reclassified from raw materials to work-in-progress inventory and the processing fee paid to the third-party manufacturer is added to inventory cost. Cash payments for outsourcing arrangements which require prepayment for repurchase of the processed inventory are classified as current assets on the balance sheet. If there is no legal right of offset established by these arrangements, the associated assets and liabilities are presented separately on the balance sheet until the processed inventory is returned to the Group.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock', window );">Property, plant and equipment</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(i) Property, plant and equipment</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Property, plant and equipment are recorded at cost less accumulated depreciation. Depreciation is recognized on a straight-line basis over the following estimated useful lives:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.6in" cellspacing="0" cellpadding="0"> <tr> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 82%"> Buildings and plant</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; WIDTH: 18%"> 20&nbsp;years</td> </tr> <tr> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> Machinery and equipment</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 10 years</td> </tr> <tr> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> Furniture, fixtures and equipment</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 3-5&nbsp;years</td> </tr> <tr> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> Motor vehicles</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 6 years</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Costs incurred on construction are capitalized and transferred to property, plant and equipment upon completion, at which time depreciation commences.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Interest expense incurred for construction of property, plant, and equipment is capitalized as part of the cost of such assets. The Company capitalizes interest to the extent that expenditures to construct an asset have occurred and interest costs have been incurred. Interest expense capitalized for the years ended December&nbsp;31, 2011, 2012 and 2013 was $3,429,496, $7,245,747 and $nil, respectively.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_PrepaidLandUseRightsPolicyTextBlock', window );">Prepaid land use rights</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(j) Prepaid land use rights</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> All land in the PRC is owned by the PRC government. The PRC government, according to PRC law, may sell the land use rights for a specified period of time. The Group&#39;s land use rights in the PRC are stated at cost less recognized lease expenses. Lease expense is recognized over the term of the agreement on a straight-line basis. The Group recorded lease expenses of $166,355, $958,558 and $ 781,706, for the years ended December&nbsp;31, 2011, 2012 and 2013, respectively.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock', window );">Impairment of long-lived assets</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(k) Impairment of long-lived assets</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group evaluates its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Factors that the Group considers in deciding when to perform an impairment review include, but are not limited to significant under-performance of a business or product line in relation to expectations, significant negative industry or economic trends, and significant changes or planed changes in the use of the assets. An impairment analysis is performed at the lowest level of identifiable independent cash flows for an asset or asset group. The Group makes subjective judgments in determining the independent cash flows that can be related to a specific asset group based on the asset usage model and manufacturing capabilities. The Group measures the recoverability of assets that will continue to be used in the operations by comparing the carrying value of the asset group to the estimate of the related total future undiscounted cash flows. If an asset group&#39;s carrying value is not recoverable through the related undiscounted cash flows, the impairment loss is measured by comparing the difference between the asset group&#39;s carrying value and its fair value. The Group determines the fair value of an asset or asset group utilizing estimated future discounted cash flows and incorporates assumptions that it believes marketplace participants would utilize. The impairment charges for the years ended December&nbsp;31, 2011, 2012 and 2013 were $38,512,376 (among which $3,844,799 was included in loss from discontinued operations), $42,754,481 and $158,424,827, respectively.&nbsp;The impairment loss incurred in fiscal year 2012 was related to the impairment of long-lived assets of the wafer business, and was triggered primarily by the significant decrease in average selling prices for wafers that was experienced in 2012. The impairment loss incurred in fiscal year 2013 was related to the buildings and plant in Chongqing Daqo and Daqo New Material, and was triggered primarily by the significant decrease in average selling prices for polysilicon and the Group&#39;s decision of relocating significant machinery and equipment located at Chongqing Daqo to Xinjiang Daqo as a part of its expansion plan.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionPolicyTextBlock', window );">Revenue recognition</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(l) Revenue recognition</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> <u>Product sales</u></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group recognizes revenue when persuasive evidence of an arrangement exists, the sales price is fixed or determinable, delivery of the product has occurred, title and risk of loss have transferred to the customers and collectability of the receivable is reasonably assured. The majority of the sales contracts transfer title and risk of loss to customers upon receipt. Sales agreements for polysilicon and wafers typically do not contain product warranties except for return and replacement of defective products within a period generally ranging from 3 to 30 days from delivery. Sales agreements typically do not contain post-shipment obligations or other return or credit provisions. The Group may extend credit terms after assessing a number of factors to determine the customers&#39; credit worthiness.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group sold approximately $36,916,531, $19,862,424 and $32,278,700 in photovoltaic wafers and cells in 2011, 2012 and 2013, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Customers frequently pay for products prior to the delivery of the products. Advance payments are recorded as advances from customers.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> <u>Service revenue</u></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Company also provides OEM services to customers and recognizes revenue when there is persuasive evidence of an arrangement, the service has been rendered, the sales price is fixed or determinable and collectability is reasonably assured.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfSalesPolicyTextBlock', window );">Cost of revenues</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(m) Cost of revenues</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Cost of revenues consists of production related costs including costs of silicon raw materials, electricity and other utilities, consumables, direct labor, overhead costs, depreciation of property, plant and equipment, and manufacturing waste treatment processing fees.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShippingAndHandlingCostPolicyTextBlock', window );">Shipping and handling</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(n) Shipping and handling</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Costs to ship products to customers are recorded as selling expenses in the consolidated statements of operations. Costs to ship products to customers were $1,215,110, $1,033,808 and $1,901,384 respectively for the years ended December&nbsp;31, 2011, 2012 and 2013.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpensePolicy', window );">Research and development expenses</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(o) Research and development expenses</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Research and development expenses include materials and utilities consumed in research and development activities, payroll and related costs and depreciation of property and equipment associated with the research and development activities, which are expensed when incurred. In the years ended December 31, 2012 and 2013, the Company incurred additional research and development expenses for its Xinjiang Phase II polysilicon facilities to achieve the targets for quality, capacity and cost during the pilot production period.</p> <!--EndFragment--></div> </div><span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock', window );">Government subsidies</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(p) Government subsidies</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group receives unrestricted cash subsidies from local government agencies. The government agencies use their discretion to determine the amount of the subsidies with reference to land use right fees, value-added tax and income taxes paid, bank loan interest expenses paid or electricity consumed by the Group, however, these subsidies do not represent tax refunds or reimbursements of expenditures. The subsidies are unrestricted as to use and can be utilized by the Group in any manner it deems appropriate. The Group has utilized, and expects to continue to utilize, these subsidies to fund general operating expenses. The Group records unrestricted cash government subsidies as other operating income in the consolidated statements of operations. Unrestricted cash government subsidies received for the years ended December&nbsp;31, 2011, 2012 and 2013 were $11,484,768, $9,250,296 and $5,249,788, respectively.&nbsp;Government grants related to assets are recorded as long term liabilities and are recognized as an offset to depreciation expense on a straight-line basis over the useful life of the associated asset. The Company received government grants related to assets of $25,895,226, $1,383,487 and $1,172,160 during the years ended December&nbsp;31, 2011, 2012 and 2013, respectively, and recognized $42,047, $764,528 and $ 1,454,125 as an offset to depreciation expense for the years ended December&nbsp;31, 2011, 2012 and 2013, respectively. The Company had deferred government grants related to assets of $25,853,179, $26,472,137 and $26,954,700 as of December&nbsp;31, 2011, 2012 and 2013, respectively.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Income taxes</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(q) Income taxes</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Deferred income taxes are recognized for temporary differences between the tax bases of assets and liabilities and their reported amount in the consolidated financial statements, net operating loss carry-forwards and credits by applying enacted tax rates applicable to future years. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided in accordance with the laws of the relevant taxing authorities. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in which temporary differences are expected to be realized or settled. The effect on deferred tax assets and liabilities of changes in tax rates is recognized in the statement of operations in the period of the enactment of the change. The components of the deferred tax assets and liabilities are individually classified as current and non-current based on the characteristics of the underlying assets and liabilities, or the expected timing of their use when they do not relate to a specific asset or liability.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy', window );">Share-based compensation</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(r) Share-based compensation</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group recognizes share-based compensation in the statement of operations based on the fair value of equity awards on the date of the grant, with compensation expense recognized over the period in which the grantee is required to provide service to the Group in exchange for the equity award. The Group has made an estimate of expected forfeiture and is recognizing compensation costs only for those equity awards expected to vest. The share-based compensation expenses have been categorized as either selling, general and administrative expenses, research and development expenses and cost of sales, depending on the job functions of the grantees. For the years ended December&nbsp;31, 2011, 2012 and 2013, the Group recognized share-based compensation expense of $2,206,025, $2,249,834 and $1,881,401 respectively, which was classified as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2011</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 61%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Selling, general and administrative expenses</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">2,068,115</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">2,018,817</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">1,743,768</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Research and development expenses</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">75,508</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">175,242</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">60,987</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Cost of sales</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 62,402</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 55,775</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 76,646</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 2,206,025</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 2,249,834</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 1,881,401</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Earnings (loss) per share</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(s) Earnings (loss) per share</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Basic earnings (loss) per ordinary share are computed by dividing the net income (loss) attributable to ordinary shares by the weighted average number of ordinary shares outstanding during the year.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Diluted earnings per share is calculated by dividing net income attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary shares and dilutive ordinary share equivalents outstanding during the year. Diluted earnings per share is computed using the treasury stock method. During the years ended December&nbsp;31, 2011, 2012 and 2013, there are no ordinary shares issuable upon the exercise of outstanding share options included in the calculation of dilutive earnings per share as they were anti-dilutive.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock', window );">Foreign currency translation</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(t) Foreign currency translation</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The reporting currency of the Group is the United States dollar ("U.S. dollar"). The functional currency of the Company is the U.S. dollar. Monetary assets and liabilities denominated in other currencies other than the U.S. dollar are translated into U.S. dollar at the rates of exchange in effect at the balance sheet dates. Transactions dominated in currencies other than the U.S. dollar during the year are converted into U.S. dollar at the applicable rates of exchange prevailing when the transactions occur. Transaction gains and losses are recorded in the statements of operations.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The financial records of the Company&#39;s PRC subsidiaries and VIE are maintained in Chinese Renminbi ("RMB"), which is their functional currency. Assets and liabilities are translated at the exchange rates at the balance sheet date. Equity accounts are translated at historical exchange rates. Revenues, expenses, gains and losses are translated at average rate of exchange prevailing during the periods presented. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive income in the statement of changes in equity and comprehensive income.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The RMB is not a freely convertible currency. The State Administration for Foreign Exchange of People&#39;s Republic of China, under the authority of the People&#39;s Bank of China, controls the conversion of RMB into foreign currencies. The value of the RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China foreign exchange trading system market. The Group&#39;s aggregate amount of cash and cash equivalents and restricted cash denominated in RMB amounted to $11,589,709 and $11,436,370 as of December&nbsp;31, 2012 and 2013, respectively.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock', window );">Comprehensive income (loss)</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(u) Comprehensive income (loss)</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Our financial statements include the Consolidated Statements of Comprehensive Income (Loss) as required by new accounting guidance, which we early adopted during 2010. As of December 31, 2012 and 2013, Accumulated Other Comprehensive Income was comprised entirely of foreign currency translation adjustments.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueOfFinancialInstrumentsPolicy', window );">Fair value of financial instruments</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(v) Fair value of financial instruments</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Company estimates fair value of financial assets and liabilities as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (also referred to as an exit price). The fair value measurement guidance establishes a hierarchy for inputs used in measuring fair value that gives the highest priority to observable inputs and the lowest priority to unobservable inputs. Valuation techniques used to measure fair value shall maximize the use of observable inputs.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr> <td style="WIDTH: 4%">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 3%"> &bull;</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: top">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 92%"> Level 1-Valuation techniques in which all significant inputs are unadjusted quoted prices from active markets for assets or liabilities that are identical to the assets or liabilities being measured.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr> <td style="WIDTH: 4%">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 3%"> &bull;</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: top">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 92%"> Level 2-Valuation techniques in which significant inputs include quoted prices from active markets for assets or liabilities that are similar to the assets or liabilities being measured and/or quoted prices for assets or liabilities that are identical or similar to the assets or liabilities being measured from markets that are not active. Also, model-derived valuations in which all significant inputs and significant value drivers are observable in active markets are Level 2 valuation techniques.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr> <td style="WIDTH: 4%">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 3%"> &bull;</td> <td style="WIDTH: 1%; VERTICAL-ALIGN: top">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 92%"> Level 3-Valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are valuation technique inputs that reflect the Group&#39;s own assumptions about the assumptions that market participants would use to price an asset or liability.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> When available, the Group measures the fair value of financial instruments based on quoted market prices in active markets, valuation techniques that use observable market-based inputs or unobservable inputs that are corroborated by market data. Pricing information the Group obtains from third parties is internally validated for reasonableness prior to use in the consolidated financial statements. When observable market prices are not readily available, the Group generally estimates fair value using valuation techniques that rely on alternate market data or inputs that are generally less readily observable from objective sources and are estimated based on pertinent information available at the time of the applicable reporting periods. In certain cases, fair values are not subject to precise quantification or verification and may fluctuate as economic and market factors vary and the Group&#39;s evaluation of those factors changes. Although the Group uses its best judgment in estimating the fair value of these financial instruments, there are inherent limitations in any estimation technique. In these cases, a minor change in an assumption could result in a significant change in its estimate of fair value, thereby increasing or decreasing the amounts of the Group&#39;s consolidated assets, liabilities, shareholders&#39; equity and net income or loss.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group&#39;s financial instruments include cash and cash equivalents, restricted cash, accounts receivable, other current assets, amount due from related parties, accounts payable, other current liabilities, payables for purchase of property, plant and equipment, amounts due to related parties and short-term and current portion of long-term borrowings. The carrying amounts of these short-term financial instruments approximate their fair values due to the short-term maturity of these instruments.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The fair values of the Company&#39;s non-current portion of payables for purchase of property, plant and equipment and long-term bank borrowings as of December&nbsp;31, 2012 and 2013 are estimated by discounted cash flow technique using an interest rate corresponding to debt with similar maturities and risks on the measurement date.</p> <!--EndFragment--></div> </div><span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConsolidationVariableInterestEntityPolicy', window );">Variable Interest Entity</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(w) Variable Interest Entity</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Company uses a qualitative approach in assessing the consolidation requirement for variable interest entities. The approach focuses on identifying which enterprise has the power to direct the activities that most significantly impact the variable interest entity&#39;s economic performance and which enterprise has the obligation to absorb losses or the right to receive benefits from the variable interest entity. In the event that the Company is the primary beneficiary of a variable interest entity, the assets, liabilities, and results of operations of the variable interest entity will be included in the Company&#39;s Consolidated Financial Statements.</p> <!--EndFragment--></div> </div><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy', window );">Noncontrolling interest</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(x) Noncontrolling interest</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The noncontrolling interest represents Daqo Group&#39;s equity interest in Daqo New Material. The Group classified the ownership interest in the consolidated entity held by a party other than the Company to noncontrolling interest in the consolidated financial statements. It also reported the consolidated net income at amounts that include the amounts attributable to both the parent and the noncontrolling interest on the face of the consolidated statements of operations and comprehensive income. On December 31, 2013, Daqo New Material was deconsolidated, therefore the noncontrolling interest was $nil as of December 31, 2013.</p> <!--EndFragment--></div> </div><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityPolicyTextBlock', window );">Treasury Stock</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(y) Treasury Stock</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> On July 9, 2012, the Company&#39;s Board of Directors authorized the Company to repurchase up to $5 million in aggregate value of its outstanding ordinary shares through open market or other legally permissible means prior to December 31, 2012 in accordance with applicable securities laws.. During the year ended December 31, 2012, the Company repurchased 2,836,670 shares for a total purchase price of $500,724. The Company has legal title to the shares, and no other party has the voting rights associated with these shares.</p> <!--EndFragment--></div> </div><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock', window );">Recent accounting pronouncements</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(z) Recent accounting pronouncements</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In July 2013, the FASB issued a pronouncement which provides guidance on financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The FASB&#39;s objective in issuing this ASU is to eliminate diversity in practice resulting from a lack of guidance on this topic in current U.S. GAAP. The amendments in this ASU state that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This ASU applies to all entities that have unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted.</p> <!--EndFragment--></div> </div><span></span></td>
      </tr>
    </table>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Prepaid Land Use Rights Policy Text Block.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_PrepaidLandUseRightsPolicyTextBlock</nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountingPoliciesAbstract</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_BasisOfAccountingPolicyPolicyTextBlock</nobr></td>
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                    <td>nonnum:textBlockItemType</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash Equivalents<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 305<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2122427<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4273-108586<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Financial Reporting Release (FRR)<br><br> -Number 203<br><br> -Paragraph 02-03<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsPolicyTextBlock</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td>nonnum:textBlockItemType</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Entity's cash and cash equivalents accounting policy with respect to restricted balances.  Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 305<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2122427<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.1(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4273-108586<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Subparagraph a<br><br> -Article 9<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Financial Reporting Release (FRR)<br><br> -Number 203<br><br> -Paragraph 02-03<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for comprehensive income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ComprehensiveIncomePolicyPolicyTextBlock</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskCreditRisk">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for credit risk.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 825<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28088331&amp;loc=SL29635902-196195<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13531-108611<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13537-108611<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6875567&amp;loc=d3e14489-108613<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 825<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6480020&amp;loc=d3e61082-112788<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 825<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6480020&amp;loc=d3e61044-112788<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ConcentrationRiskCreditRisk</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
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                    <td><strong> Period Type:</strong></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConsolidationPolicyTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting.  The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02, 03<br><br> -Article 3A<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2197480<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 860<br><br> -SubTopic 40<br><br> -Section 45<br><br> -URI http://asc.fasb.org/section&amp;trid=2197723<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 323<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2196966<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 325<br><br> -SubTopic 20<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2197087<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.3A-02)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27015204&amp;loc=d3e355033-122828<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 323<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=16385135&amp;loc=d3e33801-111570<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=d3e5614-111684<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph k<br><br> -Article 1<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for subsidiaries or other investments that are consolidated, including the accounting treatment for intercompany accounts or transactions and any noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2197480<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.3A-02)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27015204&amp;loc=d3e355033-122828<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=d3e5614-111684<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph a<br><br> -Article 4<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02, 03, 04<br><br> -Article 3A<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                  <tr>
                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for consolidation to describe the significant judgments and assumptions made in determining whether a variable interest held by the entity requires the variable interest entity to be consolidated and (or) disclose information about its involvement with the variable interest entity; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; and the significant factors considered and judgments made in determining that the power to direct the activities that significantly impact the economic performance of the variable interest entity are shared (as defined).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for recognition of costs in the period which correspond to the sales and revenue categories presented in the statement of operations. The accounting policy may include the amount and nature of costs incurred, provisions associated with inventories, purchase discounts, freight and other costs included in cost of sales incurred and recorded in the period. This disclosure also includes the nature of costs of sales incurred and recorded in the statement of operations for the period relating to transactions with related parties.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 2<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 605<br><br> -SubTopic 50<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6408645&amp;loc=d3e63676-111659<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 605<br><br> -SubTopic 50<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2197414<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2144384<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3630-109257<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for determining the fair value of financial instruments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2155942<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2175856<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2175826<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2175892<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for determining revenues and related costs.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 912<br><br> -SubTopic 235<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6471718&amp;loc=d3e53972-109395<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                  <tr>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 5<br><br> -Section CC<br><br> -Subsection 3<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2155824<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Period Type:</strong></td>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxPolicyTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2144681<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 30<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2144749<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32840-109319<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 954<br><br> -SubTopic 740<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6491622&amp;loc=d3e9504-115650<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 17<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32809-109319<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e32247-109318<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e32280-109318<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeTaxPolicyTextBlock</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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              </div>
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          </td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2126999<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4492-108314<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Financial Reporting Release (FRR)<br><br> -Number 206<br><br> -Paragraph b<br><br> -Subparagraph i, ii<br><br> -Chapter 2<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4556-108314<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryPolicyTextBlock</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
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          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2155824<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.13(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 13<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PropertyPlantAndEquipmentPolicyTextBlock</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for determining the allowance for doubtful accounts for trade and other accounts receivable balances, and when impairments, charge-offs or recoveries are recognized.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 4<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28368275&amp;loc=d3e5144-111524<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Period Type:</strong></td>
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          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for costs it has incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 730<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2127266<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Research and Development<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6523717<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ResearchAndDevelopmentExpensePolicy</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
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                <p>Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.</p>
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                <p>Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement.</p>
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                <p>Disclosure of accounting policy for the classification of shipping and handling costs, including whether the costs are included in cost of sales or included in other income statement accounts. If shipping and handling fees are significant and are not included in cost of sales, disclosure includes both the amounts of such costs and the line item on the income statement which includes such costs.</p>
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                <p>Disclosure of accounting policy for its capital stock transactions, including dividends and accumulated other comprehensive income.</p>
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                <p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>FINANCIAL STATEMENT SCHEDULE I<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock', window );">FINANCIAL STATEMENT SCHEDULE I</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>FINANCIAL STATEMENT SCHEDULE I</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>DAQO NEW ENERGY CORP.</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>FINANCIAL INFORMATION OF PARENT COMPANY</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>BALANCE SHEET</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>DECEMBER 31, 2012 AND 2013</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>(In U.S. dollars, except share data)</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold">ASSETS</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">CURRENT ASSETS</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 74%; TEXT-ALIGN: left; PADDING-LEFT: 0.25in">Cash and cash equivalents</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">5,669,834</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">5,187,046</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in">Prepaid expenses and other current assets</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">593,707</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">177,487</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"> Amount due from related party</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 5,110,085</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 5,110,085</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Total current assets</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">11,373,626</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">10,474,618</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"> Investments in subsidiaries, net</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 190,945,888</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 127,203,565</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> TOTAL ASSETS</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 202,319,514</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 137,678,183</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 2.25pt">&nbsp;</td> <td style="FONT-SIZE: 2.25pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 2.25pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 2.25pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: left">LIABILITIES AND SHAREHOLDERS&#39; EQUITY</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">CURRENT LIABILITIES</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"> Accrued expenses and other current liabilities</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 214,231</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 351,621</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Total current liabilities</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 214,231</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 351,621</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td>EQUITY</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-LEFT: 0.35in; TEXT-INDENT: -0.1in">Ordinary shares ($0.0001 per value 500,000,000 shares authorized as of December 31, 2012 and 2013; 175,714,103 and 175,714,103 shares issued as of December 31, 2012 and 2013, respectively and 172,877,433 and 173,427,853 shares outstanding as of December 31, 2012 and 2013, respectively)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">17,288</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">17,343</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in">Additional paid in capital</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">144,755,902</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">146,676,163</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in">Retained earnings (accumulated losses)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">38,276,015</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(32,667,469</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in">Accumulated other comprehensive income</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">19,551,006</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">23,699,196</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"> Treasury stock</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (494,928</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (398,672</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Total shareholders&#39; equity</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 202,105,283</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 137,326,561</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> TOTAL LIABILITIES AND EQUITY</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 202,319,514</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 137,678,183</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>FINANCIAL STATEMENT SCHEDULE I</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>DAQO NEW ENERGY CORP.</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>FINANCIAL INFORMATION OF PARENT COMPANY</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>FOR THE YEARS ENDED DECEMBER 31, 2011, 2012 AND 2013</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>(In U.S. dollars)</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2011</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">OPERATING EXPENSES</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="WIDTH: 61%; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"> General and administrative</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">(2,355,174</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">)</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">(3,528,728</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">)</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">(2,979,454</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"> Research and development</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (75,508</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (175,242</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (76,646</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-LEFT: 0.25in">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"> Total operating expenses</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (2,430,682</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (3,703,970</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (3,056,100</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">LOSS FROM OPERATION</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(2,430,682</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(3,703,970</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(3,056,100</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"> Interest income</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 24,852</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 3,074</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 3,130</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">NET LOSS BEFORE SHARE OF RESULTS OF SUBSIDIARIES</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(2,405,830</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(3,700,896</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(3,052,970</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"> <p style="MARGIN: 0pt 0px">Equity in earnings (losses) of subsidiaries</p> </td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 35,729,782</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (108,228,045</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (67,890,514</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"> Net income (loss) attributable to Daqo New Energy Corporation ordinary shareholders</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 33,323,952</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (111,928,941</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (70,943,484</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Other comprehensive income:</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Foreign currency translation adjustments</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 12,167,255</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2,206,182</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 4,148,190</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Total other comprehensive income</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 12,167,255</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2,206,182</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 4,148,190</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">Comprehensive income (loss)</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 45,491,207</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (109,722,759</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (66,795,294</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>FINANCIAL STATEMENT SCHEDULE I</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>DAQO NEW ENERGY CORP.</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>FINANCIAL INFORMATION OF PARENT COMPANY</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>STATEMENT OF CHANGES IN EQUITY</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>FOR YEARS ENDED DECEMBER 31, 2011, 2012 AND 2013</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>(In U.S. dollars, except share data)</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> <font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap">Ordinary shares</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> <font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> <font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Treasury Stock</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> <font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> <font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Additional<br /> paid in capital</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> <font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> <font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Retained<br /> earnings (accumulated<br /> losses)</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> <font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> <font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Accumulated<br /> other<br /> comprehensive<br /> income</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> <font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> <font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> <font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Number</td> <td style="FONT-WEIGHT: bold"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">$</td> <td style="FONT-WEIGHT: bold"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: center" colspan="2"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: center" colspan="2"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: center" colspan="2"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: center" colspan="2"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: center" colspan="2"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; WIDTH: 23%">Balance at January&nbsp;1, 2011</td> <td style="WIDTH: 1%"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="WIDTH: 1%; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 8%"> 175,714,103</td> <td style="WIDTH: 1%; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="WIDTH: 1%"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 8%"> 17,571</td> <td style="WIDTH: 1%; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="WIDTH: 1%"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 8%">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="WIDTH: 1%"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 8%"> 140,305,556</td> <td style="WIDTH: 1%; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="WIDTH: 1%"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 8%"> 116,881,004</td> <td style="WIDTH: 1%; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="WIDTH: 1%"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 8%"> 6,276,868</td> <td style="WIDTH: 1%; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="WIDTH: 1%"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 8%"> 263,480,999</td> <td style="WIDTH: 1%; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Net income</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">33,323,952</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">33,323,952</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Other comprehensive income</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">12,167,255</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">12,167,255</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 1pt">Share-based compensation</td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 2,206,025</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 2,206,025</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt">Balance at December&nbsp;31, 2011</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">175,714,103</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">17,571</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">142,511,581</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">150,204,956</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">18,444,123</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">311,178,231</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Net loss</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">(111,928,941</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">(111,928,941</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Other comprehensive income</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">2,206,182</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">2,206,182</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt">Share-based compensation</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">2,249,834</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">2,249,834</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 8pt">Repurchase</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">(2,836,670</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">(283</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">(494,928</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">(5,513</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">(500,724</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"> Deconsolidation of Nanjing Daqo New Energy Co.,Ltd</td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (1,099,299</td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"> )</td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (1,099,299</td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"> )</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt">Balance at December&nbsp;31, 2012</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">172,877,433</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">17,288</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">(494,928</td> <td style="TEXT-ALIGN: left">)<font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">144,755,902</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">38,276,015</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">19,551,006</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">202,105,283</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Net loss</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">(70,943,484</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">(70,943,484</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Other comprehensive income</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">4,148,190</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">4,148,190</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt">Share-based compensation</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">1,881,401</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">1,881,401</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Option Exercised</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">550,420</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">55</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">96,256</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">38,860</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">135,171</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 1pt">Deconsolidation of VIE</td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt">Balance at December&nbsp;31, 2013</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> <font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 173,427,853</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 17,343</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (398,672</td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 146,676,163</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> (32,667,469</td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 23,699,196</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 137,326,561</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>FINANCIAL STATEMENT SCHEDULE I</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>DAQO NEW ENERGY CORP.</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>FINANCIAL INFORMATION OF PARENT COMPANY</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>STATEMENT OF CASH FLOWS</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>FOR THE YEARS ENDED DECEMBER 31, 2011, 2012 AND 2013</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>(In U.S. dollars)</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">2011</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">OPERATING ACTIVITIES</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="WIDTH: 61%; TEXT-ALIGN: left; PADDING-LEFT: 0.25in">Net income (loss)</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">33,323,952</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">(111,928,941</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">)</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">(70,943,484</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-LEFT: 0.25in">Share of results of subsidiaries</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(35,729,782</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">108,228,045</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">67,890,514</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-LEFT: 0.25in">Share-based compensation</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">2,206,025</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">2,249,834</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,881,401</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 0.35in; TEXT-INDENT: -0.1in"> Adjustments to reconcile net income to net cash used in operating activities:</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 0.5in">Prepaid expenses and other current assets</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(142,001</td> <td style="TEXT-ALIGN: left">))</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(31,207</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">344,717</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 0.5in">Changes in other current liabilities</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(916,531</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">214,231</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">137,390</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.5in"> Amount due from related party</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (210,523</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Net cash used in operating activities</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (1,258,337</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (1,478,561</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (689,462</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">INVESTING ACTIVITIES</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in">Capital contributed to subsidiaries</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(37,990,278</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(4,811,175</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in">Cash collected from subsidiaries when liquidation</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">4,390,250</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">71,503</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"> Disposition of Nanjing Daqo</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 4,778,657</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">Cash used in investing activities</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(37,827,297</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">4,357,732</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">71,503</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">FINANCING ACTIVITIES</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-LEFT: 0.25in">Repurchase of ordinary shares</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(500,724</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 0.25in">Issuance cost of ordinary shares</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 135,171</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Cash provided by financing activities</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (500,724</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 135,171</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">NET INCREASE IN CASH AND CASH EQUIVALENTS</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(39,085,634</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">2,378,447</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(482,788</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"> CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 42,377,021</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 3,291,387</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 5,669,834</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">CASH AND CASH EQUIVALENTS AT END OF PERIOD</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 3,291,387</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 5,669,834</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 5,187,046</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Supplemental disclosure of cash flow information:</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in">Disposition of Nanjing Daqo:</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in">Total consideration</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">9,888,742</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"> Less: amount due from Daqo Group</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (5,110,085</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0.25in"> Total cash consideration received</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 4,778,657</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>FINANCIAL STATEMENT SCHEDULE I</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>DAQO NEW ENERGY CORP.</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Notes to Schedule I</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0px">&nbsp;</td> <td style="WIDTH: 0.4in">1.</td> <td style="TEXT-ALIGN: justify">Schedule I has been provided pursuant to the requirements of Rule 12-04(a) and 5-04(c) of Regulation S-X, which require condensed financial information as to the financial position, changes in financial position and results of operations of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year.</td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.4in; TEXT-INDENT: -0.4in"> &nbsp;</p> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0px">&nbsp;</td> <td style="WIDTH: 0.4in">2.</td> <td style="TEXT-ALIGN: justify">The condensed financial information of Daqo New Energy Corp has been prepared using the same accounting policies as set out in the accompanying consolidated financial statements except that the equity method has been used to account for investments in its subsidiaries.</td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.4in; TEXT-INDENT: -0.4in"> &nbsp;</p> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0px">&nbsp;</td> <td style="WIDTH: 0.4in">3.</td> <td style="TEXT-ALIGN: justify">Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The footnote disclosures contain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the Consolidated Financial Statements of the Company.</td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.4in; TEXT-INDENT: -0.4in"> &nbsp;</p> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0px">&nbsp;</td> <td style="WIDTH: 0.4in">4.</td> <td style="TEXT-ALIGN: justify">As of December&nbsp;31, 2013, there were no material contingencies, significant provisions of long-term obligations, mandatory dividend or redemption requirements of redeemable stocks or guarantees of the Company, except for those which have been separately disclosed in the Consolidated Financial Statement, if any.</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 06<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 3<br><br> -Subparagraph (SX 210.12-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=d3e5283-111683<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 12<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph c<br><br> -Article 5<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 05<br><br> -Paragraph c<br><br> -Article 7<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E6IAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>BORROWINGS (Schedule of Bank Borrowings) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>BORROWINGS [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Short-term bank borrowings</a></td>
        <td class="nump">$ 39,643,440<span></span></td>
        <td class="nump">$ 49,748,800<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtCurrent', window );">Long-term bank borrowings, current portion</a></td>
        <td class="nump">50,049,843<span></span></td>
        <td class="nump">69,006,400<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherShortTermBorrowings', window );">Other short-term borrowing</a></td>
        <td class="nump">29,177,574<span></span></td>
        <td class="nump">1,524,560<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtCurrent', window );">Total borrowings, current</a></td>
        <td class="nump">118,870,857<span></span></td>
        <td class="nump">120,279,760<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Long-term bank borrowings, non-current portion</a></td>
        <td class="nump">134,870,287<span></span></td>
        <td class="nump">187,520,880<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtLongtermAndShorttermCombinedAmount', window );">Total</a></td>
        <td class="nump">$ 253,741,144<span></span></td>
        <td class="nump">$ 307,800,640<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of short-term debt and current maturity of long-term debt and capital lease obligations due within one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19,20)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtDisclosureAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtDisclosureAbstract</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
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            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtLongtermAndShorttermCombinedAmount">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the aggregate of total long-term debt, including current maturities and short-term debt.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtLongtermAndShorttermCombinedAmount</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19,20)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 22<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherShortTermBorrowings">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts at the balance sheet date of short-term borrowings not otherwise specified in the taxonomy having initial terms less than one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(a)(7))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherShortTermBorrowings</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermBankLoansAndNotesPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount at the balance sheet date of borrowings from a bank, not elsewhere enumerated in the taxonomy, with a maturity within one year (or within one operating cycle if longer) from the date of borrowing.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(a)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 16<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShortTermBankLoansAndNotesPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
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          </td>
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  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>COMMITMENTS (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract', window );"><strong>COMMITMENTS [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock', window );">Schedule of Future Minimum Lease Payments</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Future minimum lease payments are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 1in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">Year ending December&nbsp;31</td> <td nowrap="nowrap">&nbsp;</td> <td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">USD</td> <td nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 80%; TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"> 2014</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 17%; TEXT-ALIGN: right">1,121,476</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"> 2015</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,073,299</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"> 2016</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,073,299</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"> Total</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 3,268,074</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 840<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EKH">
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          <div style="width: 200px;"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Tables)<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock', window );">Schedule of Property, Plant and Equipment, Depreciation, Estimated Lives</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Property, plant and equipment are recorded at cost less accumulated depreciation. Depreciation is recognized on a straight-line basis over the following estimated useful lives:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.6in" cellspacing="0" cellpadding="0"> <tr> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top; WIDTH: 82%"> Buildings and plant</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom; WIDTH: 18%"> 20&nbsp;years</td> </tr> <tr> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> Machinery and equipment</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 10 years</td> </tr> <tr> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> Furniture, fixtures and equipment</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 3-5&nbsp;years</td> </tr> <tr> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> Motor vehicles</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 6 years</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock', window );">Schedule of Accounts Receivable</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The following customers accounted for 10% or more of accounts receivable:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="6"><strong>December&nbsp;31,</strong></td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> <p style="BORDER-BOTTOM: black 0.75pt solid; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Accounts<br /> receivable</strong></p> </td> <td>&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="2"><strong>2012</strong></td> <td>&nbsp;</td> <td>&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center" colspan="2"><strong>2013</strong></td> <td>&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"> Customer A</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 12,529,889</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> *</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"> Customer D</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right"> 3,568,910</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right"><font style="FONT: 10pt Times New Roman, Times, Serif">3,673,455</font> </td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"> Customer C</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> *</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 1,225,831</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt; VERTICAL-ALIGN: top"> Customer K</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> -</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> $</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> 1,507,576</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <!-- Field: Rule-Page --> <div style="BORDER-TOP: black 1pt solid; FONT-SIZE: 1pt; MARGIN-BOTTOM: 1pt; MARGIN-TOP: 3pt; text-align: left; WIDTH: 20%"> &nbsp;</div> <!-- Field: /Rule-Page --> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"> *</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 97%"> Represents less than 10%</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock', window );">Schedule of Share-Based Compensation Expenses</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> For the years ended December&nbsp;31, 2011, 2012 and 2013, the Group recognized share-based compensation expense of $2,206,025, $2,249,834 and $1,881,401 respectively, which was classified as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2011</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 61%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Selling, general and administrative expenses</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">2,068,115</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">2,018,817</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">1,743,768</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Research and development expenses</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">75,508</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">175,242</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">60,987</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Cost of sales</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 62,402</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 55,775</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 76,646</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 2,206,025</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 2,249,834</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 1,881,401</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the estimated useful lives of property and equipment.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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                <p>Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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                <p>Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 14.F)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 14<br><br> -Section F<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (h)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>EXIT and DISPOSAL ACTIVITIES (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
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          <div>Dec. 31, 2013</div>
        </th>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract', window );"><strong>EXIT and DISPOSAL ACTIVITIES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock', window );">Schedule of Operating Results Reported as Discontinued Operations</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> The discontinued operations were retrospectively reflected for all the prior years presented in the consolidated statements of operations. The operating results reported as discontinued operations for the years ended December 31, 2011, 2012 and 2013, are summarized as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2011</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 55%">Revenues</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">29,082,384</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">6,454,830</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Operating costs and expenses</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (36,943,483</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (9,946,357</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Loss from discontinued operations before income taxes</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(7,861,099</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(3,491,527</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Income tax benefit</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2,003,289</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Loss from discontinued operations</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (5,857,810</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (3,491,527</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> -</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1510-107760<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=8077374&amp;loc=d3e2443-110228<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1474-107760<br><br><br><br></p>
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<html>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>ORGANIZATION AND PRINCIPAL ACTIVITIES<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>ORGANIZATION AND PRINCIPAL ACTIVITIES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock', window );">ORGANIZATION AND PRINCIPAL ACTIVITIES</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>1. ORGANIZATION AND PRINCIPAL ACTIVITIES</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The consolidated financial statements include the financial statements of Daqo New Energy Corp. (the "Company"), its wholly owned subsidiaries, Chongqing Daqo New Energy Co., Ltd. ("Chongqing Daqo"), Nanjing Daqo New Energy Co., Ltd. ("Nanjing Daqo") (which was disposed to Daqo Group Co., Ltd. ("Daqo Group") on September 28, 2012), Xinjiang Daqo New Energy Co., Ltd ("Xinjiang Daqo"), Daqo Solar Energy North America ("Daqo America") (which was liquidated in 2013) and Daqo New Energy Holdings (Canada) Ltd.("Daqo Canada") (which was liquidated in 2013) and its consolidated variable interest entity ("VIE") Daqo New Material Co., Ltd. ("Daqo New Material") (which was deconsolidated on December 31, 2013) (collectively, the "Group").</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Company was incorporated on November&nbsp;22, 2007 in the Cayman Islands. Chongqing Daqo, Nanjing Daqo and Xinjiang Daqo were incorporated by the Company on January&nbsp;14, 2008, December&nbsp;20, 2007 and February&nbsp;22, 2011, respectively, in the Peoples&#39; Republic of China ("PRC"). Daqo America was incorporated by the Company in January 2009, in California, USA. Daqo Canada was incorporated by the Company in April 2011, in Hamilton, Ontario, Canada.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Daqo New Material and the Company were under common control by Daqo New Material&#39;s ultimate shareholders prior to November 11, 2009. Daqo New Material was established by Daqo Group, an affiliate of the Company on November&nbsp;16, 2006, for the primary purpose of developing a photovoltaic business. Daqo New Material&#39;s activities included acquiring land use rights and constructing certain polysilicon production infrastructure, including buildings and production machinery and equipment. Chongqing Daqo acquired additional machinery and equipment that are used in connection with Daqo New Material&#39;s land and production infrastructure.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Subsequent to its establishment, Chongqing Daqo entered into a lease agreement with Daqo New Material to rent all of Daqo New Material&#39;s land, production infrastructure and machinery and equipment for the Group&#39;s polysilicon production. The lease period is from July&nbsp;1, 2008 to December&nbsp;31, 2013, with monthly lease payments that have been renegotiated periodically and are eliminated in consolidation. The lease agreement also provided that if Daqo New Material transferred the ownership of the leased assets to any third party, the lease agreement would remain effective and enforceable against the new owner. One month before the expiry of the lease period, Chongqing Daqo had the option to renew the lease on the same terms and conditions for an additional five-year periods. Furthermore, Chongqing Daqo has the option to purchase, or to designate any person to purchase, the leased assets at the then fair value at any time during the lease period or within one year following the lease period, if permitted by the PRC laws and regulations. If Daqo New Material desires to transfer the ownership of the leased assets to a third party, Chongqing Daqo has the right of first refusal to acquire the leased assets under the same conditions. If the leased assets are transferred to a third party, the lease agreement will remain effective and enforceable against the new owner.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> <strong>&nbsp;</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Because the aggregate value of the monthly rental payments that Chongqing Daqo is contractually obligated to make to Daqo New Material represents the majority of the value of Daqo New Material&#39;s assets, Chongqing Daqo has the majority of investment risk in Daqo New Material. Further, the Group has concluded that the arrangement results in Chongqing Daqo providing an implicit guarantee to protect Daqo Group from absorbing losses incurred by Daqo New Energy, thus Daqo New Material is considered to be a variable interest entity of Chongqing Daqo. Furthermore, the operating activities of Daqo New Material are most closely associated with Chongqing Daqo and the management of Chongqing Daqo also acts as the management of Daqo New Material. Based on these factors, Chongqing Daqo has the power to control Daqo New Material and is considered the primary beneficiary of Daqo New Material. The assets and liabilities of Daqo New Material are consolidated at historical cost given they were held by entities under common control at the time of the lease agreement. Daqo Group&#39;s total equity interests in Daqo New Material are presented as a noncontrolling interest.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> On December 31, 2013, Chongqing Daqo and Daqo New Material terminated the lease agreement. As a result, the Company deconsolidated Daqo New Material on December 31, 2013. As of December 31, 2013, the Company is in the process of relocating significant production assets from Daqo New Material to its Xinjiang plant.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In the periods presented, the Company manufactured and sold polysilicon and wafers through Chongqing Daqo and Xinjiang Daqo, and sold modules through Nanjing Daqo before September 28, 2012 when Nanjing Daqo was sold to the Daqo Group.</p> <!--EndFragment--></div> </div><span></span></td>
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                <p>The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28200181&amp;loc=SL6228881-111685<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 720<br><br> -SubTopic 15<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2122524<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6359566&amp;loc=d3e326-107755<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7668296&amp;loc=d3e288-107754<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2197480<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=d3e5614-111684<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 915<br><br> -SubTopic 235<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6472506&amp;loc=d3e38932-110933<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 852<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2209116<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 272<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6373374&amp;loc=d3e70478-108055<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2134480<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2122150<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>ALLOWANCES FOR DOUBTFUL RECEIVABLES (Tables)<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansAndLeasesReceivableDisclosureAbstract', window );"><strong>ALLOWANCES FOR DOUBTFUL RECEIVABLES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock', window );">Schedule of Allowances for Accounts Receivable</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Analysis of allowances for accounts receivable is as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2011</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 55%; TEXT-ALIGN: left">Beginning of the year</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">1,202,940</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">1,592,467</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">Allowances made during the year</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,202,940</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">359,733</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">5,482,019</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Foreign exchange effect</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 29,794</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 86,296</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Closing balance</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 1,202,940</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 1,592,467</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 7,160,782</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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                <p>Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 11B<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28368275&amp;loc=SL6953423-111524<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E1AAC">
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          <div style="width: 200px;"><strong>INCOME TAXES (Tables)<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>INCOME TAXES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock', window );">Schedule of Income Tax Expenses</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Income tax expenses comprise:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.65in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year&nbsp;ended&nbsp;December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2011</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 55%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Current Tax Expenses (Benefit)</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">20,647,400</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">(1,894,736</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">)</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">(162,621</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Deferred Tax Expenses (Benefit)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (19,933,128</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 12,148,323</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,434,386</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 714,272</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 10,253,587</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 1,271,765</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock', window );">Schedule of Deferred Tax Assets and Liabilities</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The principal components of deferred income tax assets and liabilities are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.65in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Net operating loss carried forward</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">13,984,909</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">29,784,578</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Depreciation of property, plant and equipment</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">554,227</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">493,800</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt">Inventory write-down</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">3,687,349</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,531,750</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Bad debt provision</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">349,466</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,518,953</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Government grants related to assets</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">320,960</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">423,938</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Long-lived asset impairment</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">19,810,832</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">22,590,196</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Others</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 390,491</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 290,652</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Sub-total</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">39,098,234</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">56,633,867</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Valuation Allowance</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (37,682,733</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (56,633,867</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 1,415,501</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> -</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Deferred tax assets are analyzed as:</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt">Current</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">358,435</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt">Non-current</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,057,066</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock', window );">Schedule of Effective Income Tax Rate Reconciliation</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The effective income tax rate of the Group is different from the expected PRC statutory rate as a result of the following items:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year&nbsp;ended&nbsp;December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2011</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 55%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> PRC Enterprise Income Tax</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">25</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">%</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">25</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">%</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">25</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Preferential income tax rate of a subsidiary</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(12</td> <td style="TEXT-ALIGN: left">)%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(9</td> <td style="TEXT-ALIGN: left">)%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(2</td> <td style="TEXT-ALIGN: left">)%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Effect of different reversal rate</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(14</td> <td style="TEXT-ALIGN: left">)%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">8</td> <td style="TEXT-ALIGN: left">%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">3</td> <td style="TEXT-ALIGN: left">%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Additional tax deductions</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(1</td> <td style="TEXT-ALIGN: left">)%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt">Non-deductible expenses</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1</td> <td style="TEXT-ALIGN: left">%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Different tax rate in other jurisdictions</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">2</td> <td style="TEXT-ALIGN: left">%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(1</td> <td style="TEXT-ALIGN: left">)%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Changes in valuation allowance</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(35</td> <td style="TEXT-ALIGN: left">)%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(26</td> <td style="TEXT-ALIGN: left">)%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Prior year adjustment</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">%</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">%</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Effective tax rate</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 2</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">%</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (10</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)%</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (1</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)%</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SummaryOfIncomeTaxHolidayTextBlock', window );">Schedule of Effects of Tax Holiday</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The aggregate amount and per share effect of the tax holiday are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year&nbsp;ended&nbsp;December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2011</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: center" colspan="2">$</td> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: center" colspan="2">$</td> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: center" colspan="2">$</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 55%; TEXT-ALIGN: left">The aggregate dollar effect (in thousands)</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">4,388</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td>Per share effect-basic</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">0.02</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td>Per share effect-diluted</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">0.02</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
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                    <td><nobr>us-gaap_IncomeTaxDisclosureAbstract</nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br></p>
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                <p>Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br><br><br></p>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the income tax exemptions and reductions which have been granted by taxing authorities for a specified period, applicable term of the exemptions and reductions, estimated dollar value of tax benefits, and per share benefits.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SAB TOPIC 11.C)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330215-122817<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 25<br><br> -Paragraph 35<br><br> -URI http://asc.fasb.org/extlink&amp;oid=29652012&amp;loc=d3e28937-109314<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 11<br><br> -Section C<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E6GAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>PREPAID EXPENSE AND OTHER CURRENT ASSETS (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract', window );"><strong>PREPAID EXPENSE AND OTHER CURRENT ASSETS [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherInventoriesSpareParts', window );">Spare parts</a></td>
        <td class="nump">$ 6,264,805<span></span></td>
        <td class="nump">$ 3,975,860<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidTaxes', window );">Prepaid Value added tax ("VAT")</a></td>
        <td class="nump">13,546,880<span></span></td>
        <td class="nump">18,705,984<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidInsurance', window );">Prepaid insurance fee</a></td>
        <td class="nump">1,016,625<span></span></td>
        <td class="nump">471,721<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsCurrent', window );">Others</a></td>
        <td class="nump">3,042,380<span></span></td>
        <td class="nump">780,402<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Total</a></td>
        <td class="nump">$ 23,870,690<span></span></td>
        <td class="nump">$ 23,933,967<span></span></td>
      </tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.8)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 8<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherAssetsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
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          </td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gross amount of components of assembled products that can be sold directly or indirectly through sales of assembled products.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherInventoriesSpareParts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 8<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PrepaidExpenseAndOtherAssetsCurrent</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
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                    <td>instant</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of asset related to consideration paid in advance for insurance that provides economic benefits within a future period of one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Current Assets<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509628<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6787-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (g)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 340<br><br> -SubTopic 10<br><br> -Section 05<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386993&amp;loc=d3e5865-108316<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 340<br><br> -SubTopic 10<br><br> -Section 05<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386993&amp;loc=d3e5879-108316<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PrepaidInsurance</nobr></td>
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                    <td>instant</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of asset related to consideration paid in advance for income and other taxes that provide economic benefits within a future period of one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Current Assets<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509628<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6787-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 340<br><br> -SubTopic 10<br><br> -Section 05<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386993&amp;loc=d3e5865-108316<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 340<br><br> -SubTopic 10<br><br> -Section 05<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386993&amp;loc=d3e5879-108316<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (g)(4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
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        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS AND BALANCES (Details)<br></strong></div>
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        <th class="th" colspan="51">12 Months Ended</th>
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        <th class="th" colspan="13">12 Months Ended</th>
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        <th class="th" colspan="18">12 Months Ended</th>
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          <div>USD ($)</div>
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          <div>Disposition of Subsidiary [Member]

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          <div>Purchases of Fixed Assets [Member]

</div>
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          <div>Purchases of Fixed Assets [Member]

</div>
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          <div>Purchases of Fixed Assets [Member]

</div>
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</div>
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          <div>Prepayment Received [Member]

</div>
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</div>
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</div>
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</div>
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</div>
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</div>
          <div>USD ($)</div>
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        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Processing Fees [Member]

</div>
          <div>USD ($)</div>
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          <div>Dec. 31, 2011

</div>
          <div>Processing Fees [Member]

</div>
          <div>USD ($)</div>
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          <div>Dec. 31, 2013

</div>
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</div>
          <div>USD ($)</div>
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          <div>Dec. 31, 2012

</div>
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</div>
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          <div>Rental Expenses [Member]

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          <div>Dec. 31, 2013

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          <div>Dec. 31, 2011

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          <div>Service Expenses [Member]

</div>
          <div>USD ($)</div>
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</div>
          <div>Cash Proceeds from Transactions [Member]

</div>
          <div>USD ($)</div>
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</div>
          <div>USD ($)</div>
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</div>
          <div>Cash Proceeds from Transactions [Member]

</div>
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</div>
          <div>USD ($)</div>
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</div>
          <div>Cash Payments for Transactions [Member]

</div>
          <div>USD ($)</div>
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        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Cash Payments for Transactions [Member]

</div>
          <div>USD ($)</div>
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        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Daqo Group [Member]

</div>
          <div>USD ($)</div>
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        <th class="th">
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</div>
          <div>Daqo Group [Member]

</div>
          <div>USD ($)</div>
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          <div>Dec. 31, 2011

</div>
          <div>Daqo Group [Member]

</div>
          <div>USD ($)</div>
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          <div>Daqo Group [Member]

</div>
          <div>Proceeds from Financing Transaction [Member]

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          <div>Daqo Group [Member]

</div>
          <div>Proceeds from Financing Transaction [Member]

</div>
          <div>USD ($)</div>
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        <th class="th">
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</div>
          <div>Daqo Group [Member]

</div>
          <div>Proceeds from Financing Transaction [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
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</div>
          <div>Daqo Group [Member]

</div>
          <div>Payments for Financing Transaction [Member]

</div>
          <div>USD ($)</div>
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</div>
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</div>
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</div>
          <div>USD ($)</div>
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</div>
          <div>Payments for Financing Transaction [Member]

</div>
          <div>USD ($)</div>
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</div>
          <div>Daqo Group [Member]

</div>
          <div>Disposition of Subsidiary [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Daqo Group [Member]

</div>
          <div>Disposition of Subsidiary [Member]

</div>
          <div>USD ($)</div>
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        <th class="th">
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</div>
          <div>Daqo Group [Member]

</div>
          <div>Disposition of Subsidiary [Member]

</div>
          <div>USD ($)</div>
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        <th class="th">
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</div>
          <div>Daqo Group [Member]

</div>
          <div>Purchases of Fixed Assets [Member]

</div>
          <div>USD ($)</div>
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        <th class="th">
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</div>
          <div>Daqo Group [Member]

</div>
          <div>Purchases of Fixed Assets [Member]

</div>
          <div>USD ($)</div>
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        <th class="th">
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</div>
          <div>Daqo Group [Member]

</div>
          <div>Purchases of Fixed Assets [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
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</div>
          <div>Zhengjiang Daqo Solar Co. Ltd [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
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</div>
          <div>Zhengjiang Daqo Solar Co. Ltd [Member]

</div>
          <div>USD ($)</div>
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        <th class="th">
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</div>
          <div>Zhengjiang Daqo Solar Co. Ltd [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Zhengjiang Daqo Solar Co. Ltd [Member]

</div>
          <div>Daqo Group [Member]</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Zhengjiang Daqo Solar Co. Ltd [Member]

</div>
          <div>Wafer [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Zhengjiang Daqo Solar Co. Ltd [Member]

</div>
          <div>Wafer [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Zhengjiang Daqo Solar Co. Ltd [Member]

</div>
          <div>Polysilicon [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Zhengjiang Daqo Solar Co. Ltd [Member]

</div>
          <div>Polysilicon [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Zhengjiang Daqo Solar Co. Ltd [Member]

</div>
          <div>Purchases of Raw Materials [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Zhengjiang Daqo Solar Co. Ltd [Member]

</div>
          <div>Purchases of Raw Materials [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Zhengjiang Daqo Solar Co. Ltd [Member]

</div>
          <div>Purchases of Raw Materials [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Zhengjiang Daqo Solar Co. Ltd [Member]

</div>
          <div>Processing Fees [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Zhengjiang Daqo Solar Co. Ltd [Member]

</div>
          <div>Processing Fees [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Zhengjiang Daqo Solar Co. Ltd [Member]

</div>
          <div>Processing Fees [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Daqo Group [Member]</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Proceeds from Financing Transaction [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Proceeds from Financing Transaction [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Proceeds from Financing Transaction [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Payments for Financing Transaction [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Payments for Financing Transaction [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Payments for Financing Transaction [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Loan Extended [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Loan Extended [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Loan Extended [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Purchases of Fixed Assets [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Purchases of Fixed Assets [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Purchases of Fixed Assets [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Prepayment Received [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Prepayment Received [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Daqo Solar Co Ltd [Member]

</div>
          <div>Prepayment Received [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Nanjing Daqo [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Nanjing Daqo [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Nanjing Daqo [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Nanjing Daqo [Member]

</div>
          <div>Daqo Group [Member]</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Nanjing Daqo [Member]

</div>
          <div>Loan Extended [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Nanjing Daqo [Member]

</div>
          <div>Loan Extended [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Nanjing Daqo [Member]

</div>
          <div>Loan Extended [Member]

</div>
          <div>CNY</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Nanjing Daqo [Member]

</div>
          <div>Loan Extended [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Daqo Xinjiang Investment Co., Ltd. [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Daqo Xinjiang Investment Co., Ltd. [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Daqo Xinjiang Investment Co., Ltd. [Member]

</div>
          <div>Daqo Group [Member]</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Daqo Xinjiang Investment Co., Ltd. [Member]

</div>
          <div>Proceeds from Financing Transaction [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Daqo Xinjiang Investment Co., Ltd. [Member]

</div>
          <div>Proceeds from Financing Transaction [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Daqo Xinjiang Investment Co., Ltd. [Member]

</div>
          <div>Proceeds from Financing Transaction [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Daqo Xinjiang Investment Co., Ltd. [Member]

</div>
          <div>Payments for Financing Transaction [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Daqo Xinjiang Investment Co., Ltd. [Member]

</div>
          <div>Payments for Financing Transaction [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Daqo Xinjiang Investment Co., Ltd. [Member]

</div>
          <div>Payments for Financing Transaction [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Daqo Xinjiang Investment Co., Ltd. [Member]

</div>
          <div>Prepayment Received [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Daqo Xinjiang Investment Co., Ltd. [Member]

</div>
          <div>Prepayment Received [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Daqo Xinjiang Investment Co., Ltd. [Member]

</div>
          <div>Prepayment Received [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Other Subsidiaries of Daqo Group [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Other Subsidiaries of Daqo Group [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Other Subsidiaries of Daqo Group [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Other Subsidiaries of Daqo Group [Member]

</div>
          <div>Purchases of Fixed Assets [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Other Subsidiaries of Daqo Group [Member]

</div>
          <div>Purchases of Fixed Assets [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Other Subsidiaries of Daqo Group [Member]

</div>
          <div>Purchases of Fixed Assets [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Other Subsidiaries of Daqo Group [Member]

</div>
          <div>Purchases of Raw Materials [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Other Subsidiaries of Daqo Group [Member]

</div>
          <div>Purchases of Raw Materials [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Other Subsidiaries of Daqo Group [Member]

</div>
          <div>Purchases of Raw Materials [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Other Subsidiaries of Daqo Group [Member]

</div>
          <div>Rental Expenses [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Other Subsidiaries of Daqo Group [Member]

</div>
          <div>Rental Expenses [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Other Subsidiaries of Daqo Group [Member]

</div>
          <div>Rental Expenses [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Other Subsidiaries of Daqo Group [Member]

</div>
          <div>Service Expenses [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Other Subsidiaries of Daqo Group [Member]

</div>
          <div>Service Expenses [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Other Subsidiaries of Daqo Group [Member]

</div>
          <div>Service Expenses [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Daqo New Material [Member]

</div>
          <div>Daqo Group [Member]</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">100.00%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">100.00%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromRelatedParties', window );">Sales</a></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">$ 1,971<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">$ 2,799,428<span></span></td>
        <td class="nump">$ 6,958,317<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">$ 2,179,723<span></span></td>
        <td class="nump">$ 4,600,646<span></span></td>
        <td class="nump">$ 619,705<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
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        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
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        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">8,052,089<span></span></td>
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        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">5,282<span></span></td>
        <td class="nump">3,614,689<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">7,849,533<span></span></td>
        <td class="nump">15,787,658<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&nbsp;&nbsp;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">20,562,272<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">5,282<span></span></td>
        <td class="nump">300,574<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty', window );">Processing fee</a></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
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        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">1,209,769<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">1,209,769<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionRate', window );">Interest rate on loan</a></td>
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        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">612,856<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">71,426<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">612,856<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">71,426<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related party balances:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesCurrent', window );">Amount due from related parties</a></td>
        <td class="nump">13,416,452<span></span></td>
        <td class="nump">6,562,487<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">6,465,561<span></span></td>
        <td class="nump">6,440,129<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5,110,085<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,330,044<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">6,898,980<span></span></td>
        <td class="nump">10,744<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">51,911<span></span></td>
        <td class="nump">111,614<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent', window );">Change in amount due from related parties</a></td>
        <td class="nump">6,853,965<span></span></td>
        <td class="num">(8,418,601)<span></span></td>
        <td class="nump">7,390,878<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Amount due to related party</a></td>
        <td class="nump">$ 88,537,790<span></span></td>
        <td class="nump">$ 23,708,363<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="fn" style="border-bottom: 0px;"></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 461,796<span></span></td>
        <td class="nump">$ 5,359,007<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 66,750,009<span></span></td>
        <td class="nump">$ 13,497,973<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 1,651,810<span></span></td>
        <td class="nump">$ 1,645,923<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 18,482,300<span></span></td>
        <td class="nump">$ 2,354,620<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 1,191,875<span></span></td>
        <td class="nump">$ 850,840<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr>
        <td colspan="118"></td>
      </tr>
      <tr>
        <td colspan="118">
          <table class="outerFootnotes" width="100%">
            <tr class="outerFootnote">
              <td style="vertical-align: top;" valign="top">[1]</td>
              <td style="vertical-align: top;" valign="top">Prepayment has been considered a related party loan given there has been no deliveries since the prepayment was provided.</td>
            </tr>
          </table>
        </td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromRelatedPartiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (d)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 3<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.3(a)(2))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (d)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph k<br><br> -Subparagraph 2<br><br> -Article 4<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DueFromRelatedPartiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (d)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph k<br><br> -Subparagraph 1<br><br> -Article 4<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DueToRelatedPartiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate increase (decrease) during the reporting period in the amount due from the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseRelatedParty">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of interest expense incurred on a debt or other obligation to related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestExpenseRelatedParty</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestOwnershipPercentageByParent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The parent entity's interest in net assets of the subsidiary, expressed as a percentage.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_MinorityInterestOwnershipPercentageByParent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of transactions with related party during the financial reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RelatedPartyTransactionAmountsOfTransaction</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Expenses recognized resulting from transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RelatedPartyTransactionLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Reflects the sum of all other revenue and income realized from sales and other transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Purchases during the period (excluding transactions that are eliminated in consolidated or combined financial statements) with related party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Identify the stated interest rate per the agreement, for example, leasing and debt arrangements between related parties.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RelatedPartyTransactionRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromRelatedParties">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1(e))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Related Parties<br><br> -URI http://asc.fasb.org/extlink&amp;oid=16382449<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 946<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.6-07.1(c))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6488393&amp;loc=d3e606610-122999<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 07<br><br> -Paragraph b<br><br> -Subparagraph 1<br><br> -Article 6<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RevenueFromRelatedParties</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
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<SEQUENCE>74
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EQABG">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
        <td class="nump">$ 7,831,084<span></span></td>
        <td class="nump">$ 6,679,024<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
        <td class="nump">8,826,110<span></span></td>
        <td class="nump">10,649,745<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable, net of allowance for doubtful accounts of $1,592,467 and $7,160,782 as of December 31, 2012 and 2013</a></td>
        <td class="nump">9,909,662<span></span></td>
        <td class="nump">27,822,799<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesAndLoansReceivableNetCurrent', window );">Notes receivables</a></td>
        <td class="nump">15,929,627<span></span></td>
        <td class="nump">4,631,370<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepaid expenses and other current assets</a></td>
        <td class="nump">23,870,690<span></span></td>
        <td class="nump">23,933,967<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdvancesOnInventoryPurchases', window );">Advances to suppliers</a></td>
        <td class="nump">860,546<span></span></td>
        <td class="nump">737,794<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventories</a></td>
        <td class="nump">10,500,256<span></span></td>
        <td class="nump">15,135,522<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesCurrent', window );">Amount due from related parties</a></td>
        <td class="nump">13,416,452<span></span></td>
        <td class="nump">6,562,487<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetCurrent', window );">Deferred tax assets - current</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">358,435<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
        <td class="nump">91,144,427<span></span></td>
        <td class="nump">96,511,143<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property, plant and equipment, net</a></td>
        <td class="nump">488,504,183<span></span></td>
        <td class="nump">677,895,274<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseNoncurrent', window );">Prepaid land use rights</a></td>
        <td class="nump">30,377,493<span></span></td>
        <td class="nump">36,157,610<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetNoncurrent', window );">Deferred tax assets</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">1,057,066<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrent', window );">Other non-current assets</a></td>
        <td class="nump">173,440<span></span></td>
        <td class="nump">4,686,711<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">TOTAL ASSETS</a></td>
        <td class="nump">610,199,543<span></span></td>
        <td class="nump">816,307,804<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtCurrent', window );">Short-term borrowings, including current portion of long-term borrowings</a></td>
        <td class="nump">118,870,857<span></span></td>
        <td class="nump">120,279,760<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
        <td class="nump">17,695,490<span></span></td>
        <td class="nump">12,346,063<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableCurrent', window );">Notes payable</a></td>
        <td class="nump">1,573,646<span></span></td>
        <td class="nump">21,334,082<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CustomerAdvancesCurrent', window );">Advances from customers</a></td>
        <td class="nump">13,217,775<span></span></td>
        <td class="nump">29,396,238<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesCurrent', window );">Payables for purchases of property, plant and equipment</a></td>
        <td class="nump">51,766,695<span></span></td>
        <td class="nump">45,468,680<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_AccruedExpensesAndOtherCurrentLiabilities', window );">Accrued expenses and other current liabilities</a></td>
        <td class="nump">7,461,621<span></span></td>
        <td class="nump">7,617,455<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Amount due to related parties</a></td>
        <td class="nump">88,537,790<span></span></td>
        <td class="nump">23,708,363<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TaxesPayableCurrent', window );">Income tax payable</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">160,480<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
        <td class="nump">299,123,874<span></span></td>
        <td class="nump">260,311,121<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Long-term borrowings</a></td>
        <td class="nump">134,870,287<span></span></td>
        <td class="nump">187,520,880<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesNoncurrent', window );">Long-term payables for purchase of property, plant and equipment</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">1,126,255<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CustomerAdvancesNoncurrent', window );">Advance from customers</a></td>
        <td class="nump">11,924,121<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherDeferredCreditsNoncurrent', window );">Deferred government subsidies</a></td>
        <td class="nump">26,954,700<span></span></td>
        <td class="nump">26,472,135<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
        <td class="nump">472,872,982<span></span></td>
        <td class="nump">475,430,391<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments (Note 17)</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Daqo New Energy Corp. shareholders' equity:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValueOutstanding', window );">Ordinary shares; $0.0001 per value 500,000,000 shares authorized as of December 31, 2012 and 2013; 175,714,103 and 175,714,103 shares issued as of December 31, 2012 and 2013, respectively and 172,877,433 and 173,427,853 shares outstanding as of December 31, 2012 and 2013, respectively</a></td>
        <td class="nump">17,343<span></span></td>
        <td class="nump">17,288<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid in capital</a></td>
        <td class="nump">146,676,163<span></span></td>
        <td class="nump">144,755,902<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings (accumulated losses)</a></td>
        <td class="num">(32,667,469)<span></span></td>
        <td class="nump">38,276,015<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income</a></td>
        <td class="nump">23,699,196<span></span></td>
        <td class="nump">19,551,006<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValue', window );">Treasury Stock, at cost (2,836,670 and 2,286,250 shares as of December 31, 2012 and 2013, respectively)</a></td>
        <td class="num">(398,672)<span></span></td>
        <td class="num">(494,928)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total Daqo New Energy Corp. shareholders' equity</a></td>
        <td class="nump">137,326,561<span></span></td>
        <td class="nump">202,105,283<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterest', window );">Noncontrolling interest</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">138,772,130<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Total equity</a></td>
        <td class="nump">137,326,561<span></span></td>
        <td class="nump">340,877,413<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">TOTAL LIABILITIES AND EQUITY</a></td>
        <td class="nump">$ 610,199,543<span></span></td>
        <td class="nump">$ 816,307,804<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_AccruedExpensesAndOtherCurrentLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accrued expenses and other current liabilities</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_AccruedExpensesAndOtherCurrentLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsPayableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3-4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a(1)<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 4<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsReceivableNetCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=SL7669686-108580<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 11<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e637-108580<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e681-108580<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.30(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdditionalPaidInCapitalCommonStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdvancesOnInventoryPurchases">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value of capitalized payments made in advance for inventory that is expected to be received within one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdvancesOnInventoryPurchases</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 12<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Assets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 9<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3044-108585<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 450<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.25)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 25<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 9<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-03.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.(a),19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommitmentsAndContingencies</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValueOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of all classes of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares exclude common shares repurchased by the entity and held as treasury shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockValueOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CustomerAdvancesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The current portion of prepayments received from customers for goods or services to be provided in the future.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CustomerAdvancesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CustomerAdvancesNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The noncurrent portion of prepayments received from customers for goods or services to be provided in the future.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.24)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CustomerAdvancesNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of short-term debt and current maturity of long-term debt and capital lease obligations due within one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31917-109318<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31931-109318<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31928-109318<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31958-109318<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsNetCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31917-109318<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31931-109318<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31928-109318<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31958-109318<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsNetNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromRelatedPartiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3(a)(2))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph k<br><br><br><br> -Subparagraph 2<br><br><br><br> -Article 4<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DueFromRelatedPartiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph k<br><br><br><br> -Subparagraph 1<br><br><br><br> -Article 4<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DueToRelatedPartiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 35<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386567&amp;loc=d3e3927-108312<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19-26)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Liabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.32)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 25<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 32<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesAndStockholdersEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 21<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesCurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 27<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_MinorityInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesAndLoansReceivableNetCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>An amount representing an agreement for an unconditional promise by the maker to pay the Company (holder) a definite sum of money within one year from the balance sheet date (or the normal operating cycle, whichever is longer), net of any write-downs taken for collection uncertainty on the part of the holder. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28367877&amp;loc=d3e4531-111522<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NotesAndLoansReceivableNetCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NotesPayableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherAssetsNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherDeferredCreditsNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date of unearned revenue or income not otherwise specified in the taxonomy which is expected to be taken into income after one year or beyond the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 13<br><br><br><br> -Section A<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.26)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 605<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 13.A.Q4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherDeferredCreditsNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate carrying amount of current liabilities (due within one year or within the normal operating cycle if longer) not separately disclosed in the balance sheet. Includes costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6904-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherLiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.24)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 24<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherLiabilitiesNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PrepaidExpenseAndOtherAssetsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of amounts paid in advance for expenses which will be charged against earnings in periods after one year or beyond the operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PrepaidExpenseNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PropertyPlantAndEquipmentNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.31(a)(3))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RetainedEarningsAccumulatedDeficit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30, 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquity</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquityAbstract</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568447-111683<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 16<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568740-111683<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 4I<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31814832&amp;loc=SL4590271-111686<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TaxesPayableCurrent</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23315-112656<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TreasuryStockValue</nobr></td>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>VARIABLE INTEREST ENTITY (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityVIEOrPotentialVIEInformationUnavailabilityDisclosuresAbstract', window );"><strong>VARIABLE INTEREST ENTITY [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock', window );">Schedule of Variable Interest Entities Financial Information</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Daqo New Material leased all of its assets for use in the Group&#39;s operations. Significant assets, liabilities, revenues, operating costs and expenses and net income of the VIE are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td>&nbsp;</td> <td colspan="2">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td colspan="2">&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 74%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Cash</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">189,312</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Property, plant and equipment</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">162,396,825</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Prepaid land use rights</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">6,632,643</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total Assets</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">173,450,176</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Short-term borrowings, including current portion of long-term borrowings</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">19,257,600</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Accrued expenses and other current liabilities</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">512,708</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Amount due to related party</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">467,568</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt">Long-term borrowings</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">14,443,200</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total Liabilities</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">34,678,046</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2011</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 61%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Revenues*</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">16,852,928</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">10,743,336</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">**</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Operating costs and expenses</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">15,262,768</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">14,451,810</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">150,147,024</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Net income (loss)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">1,590,160</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">(3,708,474</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">(150,147,024</td> <td style="TEXT-ALIGN: left">)</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> *Rental income, eliminated in consolidation.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> ** The lease term was amended at the beginning of 2013 and reduced the rent to 0 per month and was later terminated on December 30, 2013.</p> <!--EndFragment--></div> </div><span></span></td>
      </tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28200181&amp;loc=d3e5710-111685<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28200181&amp;loc=SL6759159-111685<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28200181&amp;loc=d3e5747-111685<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28200181&amp;loc=d3e5728-111685<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28200181&amp;loc=SL6228884-111685<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Variable Interest Entity<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6528138<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_VariableInterestEntityVIEOrPotentialVIEInformationUnavailabilityDisclosuresAbstract</nobr></td>
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<html>
  <head>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EJLBI">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Total</div>
        </th>
        <th class="th">
          <div>Ordinary shares [Member]</div>
        </th>
        <th class="th">
          <div>Treasury stock [Member]</div>
        </th>
        <th class="th">
          <div>Additional paid in capital [Member]</div>
        </th>
        <th class="th">
          <div>Retained earnings [Member]</div>
        </th>
        <th class="th">
          <div>Accumulated other comprehensive income [Member]</div>
        </th>
        <th class="th">
          <div>Noncontrolling interest [Member]</div>
        </th>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Dec. 31, 2010</a></td>
        <td class="nump">$ 396,422,834<span></span></td>
        <td class="nump">$ 17,571<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">$ 140,305,556<span></span></td>
        <td class="nump">$ 116,881,004<span></span></td>
        <td class="nump">$ 6,276,868<span></span></td>
        <td class="nump">$ 132,941,835<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance, shares at Dec. 31, 2010</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">175,714,103<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income (loss)</a></td>
        <td class="nump">34,914,112<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">33,323,952<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">1,590,160<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income</a></td>
        <td class="nump">18,483,256<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">12,167,255<span></span></td>
        <td class="nump">6,316,001<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
        <td class="nump">2,206,025<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">2,206,025<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Dec. 31, 2011</a></td>
        <td class="nump">452,026,227<span></span></td>
        <td class="nump">17,571<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">142,511,581<span></span></td>
        <td class="nump">150,204,956<span></span></td>
        <td class="nump">18,444,123<span></span></td>
        <td class="nump">140,847,996<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance, shares at Dec. 31, 2011</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">175,714,103<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income (loss)</a></td>
        <td class="num">(115,637,415)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(111,928,941)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(3,708,474)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income</a></td>
        <td class="nump">3,838,790<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">2,206,182<span></span></td>
        <td class="nump">1,632,608<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
        <td class="nump">2,249,834<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">2,249,834<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValueAcquiredParValueMethod', window );">Stock Repurchases</a></td>
        <td class="num">(500,724)<span></span></td>
        <td class="num">(283)<span></span></td>
        <td class="num">(494,928)<span></span></td>
        <td class="num">(5,513)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockSharesAcquired', window );">Stock Repurchases, shares</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(2,836,670)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Disposal of Nanjing Daqo New Energy Co., Ltd</a></td>
        <td class="num">(1,099,299)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(1,099,299)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Dec. 31, 2012</a></td>
        <td class="nump">340,877,413<span></span></td>
        <td class="nump">17,288<span></span></td>
        <td class="num">(494,928)<span></span></td>
        <td class="nump">144,755,902<span></span></td>
        <td class="nump">38,276,015<span></span></td>
        <td class="nump">19,551,006<span></span></td>
        <td class="nump">138,772,130<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance, shares at Dec. 31, 2012</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">172,877,433<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income (loss)</a></td>
        <td class="num">(221,090,508)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(70,943,484)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(150,147,024)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income</a></td>
        <td class="nump">5,543,033<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">4,148,190<span></span></td>
        <td class="nump">1,394,843<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
        <td class="nump">1,881,401<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">1,881,401<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
        <td class="nump">9,980,051<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">9,980,051<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of options</a></td>
        <td class="nump">135,171<span></span></td>
        <td class="nump">55<span></span></td>
        <td class="nump">96,256<span></span></td>
        <td class="nump">38,860<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Exercise of options, shares</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">550,420<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Dec. 31, 2013</a></td>
        <td class="nump">$ 137,326,561<span></span></td>
        <td class="nump">$ 17,343<span></span></td>
        <td class="num">$ (398,672)<span></span></td>
        <td class="nump">$ 146,676,163<span></span></td>
        <td class="num">$ (32,667,469)<span></span></td>
        <td class="nump">$ 23,699,196<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance, shares at Dec. 31, 2013</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">173,427,853<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 35<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415241&amp;loc=d3e4534-113899<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 20<br><br> -Section 55<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11149-113907<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 20<br><br> -Section 55<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11178-113907<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of foreign currency translation gains or losses included in the disposal group, whether or not a component of the entity (discontinued operation), that were previously reported in accumulated other comprehensive Income or Loss.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 20<br><br> -Subparagraph (d)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of the reduction or elimination during the period of a noncontrolling interest resulting from the parent's loss of control and deconsolidation of the entity in which one or more outside parties had a noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax and reclassification adjustments of other comprehensive income (loss).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=SL7669619-108580<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherComprehensiveIncomeLossNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31814832&amp;loc=SL4591552-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31814832&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProfitLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharesIssued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SharesIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568447-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568740-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4I<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31814832&amp;loc=SL4590271-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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              </div>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of share options (or share units) exercised during the current period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28,29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iv)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of stock issued as a result of the exercise of stock options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td>xbrli:monetaryItemType</td>
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                    <td>duration</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares that have been repurchased during the period and are being held in treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TreasuryStockSharesAcquired</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the par value method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TreasuryStockValueAcquiredParValueMethod</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td>duration</td>
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  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EABAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>BORROWINGS (Schedule of Principal Maturities of Bank Borrowings) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>BORROWINGS [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths', window );">2014</a></td>
        <td class="nump">$ 50,049,843<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">2015</a></td>
        <td class="nump">77,056,937<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">2016</a></td>
        <td class="nump">57,813,350<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Total</a></td>
        <td class="nump">$ 184,920,130<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtDisclosureAbstract">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtDisclosureAbstract</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 16<br><br> -Article 7<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 16<br><br> -Article 9<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20, 22<br><br> -Article 5<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebt</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 470<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths</nobr></td>
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                    <td><strong> Balance Type:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 470<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree</nobr></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 470<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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<html>
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    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>PROPERTY, PLANT AND EQUIPMENT, NET (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>PROPERTY, PLANT AND EQUIPMENT, NET [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentTextBlock', window );">Schedule of Property, Plant and Equipment, Net</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Property, plant and equipment, net, consist of the following:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt">Cost</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Buildings and plant</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">437,805,571</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">235,690,310</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Machinery and equipment</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">344,782,948</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">355,429,034</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Furniture, fixtures and equipment</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">9,233,575</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">21,329,752</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Motor vehicles</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">519,923</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">262,562</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Less: Accumulated depreciation</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (133,746,851</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (145,031,744</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Property, plant and equipment, net</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">658,595,166</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">467,679,944</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Construction in process</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 19,300,108</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 20,824,239</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 677,895,274</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 488,504,183</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PropertyPlantAndEquipmentNetAbstract</nobr></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.13)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 13<br><br> -Subparagraph b<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
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<html>
  <head>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EZGAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>INCOME TAXES (Schedule of Income Tax Expenses) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>INCOME TAXES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentIncomeTaxExpenseBenefit', window );">Current Tax Expenses (Benefit)</a></td>
        <td class="num">$ (162,621)<span></span></td>
        <td class="num">$ (1,894,736)<span></span></td>
        <td class="nump">$ 20,647,400<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefit', window );">Deferred Tax Expenses (Benefit)</a></td>
        <td class="nump">1,434,386<span></span></td>
        <td class="nump">12,148,323<span></span></td>
        <td class="num">(19,933,128)<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefitIntraperiodTaxAllocation', window );">Total</a></td>
        <td class="nump">$ 1,271,765<span></span></td>
        <td class="nump">$ 10,253,587<span></span></td>
        <td class="nump">$ 714,272<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentIncomeTaxExpenseBenefit">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I.7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Current Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509736<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 6<br><br> -Section I<br><br> -Subsection 7<br><br><br><br></p>
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                <p>Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I.7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 6<br><br> -Section I<br><br> -Subsection 7<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Deferred Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br></p>
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                <p>The sum of income tax expense or benefit for the period that has been allocated among continuing operations, discontinued operations, extraordinary items, other comprehensive income, and items charged or credited directly to shareholders' equity.</p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS AND BALANCES<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock', window );">RELATED PARTY TRANSACTIONS AND BALANCES</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>15. RELATED PARTY TRANSACTIONS AND BALANCES</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 23pt"><font style="FONT: 10pt Times New Roman, Times, Serif">(1) &nbsp;</font> </td> <td style="FONT: 10pt Times New Roman, Times, Serif">The relationships between the Group and related party are as follows:</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 52%"> <p style="BORDER-BOTTOM: black 0.75pt solid; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Name of the related party</strong></p> </td> <td style="WIDTH: 2%">&nbsp;</td> <td style="WIDTH: 46%"> <p style="BORDER-BOTTOM: black 0.75pt solid; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Relationship</strong></p> </td> </tr> <tr> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> Daqo Group</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> An affiliated company representing the parent company of Daqo New Material holding 100% equity ownership of Daqo New Material. Daqo Group and the Company are controlled by same group of shareholders.</td> </tr> <tr> <td style="VERTICAL-ALIGN: top"><font style="FONT: 10pt Times New Roman, Times, Serif">Zhengjiang&nbsp;Daqo&nbsp;Solar&nbsp;Co.&nbsp;Ltd("Zhenjiang&nbsp;Daqo)&nbsp;</font> </td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> An affiliated company which is 100% held by Daqo Group</td> </tr> <tr> <td style="VERTICAL-ALIGN: top"><font style="FONT: 10pt Times New Roman, Times, Serif">Daqo Solar Co. Ltd ("Daqo Solar")</font> </td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> An affiliated company which is 100% held by Daqo Group</td> </tr> <tr> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> Nanjing Daqo</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> An affiliated company which was 100% held by the Company before September 28, 2012 and is 100% held by Daqo Group since September 28, 2012</td> </tr> <tr> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> Daqo Xinjiang Investment Co., Ltd. ("Xinjiang Daqo Investment")</td> <td style="VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> An affiliated company which is 100% held by Daqo Group</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 23pt"><font style="FONT: 10pt Times New Roman, Times, Serif">(2) &nbsp;</font> </td> <td style="FONT: 10pt Times New Roman, Times, Serif">Related party balances:</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The balance with Daqo Group and its subsidiaries was as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The balances due from related parties mainly include the consideration for the transfer of 100% ownership of Nanjing Daqo to Daqo Group amount due from Zhenjiang Daqo for the sales of wafer and polysilicon. Such balances are unsecured, interest-free, and are payable on demand. The balances are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Amount due from related party</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Zhenjiang Daqo</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">10,744</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">6,898,980</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Daqo Group</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">6,440,129</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">6,465,561</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Others</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 111,614</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 51,911</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td>&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 6,562,487</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 13,416,452</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Balances due to related parties related to interest free loans received primarily for working capital purposes from Daqo Solar and Xinjiang Daqo Investment, wholly-owned subsidiaries of Daqo Group. The balances are payable on demand and are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Amount due to related party</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Daqo Group</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">5,359,007</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">461,796</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Xinjiang Daqo Investment</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">2,354,620</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">18,482,300</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Nanjing Daqo</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,645,923</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,651,810</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Daqo Solar</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">13,497,973</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">66,750,009</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Others</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 850,840</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,191,875</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td>&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 23,708,363</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 88,537,790</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="MARGIN-BOTTOM: 0pt; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0pt">&nbsp;</td> <td style="WIDTH: 23pt">(3)</td> <td>The transactions with Daqo Group and its subsidiaries were as follows:</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;&nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"> Transaction</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year Ended December 31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold" nowrap="nowrap">Name of Related parties</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold"> Nature</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2011</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 15%">Daqo Group</td> <td style="WIDTH: 1%"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; WIDTH: 30%">Sales</td> <td style="WIDTH: 1%"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 15%"> 1,971</td> <td style="WIDTH: 1%; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="WIDTH: 1%"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 15%">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="WIDTH: 1%"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right; WIDTH: 15%">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Purchase-Fixed asset</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">15,787,658</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">7,849,533</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Financing-cash in</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">3,095,120</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">813,105</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Financing-cash out</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">3,095,120</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">813,105</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Disposition of 100% equity interest of Nan Jing Daqo</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">9,888,742</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">&nbsp;&nbsp;Zhenjiang Daqo</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Sales</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">6,958,317</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">2,799,428</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">13,471,866</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Purchase of cells</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">3,314,115</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Processing fee</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">1,209,769</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Daqo Solar</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Purchase-Fixed asset</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">20,562,272</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Prepayment received</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">13,497,973</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Financing-cash in</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">72,199,600</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">76,881,392</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Financing-cash out</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">72,199,600</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">28,379,678</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Interest charged</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">1,552,126</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Short-term interest free loan extended to Daqo Solar</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">9,898,458</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">&nbsp;&nbsp;Nanjing Daqo</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Sales</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">80,126</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Related party interest bearing loan</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">1,584,820</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Interest charged</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">40,611</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Xinjiang Daqo Investment</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Prepayment received</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">2,354,620</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Financing-cash in</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">58,389,643</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Financing-cash out</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">40,193,785</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Others subsidiaries under Daqo Group</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Sales</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">427,302</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Purchase-Fixed asset</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">2,027,001</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">202,556</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">157,742</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt">Purchase-Raw material</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">300,574</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">5,282</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left">Rental expense</td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">612,856</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"> Service expense</td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 71,426</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 1pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt">Total</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt">Sales</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 7,387,590</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 2,799,427</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 13,471,866</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Disposition of 100% equity interest in Nanjing Daqo</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 9,888,742</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt">Purchase-Fixed asset</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 38,376,931</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 8,052,089</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 157,742</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt">Purchase-Raw material</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 3,614,689</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 5,282</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Processing fee</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 1,209,769</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Rental expense</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 612,856</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Service expense</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 71,426</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Interest expense</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 1,552,126</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 40,611</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Prepayment received*</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 15,852,593</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Proceeds from interest free loans</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 75,294,720</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 1,584,820</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 136,084,140</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="FONT-SIZE: 8pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Repayment of interest free loans</td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 85,193,178</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="PADDING-BOTTOM: 2.5pt"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-SIZE: 8pt; TEXT-ALIGN: right"> 69,386,568</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt">&nbsp;</font> </td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">* Prepayment has been considered a related party loan given there has been no deliveries since the prepayment was provided.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong><u>Related party transactions with Daqo Group</u></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2011, the Group purchased auxiliary electricity transmission and system equipment totaling $15.8 million from Daqo Group. Daqo Group and its subsidiaries are mainly engaged in High-Low-voltage Electrical System, Components, Environmental Protection, and High-speed Railway Equipment.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2011, the Company received an interest fee loan of $3,095,120 from Daqo Group, which was fully repaid during the year.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2012, the Company sold 100% equity interest in Nanjing Daqo to Daqo Group for a consideration of $9,888,742 and $5,110,085 was owed by Daqo Group as of December 31, 2012. In addition, the Company purchased fixed assets totaling $7,849,533 from Daqo Group and had $5,359,007 due to Daqo Group as of December 31, 2012. Furthermore, $1,330,044 was prepaid to purchase fixed assets separately as of December 31, 2012.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2013, the Company received an interest free loan of $813,105 from Daqo Group, which was fully repaid during the year.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong><u>Related party transactions with Zhenjiang Daqo</u></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2011, the Company sold $6,958,317 wafers, and purchased cells of $3,314,115, and paid processing fees of $1,209,769 to Zhenjiang Daqo for tolling arrangements on cells.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2012, the Company sold wafers totaling of $ 2,179,723 and polysilicon of $619,705 to Zhenjiang Daqo.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2013, the Company sold wafers totaling of $8,871,220 and polysilicon of $4,600,646 to Zhenjiang Daqo.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong><u>Related party transactions with Daqo Solar</u></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2011, the Company received loans of $72,199,600 from Daqo Solar, which were fully repaid during the year and accrued interest of $1,552,126. As of December&nbsp;31, 2011, the Company provided an interest free loan of $9,898,458 to Daqo Solar.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2012, the Company entered into a polysilicon sales contract with Daqo Solar, and $13,497,973 payment in advance was received as of December 31, 2012. The prepayment was transfer to an interest free loan in 2013.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2013, the Company received interest free loans of $76,881,392 from Daqo Solar and repaid $28,379,678 during the year.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0px"> <strong><u>Related party transactions with Xinjiang Daqo Investment</u></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2012, the Company entered into a polysilicon sales contract with Xinjiang Daqo Investment, and $2,354,620 payment in advance was received as of December 31, 2012.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2013, the Company received interest free loans of $58,389,643 from Xinjiang Daqo Investment and repaid $40,193,785 during the year.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong><u>Related party transactions with Nanjing Daqo</u></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In August 2012, the Company entered into a one-year loan agreement with Nanjing Daqo, of $1,584,820 (RMB10 million). The interest rate is fixed at 6%. In addition, the Company sold cells of $80,126 to Nanjing Daqo.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2013, the Company agreed with Nanjing Daqo to extend the loan for one more year, interest free.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong><u>Related party transactions with other subsidiaries of Daqo Group</u></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2011, the Group purchased auxiliary electricity transmission and system equipment of $2.0 million from Daqo Group subsidiaries. The Group also sold modules of $427,302 to, purchased raw materials of $300,574 from and paid service fees of $71,426 to other subsidiaries of Daqo Group.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2012, the Company purchased equipment and raw material from other subsidiaries of Daqo Group at the cost of $ 202,556 and $ 5,282, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> In 2013, the Company purchase equipment from other subsidiaries of Daqo Group at the cost of $157,742.</p> <!--EndFragment--></div> </div><span></span></td>
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                <p>The entire disclosure for related party transactions. Examples of related party transactions include 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.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph b<br><br> -Article 3A<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph k<br><br> -Article 4<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39691-107864<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39678-107864<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EKH">
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          <div style="width: 200px;"><strong>BORROWINGS (Tables)<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>BORROWINGS [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtTableTextBlock', window );">Schedule of Bank Borrowings</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group&#39;s bank borrowings consisted of the following:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Short-term bank borrowings</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">49,748,800</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">39,643,440</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Long-term bank borrowings, current portion</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">69,006,400</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">50,049,843</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Other short-term borrowing</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,524,560</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 29,177,574</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total borrowings, current</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">120,279,760</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">118,870,857</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Long-term bank borrowings, non-current portion</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 187,520,880</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 134,870,287</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 307,800,640</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 253,741,144</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShortTermDebtTextBlock', window );">Schedule of Short-Term Borrowings</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group&#39;s short-term bank borrowing consisted of the following:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: left">Short-term borrowing guaranteed by Daqo Group</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">1,604,800</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">28,080,770</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 0.125in; TEXT-INDENT: -0.125in"> Short-term borrowing guaranteed by Daqo Group and Mr.&nbsp;Guangfu Xu and Mr.&nbsp;Xiang Xu</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">48,144,000</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Short-term borrowing guaranteed by Daqo Group and a third party</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 11,562,670</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 49,748,800</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 39,643,440</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock', window );">Schedule of Principal Maturities of Long-term Bank Borrowings</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The principal maturities of these long-term bank borrowings as of December&nbsp;31, 2013 are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif"> <strong>December&nbsp;31,</strong></td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Amount</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 85%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> 2014</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">50,049,843</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> 2015</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">77,056,937</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> 2016</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 57,813,350</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 184,920,130</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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                <p>Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.</p>
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                <p>Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 470<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br><br><br></p>
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                <p>Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>COMMITMENTS<br></strong></div>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsDisclosureTextBlock', window );">COMMITMENTS</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>17. COMMITMENTS</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>Capital commitments</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> As of December&nbsp;31, 2013, commitments outstanding for the purchase of property, plant and equipment approximated $36.7 million, which will be due subsequent to receipt of the purchases.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>Lease commitments</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group has operating lease commitments principally for its office in Shanghai. The lease expense was $612,856, $580,724 and $164,811 for the year ended December&nbsp;31, 2011, 2012 and 2013, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Future minimum lease payments are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 1in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">Year ending December&nbsp;31</td> <td nowrap="nowrap">&nbsp;</td> <td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">USD</td> <td nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 80%; TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"> 2014</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 17%; TEXT-ALIGN: right">1,121,476</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"> 2015</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,073,299</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"> 2016</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,073,299</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 30pt; TEXT-INDENT: -10pt"> Total</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 3,268,074</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.25)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 25<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 17<br><br> -Article 9<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.17)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.(a)(19))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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          <div style="width: 200px;"><strong>INCOME TAXES (Schedule of Effect of Tax Holidays) (Details) (USD $)<br>In Thousands, except Per Share data, unless otherwise specified</strong></div>
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          <div>Dec. 31, 2012</div>
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        <td class="text">&#xA0;<span></span></td>
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                <p>The amount of income taxes from which a reporting entity is exempt or for which it will receive a reduction in income taxes as a result of the income tax holiday granted by the taxing jurisdiction.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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                <p>Per share amount effect of the income tax benefit resulting from the income tax holidays granted by taxing jurisdictions.</p>
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          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)<br></strong></div>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="num">$ (115,637,415)<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">158,424,827<span></span></td>
        <td class="nump">42,754,481<span></span></td>
        <td class="nump">38,512,376<span></span></td>
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        <td class="nump">1,881,401<span></span></td>
        <td class="nump">2,249,834<span></span></td>
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        <td class="nump">29,905,734<span></span></td>
        <td class="nump">14,821,620<span></span></td>
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        <td class="nump">5,482,019<span></span></td>
        <td class="nump">359,733<span></span></td>
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        <td class="nump">37,371,791<span></span></td>
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        <td class="num">(10,295,169)<span></span></td>
        <td class="num">(5,985,616)<span></span></td>
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        <td class="num">(11,496,473)<span></span></td>
        <td class="num">(2,633,764)<span></span></td>
        <td class="num">(1,868,419)<span></span></td>
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        <td class="num">(15,042,913)<span></span></td>
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        <td class="num">(6,745,803)<span></span></td>
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        <td class="nump">8,418,601<span></span></td>
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        <td class="num">(841,195)<span></span></td>
        <td class="num">(26,718,866)<span></span></td>
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        <td class="nump">4,645,277<span></span></td>
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        <td class="nump">3,249,172<span></span></td>
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      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInNotesPayableCurrent', window );">Notes payable</a></td>
        <td class="num">(19,760,436)<span></span></td>
        <td class="nump">16,776,966<span></span></td>
        <td class="nump">4,557,116<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities', window );">Accrued expenses and other current liabilities</a></td>
        <td class="nump">468,946<span></span></td>
        <td class="num">(150,005)<span></span></td>
        <td class="num">(10,947,970)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_IncreaseDecreaseInAccruedWarrantyExpense', window );">Accrued warranty cost</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">297,244<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable', window );">Income tax payable</a></td>
        <td class="num">(160,480)<span></span></td>
        <td class="num">(8,052,589)<span></span></td>
        <td class="nump">1,431,902<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInCustomerAdvances', window );">Advances from customers</a></td>
        <td class="num">(4,254,342)<span></span></td>
        <td class="num">(8,794,585)<span></span></td>
        <td class="num">(8,967,939)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent', window );">Amount due to related party</a></td>
        <td class="num">(415,960)<span></span></td>
        <td class="nump">14,047,531<span></span></td>
        <td class="nump">1,993,223<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherDeferredLiability', window );">Deferred government subsidies</a></td>
        <td class="nump">482,563<span></span></td>
        <td class="nump">618,958<span></span></td>
        <td class="nump">25,127,831<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredIncomeTaxes', window );">Deferred tax assets</a></td>
        <td class="nump">1,415,502<span></span></td>
        <td class="nump">11,572,778<span></span></td>
        <td class="num">(21,732,585)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations', window );">Net cash provided by (used in) operating activities</a></td>
        <td class="num">(16,525,817)<span></span></td>
        <td class="num">(10,307,234)<span></span></td>
        <td class="nump">44,857,910<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Investing activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchases of property, plant and equipment</a></td>
        <td class="num">(32,504,507)<span></span></td>
        <td class="num">(105,659,395)<span></span></td>
        <td class="num">(252,704,147)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInRestrictedCash', window );">Increase/(decrease) in restricted cash</a></td>
        <td class="nump">1,823,635<span></span></td>
        <td class="nump">80,435<span></span></td>
        <td class="num">(11,536,224)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToFundLongtermLoansToRelatedParties', window );">Interest free loan to related parties</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(9,898,458)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested', window );">Proceeds from disposition of Nanjing Daqo</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">2,656,490<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashDivestedFromDeconsolidation', window );">Decrease in cash on deconsolidation of Daqo New Material</a></td>
        <td class="num">(15,241)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations', window );">Net cash used in investing activities</a></td>
        <td class="num">(30,696,113)<span></span></td>
        <td class="num">(102,922,470)<span></span></td>
        <td class="num">(274,138,829)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Financing activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromRelatedPartyDebt', window );">Proceeds from related parties loans</a></td>
        <td class="nump">157,271,287<span></span></td>
        <td class="nump">1,645,923<span></span></td>
        <td class="nump">75,294,720<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfRelatedPartyDebt', window );">Repayment of related parities loans</a></td>
        <td class="num">(69,386,568)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(75,294,720)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromBankDebt', window );">Proceeds from bank borrowings</a></td>
        <td class="nump">39,200,480<span></span></td>
        <td class="nump">128,047,530<span></span></td>
        <td class="nump">186,558,358<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromOtherDebt', window );">Proceeds from other borrowings</a></td>
        <td class="nump">35,351,511<span></span></td>
        <td class="nump">1,524,560<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfBankDebt', window );">Repayment of bank borrowings</a></td>
        <td class="num">(113,745,197)<span></span></td>
        <td class="num">(103,573,459)<span></span></td>
        <td class="num">(71,079,431)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfOtherDebt', window );">Repayment of other borrowings</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(2,697,397)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfCommonStock', window );">Purchase and retirement of treasury shares</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(500,724)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Options exercised</a></td>
        <td class="nump">135,171<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations', window );">Net cash provided by financing activities</a></td>
        <td class="nump">48,826,684<span></span></td>
        <td class="nump">27,143,830<span></span></td>
        <td class="nump">112,781,530<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents', window );">Effect of exchange rate changes</a></td>
        <td class="num">(452,694)<span></span></td>
        <td class="nump">67,800<span></span></td>
        <td class="nump">5,560,689<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net increase (decrease) in cash and cash equivalents</a></td>
        <td class="nump">1,152,060<span></span></td>
        <td class="num">(86,018,074)<span></span></td>
        <td class="num">(110,938,700)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at the beginning of the year</a></td>
        <td class="nump">6,679,024<span></span></td>
        <td class="nump">92,697,098<span></span></td>
        <td class="nump">203,635,798<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at the end of the year</a></td>
        <td class="nump">7,831,084<span></span></td>
        <td class="nump">6,679,024<span></span></td>
        <td class="nump">92,697,098<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Supplemental disclosure of cash flow information:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Interest paid</a></td>
        <td class="nump">3,234,715<span></span></td>
        <td class="nump">15,555,495<span></span></td>
        <td class="nump">10,991,064<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaid', window );">Income taxes paid</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">8,052,589<span></span></td>
        <td class="nump">18,861,460<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_SupplementalCashFlowInformationDivestituresAbstract', window );"><strong>Disposition and Deconsolidation:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashDivestedFromDeconsolidation', window );">Less: cash and cash equivalents disposed</a></td>
        <td class="num">(15,241)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested', window );">Net cash inflow (outflow) on the disposition</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">2,656,490<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_NoncashInvestingActivitiesAbstract', window );"><strong>Supplemental schedule of non-cash investing activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalExpendituresIncurredButNotYetPaid', window );">Purchases of property, plant and equipment included in payable</a></td>
        <td class="nump">51,766,695<span></span></td>
        <td class="nump">46,594,935<span></span></td>
        <td class="nump">41,302,426<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1', window );">Purchase of property, plant and equipment included in amount due to related parties</a></td>
        <td class="nump">940,135<span></span></td>
        <td class="nump">5,678,393<span></span></td>
        <td class="nump">822,840<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_SupplementalNonCashInvestingActivities', window );">Balance netting-off agreements with different subsidiaries of Daqo Group</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">11,729,514<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Nanjing Daqo [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax', window );">Gain on disposition of Nanjing Daqo</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,099,299)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Investing activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested', window );">Proceeds from disposition of Nanjing Daqo</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">2,656,490<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashDivestedFromDeconsolidation', window );">Decrease in cash on deconsolidation of Daqo New Material</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(2,122,167)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_SupplementalCashFlowInformationDivestituresAbstract', window );"><strong>Disposition and Deconsolidation:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived', window );">Total consideration</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">9,888,742<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1', window );">Less: amount due from Daqo Group</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(5,110,085)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDivestitureOfBusinesses', window );">Total cash consideration received</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">4,778,657<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashDivestedFromDeconsolidation', window );">Less: cash and cash equivalents disposed</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(2,122,167)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested', window );">Net cash inflow (outflow) on the disposition</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">$ 2,656,490<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_IncreaseDecreaseInAccruedWarrantyExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Increase Decrease In Accrued Warranty Expense</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_IncreaseDecreaseInAccruedWarrantyExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_IncreaseDecreaseInAdvancePayments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Increase (Decrease) in Advance Payments</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_IncreaseDecreaseInAdvancePayments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net change during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods, after one year or beyond the operating cycle, if longer..</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_IncreaseDecreaseInPrepaidExpensesNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_NoncashInvestingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_NoncashInvestingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_SupplementalCashFlowInformationDivestituresAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_SupplementalCashFlowInformationDivestituresAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Supplemental Cash Flow Information, Divestitures, Consideration Received.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_SupplementalCashFlowInformationDivestituresConsiderationReceived</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_SupplementalNonCashInvestingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Supplemental Non Cash Investing Activities</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_SupplementalNonCashInvestingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=8077374&amp;loc=d3e2420-110228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetImpairmentCharges</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalExpendituresIncurredButNotYetPaid">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Future cash outflow to pay for purchases of fixed assets that have occurred.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CapitalExpendituresIncurredButNotYetPaid</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash Equivalents<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3044-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 230<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450594&amp;loc=d3e33268-110906<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashDivestedFromDeconsolidation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Reduction in cash due to no longer including the former subsidiary's cash in the consolidated entity's cash.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashDivestedFromDeconsolidation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Depreciation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Depreciation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of gain (loss), after tax expense or benefit and not previously recognized, resulting from the sale of a business component.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 230<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450594&amp;loc=d3e33268-110906<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesPaid">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -Subparagraph (f)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3536-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeTaxesPaid</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccountsPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccountsReceivable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the aggregate amount of accrued expenses and other operating obligations not separately disclosed in the statement of cash flows.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInCustomerAdvances">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the amount of prepayments by customers for goods or services to be provided at a later date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInCustomerAdvances</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDeferredIncomeTaxes">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInDeferredIncomeTaxes</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate increase (decrease) during the reporting period in the amount due from the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the aggregate amount of obligations to be paid to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInventories">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInInventories</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInNotesPayableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in current portion (due within one year or one business cycle) of obligations evidenced by formal promissory notes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInNotesPayableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInNotesReceivableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period of amounts due within one year (or one business cycle) from note holders for outstanding loans.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInNotesReceivableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherDeferredLiability">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in other obligations not otherwise defined in the taxonomy where the payments will be made in future periods.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOtherDeferredLiability</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherNoncurrentAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in other noncurrent operating assets not separately disclosed in the statement of cash flows.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOtherNoncurrentAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInRestrictedCash">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3179-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInRestrictedCash</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaid">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of cash paid for interest during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3536-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestPaid</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryWriteDown">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Charge to cost of goods sold that represents the reduction of the carrying amount of inventory, generally attributable to obsolescence or market conditions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4542-108314<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryWriteDown</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3536-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of fixed assets that an Entity acquires in a noncash (or part noncash) acquisition. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of noncash consideration received for selling an asset or business through a noncash (or part noncash) transaction.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRepurchaseOfCommonStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow to reacquire common stock during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3291-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsForRepurchaseOfCommonStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToFundLongtermLoansToRelatedParties">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow associated with extending a long-term loan to a related party. Alternate caption: Payments for Advances to Affiliates.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToFundLongtermLoansToRelatedParties</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromBankDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from bank borrowing during the year.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromBankDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromDivestitureOfBusinesses">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow associated with the amount received from the sale of a portion of the company's business, for example a segment, division, branch or other business, during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3179-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromDivestitureOfBusinesses</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the cash inflow during the period from the sale of a component of the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3179-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromOtherDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from other borrowing not otherwise defined in the taxonomy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromOtherDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromRelatedPartyDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from a long-term borrowing made from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Proceeds from Advances from Affiliates.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromRelatedPartyDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (j)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromStockOptionsExercised</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31814832&amp;loc=SL4591552-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31814832&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProfitLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProvisionForDoubtfulAccounts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.5)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 5<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProvisionForDoubtfulAccounts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfBankDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow to settle a bank borrowing during the year.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RepaymentsOfBankDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfOtherDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow for the payment of other borrowing not otherwise defined in the taxonomy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RepaymentsOfOtherDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfRelatedPartyDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow for the payment of a long-term borrowing made from a related party where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Payments for Advances from Affiliates.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RepaymentsOfRelatedPartyDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SupplementalCashFlowInformationAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SupplementalCashFlowInformationAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EWIAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Accounts receivable, allowance for doubtful accounts</a></td>
        <td class="nump">$ 7,160,782<span></span></td>
        <td class="nump">$ 1,592,467<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Ordinary shares, par value</a></td>
        <td class="nump">$ 0.0001<span></span></td>
        <td class="nump">$ 0.0001<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Ordinary shares, shares authorized</a></td>
        <td class="nump">500,000,000<span></span></td>
        <td class="nump">500,000,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Ordinary shares, shares issued</a></td>
        <td class="nump">175,714,103<span></span></td>
        <td class="nump">175,714,103<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Ordinary shares, shares outstanding</a></td>
        <td class="nump">173,427,853<span></span></td>
        <td class="nump">172,877,433<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockShares', window );">Treasury Stock, shares</a></td>
        <td class="nump">2,286,250<span></span></td>
        <td class="nump">2,836,670<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 4<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28368275&amp;loc=d3e5074-111524<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value per share of common stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockParOrStatedValuePerShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesAuthorized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockShares">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28,29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TreasuryStockShares</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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<DOCUMENT>
<TYPE>XML
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<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>ADVANCES FROM CUSTOMERS<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueDisclosureAbstract', window );"><strong>ADVANCES FROM CUSTOMERS [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueDisclosureTextBlock', window );">ADVANCES FROM CUSTOMERS</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>10. ADVANCES FROM CUSTOMERS</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Advances from customers represent prepayments from customers and are recognized as revenue in accordance with the Group&#39;s revenue recognition policy.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Advances from customers consist of the following and is analyzed as long and short portion respectively:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.32in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Customer D*</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">15,532,572</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">15,987,573</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Customer J</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">6,852,496</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">4,220,355</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Customer G</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">3,462,084</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">2,996,550</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Customer F</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,532,632</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Others</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2,016,454</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,937,418</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 29,396,238</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 25,141,896</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Less: Current portion of Advance from customers</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 29,396,238</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> <p style="MARGIN: 0pt 0px">13,217,775</p> </td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Long term advance from customers</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> <p style="MARGIN: 0pt 0px">11,924,121</p> </td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">* Pursuant to the terms of the Company&#39;s revised supply agreement with this customer the Company will deliver monthly amounts of polysilicon, totaling no less than RMB2.4 million from April 2014 to September 2016, or until such time as the advance has been fully utilized.</p> <!--EndFragment--></div> </div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueDisclosureAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredRevenueDisclosureAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 8<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 13<br><br> -Section A<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 605<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 13.A.3(b).Q1(c),(b).Q2,(c).Q3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredRevenueDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
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<FILENAME>R1.htm
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<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EMOAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Document and Entity Information<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
        <td class="text">20-F<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
        <td class="text">false<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
        <td class="text">Dec. 31,
				 2013<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
        <td class="text">2013<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
        <td class="text">FY<span></span></td>
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      <tr class="re">
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        <td class="text">DQ<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
        <td class="text">DAQO NEW ENERGY CORP.<span></span></td>
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      <tr class="re">
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        <td class="text">0001477641<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
        <td class="text">--12-31<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
        <td class="text">No<span></span></td>
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      <tr class="ro">
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        <td class="text">Yes<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
        <td class="text">Non-accelerated Filer<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
        <td class="nump">173,427,853<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_AmendmentFlag</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:booleanItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>End date of current fiscal year in the format --MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_CurrentFiscalYearEndDate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:gMonthDayItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentFiscalPeriodFocus</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:fiscalPeriodItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentFiscalYearFocus</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:gYearItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentInformationLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentPeriodEndDate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:dateItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentType</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:submissionTypeItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCentralIndexKey</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:centralIndexKeyItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCommonStockSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCurrentReportingStatus</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:yesNoItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityFilerCategory</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:filerCategoryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityRegistrantName</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:normalizedStringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityWellKnownSeasonedIssuer</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:yesNoItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Trading symbol of an instrument as listed on an exchange.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>FAIR VALUE MEASUREMENTS [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresTextBlock', window );">FAIR VALUE MEASUREMENTS</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>11. FAIR VALUE MEASUREMENTS</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The following table presents the financial instruments for which fair value does not approximate carrying value as of December&nbsp;31, 2012 and 2013:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap">As&nbsp;of&nbsp;December&nbsp;31,&nbsp;2012</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap">As&nbsp;of&nbsp;December&nbsp;31,&nbsp;2013</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Carrying&nbsp;Value</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Fair&nbsp;Value</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Carrying<br /> Value</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Fair&nbsp;Value</td> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 48%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Long-term bank borrowing</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">187,520,880</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">166,148,388</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">134,870,287</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">124,047,823</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Payables for purchase of property, plant and equipment</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">1,126,255</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">1,014,716</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Nonrecurring Fair Value Measurements</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The following table displays assets and liabilities that were measured at fair value on a non-recurring basis after initial recognition;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.2in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18">Year&nbsp;ended&nbsp;December&nbsp;31,&nbsp;2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold"> Description</td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> <p style="MARGIN: 0pt 0px">Carrying<br /> amount</p> </td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Quoted&nbsp;Prices&nbsp;in<br /> Active&nbsp;Markets<br /> for&nbsp;Identical<br /> Assets&nbsp;(Level&nbsp;1)</td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Significant<br /> Other<br /> Observable<br /> Inputs&nbsp;(Level&nbsp;2)</td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Significant<br /> Unobservable<br /> Inputs&nbsp;(Level&nbsp;3)</td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Total&nbsp;Losses</td> <td style="FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-FAMILY: Times New Roman, Times, Serif; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9.5pt; TEXT-ALIGN: left; TEXT-INDENT: -9.5pt; WIDTH: 35%"> Long-lived assets held and used</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"> 53,287,118</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> <font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> &nbsp;</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> <font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"> -</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> <font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"> 10,532,637</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> <font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt"><font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-FAMILY: Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"> 42,754,481</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> <font style="FONT-FAMILY: Times New Roman, Times, Serif">&nbsp;</font> </td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 21.3pt"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.2in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: center">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18">Year&nbsp;ended&nbsp;December&nbsp;31,&nbsp;2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> Description</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> <p style="MARGIN: 0pt 0px">Carrying<br /> amount</p> </td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> Quoted&nbsp;Prices&nbsp;in<br /> Active&nbsp;Markets<br /> for&nbsp;Identical<br /> Assets&nbsp;(Level&nbsp;1)</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> Significant<br /> Other<br /> Observable<br /> Inputs&nbsp;(Level&nbsp;2)</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> Significant<br /> Unobservable<br /> Inputs&nbsp;(Level&nbsp;3)</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> Total&nbsp;Losses</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 35%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 0in"> Long-lived assets held and used</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 307,942,362</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> &nbsp;</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 149,517,535</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 158,424,827</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 21.3pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 21.3pt"> During the year ended December 31, 2012, long-lived assets held and used with a carrying amount of $53.3 million were written down to their fair value of $10.5 million, resulting in an impairment charge of $42.8 million. The fair values of the productive assets were estimated using a discounted cash flow model under the income approach. The discounted cash flow method involves forecasting the future cash flows and then discounting them back to a present value at an appropriate discount rate. The discount rate is estimated based on a weighted average cost of capital method, which measures a Company&#39;s cost of debt and equity financing weighted by the percentage of debt and equity in a Company&#39;s target capital structure as determined through reference to the identified guideline companies. The cost of equity was derived from the CAPM and the cost of debt was benchmarked to the People&#39;s Bank of China&#39;s long term borrowing rate in China.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 21.3pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 21.3pt"> During the year ended December 31, 2013, long-lived assets held and used with a carrying amount of $308 million were written down to their fair value of $150 million, resulting in an impairment charge of $158 million, about $143 million of this amount related to Daqo New Material. Based on the nature of the property being assessed, buildings and land use rights, the fair value was estimated using direct comparison method under the market approach. The direct comparison method is a set of procedures in which a value indication is derived by comparing the real estate being appraised to similar real estate that have been sold recently. Then applying appropriate units of comparison and making adjustments to the sale prices of the comparable based on the elements of comparison such as differences in location, size, decoration and year of completion, etc. to derive at the fair value of the real estate.</p> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13537-108611<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13433-108611<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14064-108612<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=25499696&amp;loc=d3e19207-110258<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 30<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14172-108612<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13504-108611<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueDisclosuresTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>90
<FILENAME>R80.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0ETQDK">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>FINANCIAL STATEMENT SCHEDULE I (STATEMENT OF CHANGES IN EQUITY) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">$ 340,877,413<span></span></td>
        <td class="nump">$ 452,026,227<span></span></td>
        <td class="nump">$ 396,422,834<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
        <td class="num">(70,943,484)<span></span></td>
        <td class="num">(111,928,941)<span></span></td>
        <td class="nump">33,323,952<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
        <td class="nump">1,881,401<span></span></td>
        <td class="nump">2,249,834<span></span></td>
        <td class="nump">2,206,025<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of options</a></td>
        <td class="nump">135,171<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValueAcquiredParValueMethod', window );">Repurchase</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(500,724)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
        <td class="nump">9,980,051<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,099,299)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">137,326,561<span></span></td>
        <td class="nump">340,877,413<span></span></td>
        <td class="nump">452,026,227<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Ordinary shares [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">17,288<span></span></td>
        <td class="nump">17,571<span></span></td>
        <td class="nump">17,571<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance, shares</a></td>
        <td class="nump">172,877,433<span></span></td>
        <td class="nump">175,714,103<span></span></td>
        <td class="nump">175,714,103<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of options</a></td>
        <td class="nump">55<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Exercise of options, shares</a></td>
        <td class="nump">550,420<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValueAcquiredParValueMethod', window );">Repurchase</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(283)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockSharesAcquired', window );">Repurchase, shares</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(2,836,670)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">17,343<span></span></td>
        <td class="nump">17,288<span></span></td>
        <td class="nump">17,571<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance, shares</a></td>
        <td class="nump">173,427,853<span></span></td>
        <td class="nump">172,877,433<span></span></td>
        <td class="nump">175,714,103<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Treasury Stock [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="num">(494,928)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of options</a></td>
        <td class="nump">96,256<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValueAcquiredParValueMethod', window );">Repurchase</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(494,928)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="num">(398,672)<span></span></td>
        <td class="num">(494,928)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Additional paid in capital [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">144,755,902<span></span></td>
        <td class="nump">142,511,581<span></span></td>
        <td class="nump">140,305,556<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
        <td class="nump">1,881,401<span></span></td>
        <td class="nump">2,249,834<span></span></td>
        <td class="nump">2,206,025<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of options</a></td>
        <td class="nump">38,860<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValueAcquiredParValueMethod', window );">Repurchase</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(5,513)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">146,676,163<span></span></td>
        <td class="nump">144,755,902<span></span></td>
        <td class="nump">142,511,581<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Retained earnings (accumulated losses) [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">38,276,015<span></span></td>
        <td class="nump">150,204,956<span></span></td>
        <td class="nump">116,881,004<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of options</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValueAcquiredParValueMethod', window );">Repurchase</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="num">(32,667,469)<span></span></td>
        <td class="nump">38,276,015<span></span></td>
        <td class="nump">150,204,956<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Accumulated other comprehensive income [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">19,551,006<span></span></td>
        <td class="nump">18,444,123<span></span></td>
        <td class="nump">6,276,868<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of options</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValueAcquiredParValueMethod', window );">Repurchase</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,099,299)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">23,699,196<span></span></td>
        <td class="nump">19,551,006<span></span></td>
        <td class="nump">18,444,123<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Parent Company [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">202,105,283<span></span></td>
        <td class="nump">311,178,231<span></span></td>
        <td class="nump">263,480,999<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
        <td class="num">(70,943,484)<span></span></td>
        <td class="num">(111,928,941)<span></span></td>
        <td class="nump">33,323,952<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent', window );">Other comprehensive income</a></td>
        <td class="nump">4,148,190<span></span></td>
        <td class="nump">2,206,182<span></span></td>
        <td class="nump">12,167,255<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
        <td class="nump">1,881,401<span></span></td>
        <td class="nump">2,249,834<span></span></td>
        <td class="nump">2,206,025<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of options</a></td>
        <td class="nump">135,171<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValueAcquiredParValueMethod', window );">Repurchase</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(500,724)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,099,299)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">137,326,561<span></span></td>
        <td class="nump">202,105,283<span></span></td>
        <td class="nump">311,178,231<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Parent Company [Member] | Ordinary shares [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">17,288<span></span></td>
        <td class="nump">17,571<span></span></td>
        <td class="nump">17,571<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance, shares</a></td>
        <td class="nump">172,877,433<span></span></td>
        <td class="nump">175,714,103<span></span></td>
        <td class="nump">175,714,103<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent', window );">Other comprehensive income</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of options</a></td>
        <td class="nump">55<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Exercise of options, shares</a></td>
        <td class="nump">550,420<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValueAcquiredParValueMethod', window );">Repurchase</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(283)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockSharesAcquired', window );">Repurchase, shares</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(2,836,670)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">17,343<span></span></td>
        <td class="nump">17,288<span></span></td>
        <td class="nump">17,571<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance, shares</a></td>
        <td class="nump">173,427,853<span></span></td>
        <td class="nump">172,877,433<span></span></td>
        <td class="nump">175,714,103<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Parent Company [Member] | Treasury Stock [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="num">(494,928)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent', window );">Other comprehensive income</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of options</a></td>
        <td class="nump">96,256<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValueAcquiredParValueMethod', window );">Repurchase</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(494,928)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="num">(398,672)<span></span></td>
        <td class="num">(494,928)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Parent Company [Member] | Additional paid in capital [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">144,755,902<span></span></td>
        <td class="nump">142,511,581<span></span></td>
        <td class="nump">140,305,556<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent', window );">Other comprehensive income</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
        <td class="nump">1,881,401<span></span></td>
        <td class="nump">2,249,834<span></span></td>
        <td class="nump">2,206,025<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of options</a></td>
        <td class="nump">38,860<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValueAcquiredParValueMethod', window );">Repurchase</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(5,513)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">146,676,163<span></span></td>
        <td class="nump">144,755,902<span></span></td>
        <td class="nump">142,511,581<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Parent Company [Member] | Retained earnings (accumulated losses) [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">38,276,015<span></span></td>
        <td class="nump">150,204,956<span></span></td>
        <td class="nump">116,881,004<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
        <td class="num">(70,943,484)<span></span></td>
        <td class="num">(111,928,941)<span></span></td>
        <td class="nump">33,323,952<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent', window );">Other comprehensive income</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of options</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValueAcquiredParValueMethod', window );">Repurchase</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="num">(32,667,469)<span></span></td>
        <td class="nump">38,276,015<span></span></td>
        <td class="nump">150,204,956<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Parent Company [Member] | Accumulated other comprehensive income [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">19,551,006<span></span></td>
        <td class="nump">18,444,123<span></span></td>
        <td class="nump">6,276,868<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent', window );">Other comprehensive income</a></td>
        <td class="nump">4,148,190<span></span></td>
        <td class="nump">2,206,182<span></span></td>
        <td class="nump">12,167,255<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of options</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValueAcquiredParValueMethod', window );">Repurchase</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,099,299)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
        <td class="nump">$ 23,699,196<span></span></td>
        <td class="nump">$ 19,551,006<span></span></td>
        <td class="nump">$ 18,444,123<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 35<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415241&amp;loc=d3e4534-113899<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 20<br><br> -Section 55<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11149-113907<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 20<br><br> -Section 55<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11178-113907<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CondensedFinancialStatementsCaptionsLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CondensedFinancialStatementsCaptionsLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of foreign currency translation gains or losses included in the disposal group, whether or not a component of the entity (discontinued operation), that were previously reported in accumulated other comprehensive Income or Loss.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 20<br><br> -Subparagraph (d)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e565-108580<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of the reduction or elimination during the period of a noncontrolling interest resulting from the parent's loss of control and deconsolidation of the entity in which one or more outside parties had a noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax of other comprehensive income (loss) attributable to parent entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569643-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (c)(3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharesIssued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SharesIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568447-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568740-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4I<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31814832&amp;loc=SL4590271-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of share options (or share units) exercised during the current period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28,29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iv)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of stock issued as a result of the exercise of stock options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockSharesAcquired">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares that have been repurchased during the period and are being held in treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TreasuryStockSharesAcquired</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockValueAcquiredParValueMethod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the par value method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TreasuryStockValueAcquiredParValueMethod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>91
<FILENAME>R4.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0ETMBG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueGoodsNet', window );">Sales to third parties</a></td>
        <td class="nump">$ 74,903,630<span></span></td>
        <td class="nump">$ 81,929,050<span></span></td>
        <td class="nump">$ 224,781,989<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromRelatedParties', window );">Sales to related parties</a></td>
        <td class="nump">32,278,700<span></span></td>
        <td class="nump">2,799,427<span></span></td>
        <td class="nump">7,387,590<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueServicesNet', window );">Service fee</a></td>
        <td class="nump">1,817,475<span></span></td>
        <td class="nump">2,129,924<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total revenues</a></td>
        <td class="nump">108,999,805<span></span></td>
        <td class="nump">86,858,401<span></span></td>
        <td class="nump">232,169,579<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfRevenueAbstract', window );"><strong>Cost of revenues</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfGoodsSold', window );">Sales to third parties</a></td>
        <td class="num">(123,974,774)<span></span></td>
        <td class="num">(121,222,871)<span></span></td>
        <td class="num">(138,037,240)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyCosts', window );">Sales to related parties</a></td>
        <td class="num">(11,128,634)<span></span></td>
        <td class="num">(3,067,513)<span></span></td>
        <td class="num">(6,908,785)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfRevenue', window );">Total cost of revenues</a></td>
        <td class="num">(135,103,408)<span></span></td>
        <td class="num">(124,290,384)<span></span></td>
        <td class="num">(144,946,025)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit (loss)</a></td>
        <td class="num">(26,103,603)<span></span></td>
        <td class="num">(37,431,983)<span></span></td>
        <td class="nump">87,223,554<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Operating (expenses) income:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingGeneralAndAdministrativeExpense', window );">Selling, general and administrative expenses</a></td>
        <td class="num">(18,132,515)<span></span></td>
        <td class="num">(12,930,198)<span></span></td>
        <td class="num">(13,088,538)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpense', window );">Research and development expenses</a></td>
        <td class="num">(3,391,012)<span></span></td>
        <td class="num">(4,130,533)<span></span></td>
        <td class="num">(744,322)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherOperatingIncome', window );">Other operating income</a></td>
        <td class="nump">5,420,777<span></span></td>
        <td class="nump">8,729,301<span></span></td>
        <td class="nump">12,029,030<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse', window );">Long-lived asset impairment</a></td>
        <td class="num">(158,424,827)<span></span></td>
        <td class="num">(42,754,481)<span></span></td>
        <td class="num">(34,667,577)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total operating expenses</a></td>
        <td class="num">(174,527,577)<span></span></td>
        <td class="num">(51,085,911)<span></span></td>
        <td class="num">(36,471,407)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Income (loss) from operations</a></td>
        <td class="num">(200,631,180)<span></span></td>
        <td class="num">(88,517,894)<span></span></td>
        <td class="nump">50,752,147<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
        <td class="num">(19,349,190)<span></span></td>
        <td class="num">(15,408,023)<span></span></td>
        <td class="num">(9,258,296)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
        <td class="nump">149,752<span></span></td>
        <td class="nump">990,117<span></span></td>
        <td class="nump">1,846,956<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax', window );">Exchange gain (loss)</a></td>
        <td class="nump">11,875<span></span></td>
        <td class="num">(55,800)<span></span></td>
        <td class="nump">148,676<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest', window );">Income (loss) before income taxes</a></td>
        <td class="num">(219,818,743)<span></span></td>
        <td class="num">(102,991,600)<span></span></td>
        <td class="nump">43,489,483<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense</a></td>
        <td class="num">(1,271,765)<span></span></td>
        <td class="num">(10,253,587)<span></span></td>
        <td class="num">(2,717,561)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest', window );">Net income (loss) from continuing operations</a></td>
        <td class="num">(221,090,508)<span></span></td>
        <td class="num">(113,245,187)<span></span></td>
        <td class="nump">40,771,922<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax', window );">Total loss from discontinued operations</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(2,392,228)<span></span></td>
        <td class="num">(5,857,810)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net Income (loss)</a></td>
        <td class="num">(221,090,508)<span></span></td>
        <td class="num">(115,637,415)<span></span></td>
        <td class="nump">34,914,112<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest', window );">Net income (loss) attributable to non-controlling interest</a></td>
        <td class="num">(150,147,024)<span></span></td>
        <td class="num">(3,708,474)<span></span></td>
        <td class="nump">1,590,160<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders</a></td>
        <td class="num">$ (70,943,484)<span></span></td>
        <td class="num">$ (111,928,941)<span></span></td>
        <td class="nump">$ 33,323,952<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>NET EARNINGS (LOSS) PER ORDINARY SHARE</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsPerBasicShare', window );">Continuing operations</a></td>
        <td class="num">$ (0.41)<span></span></td>
        <td class="num">$ (0.63)<span></span></td>
        <td class="nump">$ 0.22<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare', window );">Discontinued operations</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">$ (0.01)<span></span></td>
        <td class="num">$ (0.03)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic-ordinary shares</a></td>
        <td class="num">$ (0.41)<span></span></td>
        <td class="num">$ (0.64)<span></span></td>
        <td class="nump">$ 0.19<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare', window );">Continuing operations</a></td>
        <td class="num">$ (0.41)<span></span></td>
        <td class="num">$ (0.63)<span></span></td>
        <td class="nump">$ 0.22<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare', window );">Discontinued operations</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">$ (0.01)<span></span></td>
        <td class="num">$ (0.03)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted-ordinary shares</a></td>
        <td class="num">$ (0.41)<span></span></td>
        <td class="num">$ (0.64)<span></span></td>
        <td class="nump">$ 0.19<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract', window );"><strong>ORDINARY SHARES USED IN CALCULATING EARNINGS PER ORDINARY SHARE</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic-ordinary shares</a></td>
        <td class="nump">173,068,420<span></span></td>
        <td class="nump">175,067,343<span></span></td>
        <td class="nump">175,714,103<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Diluted-diluted shares</a></td>
        <td class="nump">173,068,420<span></span></td>
        <td class="nump">175,067,343<span></span></td>
        <td class="nump">175,714,103<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfGoodsSold">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total costs related to goods produced and sold during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 2<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CostOfGoodsSold</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfRevenue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate cost of goods produced and sold and services rendered during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 2<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CostOfRevenue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfRevenueAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CostOfRevenueAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 52<br><br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.23)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareBasic</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30690-110894<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30700-110894<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GrossProfit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1,2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GrossProfit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=8077374&amp;loc=d3e2420-110228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391110&amp;loc=d3e2921-110230<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 958<br><br> -SubTopic 225<br><br> -Section 45<br><br> -Paragraph 11<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28367520&amp;loc=d3e92212-112881<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Impairment<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6515133<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ImpairmentOfLongLivedAssetsHeldForUse</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 10<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsPerBasicShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.23)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsPerBasicShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.12)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 13<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.14)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 15<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1278-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.23)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1278-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 5<br><br> -Section E<br><br> -Paragraph Question 3<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Income Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (a),(b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeTaxExpenseBenefit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of the cost of borrowed funds accounted for as interest expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.9)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 9<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 7<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.7(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InvestmentIncomeInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e565-108580<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of Net Income (Loss) attributable to noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31814832&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpenses">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingExpenses</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpensesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingExpensesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net result for the period of deducting operating expenses from operating revenues.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherOperatingIncome">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The total amount of other operating income, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherOperatingIncome</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31814832&amp;loc=SL4591552-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31814832&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProfitLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyCosts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Direct costs arising from transactions with related parties who are not affiliates or joint Ventures. These costs are categorized as cost of goods sold.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph k<br><br> -Subparagraph 1<br><br> -Article 4<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RelatedPartyCosts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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        <tr>
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        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 985<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6501960&amp;loc=d3e128462-111756<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 730<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ResearchAndDevelopmentExpense</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Period Type:</strong></td>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromRelatedParties">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1(e))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Related Parties<br><br> -URI http://asc.fasb.org/extlink&amp;oid=16382449<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 946<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.6-07.1(c))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6488393&amp;loc=d3e606610-122999<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 07<br><br> -Paragraph b<br><br> -Subparagraph 1<br><br> -Article 6<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RevenueFromRelatedParties</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Revenues</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RevenuesAbstract</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueGoodsNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SalesRevenueGoodsNet</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueServicesNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and discounts.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1(d))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SalesRevenueServicesNet</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SellingGeneralAndAdministrativeExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 4<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -Section 30<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386349&amp;loc=d3e3636-108311<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SellingGeneralAndAdministrativeExpense</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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            </div>
          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
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              </div>
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          </td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Balance Type:</strong></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Weighted-Average Number of Common Shares Outstanding<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>PREPAID EXPENSE AND OTHER CURRENT ASSETS<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract', window );"><strong>PREPAID EXPENSE AND OTHER CURRENT ASSETS [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCurrentAssetsTextBlock', window );">PREPAID EXPENSE AND OTHER CURRENT ASSETS</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>5. PREPAID EXPENSE AND OTHER CURRENT ASSETS</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Prepaid expense and other current assets consist of the following:</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Spare parts</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">3,975,860</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">6,264,805</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Prepaid Value added tax ("VAT")</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">18,705,984</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">13,546,880</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Prepaid insurance fee</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">471,721</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,016,625</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Others</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 780,402</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 3,042,380</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 23,933,967</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 23,870,690</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for other current assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>ALLOWANCES FOR DOUBTFUL RECEIVABLES<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansAndLeasesReceivableDisclosureAbstract', window );"><strong>ALLOWANCES FOR DOUBTFUL RECEIVABLES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock', window );">ALLOWANCES FOR DOUBTFUL RECEIVABLES</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>4. ALLOWANCES FOR DOUBTFUL RECEIVABLES</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>&nbsp;</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Company made provisions for doubtful accounts receivables in the aggregate amount of $1,202,940, $359,733 and $5,482,019 during the year ended December 31, 2011, 2012 and 2013, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>&nbsp;</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Analysis of allowances for accounts receivable is as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2011</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 55%; TEXT-ALIGN: left">Beginning of the year</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">1,202,940</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">1,592,467</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">Allowances made during the year</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,202,940</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">359,733</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">5,482,019</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Foreign exchange effect</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 29,794</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 86,296</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Closing balance</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 1,202,940</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 1,592,467</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 7,160,782</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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                <p>The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.3,4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 3, 4<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28368275&amp;loc=d3e5074-111524<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28368275&amp;loc=d3e5066-111524<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 7<br><br> -Article 9<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph k<br><br> -Article 4<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28368275&amp;loc=d3e5162-111524<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>EARNINGS PER SHARE<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>EARNINGS PER SHARE [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareTextBlock', window );">EARNINGS PER SHARE</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>16. EARNINGS PER SHARE</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The calculation of earnings per share is as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2011</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Numerator used in basic and diluted earnings per share:</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="WIDTH: 61%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders-basic and diluted</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 33,323,952</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (111,928,891</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (70,943,484</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Denominator used in basic and diluted earnings per share:</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt">Share options</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Weighted average number of ordinary shares outstanding used in computing earnings per share-basic and diluted</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 175,714,103</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 175,067,343</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 173,068,420</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">NET INCOME (LOSS) ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE-Basic and Diluted</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 0.19</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (0.64</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (0.41</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Outstanding employee options totaling of 6,805,000, 7,179,500 and 6,371,250 were excluded from the computation of diluted earnings per share as their effects would have been anti-dilutive for the year ended December&nbsp;31, 2011, 2012 and 2013, respectively.</p> <!--EndFragment--></div> </div><span></span></td>
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                <p>The entire disclosure for earnings per share.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1278-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 52<br><br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>MAINLAND CHINA CONTRIBUTION PLAN AND PROFIT APPROPRIATION<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CompensationAndRetirementDisclosureAbstract', window );"><strong>MAINLAND CHINA CONTRIBUTION PLAN AND PROFIT APPROPRIATION [Abstract]</strong></a></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_OtherItemsDisclosureTextBlock', window );">MAINLAND CHINA CONTRIBUTION PLAN AND PROFIT APPROPRIATION</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>12. MAINLAND CHINA CONTRIBUTION PLAN AND PROFIT APPROPRIATION</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(a) China Contribution Plan</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Full time employees of the Group in the PRC participate in a government-mandated, multi-employer, defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees. PRC labor regulations require the Group to accrue for these benefits based on a certain percentage of the employees&#39; salaries. Contributions to defined contribution plans are expensed as incurred. During the years ended December&nbsp;31, 2011, 2012 and 2013, the Group recognized $2,189,273, $3,325,383 and $3,142,213 respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(b) Statutory Reserves</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Foreign invested enterprises in PRC are required under PRC laws to provide for certain statutory reserves, such as a general reserve, an enterprise expansion fund and a staff welfare and bonus fund. These entities are required to allocate at least 10% of their after tax profits as reported in their PRC statutory financial statements to the general reserve and have the right to discontinue allocations to the general reserve if the balance of such reserve have reached 50% of their registered capital. These statutory reserves are not available for distribution to the owners (except in liquidation) and may not be transferred in the form of loans, advances or cash dividends. As of December&nbsp;31, 2012 and 2013, $16,803,191 and $16,803,191 was respectively appropriated from the retained earnings of Chongqing Daqo. As a result of these PRC laws and regulations, the Company&#39;s PRC subsidiaries are restricted in their abilities to transfer the registered capital and statutory reserves to the Company in the form of dividends, loans or advances and the restricted portion amounted to $124,814,365 and $124,814,365 as of December&nbsp;31, 2012 and 2013, respectively.</p> <!--EndFragment--></div> </div><span></span></td>
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                <p>Other Items Disclosure</p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>BORROWINGS<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>BORROWINGS [Abstract]</strong></a></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureTextBlock', window );">BORROWINGS</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>8. BORROWINGS</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group&#39;s bank borrowings consisted of the following:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Short-term bank borrowings</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">49,748,800</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">39,643,440</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Long-term bank borrowings, current portion</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">69,006,400</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">50,049,843</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Other short-term borrowing</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,524,560</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 29,177,574</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total borrowings, current</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">120,279,760</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">118,870,857</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Long-term bank borrowings, non-current portion</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 187,520,880</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 134,870,287</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 307,800,640</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 253,741,144</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Short-term borrowings</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group&#39;s short-term bank borrowing consisted of the following:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: left">Short-term borrowing guaranteed by Daqo Group</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">1,604,800</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">28,080,770</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 0.125in; TEXT-INDENT: -0.125in"> Short-term borrowing guaranteed by Daqo Group and Mr.&nbsp;Guangfu Xu and Mr.&nbsp;Xiang Xu</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">48,144,000</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Short-term borrowing guaranteed by Daqo Group and a third party</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 11,562,670</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 49,748,800</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 39,643,440</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Company has $nil and $18.2 million short-term bank facilities with various banks were available as of December 31, 2012 and 2013, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The interest rate on the short-term bank borrowing was 7.0% and 6.4% as of December&nbsp;31, 2012 and 2013. The other short term borrowing was discounted bank notes with recourse to the Company.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Long-term borrowings</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The major bank borrows are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> On January&nbsp;21, 2009, Chongqing Daqo entered into a six-year long term facility agreement with China Construction Bank. Such borrowing is restricted to the purchase of fixed assets and has a maximum borrowing amount $66.1 million (RMB400 million), bearing standard five-year long term interest rate issued by People&#39;s Bank of China. The borrowing is guaranteed by Daqo Group. As of December&nbsp;31, 2013, Chongqing Daqo had drawn down $66.1 million (RMB400 million), repaid $60.0 million (RMB357 million) and had no facility available for future draw down. There are no financial covenants associated with the facility.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> On September&nbsp;28, 2011, Chongqing Daqo entered into a four-year credit facility agreement with Huaxia Bank with maximum amount of $66.1 million (RMB400 million). Chongqing Daqo drew down $62.8 million (RMB380 million), including: $21.5 million (RMB130 million) with fixed interest rate of 6.65%, which is designated for working capital and $41.3 million (RMB250 million) with fixed interest rate of 6.9% which is restricted to the purchase of fixed assets. Chongqing Daqo used the remaining facility of $3.3 million (RMB20 million) through use of bank acceptance notes. As of December 31, 2013, Chongqing Daqo had repaid 27.1 million (RMB164 million) and had no facility available for future draw down. This credit facility is guaranteed by Daqo Group and also collateralized by Chongqing Daqo&#39;s land use right and plant, with a book value of $8.5 million (RMB52 million). The facility contains a covenant which requires the Company to maintain a certain debt to asset ratio, which Chongqing Daqo was in compliance with as of December&nbsp;31, 2013.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> On September&nbsp;30, 2011, Xinjiang Daqo entered into a six-year bank borrowing agreement with Bank of China. Such borrowing is restricted to the purchase of fixed assets and has a maximum borrowing amount of $161.9 million (RMB980 million) and bears interest at standard five-year long term interest rate issued by People&#39;s Bank of China plus 5%. The borrowing contains a debt to asset ratio financial covenant, which Xinjiang Daqo was in compliance with as of December&nbsp;31, 2013. The borrowing is guaranteed by Daqo Group, Daqo New Material, two affiliated companies under Daqo Group and Mr.&nbsp;Guangfu Xu. As of December&nbsp;31, 2013, Xinjiang Daqo had drawn down $123.9 million (RMB750 million) and had $38.0 million (RMB230 million) facility available for future draw down. The loan was in compliance with the covenants as of December&nbsp;31, 2013.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> On October&nbsp;26, 2011, Chongqing Daqo entered into a four-year credit facility agreement with Chongqing Rural Commercial Bank. Such borrowing is restricted to the purchase of fixed assets and has a maximum borrowing amount $40.6 million (RMB 245.5 million) and bears interest at three to five-year long term interest rate issued by People&#39;s Bank of China plus 10%. The borrowing is guaranteed by Daqo Group, and two directors of the Company. As of December&nbsp;31, 2013, Chongqing Daqo had drawn down $40.6 million (RMB 245.5 million) and repaid $22.3 million (RMB 135 million). There are no financial covenants associated with the facility.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The weighted average interest rate as of December&nbsp;31, 2012 and 2013 for the Group&#39;s long-term bank borrowings was 7.2% and 7.2%, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The principal maturities of these long-term bank borrowings as of December&nbsp;31, 2013 are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT: 10pt Times New Roman, Times, Serif"> <strong>December&nbsp;31,</strong></td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Amount</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 85%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> 2014</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">50,049,843</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> 2015</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">77,056,937</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> 2016</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 57,813,350</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 184,920,130</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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                <p>The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 20, 22<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19,20,22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E6KAC">
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          <div style="width: 200px;"><strong>ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) (USD $)<br></strong></div>
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          <div>Dec. 31, 2013</div>
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          <div>Dec. 31, 2012</div>
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      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract', window );"><strong>ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeRelatedLiabilitiesCurrent', window );">Accrued payroll and welfare</a></td>
        <td class="nump">$ 2,588,312<span></span></td>
        <td class="nump">$ 2,526,701<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedProfessionalFeesCurrent', window );">Accrued professional fees</a></td>
        <td class="nump">624,825<span></span></td>
        <td class="nump">700,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent', window );">Other tax payable</a></td>
        <td class="nump">1,378,963<span></span></td>
        <td class="nump">1,830,815<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPayableCurrent', window );">Interest payable</a></td>
        <td class="nump">305,087<span></span></td>
        <td class="nump">612,968<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_SubsidiesPayableCurrent', window );">Government subsidy</a></td>
        <td class="nump">908,496<span></span></td>
        <td class="nump">882,640<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccountsPayableAndAccruedLiabilities', window );">Others</a></td>
        <td class="nump">1,655,938<span></span></td>
        <td class="nump">1,064,331<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_AccruedExpensesAndOtherCurrentLiabilities', window );">Total</a></td>
        <td class="nump">$ 7,461,621<span></span></td>
        <td class="nump">$ 7,617,455<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_AccruedExpensesAndOtherCurrentLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accrued expenses and other current liabilities</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_AccruedExpensesAndOtherCurrentLiabilities</nobr></td>
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                    <td>credit</td>
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                    <td>instant</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Subsidies Payable Current</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_SubsidiesPayableCurrent</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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              </div>
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          </td>
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      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of obligations incurred and payable for real and property taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Current Liabilities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.20)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 720<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6419918&amp;loc=d3e35281-107843<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedProfessionalFeesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of obligations incurred through that date and payable for professional fees, such as for legal and accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Current Liabilities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.20)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccruedProfessionalFeesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeRelatedLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.20)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EmployeeRelatedLiabilitiesCurrent</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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              </div>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPayableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Current Liabilities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.20)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e7018-107765<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestPayableCurrent</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccountsPayableAndAccruedLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of obligations, including trade payables, incurred through that date and due within one year (or in the operating cycle if longer) arising from transactions not otherwise specified in the taxonomy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherAccountsPayableAndAccruedLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>INVENTORIES<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureAbstract', window );"><strong>INVENTORIES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureTextBlock', window );">INVENTORIES</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>6. INVENTORIES</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Inventories consist of the following:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Raw materials</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">976,374</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">2,084,050</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Work-in-process</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">5,759,153</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">4,666,821</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Finished goods</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 8,399,995</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 3,749,385</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 15,135,522</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 10,500,256</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Inventory write-down was $14,252,701, $14,821,620 and $221,025 for the years ended December&nbsp;31, 2011, 2012 and 2013, respectively.</p> <!--EndFragment--></div> </div><span></span></td>
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                <p>The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a, b, c<br><br> -Article 5<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>PROPERTY, PLANT AND EQUIPMENT, NET<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock', window );">PROPERTY, PLANT AND EQUIPMENT, NET</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>7. PROPERTY, PLANT AND EQUIPMENT, NET</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Property, plant and equipment, net, consist of the following:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt">Cost</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Buildings and plant</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">437,805,571</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">235,690,310</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Machinery and equipment</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">344,782,948</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">355,429,034</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Furniture, fixtures and equipment</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">9,233,575</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">21,329,752</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Motor vehicles</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">519,923</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">262,562</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Less: Accumulated depreciation</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (133,746,851</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (145,031,744</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Property, plant and equipment, net</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">658,595,166</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">467,679,944</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Construction in process</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 19,300,108</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 20,824,239</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 677,895,274</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 488,504,183</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Depreciation expense was $35,479,645, $37,371,791 and $52,250,595 for the years ended December&nbsp;31, 2011, 2012 and 2013, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Due to the challenging solar market conditions resulting in lower ASP for polysilicon and wafers, combined with structural cost issues at Chongqing Daqo, the Company recognized impairments for long-lived assets of <font style="FONT: 10pt Times New Roman, Times, Serif">$38,512,376, $42,754,481 and $158,424,827 during the years ended December 31, 2011, 2012 and 2013, respectively.</font></p> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391110&amp;loc=d3e2921-110230<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.13-14)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract', window );"><strong>ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock', window );">ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>9. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Accrued expenses and other current liabilities consist of the following:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: left">Accrued payroll and welfare</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">2,526,701</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">2,588,312</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">Accrued professional fees</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">700,000</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">624,825</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Other tax payable</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,830,815</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,378,963</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">Interest payable</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">612,968</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">305,087</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Government subsidy</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">882,640</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">908,496</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt">Others</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,064,331</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,655,938</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 7,617,455</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 7,461,621</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(a),20,24)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20, 24<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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<TYPE>XML
<SEQUENCE>101
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EFKAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>INCOME TAXES (Narrative) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsLineItems', window );"><strong>Operating Loss Carryforwards [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsExpirationDate', window );">Expiration of net operating losses carried forward</a></td>
        <td class="text">Dec. 31,
				 2018<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Xinjiang Daqo New Energy Co., Ltd. [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsLineItems', window );"><strong>Operating Loss Carryforwards [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Net operating losses carried forward</a></td>
        <td class="nump">$ 12,894,429<span></span></td>
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      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Chongqing Daqo New Energy Co., Ltd. [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsLineItems', window );"><strong>Operating Loss Carryforwards [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Net operating losses carried forward</a></td>
        <td class="nump">$ 106,243,882<span></span></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Expiration date of each operating loss carryforward included in operating loss carryforward, in CCYY-MM-DD format.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E6GAE">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>INCOME TAXES (Schedule of Deferred Income Tax Assets and Liabilities) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
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      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsGrossAbstract', window );"><strong>Deferred tax assets:</strong></a></td>
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        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards', window );">Net operating loss carried forward</a></td>
        <td class="nump">$ 29,784,578<span></span></td>
        <td class="nump">$ 13,984,909<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsPropertyPlantAndEquipment', window );">Depreciation of property, plant and equipment</a></td>
        <td class="nump">493,800<span></span></td>
        <td class="nump">554,227<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsInventory', window );">Inventory write-down</a></td>
        <td class="nump">1,531,750<span></span></td>
        <td class="nump">3,687,349<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts', window );">Bad debt provision</a></td>
        <td class="nump">1,518,953<span></span></td>
        <td class="nump">349,466<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxCreditCarryforwards', window );">Government grants related to assets</a></td>
        <td class="nump">423,938<span></span></td>
        <td class="nump">320,960<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsImpairmentLosses', window );">Long-lived asset impairment</a></td>
        <td class="nump">22,590,196<span></span></td>
        <td class="nump">19,810,832<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOther', window );">Others</a></td>
        <td class="nump">290,652<span></span></td>
        <td class="nump">390,491<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsGross', window );">Sub-total</a></td>
        <td class="nump">56,633,867<span></span></td>
        <td class="nump">39,098,234<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsValuationAllowance', window );">Valuation Allowance</a></td>
        <td class="num">(56,633,867)<span></span></td>
        <td class="num">(37,682,733)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNet', window );">Total</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">1,415,501<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetClassificationAbstract', window );"><strong>Deferred tax assets are analyzed as:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetCurrent', window );">Current</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">358,435<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetNoncurrent', window );">Non-current</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">$ 1,057,066<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsGross">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Deferred Tax Asset<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6510090<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsGross</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsGrossAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsGrossAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsInventory">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from inventory.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 25<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=29652012&amp;loc=d3e28680-109314<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsInventory</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (b),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetClassificationAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsNetClassificationAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31917-109318<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31931-109318<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31928-109318<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31958-109318<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsNetCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31917-109318<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31931-109318<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31928-109318<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=21917399&amp;loc=d3e31958-109318<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsNetNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 25<br><br> -Paragraph 20<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=29652012&amp;loc=d3e28680-109314<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsOperatingLossCarryforwards</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOther">
        <tr>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences not separately disclosed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 25<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=29652012&amp;loc=d3e28680-109314<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from property, plant, and equipment.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsPropertyPlantAndEquipment</nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The tax effect as of the balance sheet date of the amount of future tax deductions arising from all unused tax credit carryforwards which have been reduced by a valuation allowance.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Carryforwards<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506874<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsTaxCreditCarryforwards</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from the allowance for doubtful accounts.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 25<br><br> -Paragraph 20<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=29652012&amp;loc=d3e28680-109314<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts</nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from estimated impairment losses.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 25<br><br> -Paragraph 20<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=29652012&amp;loc=d3e28680-109314<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsImpairmentLosses</nobr></td>
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                  <tr>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EZGAC">
      <tr>
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          <div style="width: 200px;"><strong>MAINLAND CHINA CONTRIBUTION PLAN AND PROFIT APPROPRIATION (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
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        <th class="th">
          <div>Dec. 31, 2011</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CompensationAndRetirementDisclosureAbstract', window );"><strong>MAINLAND CHINA CONTRIBUTION PLAN AND PROFIT APPROPRIATION [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">$ 3,142,213<span></span></td>
        <td class="nump">$ 3,325,383<span></span></td>
        <td class="nump">$ 2,189,273<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAppropriated', window );">Appropriated from retained earnings</a></td>
        <td class="nump">16,803,191<span></span></td>
        <td class="nump">16,803,191<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityRestrictions', window );">Restrictions of statutory reserves</a></td>
        <td class="nump">$ 124,814,365<span></span></td>
        <td class="nump">$ 124,814,365<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
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                  <tr>
                    <td><strong> Name:</strong></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of the cost recognized during the period for defined contribution plans.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 715<br><br> -SubTopic 70<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6414718&amp;loc=d3e28014-114942<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                  <tr>
                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of the amount of equity that is restricted to use by regulation or agreement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>A segregation of retained earnings which is unavailable for dividend distribution. Includes also retained earnings appropriated for loss contingencies.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 31<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.30(a)(3)(i))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6403732&amp;loc=d3e21332-112643<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.23(4))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 24<br><br> -Subparagraph a(4)<br><br> -Article 7<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6403732&amp;loc=d3e21346-112643<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RetainedEarningsAppropriated</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td>instant</td>
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<DOCUMENT>
<TYPE>XML
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<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>INVENTORIES (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureAbstract', window );"><strong>INVENTORIES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfInventoryCurrentTableTextBlock', window );">Schedule of Inventories</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Inventories consist of the following:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Raw materials</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">976,374</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">2,084,050</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Work-in-process</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">5,759,153</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">4,666,821</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Finished goods</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 8,399,995</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 3,749,385</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 15,135,522</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 10,500,256</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryDisclosureAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfInventoryCurrentTableTextBlock">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 2<br><br> -Paragraph 6<br><br> -Subparagraph a,b,c<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ScheduleOfInventoryCurrentTableTextBlock</nobr></td>
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                  <tr>
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                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
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<TYPE>XML
<SEQUENCE>105
<FILENAME>R51.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E2GCI">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>EXIT and DISPOSAL ACTIVITIES (Details)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
        <th class="th" colspan="1"></th>
        <th class="th" colspan="1"></th>
        <th class="th" colspan="1">12 Months Ended</th>
        <th class="th" colspan="1"></th>
        <th class="th" colspan="1">6 Months Ended</th>
        <th class="th" colspan="3">12 Months Ended</th>
        <th class="th" colspan="1"></th>
        <th class="th" colspan="1"></th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Carrying Value [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Carrying Value [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014

</div>
          <div>Scenario, Forecast [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Significant Production Assets [Member]

</div>
          <div>Carrying Value [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Sep. 28, 2012

</div>
          <div>Nanjing Daqo [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Nanjing Daqo [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Nanjing Daqo [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Nanjing Daqo [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Sep. 28, 2012

</div>
          <div>Nanjing Daqo [Member]

</div>
          <div>CNY</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012

</div>
          <div>Nanjing Daqo [Member]

</div>
          <div>USD ($)</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems', window );"><strong>Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">100.00%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_DisposalGroupIncludingDiscontinuedOperationConsideration', window );">Total consideration received</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 9,900,000<span></span></td>
        <td class="nump">$ 4,800,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"> 62,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax', window );">Total loss from discontinued operations</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(2,392,228)<span></span></td>
        <td class="num">(5,857,810)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(2,392,228)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax', window );">Gain on disposition</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">1,099,299<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,099,299<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsNet', window );">Net assets</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">12,000,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Reclassification of foreign currency translation gain from other comprehensive income</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,099,299<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,099,299<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDivestitureOfBusinesses', window );">Total cash consideration received</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">4,778,657<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract', window );"><strong>Operating results reported as discontinued operations:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue', window );">Revenues</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">6,454,830<span></span></td>
        <td class="nump">29,082,384<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense', window );">Operating costs and expenses</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(9,946,357)<span></span></td>
        <td class="num">(36,943,483)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax', window );">Loss from discontinued operations before income taxes</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(2,100,000)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(3,491,527)<span></span></td>
        <td class="num">(7,861,099)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod', window );">Income tax benefit</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">2,003,289<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax', window );">Loss from discontinued operations</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num">(3,491,527)<span></span></td>
        <td class="num">(5,857,810)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringCostAndReserveLineItems', window );"><strong>Restructuring Cost and Reserve [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentFairValueDisclosure', window );">Carrying value of assets</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">307,942,362<span></span></td>
        <td class="nump">53,287,118<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">144,700,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse', window );">Impairment charge</a></td>
        <td class="nump">158,424,827<span></span></td>
        <td class="nump">42,754,481<span></span></td>
        <td class="nump">34,667,577<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SeveranceCosts1', window );">Employee termination costs</a></td>
        <td class="nump">800,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessExitCosts1', window );">Relocation costs</a></td>
        <td class="nump">500,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAdditions', window );">Capital expenditures</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">100,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringAndRelatedCostExpectedCost', window );">Expected relocation costs</a></td>
        <td class="nump">$ 7,100,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_DisposalGroupIncludingDiscontinuedOperationConsideration">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of consideration received or receivable for the disposal of assets and liabilities, including discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_DisposalGroupIncludingDiscontinuedOperationConsideration</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net of assets and liabilities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 946<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 3<br><br> -Subparagraph (SX 210.6-09.6,7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6488393&amp;loc=d3e606914-122999<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 946<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.6-05.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6488278&amp;loc=d3e604008-122996<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 05<br><br> -Paragraph 4<br><br> -Article 6<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 09<br><br> -Paragraph 19<br><br> -Article 6<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessExitCosts1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Includes, but is not limited to, one-time termination benefits, termination of an operating lease or other contract, consolidating or closing facilities, and relocating employees, and termination benefits associated with an ongoing benefit arrangement. Excludes expenses associated with special or contractual termination benefits, a discontinued operation or an asset retirement obligation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 420<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 420<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SAB TOPIC 5.P.4(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140904-122747<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 420<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 5.P.3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140864-122747<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 5<br><br> -Section P<br><br> -Subsection 3, 4<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_BusinessExitCosts1</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of gain (loss), after tax expense or benefit and not previously recognized, resulting from the sale of a business component.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax</nobr></td>
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                  <tr>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Pretax income (loss) from operations of a business component (exclusive of any gain (loss) on disposal, or provision therefore) during the reporting period, until its disposal.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax</nobr></td>
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          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>After tax income (loss) from operations of a business component (exclusive of any gain (loss) on disposal, or provision therefore) during the reporting period, until its disposal.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Income tax expense or benefit attributable to Income or Loss from discontinued operations during the phase-out period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32672-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 2<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18498875&amp;loc=d3e38679-109324<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of foreign currency translation gains or losses included in the disposal group, whether or not a component of the entity (discontinued operation), that were previously reported in accumulated other comprehensive Income or Loss.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 20<br><br> -Subparagraph (d)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of operating expenses attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
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              </div>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of sales or other form of revenues attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DisposalGroupNotDiscontinuedOperationIncomeStatementDisclosuresAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=8077374&amp;loc=d3e2420-110228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391110&amp;loc=d3e2921-110230<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 958<br><br> -SubTopic 225<br><br> -Section 45<br><br> -Paragraph 11<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28367520&amp;loc=d3e92212-112881<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Impairment<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6515133<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ImpairmentOfLongLivedAssetsHeldForUse</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.12)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 13<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.14)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 15<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
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          </td>
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                <p>The parent entity's interest in net assets of the subsidiary, expressed as a percentage.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>The cash inflow associated with the amount received from the sale of a portion of the company's business, for example a segment, division, branch or other business, during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3179-108585<br><br><br><br></p>
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                <p>Amount of acquisition of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p>
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                <p>No definition available.</p>
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                <p>Fair value portion of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=25499696&amp;loc=d3e19190-110258<br><br><br><br></p>
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                <p>Amount expected to be recognized in earnings for the specified restructuring cost.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 420<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 5<br><br> -Section P<br><br> -Subsection 3, 4<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 420<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SAB Topic 5.P.4(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140904-122747<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of expenses for special or contractual termination benefits provided to current employees involuntarily terminated under a benefit arrangement associated exit or disposal activities pursuant to an authorized plan. Excludes expenses related to one-time termination benefits, a discontinued operation or an asset retirement obligation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 420<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 420<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SAB TOPIC 5.P.4(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140904-122747<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 420<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 5.P.3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140864-122747<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 5<br><br> -Section P<br><br> -Subsection 3, 4<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 715<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)(10)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28361610&amp;loc=d3e1928-114920<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
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          <div style="width: 200px;"><strong>SHARE BASED COMPENSATION<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>SHARE BASED COMPENSATION [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">SHARE BASED COMPENSATION</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>14. SHARE BASED COMPENSATION</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> On August&nbsp;5, 2009, the Company adopted the 2009 Share Incentive Plan (the "Option Plan") to attract and retain the best available personnel, provide additional incentives to employees, directors and consultants, and promote the success of the Company&#39;s business. As of December&nbsp;31, 2009, share options to purchase of no more than 15,000,000 ordinary shares were authorized and 5,350,000 share options were granted under the Option Plan.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> During the years ended December&nbsp;31, 2011, 2012 and 2013, the Company granted nil, 1,190,000 and 140,000 share options respectively to its officers, directors and employees, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> On January 9, 2012, the Company modified the exercise price for a total number of 6,520,000 options granted before to $0.42, in order to provide appropriate incentives to the relevant employees and executive officers of the Company. The fair value of the options under revised terms for three batches granted on October 31, 2009, October 6, 2010 and December 3, 2010 was $0.22, $0.23 and $0.23, respectively. The total incremental cost associated with the modification was $638,700, of which $284,123 was recognized immediately for the options vested prior to the date of the modification and the remaining share based compensation charges of $354,577 will be recognized over a weighted-average period of 2.12 years.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> On January 9, 2012, the Company granted options to acquire 300,000 ordinary shares to independent directors pursuant to the Option Plan. Thirty percent (30%) of the options will vest one year following the grant date, thirty percent (30%) of the options will vest on the second year of the vesting commencement date, and the remaining forty percent (40%) of the options will vest on the third anniversary of the vesting commencement date. At the same time, the Company granted options to acquire 890,000 ordinary shares to certain officers and employees pursuant to the Option Plan. Twenty-five percent (25%) of the options will vest one year following the grant date, and the remaining seventy-five percent (75%) of the options will vest in thirty-six equal installments over the next three years. These options were granted in anticipation of services to be provided during the respective service periods. The exercise price is $0.42.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> On April 3, 2013, the Company modified the exercise price for a total number of 6,796,975 options granted before to $0.25, in order to provide appropriate incentives to the relevant employees and executive officers of the Company. The fair value of the options under revised terms for four batches granted on October 31, 2009, October 6, 2010, December 3, 2010, January 9, 2012 was $0.11, $0.12, $0.11 and $0.13, respectively. The total incremental cost associated with the modification was $191,000, of which $153,085 was recognized immediately for the options vested prior to the date of the modification and the remaining share-based compensation charges of $37,915 will be recognized over a weighted-average period of 1.21 years.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> On April 3, 2013, the Company granted options to acquire 140,000 ordinary shares to an independent director pursuant to the Option Plan. Thirty percent (30%) of the options will vest one year following the service inception date, thirty percent (30%) of the options will vest on the second year of service inception date, and the remaining forty percent (40%) of the options will vest on the third anniversary of the service inception date. The exercise price is $0.25.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Company utilized the Binomial option pricing model to evaluate the fair value of the stock options with reference to the closing price of the Company on the measurement dates.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The following assumptions were used in the Binomial option pricing model:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18">Year Ended December&nbsp;31, 2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> Options<br /> granted</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Average<br /> risk-free<br /> rate of<br /> return</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Exercise<br /> multiple</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Volatility<br /> rate</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Dividend<br /> yield</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Post-<br /> vesting<br /> forfeiture<br /> rate</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 35%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> January 9, 2012</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: center">2.05%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center; WIDTH: 10%" nowrap="nowrap">2.2 ~ 3.0 times</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: center">58.7%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: center">0%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: center">3-9.5%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18">Year Ended December&nbsp;31, 2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> Options<br /> granted</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Average<br /> risk-free<br /> rate of<br /> return</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Exercise<br /> multiple</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Volatility<br /> rate</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Dividend<br /> yield</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Post-<br /> vesting<br /> forfeiture<br /> rate</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 35%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> April 3, 2013</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">2.29%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"> 2.8 times</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: center">51.78%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: center">0%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: center">3%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The risk-free rate of return is based on the yield curve of China USD sovereign bond commensurate with the same maturity at the respective grant dates. The exercise multiple is estimated by reference to the proprietary research and empirical studies. The expected volatility is based on the average of historical daily annualized share price volatility of 6 comparable companies over a normalized period that commensurate with the option life of 10 years. The post-vesting forfeiture rate is based on the historical data and management&#39;s best</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> estimation.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> A summary of the aggregate option activity and information regarding options outstanding as of December&nbsp;31, 2012 is as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Number&nbsp;of<br /> Options</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Weighted<br /> Average<br /> Exercise<br /> Price</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Weighted<br /> Average<br /> Remaining<br /> Contract&nbsp;Life</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Aggregate<br /> Intrinsic<br /> Value</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 40%; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"> Options outstanding on January&nbsp;1, 2013 (after modification of exercise price)</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">7,179,500</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">0.25</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-LEFT: 9pt">Granted</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">140,000</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">0.25</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-LEFT: 9pt">Forfeited</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(304,912</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">0.25</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-LEFT: 9pt">Expired</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(92,918</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">0.25</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt">Exercised</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (550,420</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 0.25</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"> Options outstanding on December&nbsp;31, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 6,371,250</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 0.25</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 6.42</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"> Options vested or expected to vest on December&nbsp;31, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 5,915,969</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 0.25</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 6.37</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"> Options exercisable on December&nbsp;31, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 5,364,292</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 0.25</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 6.43</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The share-based compensation charge related to the share options of approximately$2,206,025, $2,249,834 and $1,881,401 was recognized by the Company for the years ended December&nbsp;31, 2011, 2012 and 2013, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The weighted average grant date fair value of options granted during the year ended December&nbsp;31, 2011, 2012 and 2013 was $ nil, $0.23 and $0.11, respectively.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> As of December&nbsp;31, 2013, there was $ $524,535 in total unrecognized compensation cost related to non-vested stock options, which is expected to be recognized over a weighted-average period of 1.40 years.</p> <!--EndFragment--></div> </div><span></span></td>
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                    <td>us-gaap_</td>
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                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td>duration</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 50<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6406099&amp;loc=d3e25284-112666<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 40<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6418621&amp;loc=d3e17540-113929<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5444-113901<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 14<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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<TEXT>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>SEGMENT INFORMATION<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingAbstract', window );"><strong>SEGMENT INFORMATION [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingDisclosureTextBlock', window );">SEGMENT INFORMATION</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>19. SEGMENT INFORMATION</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group&#39;s chief operating decision maker has been identified as the chief executive officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. Following the further expansion of module business and entering into the wafer business in 2011, the Group operated and viewed its performance in three segments. However, on September 28, 2012, the module business was disposed (see Note 3). Therefore, only two segments remained in 2012 and 2013 and the segment information in prior years was restated to be consistent with the current year reportable segments. The following tables summarized the Company&#39;s revenue and cost generated from different revenue streams. Substantially all of its revenues are derived in the PRC. The Group&#39;s long-lived assets and operations are substantially all located in the PRC.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The following table summarizes the Group&#39;s revenue by segment:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">Year ended December&nbsp;31, 2011</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Polysilicon</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Wafer</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Elimination</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 48%; TEXT-ALIGN: left">Revenue - External</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">218,915,487</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">13,254,092</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">232,169,579</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Revenue - Intersegment</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,696,573</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (1,696,573</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Total revenue</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 220,612,060</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 13,254,092</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (1,696,573</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 232,169,579</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Total Cost</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 125,962,033</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 20,680,565</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (1,696,573</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 144,946,025</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Gross profit (loss)</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 94,650,027</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (7,426,473</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> -</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 87,223,554</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">Year ended December&nbsp;31, 2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Polysilicon</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Wafer</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Elimination</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 48%; TEXT-ALIGN: left">Revenue - External</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">73,450,807</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">13,407,594</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">86,858,401</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Revenue - Intersegment</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 6,067,339</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (6,067,339</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Total revenue</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">79,518,146</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">13,407,594</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(6,067,339</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">86,858,401</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Total Cost</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 110,243,043</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 20,114,680</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (6,067,339</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 124,290,384</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Gross profit (loss)</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (30,724,897</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (6,707,086</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> -</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (37,431,983</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">Year ended December&nbsp;31, 2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Polysilicon</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Wafer</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Elimination</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 48%; TEXT-ALIGN: left">Revenue - External</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">76,721,105</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">32,278,700</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">108,999,805</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Revenue - Intersegment</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 13,195,838</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (13,195,838</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Total revenue</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">89,916,943</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">32,278,700</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(13,195,838</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">108,999,805</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Total Cost</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 98,684,325</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 49,614,921</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (13,195,838</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 135,103,408</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Gross profit (loss)</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (8,767,382</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (17,336,221</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (26,103,603</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The following customers accounted for 10% or more of revenues:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 1in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2011</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 52%; TEXT-ALIGN: left">Customer A</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 13%; TEXT-ALIGN: right">28,219,079</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 13%; TEXT-ALIGN: right">21,749,284</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 13%"> *</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">Customer B</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">27,214,590</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Customer D</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">33,140,475</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">Customer G</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">28,570,338</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Customer I</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">19,644,488</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">Customer L</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right"> *</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">13,471,873</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <!-- Field: Rule-Page --> <div style="BORDER-TOP: black 1pt solid; FONT-SIZE: 1pt; text-align: left; WIDTH: 20%"> &nbsp;</div> <!-- Field: /Rule-Page --> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-RIGHT: 0.8pt; WIDTH: 2%"> *</td> <td style="WIDTH: 1%; PADDING-RIGHT: 0.8pt">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-RIGHT: 0.8pt; WIDTH: 97%"> Represents less than 10%</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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                <p>The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.</p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EHCAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Property, Plant and Equipment) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
      </tr>
      <tr>
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          <div>Dec. 31, 2013</div>
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          <div>Dec. 31, 2011</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract', window );"><strong>Property, plant and equipment</strong></a></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestCostsCapitalized', window );">Interest expense capitalized</a></td>
        <td class="nump">$ 0<span></span></td>
        <td class="nump">$ 7,245,747<span></span></td>
        <td class="nump">$ 3,429,496<span></span></td>
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          <div class="a">Buildings and plant [Member]</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract', window );"><strong>Property, plant and equipment</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
        <td class="text">20 years<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
        <td class="text">10 years<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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          <div class="a">Furniture, fixtures and equipment [Member] | Minimum [Member]</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract', window );"><strong>Property, plant and equipment</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">3 years<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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          <div class="a">Furniture, fixtures and equipment [Member] | Maximum [Member]</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
        <td class="text">5 years<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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          <div class="a">Motor vehicles [Member]</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract', window );"><strong>Property, plant and equipment</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
        <td class="text">6 years<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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                <p>Amount of interest capitalized during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Allowance for Funds Used during Construction<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6504829<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br></p>
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                <p>Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p>
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                <p>No definition available.</p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E2F">
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          <div style="width: 200px;"><strong>SHARE BASED COMPENSATION (Tables)<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>SHARE BASED COMPENSATION [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock', window );">Schedule of Assumptions Used</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The following assumptions were used in the Binomial option pricing model:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18">Year Ended December&nbsp;31, 2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> Options<br /> granted</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Average<br /> risk-free<br /> rate of<br /> return</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Exercise<br /> multiple</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Volatility<br /> rate</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Dividend<br /> yield</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Post-<br /> vesting<br /> forfeiture<br /> rate</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 35%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> January 9, 2012</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: center">2.05%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: center; WIDTH: 10%" nowrap="nowrap">2.2 ~ 3.0 times</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: center">58.7%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: center">0%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: center">3-9.5%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="18">Year Ended December&nbsp;31, 2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"> Options<br /> granted</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Average<br /> risk-free<br /> rate of<br /> return</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Exercise<br /> multiple</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Volatility<br /> rate</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Dividend<br /> yield</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Post-<br /> vesting<br /> forfeiture<br /> rate</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 35%; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> April 3, 2013</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: right">2.29%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; TEXT-ALIGN: right; WIDTH: 10%"> 2.8 times</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: center">51.78%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: center">0%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: center">3%</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Summary of Stock Option Activity</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> A summary of the aggregate option activity and information regarding options outstanding as of December&nbsp;31, 2012 is as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.55in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Number&nbsp;of<br /> Options</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Weighted<br /> Average<br /> Exercise<br /> Price</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Weighted<br /> Average<br /> Remaining<br /> Contract&nbsp;Life</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">Aggregate<br /> Intrinsic<br /> Value</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 40%; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"> Options outstanding on January&nbsp;1, 2013 (after modification of exercise price)</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">7,179,500</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">0.25</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-LEFT: 9pt">Granted</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">140,000</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">0.25</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-LEFT: 9pt">Forfeited</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(304,912</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">0.25</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-LEFT: 9pt">Expired</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(92,918</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">0.25</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt">Exercised</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (550,420</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 0.25</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"> Options outstanding on December&nbsp;31, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 6,371,250</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 0.25</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 6.42</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"> Options vested or expected to vest on December&nbsp;31, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 5,915,969</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 0.25</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 6.37</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0.1in; TEXT-INDENT: -0.1in"> Options exercisable on December&nbsp;31, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 5,364,292</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 0.25</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 6.43</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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                <p>Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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                <p>Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E3AAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income (loss)</a></td>
        <td class="num">$ (221,090,508)<span></span></td>
        <td class="num">$ (115,637,415)<span></span></td>
        <td class="nump">$ 34,914,112<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract', window );"><strong>Other comprehensive income:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax', window );">Foreign currency translation adjustments</a></td>
        <td class="nump">5,543,033<span></span></td>
        <td class="nump">3,838,790<span></span></td>
        <td class="nump">18,483,256<span></span></td>
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      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Total other comprehensive income</a></td>
        <td class="nump">5,543,033<span></span></td>
        <td class="nump">3,838,790<span></span></td>
        <td class="nump">18,483,256<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest', window );">Comprehensive income (loss)</a></td>
        <td class="num">(215,547,475)<span></span></td>
        <td class="num">(111,798,625)<span></span></td>
        <td class="nump">53,397,368<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest', window );">Comprehensive income (loss) attributable to noncontrolling interest</a></td>
        <td class="num">(148,752,181)<span></span></td>
        <td class="num">(2,075,866)<span></span></td>
        <td class="nump">7,906,161<span></span></td>
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      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income (loss) attributable to Daqo New Energy Corp. shareholders</a></td>
        <td class="num">$ (66,795,294)<span></span></td>
        <td class="num">$ (109,722,759)<span></span></td>
        <td class="nump">$ 45,491,207<span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=16317811<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e557-108580<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax of (increase) decrease in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4613674-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569643-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31814832&amp;loc=SL4591552-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest</nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31814832&amp;loc=SL4591552-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>EXIT and DISPOSAL ACTIVITIES<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract', window );"><strong>EXIT and DISPOSAL ACTIVITIES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock', window );">EXIT and DISPOSAL ACTIVITIES</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>3. EXIT and DISPOSAL ACTIVITIES</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>&nbsp;</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(a) Disposal of Nanjing Daqo</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> On September 28, 2012, in order to focus on the Company&#39;s core competency and enhance operating efficiency, the Company sold 100% equity interests on Nanjing Daqo to our related party, Daqo Group, after the Group failed to identify a third party investor from its public bidding procedure undertaken through the Nanjing Property Right Trading Center for a total consideration of RMB62 million (US$9.9 million). The sales price was determined with reference to the valuation result as of March 31, 2012 performed by an independent third party valuer which determined the fair value to approximate the net asset value of approximately $12.0 million, less the operating loss of Nanjing Daqo incurred during the period from April 1, 2012 to September 28, 2012 of approximately $2.1 million. The loss from discontinued operation of $2,392,228 represents the aggregation of the loss incurred by Nanjing Daqo during the period from January 1, 2012 to September 28, 2012 of $3,491,527 and the gain on disposition of $1,099,299, which was the reclassification of foreign currency translation gain from other comprehensive income of $1,099,299. There were no remaining assets or liabilities associated with discontinued operations in the consolidated balance sheet as of December 31, 2012. As of December 31, 2013, $4.8 million of the consideration had been received.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> The discontinued operations were retrospectively reflected for all the prior years presented in the consolidated statements of operations. The operating results reported as discontinued operations for the years ended December 31, 2011, 2012 and 2013, are summarized as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 23pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year ended December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2011</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 55%">Revenues</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">29,082,384</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">6,454,830</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Operating costs and expenses</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (36,943,483</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (9,946,357</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Loss from discontinued operations before income taxes</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(7,861,099</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(3,491,527</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Income tax benefit</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2,003,289</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> Loss from discontinued operations</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (5,857,810</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> (3,491,527</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> )</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> -</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>(b) Relocation of Polysilicon Operations to Xinjiang</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> As of December 31, 2013, the Company has a plan to expand the capacity at the Xinjiang plant and is in the process of relocating significant production assets, with a carrying value of $ 144.7 million, from Chongqing Daqo to its Xinjiang plant. In connection with this relocation plan, the Company determined i) to cease a retooling project at its polysilicon production line located at Chongqing Daqo in the second quarter of 2013, and ii) it was more practical to relocate its machinery and equipment located at Chongqing Daqo, to Xinjiang as part of the expansion plan. Therefore, the Company recorded an impairment charge in connection with this decision of $158.4 million in the second quarter of 2013 and subsequently terminated its lease arrangement with Daqo New Material on December 30, 2013. The Company expects to complete the relocation by the end of 2014. The Company has incurred approximately $0.8 million in employee termination costs associated with the closure of the polysilicon operations at Chongqing Daqo and $0.5 million in connection with relocation costs to date, all of which were recorded in selling, general and administrative expenses, which were recorded in selling, general and administrative expenses. No other material costs, including contract termination costs, have been incurred and no material liabilities as of December 31, 2013 are recorded in connection with this relocation plan, which the Company expects to complete by the end of 2014. The Company expects to incur capital expenditure for the project of around $100 million, which includes approximately $7.1 million of expected relocation costs.</p> <!--EndFragment--></div> </div><span></span></td>
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                <p>The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391110&amp;loc=d3e2941-110230<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e1012-107759<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1510-107760<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e1020-107759<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=8077374&amp;loc=d3e2443-110228<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1474-107760<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1436-107760<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock</nobr></td>
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                    <td>us-gaap_</td>
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                    <td>duration</td>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EAVAI">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>BORROWINGS (Long-Term Borrowings) (Details)<br></strong></div>
        </th>
        <th class="th" colspan="1"></th>
        <th class="th" colspan="1"></th>
        <th class="th" colspan="4">12 Months Ended</th>
        <th class="th" colspan="2"></th>
        <th class="th" colspan="8">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>China Construction Bank [Member]

</div>
          <div>Facility Two [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>China Construction Bank [Member]

</div>
          <div>Facility Two [Member]

</div>
          <div>CNY</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Huaxia Bank [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Huaxia Bank [Member]

</div>
          <div>CNY</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Huaxia Bank [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Huaxia Bank [Member]

</div>
          <div>CNY</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Huaxia Bank [Member]

</div>
          <div>Facility One [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Huaxia Bank [Member]

</div>
          <div>Facility One [Member]

</div>
          <div>CNY</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Huaxia Bank [Member]

</div>
          <div>Facility Two [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Huaxia Bank [Member]

</div>
          <div>Facility Two [Member]

</div>
          <div>CNY</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Bank of China [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Bank of China [Member]

</div>
          <div>CNY</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Chongqing Rural Commercial Bank [Member]

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Chongqing Rural Commercial Bank [Member]

</div>
          <div>CNY</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInitiationDate1', window );">Initiation date of credit facility</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">Jan. 21,
				 2009<span></span></td>
        <td class="text">Jan. 21,
				 2009<span></span></td>
        <td class="text">Sep. 28,
				 2011<span></span></td>
        <td class="text">Sep. 28,
				 2011<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">Sep. 30,
				 2011<span></span></td>
        <td class="text">Sep. 30,
				 2011<span></span></td>
        <td class="text">Oct. 26,
				 2011<span></span></td>
        <td class="text">Oct. 26,
				 2011<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentTerm', window );">Term of facility</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">6 years<span></span></td>
        <td class="text">6 years<span></span></td>
        <td class="text">4 years<span></span></td>
        <td class="text">4 years<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">6 years<span></span></td>
        <td class="text">6 years<span></span></td>
        <td class="text">4 years<span></span></td>
        <td class="text">4 years<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing amount of credit facility</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 66,100,000<span></span></td>
        <td class="nump"> 400,000,000<span></span></td>
        <td class="nump">$ 66,100,000<span></span></td>
        <td class="nump"> 400,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 161,900,000<span></span></td>
        <td class="nump"> 980,000,000<span></span></td>
        <td class="nump">$ 406,600,000<span></span></td>
        <td class="nump"> 245,500,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate spread over rate issued by People's Bank of China</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5.00%<span></span></td>
        <td class="nump">5.00%<span></span></td>
        <td class="nump">10.00%<span></span></td>
        <td class="nump">10.00%<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod', window );">Amount drawn down</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">66,100,000<span></span></td>
        <td class="nump">400,000,000<span></span></td>
        <td class="nump">62,800,000<span></span></td>
        <td class="nump">380,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">21,500,000<span></span></td>
        <td class="nump">130,000,000<span></span></td>
        <td class="nump">41,300,000<span></span></td>
        <td class="nump">250,000,000<span></span></td>
        <td class="nump">123,900,000<span></span></td>
        <td class="nump">750,000,000<span></span></td>
        <td class="nump">40,600,000<span></span></td>
        <td class="nump">245,500,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfLinesOfCredit', window );">Amount repaid</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">60,000,000<span></span></td>
        <td class="nump">357,000,000<span></span></td>
        <td class="nump">27,100,000<span></span></td>
        <td class="nump">164,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">22,300,000<span></span></td>
        <td class="nump">135,000,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Fixed interest rate</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">6.65%<span></span></td>
        <td class="nump">6.65%<span></span></td>
        <td class="nump">6.90%<span></span></td>
        <td class="nump">6.90%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Amount of collateral</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">8,500,000<span></span></td>
        <td class="nump">52,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity', window );">Amount available for future draw down</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 3,300,000<span></span></td>
        <td class="nump"> 20,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 38,000,000<span></span></td>
        <td class="nump"> 230,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtWeightedAverageInterestRate', window );">Weighted average interest rate</a></td>
        <td class="nump">7.20%<span></span></td>
        <td class="nump">7.20%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
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    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1">
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        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percentage points added to the reference rate to compute the variable rate on the debt instrument.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtInstrumentBasisSpreadOnVariableRate1</nobr></td>
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                  <tr>
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                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
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                    <td>duration</td>
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          </td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of assets pledged to secure a debt instrument.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 470<br><br> -Section 50<br><br> -Paragraph 3<br><br> -Subparagraph (d)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6479336&amp;loc=d3e64711-112823<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtInstrumentCollateralAmount</nobr></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Contractual interest rate for funds borrowed, under the debt agreement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 22<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.22(a)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtInstrumentInterestRateStatedPercentage</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
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                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtInstrumentLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentTerm">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtInstrumentTerm</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityInitiationDate1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Date the credit facility first became available, in CCYY-MM-DD format.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(b),22(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 22<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LineOfCreditFacilityInitiationDate1</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:dateItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Maximum amount borrowed under the credit facility at any time during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(b),22(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 22<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(b),22(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 22<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtWeightedAverageInterestRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average interest rate of long-term debt outstanding.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongtermDebtWeightedAverageInterestRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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                </table>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfLinesOfCredit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(f))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph f<br><br> -Article 4<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3291-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RepaymentsOfLinesOfCredit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EH6AK">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>SHARE BASED COMPENSATION (Narrative) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="6">12 Months Ended</th>
        <th class="th" colspan="1"></th>
        <th class="th" colspan="3">0 Months Ended</th>
        <th class="th" colspan="1">12 Months Ended</th>
        <th class="th" colspan="15">0 Months Ended</th>
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          <div>Dec. 31, 2013</div>
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        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2013

</div>
          <div>Employee Stock Option [Member]</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Employee Stock Option [Member]</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011

</div>
          <div>Employee Stock Option [Member]</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2009

</div>
          <div>Employee Stock Option [Member]</div>
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        <th class="th">
          <div>Apr. 03, 2013

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Vesting in Year One [Member]</div>
        </th>
        <th class="th">
          <div>Apr. 03, 2013

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Vesting in Year Two [Member]</div>
        </th>
        <th class="th">
          <div>Apr. 03, 2013

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Vesting in Year Three [Member]</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Options Granted January 9, 2012 [Member]</div>
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          <div>Apr. 03, 2013

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Relevant Employees and Executive Officers [Member]</div>
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        <th class="th">
          <div>Jan. 09, 2012

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Relevant Employees and Executive Officers [Member]

</div>
          <div>items</div>
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          <div>Jan. 09, 2012

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Relevant Employees and Executive Officers [Member]

</div>
          <div>Vesting in Year One [Member]</div>
        </th>
        <th class="th">
          <div>Jan. 09, 2012

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Relevant Employees and Executive Officers [Member]

</div>
          <div>Vesting in Year Two [Member]</div>
        </th>
        <th class="th">
          <div>Apr. 03, 2013

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Relevant Employees and Executive Officers [Member]

</div>
          <div>Options Granted October 31, 2009 [Member]</div>
        </th>
        <th class="th">
          <div>Jan. 09, 2012

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Relevant Employees and Executive Officers [Member]

</div>
          <div>Options Granted October 31, 2009 [Member]</div>
        </th>
        <th class="th">
          <div>Apr. 03, 2013

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Relevant Employees and Executive Officers [Member]

</div>
          <div>Options Granted October 6, 2010 [Member]</div>
        </th>
        <th class="th">
          <div>Jan. 09, 2012

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Relevant Employees and Executive Officers [Member]

</div>
          <div>Options Granted October 6, 2010 [Member]</div>
        </th>
        <th class="th">
          <div>Apr. 03, 2013

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Relevant Employees and Executive Officers [Member]

</div>
          <div>Options Granted December 3, 2010 [Member]</div>
        </th>
        <th class="th">
          <div>Jan. 09, 2012

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Relevant Employees and Executive Officers [Member]

</div>
          <div>Options Granted December 3, 2010 [Member]</div>
        </th>
        <th class="th">
          <div>Apr. 03, 2013

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Relevant Employees and Executive Officers [Member]

</div>
          <div>Options Granted January 9, 2012 [Member]</div>
        </th>
        <th class="th">
          <div>Jan. 09, 2012

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Independent Directors [Member]</div>
        </th>
        <th class="th">
          <div>Jan. 09, 2012

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Independent Directors [Member]

</div>
          <div>Vesting in Year One [Member]</div>
        </th>
        <th class="th">
          <div>Jan. 09, 2012

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Independent Directors [Member]

</div>
          <div>Vesting in Year Two [Member]</div>
        </th>
        <th class="th">
          <div>Jan. 09, 2012

</div>
          <div>Employee Stock Option [Member]

</div>
          <div>Independent Directors [Member]

</div>
          <div>Vesting in Year Three [Member]</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Ordinary shares authorized</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">15,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Share options granted</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">6,371,250<span></span></td>
        <td class="nump">7,179,500<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5,350,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">140,000<span></span></td>
        <td class="nump">1,190,000<span></span></td>
        <td class="nump">0<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">890,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">300,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Vesting percentage</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">30.00%<span></span></td>
        <td class="nump">30.00%<span></span></td>
        <td class="nump">40.00%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">25.00%<span></span></td>
        <td class="nump">75.00%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">30.00%<span></span></td>
        <td class="nump">30.00%<span></span></td>
        <td class="nump">40.00%<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_VestingInstallmentsDuringVestingPeriod', window );">Vesting installments during vesting period</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">36<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice', window );">Exercise price</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 0.25<span></span></td>
        <td class="nump">$ 0.42<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 0.42<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Volatility rate</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">58.70%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified', window );">Number of options modified</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">6,796,975<span></span></td>
        <td class="nump">6,520,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted average fair value of stock options granted</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 0.11<span></span></td>
        <td class="nump">$ 0.23<span></span></td>
        <td class="nump">$ 0<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 0.11<span></span></td>
        <td class="nump">$ 0.22<span></span></td>
        <td class="nump">$ 0.12<span></span></td>
        <td class="nump">$ 0.23<span></span></td>
        <td class="nump">$ 0.11<span></span></td>
        <td class="nump">$ 0.23<span></span></td>
        <td class="nump">$ 0.13<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost', window );">Incremental cost associated with the modification</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 191,000<span></span></td>
        <td class="nump">$ 638,700<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Share-based compensation</a></td>
        <td class="nump">1,881,401<span></span></td>
        <td class="nump">2,249,834<span></span></td>
        <td class="nump">2,206,025<span></span></td>
        <td class="nump">1,881,401<span></span></td>
        <td class="nump">2,249,834<span></span></td>
        <td class="nump">2,206,025<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">153,085<span></span></td>
        <td class="nump">284,123<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions', window );">Unrecognized compensation cost related to non-vested stock options</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 524,535<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 37,915<span></span></td>
        <td class="nump">$ 354,577<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1', window );">Unrecognized compensation cost, recognition period</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">1 year 4 months 24 days<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">1 year 2 months 16 days<span></span></td>
        <td class="text">2 years 1 month 13 days<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Number Of Options Modified.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_VestingInstallmentsDuringVestingPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Vesting Installments During Vesting Period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dq_VestingInstallmentsDuringVestingPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dq_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:integerItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 14.F)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (h)(1)(i)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 14<br><br> -Section F<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AllocatedShareBasedCompensationExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (i)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Unrecognized cost of unvested options awarded to employees as compensation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Percentage of vesting of share-based compensation awards.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Agreed-upon price for the exchange of the underlying asset relating to the share-based payment award.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (f)(2)(ii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)(3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
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                <p>Gross number of share options (or share units) granted during the period.</p>
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                <p>No definition available.</p>
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                <p>The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (d)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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                <p>Number of options outstanding, including both vested and non-vested options.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(i)-(ii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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                <p>An excess of the fair value of the modified award over the fair value of the award immediately before the modification.</p>
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          <div style="width: 200px;"><strong>COMMITMENTS (Details) (USD $)<br></strong></div>
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          <div>Dec. 31, 2013</div>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">580,724<span></span></td>
        <td class="nump">612,856<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent', window );">2014</a></td>
        <td class="nump">1,121,476<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears', window );">2015</a></td>
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        <td class="nump">$ 3,268,074<span></span></td>
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                <p>Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of required minimum rental payments maturing in the next fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 840<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 40<br><br> -Subparagraph (Note 3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 840<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br><br><br><br></p>
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                <p>Amount of required minimum rental payments maturing in the third fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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                <p>Amount of required minimum rental payments maturing in the second fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year.</p>
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                <p>Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Minimum amount to be expended to satisfy the terms of arrangements in which the entity has agreed to expend funds to procure goods or services, excluding long-term purchase commitments or unconditional purchase obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.25)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 25<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 17<br><br> -Article 9<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.17)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.(a)(19))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br></p>
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  <head>
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    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>ADVANCES FROM CUSTOMERS (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueDisclosureAbstract', window );"><strong>ADVANCES FROM CUSTOMERS [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueByArrangementDisclosureTextBlock', window );">Schedule of Advances from Customers</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Advances from customers consist of the following and is analyzed as long and short portion respectively:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.32in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Customer D*</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">15,532,572</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">15,987,573</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Customer J</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">6,852,496</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">4,220,355</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Customer G</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">3,462,084</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">2,996,550</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Customer F</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,532,632</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Others</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2,016,454</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,937,418</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 29,396,238</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 25,141,896</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Less: Current portion of Advance from customers</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 29,396,238</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> <p style="MARGIN: 0pt 0px">13,217,775</p> </td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Long term advance from customers</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> <p style="MARGIN: 0pt 0px">11,924,121</p> </td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">* Pursuant to the terms of the Company&#39;s revised supply agreement with this customer the Company will deliver monthly amounts of polysilicon, totaling no less than RMB2.4 million from April 2014 to September 2016, or until such time as the advance has been fully utilized.</p> <!--EndFragment--></div> </div><span></span></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the type of arrangements and the corresponding amounts that comprise the current and noncurrent balance of deferred revenue as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 605<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 8<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 13<br><br> -Section A<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>INCOME TAXES<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2013</div>
        </th>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>INCOME TAXES [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureTextBlock', window );">INCOME TAXES</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>13. INCOME TAXES</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>Cayman Islands Tax</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Company is incorporated in the Cayman Islands and is not subject to tax in this jurisdiction.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>PRC Tax</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Company&#39;s subsidiaries are registered in the PRC as foreign invested enterprises. Under the Laws of the People&#39;s Republic of China on Enterprise Income Tax (the "EIT Law") which are effective January&nbsp;1, 2008, the statutory enterprise income tax rate is 25%.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Chongqing Daqo is a foreign invested enterprise located in Chongqing. In accordance with a PRC tax regulation which encourages investment in China&#39;s southwest region, Chongqing Daqo is entitled to a preferential tax rate of 15% from its establishment through 2012. On November 19, 2012, Chongqing Daqo obtained a High and New Technology Enterprise ("HTNE") certificate for a valid period of 3 years till 2014. During the years ended December 31, 2012 and 2013, Chongqing Daqo was entitled to a preferential tax rate of 15% because of its HTNE status.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Daqo New Material, which was deconsolidated on December 31, 2013, is a domestic enterprise registered in Chongqing and is subject to an income tax rate of 25% for each of the three years ended December&nbsp;31, 2013.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Nanjing Daqo is a foreign-invested enterprise established on December&nbsp;20, 2007 located in Nanjing. The company started to carry out its operation from July, 2011, and was disposed on September 28, 2012. It is subject to an income tax rate of 25% for each of the three years ended December&nbsp;31, 2012.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Xinjiang Daqo is a foreign-invested enterprise established on February, 2012 located in Shihezi Economic Development Area in Xinjiang Autonomous Region. The entity was subject to an income tax rate of 25% for the years ended December&nbsp;31, 2012 and 2013</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 23pt"> <strong><em>United States</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Daqo America was liquidated in 2013 and it was subject to United States income tax at a combined federal and state tax rate of 40% in 2011, 2012 and 2013.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Under the current EIT Law and implementation regulations issued by the PRC State Council, an income tax rate of 10% is applicable to interest and dividends payable to investors that are "non-resident enterprises", which do not have an establishment or place of business in the PRC, or which have such establishment or place of business but the relevant income is not effectively connected with the establishment or place of business, to the extent such interest or dividends have their sources within the PRC. The Company&#39;s PRC subsidiaries did not have retained earnings as of December&nbsp;31, 2013, therefore, no provision for PRC dividend withholding tax has been provided thereon.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group made its assessment of the level of authority for each tax position (including the potential application of interests and penalties) based on the tax positions&#39; technical merits, and measured the unrecognized benefits associated with the tax positions. The Group did not have any unrecognized tax benefits as of December&nbsp;31, 2012 and 2013. The Group does not anticipate that unrecognized tax benefits will significantly increase or decrease within the next twelve months.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> According to PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or withholding agent. The statute of limitations will be extended five years under special circumstances, which are not clearly defined (but an underpayment of tax liability exceeding RMB0.1 million is specifically listed as a special circumstance). In the case of a related party transaction, the statute of limitations is ten years. There is no statute of limitations in the case of tax evasion. From inception to 2013, the Group&#39;s PRC subsidiaries are subject to examination of the PRC tax authorities. The Group classifies interest and penalties associated with taxes as income tax expense. Such charges were immaterial in the years ended December&nbsp;31, 2011, 2012 and 2013.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> Income tax expenses comprise:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.65in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year&nbsp;ended&nbsp;December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2011</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 55%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Current Tax Expenses (Benefit)</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">20,647,400</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">(1,894,736</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">)</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">(162,621</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Deferred Tax Expenses (Benefit)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (19,933,128</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 12,148,323</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1,434,386</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 714,272</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 10,253,587</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 1,271,765</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The principal components of deferred income tax assets and liabilities are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.65in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6">December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Net operating loss carried forward</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">13,984,909</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">29,784,578</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Depreciation of property, plant and equipment</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">554,227</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">493,800</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt">Inventory write-down</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">3,687,349</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,531,750</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Bad debt provision</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">349,466</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,518,953</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Government grants related to assets</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">320,960</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">423,938</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Long-lived asset impairment</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">19,810,832</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">22,590,196</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Others</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 390,491</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 290,652</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Sub-total</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">39,098,234</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">56,633,867</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Valuation Allowance</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (37,682,733</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (56,633,867</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Total</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> 1,415,501</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; TEXT-ALIGN: right"> -</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Deferred tax assets are analyzed as:</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt">Current</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">358,435</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt">Non-current</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1,057,066</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The Group uses the asset and liability method to record related deferred tax assets and liabilities. In assessing the reliability of deferred tax assets, the Group considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Based on the continuous operating losses suffered and the level of projections for future taxable income over the periods in which the deferred tax assets are deductible, the Group believes it is not more likely than not that the Group will realize the benefits of these deductible differences of Chongqing Daqo and Xinjiang Daqo as at December&nbsp;31, 2013. The amount of the deferred tax asset considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry-forward period are reduced. Xinjiang Daqo and Chongqing Daqo had net operating losses carried forward of approximately $12,894,429 and $106,243,882, respectively, which would expire if not used before December 31, 2018.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The effective income tax rate of the Group is different from the expected PRC statutory rate as a result of the following items:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year&nbsp;ended&nbsp;December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2011</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 55%; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> PRC Enterprise Income Tax</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">25</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">%</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">25</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">%</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">25</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Preferential income tax rate of a subsidiary</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(12</td> <td style="TEXT-ALIGN: left">)%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(9</td> <td style="TEXT-ALIGN: left">)%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(2</td> <td style="TEXT-ALIGN: left">)%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Effect of different reversal rate</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(14</td> <td style="TEXT-ALIGN: left">)%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">8</td> <td style="TEXT-ALIGN: left">%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">3</td> <td style="TEXT-ALIGN: left">%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Additional tax deductions</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(1</td> <td style="TEXT-ALIGN: left">)%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-LEFT: 10pt; TEXT-INDENT: -10pt">Non-deductible expenses</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">1</td> <td style="TEXT-ALIGN: left">%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Different tax rate in other jurisdictions</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">2</td> <td style="TEXT-ALIGN: left">%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(1</td> <td style="TEXT-ALIGN: left">)%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Changes in valuation allowance</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(35</td> <td style="TEXT-ALIGN: left">)%</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(26</td> <td style="TEXT-ALIGN: left">)%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Prior year adjustment</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">%</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">%</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 10pt; TEXT-INDENT: -10pt"> Effective tax rate</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 2</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">%</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (10</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)%</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> (1</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">)%</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 23pt"> The aggregate amount and per share effect of the tax holiday are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10">Year&nbsp;ended&nbsp;December&nbsp;31,</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2011</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2012</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> <td style="FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2"> 2013</td> <td style="FONT-WEIGHT: bold">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: center" colspan="2">$</td> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: center" colspan="2">$</td> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: center" colspan="2">$</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 55%; TEXT-ALIGN: left">The aggregate dollar effect (in thousands)</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">4,388</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> <td style="WIDTH: 12%; TEXT-ALIGN: right">-</td> <td style="WIDTH: 1%; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td>Per share effect-basic</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">0.02</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td>Per share effect-diluted</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">0.02</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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                <p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 15<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br><br><br><br></p>
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